VREB News Release_Victoria March 2014 Real Estate Update

8/21/2019 VREB News Release_Victoria March 2014 Real Estate Update

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Spring sales continue to rise in the Victoria market

June 2, 2014, Victoria BC The Victoria Real Estate Board today released its monthlyreport on real estate activity in the Victoria area for May 2014.

714 properties sold in the region in the month of May 2014 compared to 659 in May2013 an increase of over 8% year over year. Compared to last month in April, therewere 7.5% more sales.

We are pleased to see sales numbers continue to rise, Victoria Real Estate BoardPresident Tim Ayres says. The last time we saw this many sales in a month was in2010, which was also the last time we saw a busy market. The increase may beattributed to the extended period of low mortgage rates we are seeing, and to the great

diversity of properties currently available. We saw 19 single family homes sell for overone million dollars this month, and we saw 29 single family homes sell for under$350,000. The market has something for every home buyer right now.

In May 2013 the MLS Home Price Index benchmark price for a single family home inGreater Victoria was $493,600. This year in May the benchmark home value reached$498,500 a modest 1% increase year over year. The Peninsula benchmark homevalue saw a 0.7% increase while the Westshore saw a very minor decrease of 0.1%.Townhouses in Greater Victoria show the most noteworthy change with an increase of4.2% year over year.

Were seeing a modest increase in property values overall in the Victoria area addsPresident Ayres and the balanced conditions we talked about last month are still in


2/28

President Ayres and the balanced conditions we talked about last month are still in

May 2014

Statistics Package for Media

New MLS listings and total MLS sales - entire region

The Victoria Real Estate Board uses

MLS HPI benchmark and MLS HPI index values

Victoria Core, Single Family Home

The red line is thetotal number ofsales per monthfrom the entireVREB district.

The blue barsrepresent thenumber of totalmonthly listings.

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

May2012

Jun2012

Jul2012

Aug2012

Sep2012

Oct2012

Nov2012

Dec2012

Jan2013

Feb2013

Mar2013

Apr2013

May2013

Jun2013

Jul2013

Aug2013

Sep2013

Oct2013

Nov2013

Dec2013

Jan2014

Feb2014

Mar2014

Apr2014

May2014

Listings Sales


3/28

Monday,June02,2014

PreviousP

eriodsCompari

sonofUnitSales,AveragePrice

sandMe

SalesbyPropertyType

SingleF

amilyGreaterVictoria

SingleF

amilyOtherAreas

SingleF

amilyTotalAllAreas

Condos

Townhouses

Manufac

turedHomes

TotalRe

sidential

TotalSa

les

ActiveL

istings

Units

Median

$

Average$

LY%

LM%

LY%

LM%

LM%

2014-May

370

166

94

16

687

411

714

41

4,672

$618,523

$312,656

$397,726

$147,966

$606,709

$500,089

$533,500

$271,250

$389,000

$135,250

$529,000

$462,500

2.5%

1.8%

44.6%

23.1%

7.0%

2.5%

7.5%

2.5%

6.1%

6.9%

16.9%

38.2%

-11.1%

12.3%

7.0%

8.3%

7.9%

-2.3%

-3.9%

2.9%

-2.1%

18.0%

-2.1%

23.8%

9.3%

-1.7%

-8.0%

37.2%

8.4%

-0.7%

-3.2%

1.4%

5.1%

23.0%

-2.9%

23.3%

--5 2

Legend

Units:netnumberoflistingssold

LM%

:percentagechangesinceLastMonth

LY%

:percentagechangesinceThisMo

nthLastYear

Average$:averagesellingprice

Med

ian$:mediansellingprice

ActiveListings:totallistingsonthemarketatmidnightonthelastdayofthe

month

ThisMonth

VictoriaRealEstateBoard

MultipleListing

Service


4/28

VictoriaRealEstateBoard

Commo

nlyQuotedBenchmarkHome

Ma

y2014

Ben

chmark

Price

April2014

Benchmark

Price

May2013

B

enchmark

Price

SingleFamilyBenchmarkHome:G

reaterVictoria

$4

98,500

$494,300

$493,600

SingleFamilyBenchmarkHome:C

ore

$5

68,500

$560,100

$557,400

SingleFamilyBenchmarkHome:W

estshore

$4

15,900

$417,100

$416,200

SingleFamilyBenchmarkHome:P

eninsula

$5

27,900

$519,100

$524,000

CondoB

enchmarkHome:Greater

Victoria

$2

82,800

$283,500

$287,100

Townho

useBenchmarkHome:Gr

eaterVictoria

$4

08,100

$402,600

$391,600

LY%:

