Estate Board President Guy Crozier says. “And …Another Busy Month for the Victoria Real Estate...

Another Busy Month for the Victoria Real Estate Market April 1, 2015, Victoria BC – The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for March 2015. A total of 734 properties sold in the Victoria region this March, a 27.7% increase compared to the 575 properties sold in the same month last year. “We saw 393 single family homes in the region sell in the month of March. The last time we saw numbers this high in March was in 2010 when 414 single family homes sold,” Victoria Real Estate Board President Guy Crozier says. “And though we see sales numbers have increased compared to last year, we see fewer active listings for sale compared to last year.” There were 3,769 active listings for sale on the Multiple Listing Service® at the end of March, 6.9% fewer than the 4,050 active listings in March 2014. The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $560,500. The benchmark value for the same home this month has increased by 1.64% to $569,700. “Why the increase in activity? We expect the market to be busy in the spring - real estate has a seasonal trend. Interesting this year was that the momentum we saw in the market over the course of 2014 has continued to increase,” President Crozier adds. “Consumer confidence in local real estate appears to be high, and it’s likely that buyers are taking advantage of low interest rates.” Victoria Real Estate Board President Guy Crozier is available for comment. More information on the March 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 March 2015Benchmark

Price

February2015

Benchmark

March 2014Benchmark

Price

March 2015Index Value

February2015 Index

Value

March 2014Index Value

LM% LY%

Single Family Benchmark Home: Greater Victoria $492,600 $483,200 $482,600 142.0 139.3 139.1 1.9% 2.1%Single Family Benchmark Home: Core $569,700 $557,000 $560,500 147.9 144.6 145.5 2.3% 1.6%Single Family Benchmark Home: Westshore $417,000 $406,900 $409,600 136.1 132.8 133.7 2.5% 1.8%Single Family Benchmark Home: Peninsula $539,800 $522,500 $516,300 140.3 135.8 134.2 3.3% 4.6%

Condo Benchmark Home: Greater Victoria $296,300 $289,200 $281,500 146.6 143.1 139.3 2.5% 5.3%Townhouse Benchmark Home: Greater Victoria $403,500 $400,900 $401,400 139.3 138.4 138.6 0.6% 0.5%

LY%:

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

Legend

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

Current Month:Last Month:Last Year:

LM%:

dnesday, April 01, 2015March 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 - March

393

1877220

703

424

734

31

3,769

285

1395714

518

308

542

23

3,480

283

1586812

548

310

575

27

4,050

$624,093

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

$617,642$535,856

$570,000

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

$570,000$573,000

$611,146

$309,022$399,062$122,554

$605,841$540,109

$562,000

$295,000$380,000$107,000

$559,925$459,000

$632,751

$293,141$411,375$119,658

$624,751$540,896

$529,950

$283,200$374,500$119,950

$529,900$458,900

37.9%

34.5%26.3%42.9%35.7%

37.7%

35.4%

34.8%

8.3%

38.9%

18.4%5.9%

66.7%28.3%

36.8%

27.7%

14.8%

-6.9%

2.1%

6.8%11.9%

-31.0%

1.9%-0.8%

-1.4%

12.6%8.5%

-29.4%

-1.1%-0.9%

1.4%

-5.8%2.9%

-32.5%

1.8%24.8%

7.6%

-1.8%4.4%

-39.8%

7.6%24.9%

2015 - February 2014 - March

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

March 2015Statistics Package for Media

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

Victoria Real Estate Board March 2015 statistics

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

5

6%8%

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

Mar

201

3

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

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%

-1.02%

2.08%1.65% 1.80%

4.55%

1.77%

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

Property TypeSingle Family - All

Select Timeframe:

