10.4% fewer than the 4,404 active listings in april 2014.€¦ · president crozier adds. “the...

Victoria Real Estate Market Activity Continues to Exceed Expectations

May 1, 2015, Victoria BC – The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for April 2015. A total of 840 properties sold in the Victoria region this April, a 26.5% increase compared to the 664 properties sold in the same month last year.

“We’ve seen modest sales increases in the area for the past two years, which we’ve attributed to a growing consumer confidence in the market,” Victoria Real Estate Board President Guy Crozier says. “The past three months have been exceptional, and I think have surprised most people watching the market; I certainly haven’t seen forecasts even close to the numbers we see today. It’s possible that consumers who were hesitant to make a move or purchase their first house during the recent economic downturn may have waited to see conditions like we see now – the favourable interest rates, good selection of prices and properties, and increased confidence in the local economy.”

There were 3,945 active listings for sale on the Multiple Listing Service® at the end of April, 10.4% fewer than the 4,404 active listings in April 2014.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $562,000. The benchmark value for the same home this month has increased by 3.5% to $581,700.

“The last time we saw this many transactions in an April was in 2007 when we saw 898 sales,” President Crozier adds. “The market is good, but prices aren’t crazy - despite the activity levels, values in our local market are still recovering from the peaks we saw in 2008 and 2010. Depending on the area, single family property values are as much as nine percent below the 2010 values. It is a great time to buy or sell property in our area.”

Victoria Real Estate Board President Guy Crozier is available for comment. More information on the April 2015 report and the Multiple Listing Service® Home Price Index is available from the Victoria Real Estate Board, vreb.org.

About VREB – Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents approximately 1,200 local REALTORS®.

Contact:Denise Hogue, communications manager - [email protected], 250 920-4652

Commonly Quoted Benchmark Home April 2015Benchmark

Price

March 2015Benchmark

Price

April 2014Benchmark

Price

April 2015Index Value

March 2015Index Value

April 2014Index Value

LM% LY%

Single Family Benchmark Home: Greater Victoria $500,900 $492,600 $482,200 144.4 142.0 139.0 1.7% 3.9%Single Family Benchmark Home: Core $581,700 $569,700 $562,000 151.0 147.9 145.9 2.1% 3.5%Single Family Benchmark Home: Westshore $422,200 $417,000 $416,100 137.8 136.1 135.8 1.2% 1.5%Single Family Benchmark Home: Peninsula $544,000 $539,800 $521,000 141.4 140.3 135.4 0.8% 4.4%

Condo Benchmark Home: Greater Victoria $299,100 $296,300 $283,300 148.0 146.6 140.2 0.9% 5.6%Townhouse Benchmark Home: Greater Victoria $403,800 $403,500 $402,600 139.4 139.3 139.0 0.1% 0.3%

LY%:

Previous Periods Comparison of MLS® HPI Benchmark Prices and MLS® HPI Index Values

Legend

April 2015March 2015April 2014Percentage change between current month and last monthPercentage change between current month and same month last year

Current Month:Last Month:Last Year:

LM%:

ay, May 01, 2015April 2015evious Periods Comparison of Unit Sales, Average Prices and Median Prices

Sales by Property Type

Single Family Greater Victoria Single Family Other Areas Single Family Total All Areas Condos Townhouses Manufactured Homes Total Residential Total Sales

Active Listings

Units Median$Average$LY%LM% LY%LM% LY%LM% Units Median$Average$ Units Median$Average$2015 - April

435

2248020

808

484

840

49

3,945

393

1877220

703

424

734

31

3,769

361

1636513

642

401

664

40

4,404

$635,340

$343,428$401,511$186,670

$632,559$607,874

$570,000

$293,218$387,000$120,000

$562,500$488,000

$624,093

$330,062$446,411$84,520

$617,642$535,856

$570,000

$278,000$391,000$72,250

$570,000$573,000

$643,467

$303,815$406,146$125,346

$619,582$404,025

$551,000

$267,500$370,000$110,000

$545,000$375,000

10.7%

19.8%11.1%0.0%

14.9%

14.2%

14.4%

58.1%

4.7%

20.5%

37.4%23.1%53.8%25.9%

20.7%

26.5%

22.5%

-10.4%

1.8%

4.0%-10.1%120.9%

2.4%13.4%

-1.3%

13.0%-1.1%48.9%

2.1%50.5%

0.0%

5.5%-1.0%66.1%

-1.3%-14.8%

3.4%

9.6%4.6%9.1%

3.2%30.1%

2015 - March 2014 - April

Legend

Units: net number of listings soldLM%: percentage change since Last MonthLY%: percentage change since This Month Last YearAverage$: average selling priceMedian$: median selling priceActive Listings: total listings on the market at midnight on the last day of the month

