{"id":303,"date":"2012-11-01T15:26:34","date_gmt":"2012-11-01T22:26:34","guid":{"rendered":"http:\/\/www.themastersgroup.ca\/blog\/?p=303"},"modified":"2012-11-01T16:28:28","modified_gmt":"2012-11-01T23:28:28","slug":"federal-measures-make-impact-on-victoria-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.ingridjarisz.com\/blog\/federal-measures-make-impact-on-victoria-real-estate-market\/","title":{"rendered":"FEDERAL MEASURES MAKE IMPACT ON VICTORIA REAL ESTATE MARKET"},"content":{"rendered":"

VICTORIA, BC\u2014<\/strong>While prices held steady through most of the Greater Victoria region\u2019s real estate market in October, government lending regulations have had the desired \u201ccooling effect\u201d on year-over-year sales numbers.<\/span><\/p>\n

\"\"<\/a>Total MLS\u00ae sales for October 2012 were 373 compared to 483 in October 2011. During the month, 211 single family homes sold throughout the Victoria Real Estate Board\u2019s region, compared to 260 in October 2011. The average price for single family homes was $576,720, down 2% from last October\u2019s average of $590,539. The median price for the same period is down $24,000 (4.5%).\u00a0 Month-over-month, both sales volume and the six-month average for single family homes are flat. Active listings are 4,876.\u00a0<\/span><\/p>\n

\u201cOverall sales for Greater Victoria are down 19%,\u201d says Carol Crabb, President of the Victoria Real Estate Board. \u201cFederal measures to slow real estate sales nationally are having a local affect. Our REALTORS\u00ae tell me that with the reduced amortization rates, many buyers are having trouble getting financing for the type of home that fits their needs, particularly first-time buyers.\u201d<\/span><\/p>\n

Crabb also notes that there are fluctuations across the region. Sales and prices are flat in the Core Municipalities, while sales are down on the Saanich Peninsula, with dec<\/span>lined sales and prices on the Westshore. \u201cI strongly caution against reading too much into the numbers,\u201d she says. \u201cBoth activity and prices vary by sub-area. For some the sample size is always small, so a sale of one or two properties can result in a 50% change.\u201d<\/p>\n

T<\/span>here were 92 condominium sales last month, 37% fewer than during October 2011. Six manufactured homes sold compared to 10 during the previous October. Townhome sa<\/span>les declined 37% and the average price dropped from $428,040 to $387,769, a 9% decrease.<\/p>\n

Total Waterfront Single Family Dwellings sold: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a015, up 3 from 2011<\/strong><\/span><\/p>\n

Total Non-waterfront Single Family Dwellings sold:\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 196,<\/strong> down 52 sales from September 2011<\/strong><\/span><\/p>\n

Single Family Dwellings sold over $1 million:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a011 <\/strong>(1 over $2 million, 1 over $3 million)<\/span><\/p>\n

Stats Quick Reference<\/strong><\/p>\n

\"\"<\/a><\/span>Total Single Family All Areas includes Shawnigan Lake\/Malahat, Gulf Islands and Up Island<\/span><\/p>\n

Summary Report and Graphs<\/strong><\/p>\n

Monthly Sales Summary<\/a><\/p>\n

Average Selling Price Graphs<\/a><\/p>\n

Active Listings, New Listings and Sales Graphs<\/a><\/p>\n

While the use of average price information can be useful in establishing trends when applied over a period of time, e.g. six months or longer, the Victoria Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR\u00ae.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

VICTORIA, BC\u2014While prices held steady through most of the Greater Victoria region\u2019s real estate market in October, government lending regulations have had the desired \u201ccooling effect\u201d on year-over-year sales numbers. Total MLS\u00ae sales for October 2012 were 373 compared to 483 in October 2011. During the month, 211 single family homes sold throughout the Victoria  Continue Reading »<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,5,4,34],"tags":[15,35,13,14],"_links":{"self":[{"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/posts\/303"}],"collection":[{"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/comments?post=303"}],"version-history":[{"count":16,"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/posts\/303\/revisions"}],"predecessor-version":[{"id":320,"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/posts\/303\/revisions\/320"}],"wp:attachment":[{"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/media?parent=303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/categories?post=303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ingridjarisz.com\/blog\/wp-json\/wp\/v2\/tags?post=303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}