AreaVREB Area Summary

Source: Victoria Real Estate Board

March 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

$913,500$907,400$858,300 $852,300$836,100

$824,100

$815,300 $796,400

$781,000$778,800$777,100 $755,100$749,000 $745,700

$693,100

$687,500

$672,700

$668,700

$655,300$640,300 $625,900$623,500

$620,200

$619,200 $606,200

$595,100$594,600

$592,200$586,700

$584,100

$583,100

$579,800

$578,100

$576,800$576,800$574,800

$573,500

$555,600

$552,000

$551,500

$550,800$547,400$544,400

$542,700

$539,900

$539,600$537,400

$536,700$525,500

$524,500

$522,500

$515,800

$513,700

$512,600

$511,000

$506,900

$502,200

$502,100

$501,900

$501,800

$500,900 $499,200

$498,200

$497,400

$496,800

$493,700

$492,600

$490,700 $488,000

$486,100

$483,200 $482,600$481,900

$481,100

$477,400

$464,300

$462,200

$460,600

$459,900

$459,100

$457,300

$451,500

$447,100

$446,300

$446,200 $445,300$444,400

$440,800$437,600$437,300 $435,400

$435,400

$434,600

$434,100

$433,500

$431,100

$428,000

$422,700

$420,600

$420,500 $420,200 $419,300

$419,200 $418,100

$416,900

$413,300

$411,900 $409,700

$404,300

$397,200

$394,500

$385,900

$385,200

$381,800$381,000 $380,100

$376,100

$374,900 $374,300

$372,100

$360,500

$355,000

$352,000

$351,500$351,500

$349,800

$349,500

$349,300

$346,900

$345,400$341,800

$338,200$337,600

$337,300

$336,800

$328,100

$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



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

163.5

162.0

160.9

160.3

159.6

157.2

155.8

154.9

153.0

152.3

151.6

151.2

150.7

150.5

150.1

150.1 149.8149.5

149.3

149.3

149.3

149.1

149.0

148.9

148.9148.8

148.7

148.5

148.5 148.1

148.0

148.0

147.8

147.7

147.1

146.8

146.6

146.4

146.3

146.2146.2

146.2

145.8

145.7

145.7

145.4

145.0

145.0

145.0

144.9

144.4

144.0

143.4

143.2

143.2

143.1

142.9

142.3

142.2

142.2

142.0

142.0

141.5141.1

141.0

140.8

140.7

140.0

139.4

139.3

139.2

139.1

139.0

138.9

138.9

138.7

138.4

138.3

138.2

138.1 137.8

137.6

136.8

136.3

136.2

136.2

136.0

135.9

135.9

135.8

135.7

135.7

135.4

135.1

134.9

133.5

133.1

132.8

132.4

131.4

130.1

129.8

129.6

129.4129.3

129.0 128.8

128.7

128.7

127.6

127.0

126.7

126.0

125.7 124.7

124.7124.5

124.3 121.2

119.9119.9119.2

118.4

117.8116.6 111.9 100.0

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

$504,400$499,700 $490,200$474,600 $466,200 $462,400$457,000

$368,900

$364,900$348,800

$348,600

$348,500

$342,500

$338,800

$337,400 $335,500 $332,000

$331,900

$325,500

$322,900

$320,100

$313,000$310,000

$303,600

$303,500

$301,800

$301,200

$299,400

$296,300 $295,500

$293,100

$289,800

$289,600

$289,200

$289,200

$288,400

$287,200$287,200

$283,600

$281,500

$277,600$275,500 $274,900

$271,800

$271,500

$271,200