This Month Last Month This Month Last Year

April 2015Statistics Package for Media

Previous Periods Comparison of MLS® HPI Benchmark Prices and MLS® HPI Index Values

Victoria Real Estate Board April 2015 statistics

Previous Periods Comparison of Unit Sales, Average Prices and Median Prices

5

8%10%12%14%16%18%20%22%24%26%28%

Apr

201

3

May

201

3

Jun

2013

Jul 2

013

Aug

201

3

Sep

201

3

Oct

201

3

Nov

201

3

Dec

201

3

Jan

2014

Feb

2014

Mar

201

4

Apr

201

4

May

201

4

Jun

2014

Jul 2

014

Aug

201

4

Sep

201

4

Oct

201

4

Nov

201

4

Dec

201

4

Jan

2015

Feb

2015

Mar

201

5

Apr

201

5

Balanced Market

Sales to Active Listings Ratio

The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is downward pressure on prices, and a "sellers' market", where there is upward pressure on prices.

- below 10%, there is downward pressure on prices (buyers' market) - above 25%, there is upward pressure on prices (sellers' market) - in the 15-20% range, there is little pressure on prices either way (balanced market)


Total new MLS® listings and total MLS® sales for entire district

The Victoria Real Estate Board uses the MLS® Home Price Index (MLS® HPI) to report on property values. The MLS® HPI uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defi ned area.

Through the analysis of over ten years of Victoria Real Estate Board MLS® sales data, the MLS® HPI defi ned benchmark homes for Victoria in each category (single family homes, townhouses, condos) and for each neighbourhood. The benchmark starting point was 2005, where each type of property and neighbourhood was assigned an index value of 100.

MLS® HPI benchmark and value - Single Family Homes


HPI or Benchmark (Applies to all tabs)

HPIBenchmark

12 Months Ago

Vict

oria

REB

Cor

e

Wes

tsho

re

Peni

nsul

a

Gul

f Isl

ands

Mal

ahat

& A

rea

per c

ent

0.00%

2.00%

4.00%

6.00%

3.88%3.50%

1.47%

4.43%

1.87%

5.53%

Abc% Difference of Benchmark from 12 Months Ago (Apr '14 to Apr '15): Single Family - All

Property TypeSingle Family - All

Select Timeframe:

AreaVREB Area Summary

April 2015 1 Month Ago 3 Months Ago 6 Months Ago 12 Months Ago 36 Months Ago 60 Months Ago January 2005

Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Sooke

Langford

Metchosin

Colwood

Highlands

North Saanich

Sidney

Central Saanich

ML Malahat & Area

GI Gulf Islands

$928,300$897,300$863,700 $861,000$858,300 $836,800

$811,900$796,500 $788,700$778,800$777,100 $771,100

$770,200

$739,600

$693,100

$692,300

$672,700

$670,100

$654,800 $653,800$640,300 $627,400$623,000

$620,200

$613,900

$613,000$606,100

$603,600 $598,500

$594,600 $590,100

$586,700 $582,300

$580,500

$577,200$576,800

$566,100

$565,300 $555,600

$555,500

$552,000

$550,400$545,600 $543,700

$539,300

$538,500

$537,400

$526,300

$525,500 $524,800

$517,700

$514,400 $512,600

$511,900

$509,000

$508,800

$507,300

$506,900

$505,400

$502,100

$501,200

$500,900

$500,900

$500,900

$500,000

$498,800$496,100

$492,600

$486,400

$486,000 $482,200

$481,600

$481,100

$480,100

$479,400

$470,700$468,700

$467,200

$462,500

$460,300

$459,900

$459,100

$454,500

$452,800$451,900

$448,300

$447,100

$447,100

$446,200

$442,800$442,800$440,600

$439,500

$438,700

$438,500

$433,500

$429,700

$428,200

$425,200 $424,800

$422,700

$420,500

$420,300 $419,500$419,200 $416,700

$415,600$412,200

$405,000

$402,800

$394,500

$387,500

$386,100

$384,600 $384,000$381,200$381,000

$379,400

$372,100

$370,800

$365,600

$364,400

$361,200

$360,500

$355,000 $354,400$352,000

$351,200

$346,900

$344,800

$344,100

$341,800

$338,700

$337,300

$336,800

$332,200

$320,200

$314,800

$308,500

$297,300

$293,200

$282,300

$275,900

$271,200

Benchmark by Timeframe and Property Type: Single Family - All

HPI or Benchmark (Applies to all tabs)HPI

Benchmark Property TypeSingle Family - All

AreaVREB District Summary

Source: Victoria Real Estate Board


Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Sooke

Langford

Metchosin

Colwood

Highlands

North Saanich

Sidney

Central Saanich

ML Malahat & Area

GI Gulf Islands

161.5

161.0

159.9

159.9

158.9

157.2

156.0

154.1

153.5

153.0

152.3

152.2

152.0

152.0

151.9

151.7

151.7

150.9

150.7

150.5

150.4

150.4150.1

149.9

149.3

149.1

148.9

148.7

148.6

148.6

148.5

148.5

148.4

148.1

147.9

147.6

147.6

147.5

147.3

147.1

147.0

146.8

146.6

146.4

146.3146.2

146.2

146.1

145.8

145.7

145.6

144.4

144.4

144.4

144.3

144.2

143.9

143.4

143.0

142.9

142.9

142.7

142.7

142.4

142.2

142.2

142.2

142.0

142.0

141.1140.8

140.2

140.1

139.9

139.7

139.6

139.4 139.2

139.0

138.7

138.3138.3

138.2

138.2138.1

138.0

137.8 137.7

137.7

137.6

136.3

136.1

136.0

135.9

134.7

134.4

134.0

133.6

133.4

133.3

133.1

132.1

131.8

131.7

130.9 130.7

130.4

129.8

129.5

129.3

128.4

128.3

128.0

127.6

127.6

126.9124.9

124.7

124.4

123.2

123.1

119.8 117.6116.6

114.5

113.3 100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

HPI by Timeframe and Property Type: Single Family - All


Benchmark Property TypeSingle Family - All




Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Langford

Colwood

Sidney

$517,700 $499,700 $496,700$486,500$485,500 $457,000$450,200

$366,600

$363,500$355,100

$351,600

$348,800

$339,400

$338,800

$338,300$332,900 $332,000 $325,900

$322,900 $321,500

$319,200

$318,500

$318,500

$317,100

$303,000

$301,800

$299,100

$298,900

$298,800

$296,300

$296,300 $295,300

$291,400 $290,800

$289,000

$288,700

$287,600 $286,800

$283,600

$283,300

$283,100 $276,200

$272,200

$272,100$271,300

$269,900

$268,800

$268,300

$267,000

$265,500$262,100

$259,300

$257,300

$256,700

$256,500$255,900

$255,700$255,500

$255,100

$253,700

$252,400$251,000 $248,500

$247,500$247,000

$245,900

$243,000

$239,700

$237,300

$236,300$234,700$234,000

$233,000

$232,700

$231,300

$225,300$219,500 $215,600 $215,500$214,900 $211,400

$202,100

$189,900

$186,800

$181,400

$160,700

$155,700

$144,800

Benchmark by Timeframe and Property Type: Condo Apartment


Benchmark Property TypeCondo Apartment




Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Langford

Colwood

Sidney

167.9

167.8

164.2164.1 162.1161.2

159.7

159.6

159.2

157.9

157.6

157.4

156.0

155.6

154.7

152.8

152.4

152.4

151.6

149.7

149.4

149.1

149.1

148.9 148.8148.4

148.0

147.5

147.0

146.7

146.6

146.6

146.4

146.1

146.0

146.0

145.7

145.6

145.5

145.2

144.8

144.5

143.9

143.7

143.6

143.3

143.3

142.9

142.9

142.9

142.5

142.3 141.9

141.9

141.3

140.2

139.9

139.9

139.6 139.0

138.8

137.8

137.7