PreviousPeriodsComparison

ofMLSHPIBenc

hmarkPr

Legend

M

ay2014

April2014

M

ay2013

Pe

rcentagecha

Pe

rcentagecha

CurrentMonth:

LastMonth:

LastYear:

LM%:


5/28

May 2014 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

$951,800 $875,100$818,000$815,300

$797,600$783,200

$782,300 $778,900

$771,100

$770,200

$762,200$754,000 $737,400 $719,700

$676,000

$672,700

$626,000

$623,600 $619,800$619,800

$613,900

$612,400

$607,800

$607,800

$602,100

$601,500 $593,300 $590,100

$589,100

$588,300

$587,800

$576,500 $574,900$568,200 $565,000

$562,800

$561,500

$552,400

$552,000

$547,300 $540,600 $539,200

$537,200

$534,000 $531,400

$527,900

$523,300

$519,500$517,100 $512,600

$512,200

$511,900

$511,600

$510,100 $506,900

$502,400

$501,800$499,700

$499,000

$498,500

$497,200

$494,900

$494,900

$494,300 $493,600

$492,500

$491,200

$489,000

$483,900

$483,400 $482,300

$481,900$476,800

$476,400

$463,400

$462,800

$460,500

$456,400$454,700

$453,300

$449,000

$445,800

$444,400

$443,800 $440,300

$438,500

$438,100

$436,400

$435,500

$435,500

$432,800$430,500

$430,200

$429,700

$428,200

$424,100

$422,500

$420,100

$419,700$419,100

$417,200

$416,700

$415,700

$415,300 $413,000

$412,900

$409,600

$406,800

$401,900

$396,900

$394,300

$390,500

$378,800

$372,000

$370,500

$369,900

$369,800

$364,400

$363,100

$363,000

$359,700

$357,800 $357,000

$356,000

$353,300

$351,600

$350,000

$349,700$346,700

$344,800

$341,800

$341,500

$339,500

$333,900

$329,200 $327,800

$321,400

$314,800

$308,200

$297,300

$293,200

$282,300

$275,900

$272,800

Benchmark by Timeframe and Property Type: Single Family - All

HPI or Benchmark

(Applies to all tabs)

