The real estate market in Victoria posted a strong September in comparison to September 2010.
542 Sales were reported in September 2011, a significant uptick to the 395 reported in September 2010.
The average single family house price was down from Augusts’ number of $652,000 to $622,000 - but well up from the September 2010 average of $592,000. Condos were averaging $332,000 versus $339,000 form the previous month but again well up over the $295,000 reported last year for the same time period. Townhouses remained relatively unchanged month to month at $436,000 versus $437,000 and remain stable with last year’s prices of $439,000.
The Victoria real estate market is experiencing rising prices and increasing sales figures when viewed on a year to year basis. It was widely reported that real estate sales were down from August indicating declining sales. What was not reported was that this is the case virtually every single year due to our natural market cycles. More people buy homes in August than September. Just as more people buy home in May than they do in December.
The moral of the story: If you want to know what is actually going on in the Victoria real estate market, ask a professional who actually works in the market. Don’t rely on what you hear on T.V. or read in the papers. Give us a call anytime for professional, reliable and accurate information.