137.3137.0

136.5136.2

134.9132.9

131.0 129.2128.1

125.1124.3 118.3 114.2 114.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

HPI by Timeframe and Property Type: Condo Apartment


Benchmark Property TypeCondo Apartment




Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Sooke

Langford

Colwood

Sidney

Central Saanich

ML Malahat & Area

GI Gulf Islands

$594,300$560,100

$540,200

$529,400 $527,000

$513,600$512,900

$512,500

$508,500$507,400

$505,300$502,400

$500,900 $499,800

$484,800

$464,400

$455,900

$446,600

$442,900

$440,800

$437,000

$432,800 $429,100 $428,500$426,500

$423,600

$421,600

$421,000

$419,900

$419,000

$418,000 $417,200

$416,100

$415,600

$413,000

$412,100

$410,400 $407,500

$407,300

$406,100

$405,000

$404,700

$403,800 $403,500

$402,900

$402,600

$401,900

$401,500

$401,200

$401,200

$400,400

$400,300

$399,900 $397,100

$395,900$390,800

$390,700

$388,500

$386,200

$384,300$382,000

$376,400

$371,800

$370,600 $368,700 $366,800

$366,200

$364,300

$364,100

$364,000

$363,900

$361,500

$361,500

$360,000

$356,900

$356,800

$352,100

$351,800

$351,500 $349,100

$348,500$347,800

$347,200

$346,700

$346,200$344,200 $342,900

$342,200

$340,400 $336,100

$330,900

$330,900

$330,100

$329,600

$324,800

$320,300

$313,000

$311,300

$307,400$304,800

$304,100$303,900

$301,700

$300,200

$298,800$297,100

$294,000

$292,200

$292,000

$289,600

$286,800

$286,000

$286,000

$278,800

$277,800

$255,700

$254,900

$252,200

$221,300

$189,400

Benchmark by Timeframe and Property Type: Townhouse


Benchmark Property TypeTownhouse




Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Sooke

Langford

Colwood

Sidney

Central Saanich

ML Malahat & Area

GI Gulf Islands 165.9

164.4

163.3

160.6160.5

159.8

159.2

158.9

158.8

157.8

157.7

157.1156.9

156.9

156.4

156.0

155.8

155.5

154.9

154.9

154.2

154.1

153.9

152.9

152.8

151.9

151.9

151.3

150.8

150.0

149.9

149.8149.1

148.9

148.4

148.1

147.5

147.2

147.2

146.8

146.5

145.1

144.4

144.1

143.5

143.4 142.2

142.0

141.9

141.5

141.5

141.1140.9

140.5

140.5

139.7

139.6

139.4

139.4 139.3

139.0

139.0

139.0

138.6

138.5

138.2

138.2

137.9

137.6 137.3

135.7

133.4 132.7 132.0

131.4

131.2

131.1

130.9

130.8

130.1

129.5

129.4

128.8

127.2

127.0

125.4

125.3

124.7

124.6

123.2

122.8

122.4

122.1

120.9

120.6

120.2

119.3

119.2

118.8

118.7

117.4

117.2

116.6

115.4111.7

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

HPI by Timeframe and Property Type: Townhouse


Benchmark Property TypeTownhouse



Area

Property Type

Single Family -

All

Single Family -

1 Storey

Single Family -

2 Storey

Townhouse

Condo

Apartment

Composite

Victoria REB

Core

Westshore

Peninsula

Gulf Islands

Malahat & Area

Area/Property Type Selection Tool To Select Multiple Options: Hold CTRL and click the selections below

Select Date Range:All values



Benchmark

Benchmark Performance over Time


Select the red marker(s) from the Area/Property Type Selection Tool Matrix on the right to graph your selection.

Jan 2006

Jan 2008

Jan 2010

Jan 2012

Jan 2014

Benchmark ($)

300,000

400,000

500,000

600,000

Core

Single Family - All

Peninsula

Single Family - All

Victoria REB

Single Family - All

Westshore

Single Family - All

Area

Property Type

Single Family -

All

Single Family -

1 Storey

Single Family -

2 Storey

Townhouse

Condo

Apartment

Composite

Victoria REB

Core

Westshore

Peninsula

Gulf Islands

Malahat & Area





Benchmark




Jan 2006

Jan 2008

Jan 2010

Jan 2012

Jan 2014

Benchmark ($)

200,000

250,000

300,000

350,000

Core

Condo Apartment

Peninsula

Condo Apartment

Victoria REB

Condo Apartment

Westshore

Condo Apartment

Area

Property Type

Single Family -

All

Single Family -

1 Storey

Single Family -

2 Storey

Townhouse

Condo

Apartment

Composite

Victoria REB

Core

Westshore

Peninsula

Gulf Islands

Malahat & Area





Benchmark




Jan 2006

Jan 2008

Jan 2010

Jan 2012

Jan 2014

Benchmark ($)

300,000

350,000

400,000

450,000

Core

Townhouse

Peninsula

Townhouse

Victoria REB

Townhouse

Westshore

Townhouse

Area

Property Type

Single Family -

All

Single Family -

1 Storey

Single Family -

2 Storey

Townhouse

Condo

Apartment

Composite

Victoria REB

Core

Westshore

Peninsula

Gulf Islands

Malahat & Area





Benchmark




Jan 2006

Jan 2008

Jan 2010

Jan 2012

Jan 2014

Benchmark ($)

