Sales of condos and townhomes are flat, compared to February 2012, while down significantly from 12 months ago (17% and 15% respectively). Condo prices are unchanged, while townhomes are 1% lower than March 2011.
"With softer prices, buyers have been looking at houses," says Carol Crabb, President of the Victoria Real Estate Board. "That is now being reflected by the six-month average price increase. We predicted a flat market in January, and so far that is what we are experiencing."
She also believes sales activity was affected by poor weather and many families travelling over the two-week spring break. "REALTORS® tell me many clients took the time for family vacations," Crabb adds.
With a total of 4,274 active listings, properties on the market have edged up from last month (3,977 active listings at February 29, 2011). Increased supply levels reflect typical spring activity as seen year over year.
MLS® sales last month included 311 single family homes, 142 condominiums, 64 townhomes and 12manufactured homes, totaling 543 residential sales.
Total non-waterfront Single Family Dwellings sold:
311, down 26 sales over March 2011
Total waterfront Single Family Dwellings sold: 14, equal to March 2011
Single Family Dwellings sold over $1 million: 26 (4 over $2 million)