HPI

Benchmark Property TypeSingle Family - All

AreaVREB Distr ict Summary

Source: Victoria Real Estate Board


6/28


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

157.3

156.7

156.1

155.7

155.2

154.9

154.0

152.2

152.2

152.1151.4 150.1 149.8

149.5

149.4

149.4

148.9

148.8

148.2

148.0

147.6

147.5

147.1

147.1

147.1

147.0

146.5

146.3

146.2

146.2

146.1

145.8

145.8

145.7

145.7

145.6

144.9

144.8

144.5

144.4

144.3

144.2

144.1

143.7

143.3

142.8

142.3

142.0

141.9

141.9

141.8

141.6

141.5

141.5

141.1

140.9

140.6

140.1

139.9 139.7

139.7

139.6

139.5138.9

138.9

138.6

138.5

138.4

138.1

138.1

138.1

137.6

137.3

137.0

136.9

136.8

136.6

136.5

136.2

136.0

136.0

135.6

135.5

135.1

134.9

134.3

134.2

134.1

133.6

133.2

133.1

132.7

132.5

132.1

132.0

131.6

130.9

130.9

130.5

130.4

130.2

130.1

130.1

130.1

130.1

129.8

129.7 129.4

128.9 128.2

127.6

127.1

126.9

126.4

125.3

123.4

121.6121.2

119.4 117.6

116.3

115.8

115.8114.5

112.3 111.8 100.0

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

HPI or Benchmark


HPI

Benchmark Property TypeSingle Family - All

AreaVREB District Summary



7/28


Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Langford

Colwood

Sidney

$469,200$467,900$462,400$450,200$447,200 $445,800 $432,600

$354,000 $344,600

$343,700

$338,800

$332,900

$332,700 $331,300

$328,200

$325,900 $324,500

$322,500

$322,000

$321,800

$317,300

$316,100 $313,600$311,400

$306,900

$304,700$296,300$295,200

$292,400$287,100

$286,500

$283,500$282,800

$282,000 $281,100

$280,600

$280,200

$277,200

$273,200$269,800$268,800 $268,300 $267,500

$265,500 $264,000$259,900

$259,100

$258,900$257,800$257,100

$251,400

$249,700

$249,600

$248,100

$247,700

$246,600

$245,600 $243,700

$242,300

$241,200

$239,700 $239,500

$239,400$239,200

$239,000

$238,500

$237,300 $235,100

$234,000 $233,700

$233,000

$231,300

$230,000 $224,500

$222,900

$220,000$216,800$212,300 $211,400 $211,300$203,500

$202,300

$189,900

$186,800

$165,400

$165,400

$155,700

$144,800

Benchmark by Timeframe and Property Type: Condo Apartment

HPI or Benchmark


HPI

Benchmark Property TypeCondo Apartment




8/28


Victoria REB

Victoria

Victoria West

Oak Bay

Esquimalt

View Royal

Saanich East

Saanich West

Langford

Colwood

Sidney

169.4

167.3

160.4 159.1153.5 152.4

152.0

151.9

151.7

151.0

150.9

150.9

149.7

148.5

147.7

147.5

147.3

146.6 146.0 145.9

145.8

144.9 144.8

144.7144.6

144.5

144.2

144.2

143.9

143.9

142.8

142.7

142.2

142.1

142.1

141.9

141.6

141.5

141.3

141.3

141.3 140.9

140.5

140.1

139.9

139.8

139.3

139.1

139.1

138.9

138.7

138.6

138.5

138.2

138.1

138.0137.6

137.0

136.5

136.5

136.2

134.8

132.9

132.3

132.0

132.0

131.7

131.6

130.0

128.1

127.7

127.6

127.4 126.4125.5

121.9 121.5 100.0

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

HPI or Benchmark


HPI

Benchmark Property TypeCondo Apartment




9/28


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

$583,800 $539,500$529,000

$528,800

$527,000 $523,000$518,600

$505,100

$500,000

$490,700 $489,600 $488,900$484,200 $483,500

$482,500$450,900

$439,400

$439,100

$436,000

$428,700

$428,500 $421,000

$419,900

$419,800

$417,900 $413,900

$411,300

$410,700

$410,400

$408,300

$408,100

$408,100

$407,500

$406,300

$406,000

$405,900

$403,500

$402,900

$402,600

$402,500 $401,900

$401,500

$398,800

$397,800

$397,100

$396,200

$393,200

$392,400

$391,600

$391,000

$390,100