$267,900

$267,000

$265,200

$260,600 $258,700$258,700

$257,300

$256,900

$255,100

$254,900

$254,600

$252,300$251,900

$251,500$251,000

$249,500 $247,700

$247,100$244,600 $244,100

$243,900

$243,800

$236,800$234,000 $233,200

$233,000

$231,800

$231,300

$227,400

$226,800$215,600 $215,200$214,500 $209,200 $205,900

$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

168.7

168.4

163.5161.5161.2

159.0

158.7

158.6

158.4

157.7

157.1 156.8

156.6

156.6

156.6

155.1

150.7

149.7

149.4

148.9

148.9 148.6148.1

147.7

147.5

147.3

147.0

146.6 146.2

146.2

145.6

145.5

145.1

145.1 144.8

144.8

144.7

144.6

144.5

144.2

144.0

143.1

143.0

142.9

142.5

142.2

142.1142.1

141.9

141.5

140.1

139.7

139.7

139.6

139.5

139.3

139.1138.9

138.5138.5

137.6

137.6

137.5

136.6

136.6

136.5

135.3

134.9

134.0 131.2130.2

130.1

125.0

119.0118.3 114.9 113.5

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

$600,400$560,100$535,500

$534,700

$533,500$523,000

$512,900$507,800$507,400 $505,200$502,700

$502,400

$500,900

$495,600

$491,600

$457,600

$451,400

$439,900

$438,500

$438,300

$432,500$429,100$429,100 $426,500$423,600

$423,000 $421,300

$421,300$419,300

$418,000 $417,200

$415,900

$414,900

$414,500$414,500

$412,100$410,100

$409,500

$406,200

$406,100

$405,200

$404,600

$403,500

$402,900

$402,500

$401,400$401,400$400,900 $400,600

$400,400

$399,500

$396,800

$396,800

$395,300

$391,800

$391,200 $388,100 $384,100

$383,700

$377,800

$376,400 $375,500

$375,400

$373,600$369,600

$368,700 $367,900 $367,000

$366,600

$365,900

$364,000

$362,600

$360,000

$358,800

$356,900

$355,000

$354,400

$354,300

$353,100

$353,000

$346,600$346,000

$345,500$345,500

$343,500

$342,900

$341,700

$339,800 $339,500

$337,600

$336,700

$333,200

$332,500

$332,200

$330,900

$314,600$314,000$313,500

$310,600

$310,200

$306,400 $305,600

$304,800

$301,700

$295,600

$294,000

$292,200

$292,000

$289,600

$287,500

$286,800

$286,000

$286,000

$282,500

$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 169.6

164.5

164.0

162.1

161.8 161.4

159.5

159.4 159.0

158.4

157.1

156.6

156.6156.3

156.1

155.7

154.9

154.2

153.8

153.5

152.5

152.3

151.8

151.4

151.2

150.7

150.2

150.0150.0

149.6

149.2

149.1

149.1

149.0

148.1

147.9 147.3

147.3

146.9

146.8

146.6

144.1

143.6

143.4

142.2

142.0

141.9

141.5

141.1

141.0

141.0141.0

140.9139.5139.4

139.3

139.3

139.0

138.8

138.6138.6138.4 138.3

138.2

138.1

138.1 137.6

137.0137.0

136.9

135.5

132.9

132.7

132.4

132.4

132.1

132.1131.7

131.5

129.9

129.8

128.8 128.5

127.5

125.2

124.7

124.1

123.8

123.6

123.0122.8122.6

122.5

122.0

121.5

121.5

121.3

120.8

119.8

119.3

119.2

118.5 118.4 117.4115.4

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 SummaryWednesday, April 1, 2015