200,000

300,000

400,000

500,000

Victoria REB

Single Family - All Townhouse Condo Apartment

Monthly Sales SummaryFriday, May 1, 2015

Units Total Volume

April 2015

Region

District

ResidentialSingle Familyl

Greater Victoria

Victoria 61 $36,797,899

Victoria West 5 $2,395,500

Oak Bay 32 $28,753,922

Esquimalt 10 $5,151,000

View Royal 3 $1,409,000

Saanich East 96 $67,370,117

Saanich West 37 $21,127,511

Central Saanich 19 $13,544,750

North Saanich 14 $9,287,300

Sidney 14 $7,215,700

Highlands 3 $1,702,800

Colwood 19 $9,986,300

Langford 62 $30,614,200

Metchosin 8 $5,217,499

Sooke 31 $11,762,183

Waterfront (all districts) 21 $24,037,200

Total Greater Victoria 435 $276,372,881

Other Areas

Shawnigan Lake / Malahat 7 $3,042,500

Gulf Islands 19 $9,794,538

UpIsland / Mainland 10 $5,223,300


Total Other Areas 49 $29,785,838

Total Single Family 484 $306,158,719

Condominiuml

Greater Victoria

Victoria 87 $30,428,437


Oak Bay 3 $1,353,000

Esquimalt 8 $1,844,600

View Royal 8 $1,870,000




Sidney 19 $7,052,000

Colwood 4 $1,223,000

Langford 13 $3,450,900



Total Condominium 224 $76,927,925

1Victoria Real Estate Board Multiple Listing Service ®


Units Total Volume

April 2015

Region

District

Townhousel

Greater Victoria

Victoria 9 $4,323,175


Esquimalt 5 $1,950,000

View Royal 3 $1,080,000




North Saanich 2 $957,000

Sidney 5 $1,780,000

Colwood 9 $4,186,533

Langford 12 $4,012,900

Sooke 1 $287,500



Other Areas

Gulf Islands 2 $115,500

Waterfront (all districts) 3 $64,900

Total Other Areas 5 $180,400

Total Townhouse 80 $32,120,908

Manufactured Homesl

Greater Victoria

View Royal 5 $681,500

Central Saanich 1 $153,000

Sidney 2 $386,900

Langford 2 $146,500

Sooke 4 $454,500

Waterfront (all districts) 1 $143,000


Other Areas

Shawnigan Lake / Malahat 1 $35,000

Gulf Islands 4 $1,733,000


Total Manufactured Homes 20 $3,733,400

Total Residential 808 $418,940,952



Units Total Volume

April 2015

Region

District

Grand Totals 840 $431,715,472

10 $7,576,520Other Commercial Propertiesl

Other Property

Lots & Acreage (Incl Wtrfrnt)l

Greater Victoria

Saanich East 0 $260,100

Saanich West 1 $550,000

Central Saanich 1 $825,000

North Saanich 2 $610,000

Highlands 1 $239,000

Colwood 1 $185,000

Langford 2 $545,000

Sooke 5 $685,000


Other Areas

Gulf Islands 4 $504,000

UpIsland / Mainland 5 $794,900


Total Lots & Acreage (Incl Wtrfrnt) 22 $5,198,000


Active Listings, New Listings and Sales April 2015Friday, May 01, 2015

2,900

3,100

3,300

3,500

3,700

3,900

4,100

4,300

4,500

4,700

4,900

5,100

5,300

Apr

201

3

May

201

3

Jun

2013

Jul 2

013

Aug

201

3

Sep

201

3

Oct

201

3

Nov

201

3

Dec

201

3

Jan

2014

Feb

2014

Mar

201

4

Apr

201

4

May

201

4

Jun

2014

Jul 2

014

Aug

201

4

Sep

201

4

Oct

201

4

Nov

201

4

Dec

201

4

Jan

2015

Feb

2015

Mar

201

5

Apr

201

5

Total Active MLS® Listings

Total Ne MLS® Listings and Total MLS® Sales

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Apr

201

3

May

201

3

Jun

2013

Jul 2

013

Aug

201

3

Sep

201

3

Oct

201

3

Nov

201

3

Dec

201

3

Jan

2014

Feb

2014

Mar

201

4

Apr

201

4

May

201

4

Jun

2014

Jul 2

014

Aug

201

4

Sep

201

4

Oct

201

4

Nov

201

4

Dec

201

4

Jan

2015

Feb

2015

Mar

201

5

Apr

201

5

Total New MLS® Listings and Total MLS® Sales

Listings Sales

Victoria Real Estate Board Multiple Listing Service ®

Sales to Active Listings Ratio April 2015Friday, May 01, 2015

8%10%12%14%16%18%20%22%24%26%28%

Apr

201

3

May

201

3

Jun

2013

Jul 2

013

Aug

201

3

Sep

201

3

Oct

201

3

Nov

201

3

Dec

201

3

Jan

2014

Feb

2014

Mar

201

4

Apr

201

4

May

201

4

Jun

2014

Jul 2

014

Aug

201

4

Sep

201

4

Oct

201

4

Nov

201

4

Dec

201

4

Jan

2015

Feb

2015

Mar

201

5

Apr

201

5

Balanced Market

The Sales to Active Listings Ratio

This chart tracks the ratio of total residential sales over total active residential listings at month-end for

Victoria Real Estate Board Multiple Listing Service ®

This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months.

The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is sustained downward pressure on prices, and a "sellers' market", where there is sustained upward pressure on prices.