$389,200

$389,000

$388,900

$385,600

$380,800

$379,100

$378,700

$373,400

$372,500

$371,600

$371,500

$371,400

$367,200$366,300

$366,200

$365,900$361,500

$361,400

$360,200

$360,100

$360,100

$357,100

$357,000

$355,800

$349,100 $348,400$348,400

$348,100

$347,300

$346,700

$346,500

$345,300

$343,900 $342,800

$342,200

$340,000

$332,900 $332,100

$329,600

$327,800

$327,200

$327,200

$322,500

$322,100

$321,700 $320,900$320,400

$305,500

$304,200$302,200

$298,800$298,600 $297,500

$294,000

$292,200

$290,100

$289,000

$286,800

$286,400

$286,000

$285,400

$283,500

$278,900

$277,800

$254,900

$253,100

$252,200

$221,300

$189,400

Benchmark by Timeframe and Property Type: Townhouse

HPI or Benchmark


HPI

Benchmark Property TypeTow nhouse




10/28


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 165.1

161.3

161.1

157.8

157.7

157.7

157.4157.4

157.1

156.5 155.8

154.3

154.3

153.6

153.6

153.3

152.7

152.6150.7

150.3

149.8

148.9

148.6

148.3

147.8

147.8

147.3

147.2

146.8

146.6

146.1

146.1

145.8

145.7

144.9

144.7143.6

143.6 143.3

142.8

142.5

141.8

141.1

140.7

140.3

140.2

139.1

138.9

138.8

138.6

138.5

138.4

138.1

137.2

137.0

136.9

136.9 136.7

136.2

136.2

136.0

135.9 135.7

135.7

135.0

134.4

134.4

134.2

134.1

133.9

133.8

133.7

133.1

132.8

132.0 131.7

131.7

131.3 130.8

130.1

129.9

129.8

129.6

129.5129.2

128.7

128.5

127.7

127.1

127.1

127.0

126.8126.6

125.3

124.1

122.2

121.4

121.3 120.9

120.9120.4

120.2119.4

114.3114.1

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

HPI or Benchmark


HPI

Benchmark Property TypeTownhouse




11/28

Area

Property Type

SingleFamily

-All

SingleFamily

-1Storey

SingleFamily

-2Storey

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

Core, Single Family - All

Peninsula, Single Family - All

Victoria REB, Single Family - All

Westshore, Single Family - All

Select Date Range:All values

HPI or Benchmark


HPI

Benchmark

Benchmark Performance over Time

AreaVREB Area Summary


Select the red marker(s) from the Area/Property Type Se-

lection Tool Matrix on the right to graph your selection.

Jan2006

Jan2008

Jan2010

Jan2012

Jan2014

Benchmark($)

300,000

400,000

500,000

600,000


12/28

Area

Property Type

SingleFamily

-All

SingleFamily

-1Storey

SingleFamily

-2Storey

Townhouse

Condo

Apartment

Composite

Victoria REB

Core

Westshore

Peninsula

Gulf Islands

Malahat & Area




Core, Condo Apartment

Peninsula, Condo Apartment

Victoria REB, Condo Apartment

Westshore, Condo Apartment


HPI or Benchmark


HPI

Benchmark






Jan2006

Jan2008

Jan2010

Jan2012

Jan2014

Benchmark($)

200,000

250,000

300,000

350,000


13/28

Area

Property Type

SingleFamily

-All

SingleFamily

-1Storey

SingleFamily

-2Storey

Townhouse

Condo

Apartment

Composite

Victoria REB

Core

Westshore

Peninsula

Gulf Islands

Malahat & Area




Core, Townhouse

Peninsula, Townhouse

Victoria REB, Townhouse

Westshore, Townhouse


HPI or Benchmark


HPI

Benchmark






Jan2006

Jan2008

Jan2010

Jan2012

Jan2014

Benchmark($)

300,000

350,000

400,000

450,000


14/28

Area

Property Type

SingleFamily

-All

SingleFamily

-1Storey

SingleFamily

-2Storey

Townhouse

Condo

Apartment

Composite

Victoria REB

Core

Westshore

Peninsula

Gulf Islands

Malahat & Area




Victoria REB, Condo Apartment

Victoria REB, Single Family - All

Victoria REB, Townhouse


HPI or Benchmark


HPI

Benchmark






Jan2006

Jan2008

Jan2010

Jan2012

Jan2014

Benchmark($)