Units Total Volume

March 2015

Region

District

ResidentialSingle Familyl

Greater Victoria

Victoria 54 $38,187,150

Victoria West 4 $1,905,000

Oak Bay 32 $32,475,030

Esquimalt 12 $6,103,500

View Royal 10 $5,431,300

Saanich East 83 $54,390,888

Saanich West 46 $25,501,700

Central Saanich 18 $10,357,300

North Saanich 16 $10,004,700

Sidney 12 $6,130,300

Highlands 3 $1,574,500

Colwood 15 $7,920,350

Langford 47 $23,048,599

Metchosin 5 $3,006,250

Sooke 25 $9,619,038

Waterfront (all districts) 11 $9,613,000

Total Greater Victoria 393 $245,268,605

Other Areas

Shawnigan Lake / Malahat 4 $1,956,000

Gulf Islands 16 $8,547,023

UpIsland / Mainland 6 $2,486,000


Total Other Areas 31 $16,611,523

Total Single Family 424 $261,880,128

Condominiuml

Greater Victoria

Victoria 78 $24,928,838


Oak Bay 3 $1,240,400

Esquimalt 4 $951,000

View Royal 2 $665,000




Sidney 9 $2,651,800

Colwood 4 $1,415,000

Langford 21 $5,805,300



Total Condominium 187 $61,721,637

1Victoria Real Estate Board Multiple Listing Service ®


Units Total Volume

March 2015

Region

District

Townhousel

Greater Victoria

Victoria 10 $5,181,900


Oak Bay 1 $760,000

Esquimalt 4 $1,353,000

View Royal 6 $2,306,900



Central Saanich 1 $390,000

Sidney 4 $1,509,100

Colwood 3 $959,000

Langford 3 $945,100

Sooke 3 $854,900



Other Areas

Gulf Islands 2 $558,000

Total Other Areas 2 $558,000

Total Townhouse 72 $32,141,600

Manufactured Homesl

Greater Victoria

View Royal 4 $284,500

Central Saanich 1 $83,000

Sidney 1 $289,000

Langford 5 $322,500

Sooke 2 $147,500


Other Areas


UpIsland / Mainland 3 $148,900

Total Other Areas 7 $563,900

Total Manufactured Homes 20 $1,690,400

Total Residential 703 $357,433,765



Units Total Volume

March 2015

Region

District

Grand Totals 734 $369,607,004

1 $390,000Commercial Landl

13 $8,316,289Other Commercial Propertiesl

Other Property

Lots & Acreage (Incl Wtrfrnt)l

Greater Victoria

Saanich East 3 $891,650

Saanich West 1 $300,000


Highlands 1 $318,000

Colwood 2 $535,000

Langford 1 $215,250

Sooke 3 $957,900


Other Areas

Shawnigan Lake / Malahat -2 ($2,330,100)


UpIsland / Mainland 4 $654,250

Total Other Areas 4 ($1,075,850)

Total Lots & Acreage (Incl Wtrfrnt) 17 $3,466,950


Active Listings, New Listings and Sales March 2015Wednesday, April 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