Based on a regression analysis performed by the Economics Department of the BC Real Estate Association in each market area of the province, the Sales to Active Listings Ratio for Victoria can be interpreted as follows:

- below 14%, there is downward pressure on prices (buyers' market)- above 20%, there is upward pressure on prices (sellers' market)- in the 14-20% range, there is little pressure on prices either way (balanced market)

Monthly Comparative Activity By Property Type Friday, May 01, 2015

April 2015

Current Month

This Year % ChangeLast Year

Year To Date


Single Family - Residential

Units Listed 648

Units Sold 391

Sell/List Ratio 60

Sales Dollars $231,812,220

Average Price / Unit $592,870

Price Ratio 98

Days To Sell 41

Active Listings at Month End 1200

%

%

672

336

50

$199,121,432

$592,623

98

53

1380

%

%

-4

16

16

0

-23

-13

%

%

%

%

%

%

2142

1174

55

$688,718,945

$586,643

98

47

%

%

2067

945

46

$541,829,749

$573,365

98

59

%

%

4

24

27

2

-19

%

%

%

%

%

Single Family - Residential Waterfront

Units Listed 71

Units Sold 33

Sell/List Ratio 46


Average Price / Unit $1,077,052

Price Ratio 96

Days To Sell 116


%

%

79

22

28

$24,520,751

$1,114,580

98

114

286

%

%

-10

50

45

-3

2

-10

%

%

%

%

%

%

227

73

32

$72,903,728

$998,681

95

139

%

%

228

56

25

$63,882,039

$1,140,751

94

128

%

%

0

30

14

-12

8

%

%

%

%

%

Single Family - Residential Acreage

Units Listed 85

Units Sold 39

Sell/List Ratio 46



Price Ratio 96

Days To Sell 122


%

%

95

33

35

$20,801,245

$630,341

95

99

318

%

%

-11

18

33

13

23

-9

%

%

%

%

%

%

258

115

45

$76,941,511

$669,057

96

123

%

%

264

90

34

$65,259,020

$725,100

96

113

%

%

-2

28

18

-8

9

%

%

%

%

%

Condominium

Units Listed 326

Units Sold 224

Sell/List Ratio 69



Price Ratio 97

Days To Sell 58


%

%

335

163

49

$49,521,798

$303,815

97

60

894

%

%

-3

37

55

13

-5

-6

%

%

%

%

%

%

1250

640

51

$213,690,349

$333,891

97

62

%

%

1195

520

44

$166,017,154

$319,264

97

73

%

%

5

23

29

5

-15

%

%

%

%

%



April 2015

Current Month


Year To Date


Townhouse

Units Listed 124

Units Sold 80

Sell/List Ratio 65



Price Ratio 99

Days To Sell 85


%

%

128

65

51

$26,399,500

$406,146

98

54

369

%

%

-3

23

22

-1

57

-20

%

%

%

%

%

%

452

246

54

$101,660,406

$413,254

98

75

%

%

467

205

44

$84,723,800

$413,287

97

65

%

%

-3

20

20

0

15

%

%

%

%

%

Strata Duplex (Up and Down)

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0

Average Price / Unit

Price Ratio

Days To Sell


%

%

2

0

0

$0

3

%

%

-100

0

%

%

%

%

%

%

4

1

25

$377,800

$377,800

104

42

%

%

4

2

50

$521,000

$260,500

95

89

%

%

0

-50

-27

45

-53

%

%

%

%

%

Strata Duplex (Side by Side)

Units Listed 8

Units Sold 9

Sell/List Ratio 113



Price Ratio 97

Days To Sell 60


%

%

13

3

23

$1,411,000

$470,333

97

27

31

%

%

-38

200

195

-2

121

-6

%

%

%

%

%

%

52

20

38

$8,521,300

$426,065

98

48

%

%

45

23

51

$9,816,150

$426,789

97

59

%

%

16

-13

-13

0

-20

%

%

%

%

%

Strata Duplex (Front and Back)