200,000

300,000

400,000

500,000


15/28

Monthly Sales SummaryMonday, June 2, 2014

Units Total Volume

May 2014

Region

District

ResidentialSingle Family

Greater Victoria

Victoria 39 $26,057,200

Victoria West 3 $1,585,000

Oak Bay 30 $26,408,367

Esquimalt 16 $8,503,800

View Royal 12 $7,079,566

Saanich East 78 $49,462,084Saanich West 39 $21,262,949

Central Saanich 14 $8,882,388

North Saanich 14 $9,370,300

Sidney 13 $5,739,700

Colwood 29 $13,786,950

Langford 45 $20,864,779

Metchosin 3 $1,666,400

Sooke 21 $7,944,200

Waterfront (all districts) 14 $20,240,000

Total Greater Victoria 370 $228,853,683

Other Areas

Shawnigan Lake / Malahat 4 $1,563,400

Gulf Islands 21 $8,449,550

UpIsland / Mainland 5 $2,079,900


Total Other Areas 41 $20,503,650

Total Single Family 411 $249,357,333

Condominium

Greater Victoria


16/28


Units Total Volume

May 2014

Region

District

TownhouseGreater Victoria

Victoria 3 $1,168,000

Victoria West 1 $273,000

Oak Bay 2 $1,134,000

Esquimalt 7 $2,525,900

View Royal 7 $2,749,900

Saanich East 19 $9,945,800

Saanich West 9 $3,584,100Central Saanich 7 $2,401,500

North Saanich 4 $1,947,200

Sidney 14 $5,822,400

Colwood 3 $1,052,900

Langford 8 $2,683,600

Sooke 2 $504,000



Other Areas

Gulf Islands 3 $362,000

UpIsland / Mainland 1 $143,000

Waterfront (all districts) 1 $26,000

Total Other Areas 5 $531,000

Total Townhouse 94 $37,386,200

Manufactured Homes

Greater Victoria

View Royal 4 $738,500

Central Saanich 4 $691,000

Langford 3 $201,950


17/28


Units Total Volume

May 2014

Region

District

Grand Totals 714 $353,571,039

13 $2,137,431Other Commercial Properties

Other Property

Lots & Acreage (Incl Wtrfrnt )

Greater Victoria

Oak Bay 2 $7,100,000

View Royal 2 $628,000

Langford 5 $972,500

Sooke 1 $590,100


Other Areas

Shawnigan Lake / Malahat 2 $476,190

Gulf Islands 1 $155,000

UpIsland / Mainland 1 $500,000

Total Other Areas 4 $1,131,190

Total Lots & Acreage (Incl Wtrfrnt) 14 $10,421,790


18/28

Active List ings, New Listings and Sales May 2014Monday, June 02, 2014

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

May2012

Jun2012

Jul2012

Aug2012

Sep2012

Oct2012

Nov2012

Dec2012

Jan2013

Feb2013

Mar2013

Apr2013

May2013

Jun2013

Jul2013

Aug2013

Sep2013

Oct2013

Nov2013

Dec2013

Jan2014

Feb2014

Mar2014

Apr2014

May2014

Total Active MLS List ings

1,600

1,800

2,000

o a ew s ngs an o a a es


19/28

Sales to Active Listings Ratio May 2014Monday, June 02, 2014

4%

6%

8%

10%

12%14%

16%

18%

20%

22%

24%

May2012

Jun2012

Jul2012

Aug2012

Sep2012

Oct2012

Nov2012

Dec2012

Jan2013

Feb2013

Mar2013

Apr2013

May2013

Jun2013

Jul2013

Aug2013

Sep2013

Oct2013

Nov2013

Dec2013

Jan2014

Feb2014

Mar2014

Apr2014

May2014

Balanced Market

The Sales to Active Listings Ratio

-each of the last 25 months.

The active listing count and the sales count can be viewed as indicators of housing supply anddemand 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 pressureon prices.