Mar

201

3

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

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

Mar

201

3

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

Total New MLS® Listings and Total MLS® Sales

Listings Sales

Victoria Real Estate Board Multiple Listing Service ®

Sales to Active Listings Ratio March 2015Wednesday, April 01, 2015

6%8%

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

Mar

201

3

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

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 Wednesday, April 01, 2015

March 2015

Current Month

This Year % ChangeLast Year

Year To Date


Single Family - Residential

Units Listed 600

Units Sold 365

Sell/List Ratio 61

Sales Dollars $223,092,828

Average Price / Unit $611,213

Price Ratio 99

Days To Sell 40

Active Listings at Month End 1087

%

%

514

249

48

$142,240,538

$571,247

97

60

1222

%

%

17

47

57

7

-34

-11

%

%

%

%

%

%

1494

783

52

$456,906,725

$583,533

98

51

%

%

1395

609

44

$342,708,317

$562,739

97

62

%

%

7

29

33

4

-18

%

%

%

%

%

Single Family - Residential Waterfront

Units Listed 61

Units Sold 15

Sell/List Ratio 25



Price Ratio 94

Days To Sell 83


%

%

62

19

31

$25,171,888

$1,324,836

91

151

241

%

%

-2

-21

-48

-34

-45

2

%

%

%

%

%

%

156

40

26

$37,361,028

$934,026

94

157

%

%

149

34

23

$39,361,288

$1,157,685

92

138

%

%

5

18

-5

-19

15

%

%

%

%

%

Single Family - Residential Acreage

Units Listed 78

Units Sold 30

Sell/List Ratio 38



Price Ratio 97

Days To Sell 124


%

%

58

24

41

$18,730,700

$780,446

95

119

284

%

%

34

25

3

-17

5

-9

%

%

%

%

%

%

173

76

44

$49,222,712

$647,667

96

124

%

%

169

57

34

$44,457,775

$779,961

96

121

%

%

2

33

11

-17

2

%

%

%

%

%

Condominium

Units Listed 393

Units Sold 187

Sell/List Ratio 48



Price Ratio 97

Days To Sell 63


%

%

349

158

45

$46,316,243

$293,141

98

65

850

%

%

13

18

33

13

-3

-3

%

%

%

%

%

%

924

416

45

$136,762,424

$328,756

97

64

%

%

860

357

42

$116,495,356

$326,318

97

78

%

%

7

17

17

1

-18

%

%

%

%

%



March 2015

Current Month


Year To Date


Townhouse

Units Listed 121

Units Sold 72

Sell/List Ratio 60



Price Ratio 98

Days To Sell 48


%

%

108

68

63

$27,973,500

$411,375

97

64

352

%

%

12

6

15

9

-25

-19

%

%

%

%

%

%

328

166

51

$69,539,498

$418,913

98

70

%

%

339

140

41

$58,324,300

$416,602

97

70

%

%

-3

19

19

1

0

%

%

%

%

%

Strata Duplex (Up and Down)

Units Listed 2

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0

Average Price / Unit

Price Ratio

Days To Sell


%

%

0

1

$225,000

$225,000

94

62

3

%

%

-100

-100

0

%

%

%

%

%

%

4

1

25

$377,800

$377,800

104

42

%

%

2

2

100

$521,000

$260,500

95

89

%

%

100

-50

-27

45

-53

%

%

%

%

%

Strata Duplex (Side by Side)

Units Listed 17

Units Sold 6

Sell/List Ratio 35



Price Ratio 97

Days To Sell 28


%

%

14

12

86

$4,881,150

$406,763

97

67

24

%

%

21

-50

-54

-8

-59

42

%

%

%

%

%

%

44

11

25

$4,354,300

$395,845

99

38

%

%

32

20

63

$8,405,150

$420,258

97

64

%

%

38

-45

-48

-6

-41

%

%

%

%

%

Strata Duplex (Front and Back)