Units Listed 2

Units Sold 2

Sell/List Ratio 100

Sales Dollars $974,000


Price Ratio 96

Days To Sell 18


%

%

2

2

100

$673,000

$336,500

98

117

7

%

%

0

0

45

45

-85

-29

%

%

%

%

%

%

11

5

45

$2,567,900

$513,580

95

44

%

%

12

7

58

$2,527,500

$361,071

97

68

%

%

-8

-29

2

42

-35

%

%

%

%

%



April 2015

Current Month


Year To Date


Recreational

Units Listed 1

Units Sold 1

Sell/List Ratio 100

Sales Dollars $220,000


Price Ratio 96

Days To Sell 46


%

%

3

3

100

$520,000

$173,333

94

328

17

%

%

-67

-67

-58

27

-86

-18

%

%

%

%

%

%

9

2

22

$304,000

$152,000

93

40

%

%

12

3

25

$520,000

$173,333

94

328

%

%

-25

-33

-42

-12

-88

%

%

%

%

%

Manufactured Home

Units Listed 31

Units Sold 20

Sell/List Ratio 65



Price Ratio 93

Days To Sell 89


%

%

37

13

35

$1,629,500

$125,346

94

84

120

%

%

-16

54

129

49

6

-31

%

%

%

%

%

%

108

63

58

$8,131,550

$129,072

92

102

%

%

106

51

48

$6,164,050

$120,864

94

114

%

%

2

24

32

7

-11

%

%

%

%

%

Residential Lots

Units Listed 38

Units Sold 15

Sell/List Ratio 39



Price Ratio 93

Days To Sell 70


%

%

42

7

17

$1,765,500

$252,214

93

165

228

%

%

-10

114

135

10

-57

13

%

%

%

%

%

%

134

38

28

$10,588,060

$278,633

94

119

%

%

147

27

18

$6,451,550

$238,946

97

169

%

%

-9

41

64

17

-30

%

%

%

%

%

Residential Lots - Waterfront

Units Listed 7

Units Sold 0

Sell/List Ratio 0

Sales Dollars -$4,900


Price Ratio -25

Days To Sell 916


%

%

6

1

17

$315,000

$315,000

90

29

41

%

%

17

-100

-102

3059

-2

%

%

%

%

%

%

31

3

10

$43,000

$14,333

33

278

%

%

22

2

9

$434,900

$217,450

93

50

%

%

41

50

-90

-93

462

%

%

%

%

%



April 2015

Current Month


Year To Date


Residential Acreage

Units Listed 12

Units Sold 7

Sell/List Ratio 58



Price Ratio 87

Days To Sell 297


%

%

27

2

7

$548,000

$274,000

95

187

208

%

%

-56

250

92

-45

59

-5

%

%

%

%

%

%

76

24

32

$6,394,400

$266,433

82

257

%

%

102

11

11

$2,644,400

$240,400

90

175

%

%

-25

118

142

11

47

%

%

%

%

%

Residential Acreage - Waterfront

Units Listed 5

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

6

3

50

$4,325,000

$1,441,667

93

154

71

%

%

-17

-100

-100

-3

%

%

%

%

%

%

28

4

14

$1,003,033

$250,758

90

401

%

%

33

5

15

$5,053,000

$1,010,600

92

140

%

%

-15

-20

-80

-75

187

%

%

%

%

%

Revenue - Duplex/Triplex

Units Listed 7

Units Sold 9

Sell/List Ratio 129



Price Ratio 96

Days To Sell 41


%

%

8

2

25

$1,405,000

$702,500

98

54

19

%

%

-13

350

307

-9

-23

-26

%

%

%

%

%

%

25

15

60

$9,547,750

$636,517

98

38

%

%

23

5

22

$3,269,000

$653,800

97

36

%

%

9

200

192

-3

5

%

%

%

%

%

Revenue - Multi Units

Units Listed 2

Units Sold 3

Sell/List Ratio 150



Price Ratio 95

Days To Sell 88


%

%

2

1

50

$960,000

$960,000

96

38

17

%

%

0

200

272

24

132

-29

%

%

%

%

%

%

11

5

45

$4,844,900

$968,980

95

82

%

%

11

4

36

$3,689,000

$922,250

96

178

%

%

0

25

31

5

-54

%

%

%

%

%



April 2015

Current Month


Year To Date


Revenue - Apartment Block

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

2

0

0

$0

6

%

%

-100

-83

%

%

%

%

%

%

1

0

0

$0

%

%

6

1

17

$4,300,000

$4,300,000

144

82

%

%

-83

-100

-100

%

%

%

%

%

Revenue - Commercial

Units Listed 10

Units Sold 3

Sell/List Ratio 30



Price Ratio 97

Days To Sell 58


%

%

11

2

18

$968,500

$484,250

94

79

59

%

%

-9

50

314

176

-27

-5

%

%

%

%

%

%

39

7

18

$7,376,607

$1,053,801

95

78

%

%

38

8

21

$6,308,500

$788,563

74

121

%

%

3

-13

17

34

-36

%

%

%

%

%

Revenue - Industrial

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

0

0

$0

2

%

%

-50

%

%

%

%

%

%

0

0

$0

%

%

1

0

0

$0

%

%

-100 %

%

%

%

%

Business with Land & Building

Units Listed 8

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

20

2

10

$425,020

$212,510

95

128

66

%

%

-60

-100

-100

11

%

%

%

%

%

%

35

7

20

$4,717,522

$673,932

84

251

%

%

45

10

22

$4,654,958

$465,496

87

123

%

%

-22

-30