20/28

Monthly Comparative Activity By Property TypeMonday, June 02, 2014

May 2014

Current Month

This Year % ChangeLast Year

Year To Date


Single Family - Residential

Units Listed 686

Units Sold 355

Sell/List Ratio 52

Sales Dollars $203,442,583

Average Price / Unit $573,078

Price Ratio 98

Days To Sell 54

Active Listings at Month End 1484

%

%

612

337

55

$185,341,099

$549,974

97

57

1533

%

%

12

5

10

4

-6

-3

%

%

%

%

%

%

2753

1300

47

$745,272,332

$573,286

98

57

%

%

2621

1192

45

$668,328,979

$560,679

97

62

%

%

5

9

12

2

-8

%

%

%

%

%

Single Family - Residential Waterfront

Units Listed 56

Units Sold 25

Sell/List Ratio 45


Average Price / Unit $1,146,032

Price Ratio 92

Days To Sell 96


%

%

61

18

30

$15,310,500

$850,583

93

105

288

%

%

-8

39

87

35

-9

10

%

%

%

%

%

%

284

81

29

$92,532,839

$1,142,381

94

118

%

%

259

67

26

$73,412,500

$1,095,709

92

137

%

%

10

21

26

4

-14

%

%

%

%

%

Single Family - Residential Acreage

Units Listed 98

Units Sold 24

Sell/List Ratio 24



Price Ratio 97

Days To Sell 86Active Listings at Month End 356

%

%

72

18

25

$9,800,500

$544,472

94

94354

%

%

36

33

43

7

-81

%

%

%

%

%

%

362

114

31

$79,284,470

$695,478

96

107

%

%

359

102

28

$61,391,600

$601,878

95

107

%

%

1

12

29

16

0

%

%

%

%

%

Condominium

Units Listed 311

Units Sold 166

Sell/List Ratio 53



Price Ratio 97

Days To Sell 65


%

%

338

142

42

$45,158,371

$318,017

97

69

1053

%

%

-8

17

15

-2

-5

-12

%

%

%

%

%

%

1506

686

46

$217,917,989

$317,665

97

71

%

%

1460

605

41

$178,623,606

$295,246

96

81

%

%

3

13

22

8

-12

%

%

%

%

%

1Victoria Real Estate Board Multiple Listing Service


21/28


May 2014

Current Month


Year To Date


Townhouse

Units Listed 159

Units Sold 94

Sell/List Ratio 59



Price Ratio 98

Days To Sell 64


%

%

138

68

49

$29,391,850

$432,233

97

79

429

%

%

15

38

27

-8

-18

-12

%

%

%

%

%

%

626

299

48

$122,110,000

$408,395

98

65

%

%

605

262

43

$109,576,890

$418,232

97

82

%

%

3

14

11

-2

-21

%

%

%

%

%

Strata Duplex (Up and Down)

Units Listed 1

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0

Average Price / Unit

Price Ratio

Days To Sell


%

%

1

1

100

$362,000

$362,000

98

90

5

%

%

0

-100

-100

-20

%

%

%

%

%

%

5

2

40

$521,000

$260,500

95

89

%

%

8

2

25

$729,500

$364,750

99

53

%

%

-38

0

-29

-29

70

%

%

%

%

%

Strata Duplex (Side by Side)

Units Listed 15

Units Sold 6

Sell/List Ratio 40



Price Ratio 97


%

%

11

7

64

$2,150,000

$307,143

96

9732

%

%

36

-14

24

45

-336

%

%

%

%

%

%

60

29

48

$12,486,150

$430,557

97

60

%

%

55

21

38

$7,586,500

$361,262

97

68

%

%

9

38

65

19

-11

%

%

%

%

%

Strata Duplex (Front and Back)

