National Brokers Network

Board: Greater Victoria Homes Sales and Prices Up

Latest data collected from the Victoria Real Estate Board reveal there are fewer homes are up for sale in Greater Victoria, with home prices and sales shooting up.

In the core municipalities, single family-sized houses rose in benchmark value in November, amounting to $608,600 –nine percent higher than its $558,600 figure back in November 2014. 

Sales also enjoyed a 23 percent jump year over year with a total of 573 properties changing hands in the previous month in comparison with 465 in November 2014.

Inventory on properties on the Multiple Listing Service dropped 18.7 percent from 3,631 in 2014 to 2,952 in November 2015.

Board President Guy Crozier said buyer demand has increased, with inventory decreasing year over year.

According to him, Victoria has real estate microclimates, with different areas having different levels of demand and the capacity to meet said demand.  

But, despite the increase in properties selling throughout the region, Mr. Crozier said value and timing (to sell) can differ depending on the location and type of property being sold.

$277.5 million is the total value combined of the 573 properties sold in November.

Leading the region is Saanich East which had the highest number of single family houses sold at 60, with a total of $41.58 million and an average of $693,030.

Coming in at second is Langford, with 42 single-family houses sold totaling $22.13 million and averaging $526,983.

Finally in Oak Bay, there were 21 single family homes sold for a total of $22.67 million and an average of $1.09 million.

Contact your residential property broker Victoria to know more and to get assistance with your real estate requirements. 

National Brokers Network Business Brokers Victoria is a well respected real estate broker in Victoria. Our commitment is informing and empowering our readers with the real estate knowledge in Australia. If you are in the market or selling your property, Register Your Property today or Let Us Know Your Requirements so we can assist you.


Confidentiality Agreement

In Consideration of the Vendor of the subject business, or any other business introduced to the Proposed Purchaser and their agent National Brokers Network (“the agent”) providing information to the Prospective Purchaser, the Prospective Purchaser agrees:

1. To keep all information provided confidential in respect to the subject business and any other business introduced to the Prospective Purchaser by the Agent.
2. That no information is to be disclosed by the Prospective Purchaser to any third party without consent by the Agent;
3. That it will not use for themselves. Or for others benefit, such information other than to Purchase the subject business or other business introduced by the Agent;
4. That any agreement to purchase the whole or portion of the business shall be exclusively through the Agent;
5. To immediately return to the Agent all such information and other details in written form including any drawings and any copies made of written information, notes, summaries or extracts of any document therefor if any when requested by the Agent;
6. Under no circumstances will the Prospective Purchaser make direct contact with the vendor of the subject business or other introduced business without the prior written consent of the Agent;
7. If the Prospective Purchaser breaches this agreement or buys the business direct from the Vendor, the Prospective purchaser is liable to and indemnifies the Agent for any and all losses the agent may incur including economic loss and loss of income.v

Client Signature (Sign on the box below)