1

45

105

%

%

%

%

%



April 2015

Current Month


Year To Date


Business Only

Units Listed 13

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

11

1

9

$32,000

$32,000

36

275

74

%

%

18

-100

-100

-11

%

%

%

%

%

%

34

5

15

$830,500

$166,100

97

121

%

%

41

11

27

$1,462,900

$132,991

90

241

%

%

-17

-55

-43

25

-50

%

%

%

%

%

Motel/Hotel

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

1

0

0

$0

12

%

%

-100

-25

%

%

%

%

%

%

4

2

50

$2,940,000

$1,470,000

72

532

%

%

5

-1

-20

-$3,800,000

$3,800,000

83

%

%

-20

-300

-177

-61

%

%

%

%

%

Lease - Office

Units Listed 2

Units Sold 1

Sell/List Ratio 50

Sales Dollars $16

Average Price / Unit $16

Price Ratio

Days To Sell 135


%

%

6

1

17

$15

$15

287

29

%

%

-67

0

10

10

-53

0

%

%

%

%

%

%

10

1

10

$16

$16

135

%

%

10

1

10

$15

$15

287

%

%

0

0

10

10

-53

%

%

%

%

%

Lease - Retail

Units Listed 8

Units Sold 2

Sell/List Ratio 25

Sales Dollars $32


Price Ratio

Days To Sell 296


%

%

6

1

17

$22

$22

67

39

%

%

33

100

43

-28

342

-26

%

%

%

%

%

%

21

5

24

$121

$24

219

%

%

24

4

17

$79

$20

74

%

%

-13

25

54

23

194

%

%

%

%

%



April 2015

Current Month


Year To Date


Lease - Warehouse

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

0

0

$0

1

%

%

-100

%

%

%

%

%

%

0

0

$0

%

%

1

0

0

$0

%

%

-100 %

%

%

%

%

Lease - Industrial

Units Listed 1

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

0

0

$0

1

%

%

500

%

%

%

%

%

%

3

0

0

$0

%

%

1

0

0

$0

%

%

200 %

%

%

%

%

Lease - Other

Units Listed 3

Units Sold 1

Sell/List Ratio 33

Sales Dollars $15


Price Ratio

Days To Sell 212


%

%

6

1

17

$16

$16

98

49

%

%

-50

0

-6

-6

116

-16

%

%

%

%

%

%

16

6

38

$1,304

$217

87

222

%

%

33

3

9

$44

$15

164

%

%

-52

100

2850

1375

35

%

%

%

%

%

Commercial Land

Units Listed 1

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

1

0

0

$0

57

%

%

0

-44

%

%

%

%

%

%

15

6

40

$9,015,000

$1,502,500

88

293

%

%

18

0

0

$0

%

%

-17 %

%

%

%

%



April 2015

Current Month


Year To Date


Units Listed 1413

Units Sold 840

Sell/List Ratio 59



Price Ratio 98

Days To Sell 62


%

%

Grand Totals

1521

664

44

$335,342,298

$505,034

97

65

4404

%

%

-7

27

29

2

-3

-10

%

%

%

%

%

%

4996

2467

49

$1,231,119,702

$499,035

97

69

%

%

4961

1993

40

$975,728,807

$489,578

97

74

%

%

1

24

26

2

-7

%

%

%

%

%


Friday, May 01, 2015

April 2015Previous Periods Comparison of Unit Sales, Average Prices and Median Prices

Sales by Property Type

Single Family Greater Victoria

Single Family Other Areas

Single Family Total All Areas

Condos

Townhouses

Manufactured Homes

Total Residential

Total Sales

Active Listings

Units Median$Average$LY%LM% LY%LM% LY%LM% Units Median$Average$ Units Median$Average$

2015 - April

435

224

80

20

808

484

840

49

3,945

393

187

72

20

703

424

734

31

3,769

361

163

65

13

642

401

664

40

4,404

$635,340

$343,428

$401,511

$186,670

$632,559

$607,874

$570,000

$293,218

$387,000

$120,000

$562,500

$488,000

$624,093

$330,062

$446,411

$84,520

$617,642

$535,856

$570,000

$278,000

$391,000

$72,250

$570,000

$573,000

$643,467

$303,815

$406,146

$125,346

$619,582

$404,025

$551,000

$267,500

$370,000

$110,000

$545,000

$375,000

10.7%

19.8%

11.1%

0.0%

14.9%

14.2%

14.4%

58.1%

4.7%

20.5%

37.4%

23.1%

53.8%

25.9%

20.7%

26.5%

22.5%

-10.4%

1.8%

4.0%

-10.1%

120.9%

2.4%

13.4%

-1.3%

13.0%

-1.1%

48.9%

2.1%

50.5%

0.0%

5.5%

-1.0%

66.1%

-1.3%

-14.8%

3.4%

9.6%

4.6%

9.1%

3.2%

30.1%

2015 - March 2014 - April

Legend

Units: net number of listings soldLM%: percentage change since Last MonthLY%: percentage change since This Month Last YearAverage$: average selling priceMedian$: median selling priceActive Listings: total listings on the market at midnight on the last day of the month

This Month Last Month This Month Last Year


10.4% fewer than the 4,404 active listings in april 2014.€¦ · president crozier adds. “the...

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