Units Listed 8

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

7

0

0

$0

12

%

%

14

8

%

%

%

%

%

%

20

7

35

$2,527,500

$361,071

97

68

%

%

18

2

11

$809,500

$404,750

98

68

%

%

11

250

212

-11

0

%

%

%

%

%



22/28


May 2014

Current Month


Year To Date


Recreational

Units Listed 1

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

1

0

0

$0

30

%

%

0

-43

%

%

%

%

%

%

13

3

23

$520,000

$173,333

94

328

%

%

8

0

0

$0

%

%

63 %

%

%

%

%

Manufactured Home

Units Listed 33

Units Sold 16

Sell/List Ratio 48



Price Ratio 95

Days To Sell 87


%

%

37

18

49

$1,941,500

$107,861

91

145

137

%

%

-11

-11

22

37

-40

-10

%

%

%

%

%

%

139

67

48

$8,531,500

$127,336

95

108

%

%

155

67

43

$6,938,500

$103,560

91

129

%

%

-10

0

23

23

-17

%

%

%

%

%

Residential Lots

Units Listed 40

Units Sold 6

Sell/List Ratio 15



Price Ratio 96


%

%

41

19

46

$6,237,155

$328,271

143

253220

%

%

-2

-68

-68

0

-4813

%

%

%

%

%

%

187

33

18

$8,419,150

$255,126

97

161

%

%

179

37

21

$12,137,317

$328,036

126

197

%

%

4

-11

-31

-22

-18

%

%

%

%

%

Residential Lots - Waterfront

Units Listed 11

Units Sold 1

Sell/List Ratio 9

Sales Dollars $423,000


Price Ratio 98

Days To Sell 20


%

%

6

2

33

$896,650

$448,325

96

253

46

%

%

83

-50

-53

-6

-92

2

%

%

%

%

%

%

33

3

9

$857,900

$285,967

95

40

%

%

30

4

13

$1,436,150

$359,038

96

208

%

%

10

-25

-40

-20

-81

%

%

%

%

%



23/28


May 2014

Current Month


Year To Date


Residential Acreage

Units Listed 30

Units Sold 4

Sell/List Ratio 13



Price Ratio 95

Days To Sell 124


%

%

14

6

43

$1,531,100

$255,183

98

240

173

%

%

114

-33

-40

-9

-49

30

%

%

%

%

%

%

132

15

11

$3,570,590

$238,039

91

162

%

%

90

11

12

$2,721,200

$247,382

85

162

%

%

47

36

31

-4

0

%

%

%

%

%

Residential Acreage - Waterfront

Units Listed 8

Units Sold 3

Sell/List Ratio 38


Average Price / Unit $2,368,333

Price Ratio 78

Days To Sell 161


%

%

4

3

75

$650,000

$216,667

85

136

64

%

%

100

0

993

993

18

11

%

%

%

%

%

%

41

8

20

$12,158,000

$1,519,750

83

148

%

%

26

3

12

$650,000

$216,667

85

136

%

%

58

167

1770

601

9

%

%

%

%

%

Revenue - Duplex/Triplex

Units Listed 7

Units Sold 1

Sell/List Ratio 14



Price Ratio 97


%

%

4

3

75

$1,925,000

$641,667

98

6714

%

%

75

-67

-70

-11

20950

%

%

%

%

%

%

30

6

20

$3,837,500

$639,583

97

65

%

%

19

10

53

$6,204,500

$620,450

96

75

%

%

58

-40

-38

3

-14

%

%

%

%

%

Revenue - Multi Units

Units Listed 1

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

3

2

67

$1,670,000

$835,000

90

260

11

%

%

-67

-100

-100

64

%

%

%

%

%

%

12

4

33

$3,689,000

$922,250

96

178

%

%

13

4

31

$2,976,100

$744,025

88

164

%

%

-8

0

24

24

9

%

%

%

%

%



24/28


May 2014

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

0

$0

5

%

%

0

%

%

%

%

%

%

6

1

17

$4,300,000

$4,300,000

144

82

%

%

5

1

20

$1,600,000

$1,600,000

82

259

%

%

20

0

169

169

-68

%

%

%

%

%

Revenue - Commercial

Units Listed 6

Units Sold 1

Sell/List Ratio 17



Price Ratio 79

Days To Sell 452


%

%

9

1

11

$148,000

$148,000

82

110

55

%

%

-33

0

72

72

311

7

%

%

%

%

%

%

44

9

20

$6,563,500

$729,278

74

158

%

%

35

10

29

$4,727,000

$472,700

89

166

%

%

26

-10

39

54

-5

%

%

%

%

%

Revenue - Industrial

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To SellActive Listings at Month End 1

