Real Estate Market Stats: January 2016
Posted by John Vernon & Associates on
There were 250 Single Family homes sold in Greater Victoria in the month of January 2016. This is a 54.3% increase from the month of January 2015, where there were 162 Single Family homes sold. This trend continued in the condo and townhome market with 151 condos sold and 58 townhomes sold in January 2016. Condo sales were up 67.8% from last January's 90 sales and up 52.6% in the townhome market from January 2015's 38 sales.
The median price of a single family home that sold in Greater Victoria in January 2016 was $600,000. This is an increases of 17.6% from the average price of a single family home that sold in January 2015. The condo & townhome markets saw smaller increases in the median sale price when compared to January 2015. The median sale price for a condo was $274,900, which is a 3.8% increase from the same period of 2015. The median sale price for a townhome was $385,250 which is 5.5% higher than January 2015.
There were 2,471 active listings in January 2016 which is a decrease of 24.7% when compared to the 3,283 active listings that were on the market in January 2015.
This is just a snapshot of what the real estate market is doing in Great Victoria. If you would like a more comprehensive analysis on a specific area or product, please contact us and one of our team members would be happy to provide that to you!