Units Listed 6

Units Sold 3

Sell/List Ratio 50



Price Ratio 99

Days To Sell 24


%

%

5

3

60

$1,123,500

$374,500

97

21

7

%

%

20

0

29

29

16

0

%

%

%

%

%

%

9

3

33

$1,593,900

$531,300

95

58

%

%

10

5

50

$1,854,500

$370,900

97

48

%

%

-10

-40

-14

43

20

%

%

%

%

%



March 2015

Current Month


Year To Date


Recreational

Units Listed 2

Units Sold 1

Sell/List Ratio 50

Sales Dollars $84,000


Price Ratio 87

Days To Sell 33


%

%

3

0

0

$0

17

%

%

-33

-24

%

%

%

%

%

%

8

1

13

$84,000

$84,000

87

33

%

%

9

0

0

$0

%

%

-11 %

%

%

%

%

Manufactured Home

Units Listed 29

Units Sold 20

Sell/List Ratio 69



Price Ratio 90

Days To Sell 130


%

%

30

12

40

$1,435,900

$119,658

96

138

107

%

%

-3

67

18

-29

-6

-22

%

%

%

%

%

%

77

43

56

$4,398,150

$102,283

92

108

%

%

69

38

55

$4,534,550

$119,330

94

125

%

%

12

13

-3

-14

-14

%

%

%

%

%

Residential Lots

Units Listed 34

Units Sold 10

Sell/List Ratio 29



Price Ratio 98

Days To Sell 92


%

%

35

8

23

$1,670,000

$208,750

96

168

210

%

%

-3

25

54

23

-46

18

%

%

%

%

%

%

96

23

24

$6,439,060

$279,959

94

150

%

%

105

20

19

$4,686,050

$234,303

98

170

%

%

-9

15

37

19

-12

%

%

%

%

%

Residential Lots - Waterfront

Units Listed 6

Units Sold 0

Sell/List Ratio 0

Sales Dollars -$1,972,100


Price Ratio 104

Days To Sell 126


%

%

4

0

0

$0

42

%

%

50

-21

%

%

%

%

%

%

24

3

13

$47,900

$15,967

44

172

%

%

16

1

6

$119,900

$119,900

100

70

%

%

50

200

-60

-87

146

%

%

%

%

%



March 2015

Current Month


Year To Date


Residential Acreage

Units Listed 27

Units Sold 5

Sell/List Ratio 19



Price Ratio 77

Days To Sell 417


%

%

33

4

12

$542,900

$135,725

84

61

197

%

%

-18

25

350

260

582

5

%

%

%

%

%

%

64

17

27

$5,340,500

$314,147

81

242

%

%

75

9

12

$2,096,400

$232,933

89

173

%

%

-15

89

155

35

40

%

%

%

%

%

Residential Acreage - Waterfront

Units Listed 14

Units Sold 2

Sell/List Ratio 14



Price Ratio 100

Days To Sell 115


%

%

12

2

17

$728,000

$364,000

89

119

75

%

%

17

0

-42

-42

-3

-12

%

%

%

%

%

%

23

4

17

$1,003,033

$250,758

90

401

%

%

27

2

7

$728,000

$364,000

89

119

%

%

-15

100

38

-31

238

%

%

%

%

%

Revenue - Duplex/Triplex

Units Listed 12

Units Sold 4

Sell/List Ratio 33



Price Ratio 96

Days To Sell 46


%

%

6

2

33

$1,300,000

$650,000

95

14

13

%

%

100

100

90

-5

241

15

%

%

%

%

%

%

18

6

33

$3,823,750

$637,292

100

33

%

%

15

3

20

$1,864,000

$621,333

96

24

%

%

20

100

105

3

36

%

%

%

%

%

Revenue - Multi Units

Units Listed 3

Units Sold 2

Sell/List Ratio 67



Price Ratio 95

Days To Sell 73


%

%

6

2

33

$1,929,000

$964,500

97

79

19

%

%

-50

0

-34

-34

-7

-16

%

%

%

%

%

%

9

2

22

$1,275,000

$637,500

95

73

%

%

9

3

33

$2,729,000

$909,667

97

225

%

%

0

-33

-53

-30

-68

%

%

%

%

%



March 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


%

%

0

1

$4,300,000

$4,300,000

144

82

6

%

%

-100

-100

-83

%

%

%

%

%

%

1

0

0

$0

%

%

4

1

25

$4,300,000

$4,300,000

144

82

%

%

-75

-100

-100

%

%

%

%

%

Revenue - Commercial

Units Listed 7

Units Sold 2

Sell/List Ratio 29



Price Ratio 94

Days To Sell 11


%

%

7

2

29

$1,120,000

$560,000

89

226

50

%

%

0

0

1

1

-95

12

%

%

%

%

%

%

29

4

14

$3,370,050

$842,513

93

89

%

%

27

6

22

$5,340,000

$890,000

71

135

%

%

7

-33

-37

-5

-34

%

%

%

%

%

Revenue - Industrial

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

1

0

0

$0

2

%

%

-100

-50

%

%

%

%

%

%

0

0

$0

%

%

1

0

0

$0

%

%

-100 %

%

%

%

%

Business with Land & Building

Units Listed 11