%

%

1

0

0

$0

2

%

%

-100

-50

%

%

%

%

%

%

1

0

0

$0

%

%

2

1

50

$870,000

$870,000

79

153

%

%

-50

-100

-100

%

%

%

%

%

Business with Land & Building

Units Listed 9

Units Sold 3

Sell/List Ratio 33



Price Ratio 94

Days To Sell 91


%

%

17

3

18

$434,912

$144,971

85

190

67

%

%

-47

0

222

222

-52

3

%

%

%

%

%

%

54

13

24

$6,056,458

$465,881

88

115

%

%

48

7

15

$5,859,812

$837,116

94

283

%

%

13

86

3

-44

-59

%

%

%

%

%



25/28


May 2014

Current Month


Year To Date


Business Only

Units Listed 15

Units Sold 4

Sell/List Ratio 27



Price Ratio 99

Days To Sell 145


%

%

10

5

50

$433,000

$86,600

88

297

75

%

%

50

-20

11

39

-51

5

%

%

%

%

%

%

56

15

27

$1,942,900

$129,527

92

217

%

%

60

11

18

$1,309,500

$119,045

85

207

%

%

-7

36

48

9

5

%

%

%

%

%

Motel/Hotel

Units Listed 3

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To Sell


%

%

2

0

0

$0

11

%

%

50

27

%

%

%

%

%

%

8

-1

-13

-$3,800,000

$3,800,000

83

%

%

7

0

0

$0

%

%

14 %

%

%

%

%

Lease - Office

Units Listed 4

Units Sold 0

Sell/List Ratio 0

Sales Dollars $0


Price Ratio

Days To SellActive Listings at Month End 29

%

%

5

0

0

$0

35

%

%

-20

-17

%

%

%

%

%

%

14

1

7

$15

$15

287

%

%

24

1

4

$10

$10

329

%

%

-42

0

45

45

-13

%

%

%

%

%

Lease - Retail

Units Listed 3

Units Sold 4

Sell/List Ratio 133

Sales Dollars $919

Average Price / Unit $230

Price Ratio 97

Days To Sell 93


%

%

8

1

13

$17

$17

304

34

%

%

-63

300

5306

1251

-70

3

%

%

%

%

%

%

27

8

30

$998

$125

105

83

%

%

20

8

40

$145

$18

215

%

%

35

0

587

587

-61

%

%

%

%

%



26/28


May 2014

Current Month


Year To Date


Lease - Warehouse

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

0

0

$0

0

%

%

%

%

%

%

%

%

1

0

0

$0

%

%

0

0

$0

%

%

%

%

%

%

%

Lease - Industrial

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

0

0

$0

0

%

%

%

%

%

%

%

%

1

0

0

$0

%

%

0

0

$0

%

%

%

%

%

%

%

Lease - Other

Units Listed 4

Units Sold 1

Sell/List Ratio 25

Sales Dollars $12

Average Price / Unit $12

Price Ratio

Days To Sell 91


%

%

18

3

17

$52

$17

81

54

%

%

-78

-67

-77

-30

12

-11

%

%

%

%

%

%

37

4

11

$56

$14

146

%

%

52

12

23

$216

$18

153

%

%

-29

-67

-74

-22

-5

%

%

%

%

%

Commercial Land

Units Listed 0

Units Sold 0

Sell/List Ratio

Sales Dollars $0


Price Ratio

Days To Sell


%

%

8

2

25

$983,000

$491,500

98

233

44

%

%

-100

-100

-100

20

%

%

%

%

%

%

18

0

0

$0

%

%

28

5

18

$2,838,000

$567,600

95

153

%

%

-36

-100

-100

%

%

%

%

%



27/28


May 2014

Current Month


Year To Date


Units Listed 1509

Units Sold 714Sell/List Ratio 47



Price Ratio 97

Days To Sell 64


%

%

Grand Totals

1428

65946

$304,364,706

$461,858

97

80

4783

%

%

6

8

16

7

-19

-2

%

%

%

%

%

%

6470

270742

$1,329,299,846

$491,060

97

71

%

%

6186

244540

$1,150,727,525

$470,645

97

81

%

%

5

11

16

4

-12

%

%

%

%

%



28/28

Monday, June 02, 2014

May 2014Previous 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 AreasCondos

Townhouses

Manufactured Homes

Total Residential

Total Sales

Active Listings

Units Median$Average$LY%LM% LY%LM% LY%LM% Units Median$Average$ Units Median$Average$

2014 - May

370

166

94

16

687

411

714

41

4,672

361

163

65

13

642

401

664

40

4,404

346

142

68

18

612

384

659

38

4,783

$618,523

$312,656

$397,726

$147,966

$606,709

$500,089

$533,500

$271,250

$389,000

$135,250

$529,000

$462,500

$643,467

$303,815

$406,146

$125,346

$619,582

$404,025

$551,000

$267,500

$370,000

$110,000

$545,000

$375,000

$565,763

$318,017

$432,233

$107,861

$559,607

$503,553

$524,895

$289,500

$400,000

$87,250

$515,000

$357,000

2.5%

1.8%

44.6%

23.1%

7.0%

2.5%

7.5%

2.5%

6.1%

6.9%

16.9%

38.2%

-11.1%

12.3%

7.0%

8.3%

7.9%

-2.3%

-3.9%

2.9%

-2.1%

18.0%

-2.1%

23.8%

9.3%

-1.7%

-8.0%

37.2%

8.4%

-0.7%

-3.2%

1.4%

5.1%

23.0%

-2.9%

23.3%

1.6%

-6.3%

-2.8%

55.0%

2.7%

29.6%

2014 - April 2013 - May

Legend

Units: net number of listings soldLM%: percentage change since Last MonthLY%: percentage change since This Month Last Year

Average$: average selling priceMedian$: 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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VREB News Release_Victoria March 2014 Real Estate Update

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