Number of Listings Vs Number of Sales Compared in Greater Victoria

By
Real Estate Agent with 1 PERCENT REALTY, Victoria BC www.1percentrealtyvictoria.com

 Number of Listings Vs Number of Sales Compared in Greater Victoria

Victoria, Saanich, Esquimalt, Real Estate Investing, Moving To VictoriaReviewing the "spread" (or difference) between the Number of Property Listings vs the Number of Property Sales in any one area and for any specific property type over a given period is one of the most important ways to gauge the strength and stability of the Local Greater Victoria  Real Estate Market.

For this article we compared the number of listing for sale and the number of listings sold for the 3 key property types (Single Family homes, Condominiums, 1/2 duplex & town-homes combined) over the past 12 months for the Main districts in the Greater Victoria Area (Victoria, Saanich, Sidney, North Saanich, Central Saanich, Oak Bay, Esquimalt, View Royal, Langford, Colwood, Metchosin, Highlands, Sooke)

We know that even in the hottest market place not every property sells, so we have included a quick indicator what would be considered a Hot, Stable and Slow Market

  • In a Hot to Very Hot market we would expect to be selling more than 70% up to 85% of the available properties any thing higher would be considered extreme. 
  • Hence in an more healthy and average market we expect that about 50 % to 70 % of the available properties to sell from the inventory
  • A below average to slow market would be identified by selling less than 50 % of the available properties for sale.
  • Number of Listings sold less than 30% of the available properties for sales would be considered extremely slow.

As you will notice by reviewing the various districts,  there are very significant differences from area to area as to how relatively active to slow some may appear.

It is important to note that some areas may be seeing substantial numbers of new construction (Langford, Sooke, Colwood for example) that may skew the data somewhat even over a one year sample.

We would not suggest to use this information to establish market value and or expected time to sell any one property as any one property never can never be appropriately be represented in large samples like the ones used in the information below.

If you have any questions about the information in this article and or how this information can be used to your full advantage please be sure to contact Peter and Linda Pfann, and it will be our pleasure to answer all your questions.

There are certainly some indicators that can be gleaned from this information, that we will share with you in some of our future articles, but here are some highlights:

  • Obviously some Districts are consistently selling higher ratio's of the available inventory, indicating preference by the buyers, which may have a large variety of reasons.
    • Proximity and commuting time and cost to Employment
    • Reputation, Perception and Image
    • Sheer number of New construction
    • Access to Schools, Services and other Amenities
  • Some Property Types are doing better overall than others.
  • Most importantly, to generalize the market conditions in the Greater Victoria Area would be a mistake, as the differences between Districts and Property types are startling to say the leas

Greater Victoria Districts Single Family Home Listings versus Single Family Home Sales Compared
Greater Victoria SFD listings and sales compared

District New Listings, Number of Sales, Number of % sold
Victoria 2234 1087 48.66%
Saanich East 1573 889 56.52%
Langford 1503 552 36.73%
Sooke 935 299 31.98%
Saanich West 748 410 54.81%
Central Saanich 518 247 47.68%
Esquimalt 513 205 39.96%
Colwood 511 214 41.88%
Sidney 499 233 46.69%
Oak Bay 446 248 55.61%


Greater Victoria Districts Condominium Listings versus Condominium Sales Compared

Greater Victoria condo's listings and sales compared

District New Listings, Number of Sales, Number of % Sold
Victoria 1356 635 46.8%
Langford 402 154 38.3%
Saanich East 360 210 58.3%
Victoria West 246 97 39.4%
Esquimalt 236 73 30.9%
Sidney 193 91 47.2%
Saanich West 143 86 60.1%
View Royal 118 25 21.2%
Oak Bay 90 47 52.2%
Colwood 84 25 29.8%


Greater Victoria Districts Town-homes & 1/2 Duplexes Listings versus Town-homes & 1/2 Duplexes Sales Compared
Greater Victoria townhomes and 1/2 duplexes listings and sales compared

District New Listings, Number of Sales, Number of % Sold 
Victoria 297 133 44.8%
Langford 228 62 27.2%
Saanich East 212 118 55.7%
Sooke 177 52 29.4%
Sidney 133 60 45.1%
Colwood 111 51 45.9%
Central Saanich 103 50 48.5%
Saanich West 89 57 64.0%
Esquimalt 87 42 48.3%
View Royal 83 39 47.0%
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the chair to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Real Estate Market Trends
Location:
British Columbia Capital Area Victoria Greater Victoria
Groups:
Addicted to Active Rain
Canada has Arrived!!
Local Expert
Most Active ActiveRain Blogging Agents
WeBlog Anything (almost)!
Tags:
listings
sales compared
greater victoria
victoria
saanich
oak bay
esquimalt
sooke
langford
colwood
market update

Comments 0 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the car to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the envelope to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Ambassador
525,419

Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!

Talk To Peter 250-213-9490 www.pay-lessrealty.com
Learn How Much You'll Save Buying & or Selling
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information


Visit Us on Facebook, Twitter, Linkedin, YouTube, Active Rain, Scribd

Visit Us on Facebook    Follow Us on Twitter    Talk to Us at Linkedin

Visit our Blog on Active Rain    Get Our Information on Scribd    See us on YouTube

 

Bookmark and Share

&
Locations of visitors to this page