Units Sold 3

Sell/List Ratio 27



Price Ratio 85

Days To Sell 417


%

%

9

2

22

$3,200,000

$1,600,000

84

224

60

%

%

22

50

-7

-38

86

18

%

%

%

%

%

%

27

7

26

$4,717,522

$673,932

84

251

%

%

25

8

32

$4,229,938

$528,742

86

121

%

%

8

-13

12

27

107

%

%

%

%

%



March 2015

Current Month


Year To Date


Business Only

Units Listed 6

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

7

5

71

$889,900

$177,980

94

205

72

%

%

-14

-100

-100

-14

%

%

%

%

%

%

21

5

24

$830,500

$166,100

97

121

%

%

30

10

33

$1,430,900

$143,090

94

234

%

%

-30

-50

-42

16

-48

%

%

%

%

%

Motel/Hotel

Units Listed 1

Units Sold 2

Sell/List Ratio 200


Average Price / Unit $1,470,000

Price Ratio 72

Days To Sell 532


%

%

2

0

0

$0

14

%

%

-50

-36

%

%

%

%

%

%

4

2

50

$2,940,000

$1,470,000

72

532

%

%

4

-1

-25

-$3,800,000

$3,800,000

83

%

%

0

-300

-177

-61

%

%

%

%

%

Lease - Office

Units Listed 1

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

1

0

0

$0

30

%

%

0

13

%

%

%

%

%

%

8

0

0

$0

%

%

4

0

0

$0

%

%

100 %

%

%

%

%

Lease - Retail

Units Listed 6

Units Sold 1

Sell/List Ratio 17

Sales Dollars $24

Average Price / Unit $24

Price Ratio

Days To Sell 400


%

%

8

0

0

$0

39

%

%

-25

-36

%

%

%

%

%

%

13

3

23

$89

$30

167

%

%

18

3

17

$57

$19

77

%

%

-28

0

58

58

118

%

%

%

%

%



March 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


%

%

1

0

0

$0

1

%

%

-100

-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


%

%

1

0

0

$0

1

%

%

0

400

%

%

%

%

%

%

2

0

0

$0

%

%

1

0

0

$0

%

%

100 %

%

%

%

%

Lease - Other

Units Listed 6

Units Sold 3

Sell/List Ratio 50


Average Price / Unit $418

Price Ratio 84

Days To Sell 279


%

%

4

1

25

$11

$11

185

52

%

%

50

200

11105

3635

51

-17

%

%

%

%

%

%

13

5

38

$1,289

$258

86

224

%

%

27

2

7

$28

$14

197

%

%

-52

150

4471

1728

14

%

%

%

%

%

Commercial Land

Units Listed 4

Units Sold 1

Sell/List Ratio 25



Price Ratio 100

Days To Sell 806


%

%

6

0

0

$0

60

%

%

-33

-43

%

%

%

%

%

%

14

6

43

$9,015,000

$1,502,500

88

293

%

%

17

0

0

$0

%

%

-18 %

%

%

%

%



March 2015

Current Month


Year To Date


Units Listed 1448

Units Sold 734

Sell/List Ratio 51



Price Ratio 97

Days To Sell 62


%

%

Grand Totals

1286

575

45

$283,778,230

$493,527

97

73

4050

%

%

13

28

30

2

-15

-7

%

%

%

%

%

%

3583

1627

45

$799,404,230

$491,336

97

72

%

%

3440

1329

39

$640,386,509

$481,856

97

78

%

%

4

22

25

2

-8

%

%

%

%

%


Wednesday, April 01, 2015

March 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 - March

393

187

72

20

703

424

734

31

3,769

285

139

57

14

518

308

542

23

3,480

283

158

68

12

548

310

575

27

4,050

$624,093

$330,062

$446,411

$84,520

$617,642

$535,856

$570,000

$278,000

$391,000

$72,250

$570,000

$573,000

$611,146

$309,022

$399,062

$122,554

$605,841

$540,109

$562,000

$295,000

$380,000

$107,000

$559,925

$459,000

$632,751

$293,141

$411,375

$119,658

$624,751

$540,896

$529,950

$283,200

$374,500

$119,950

$529,900

$458,900

37.9%

34.5%

26.3%

42.9%

35.7%

37.7%

35.4%

34.8%

8.3%

38.9%

18.4%

5.9%

66.7%

28.3%

36.8%

27.7%

14.8%

-6.9%

2.1%

6.8%

11.9%

-31.0%

1.9%

-0.8%

-1.4%

12.6%

8.5%

-29.4%

-1.1%

-0.9%

1.4%

-5.8%

2.9%

-32.5%

1.8%

24.8%

7.6%

-1.8%

4.4%

-39.8%

7.6%

24.9%

2015 - February 2014 - March

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


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Estate Board President Guy Crozier says. “And …Another Busy Month for the Victoria Real Estate...

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