Greater Victoria Real Estate Listing & Sales Market Update, April 01 - 08, 2012

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

Greater Victoria Real Estate Listing & Sales Market Update,

April 01 - 08, 2012Victoria, Esquimalt, Saanich Real Estate Market Watch

"Beacon Hill Park Victoria BC,

is A Pfanntastic Place to call Home."

Every Week Peter and Linda Pfann take a quick reading of the Greater Victoria Real Estate Market (based on MLS information) for you. Below is our overview of the Victoria Real Estate Market over the past week.

The Vancouver Island BC Communities and Areas included in this Greater Victoria Real Estate Snapshot are:
Victoria, Saanich (East and West), Central Saanich, North Saanich, Sidney, Oak Bay, Esquimalt, View Royal, Highlands, Langford, Colwood, Metchosin, Sooke, Malahat.

If you would like to receive regular updates about real estate activity in your area, or the area you would like to move to, please use our Free Victoria Homes Now Tool that offers you to receive highly personalized and detailed property and statistical information at your fingertips.

Greater Victoria Weekly Real Estate Listings & Sales Market Update  April 01 - 08, 2012,
Reported by the Victoria Real Estate Board for the Past Week.
New Listings New Listings 326
Back on the Market Back On Market 16
Added Inventory Added to Inventory (New Listings & Back on the Market) Total for the Week +342
Price Change Price Changed 160

Sale Pending

Sales Pending 123
Sold Listings Sold 74
Cancelled Listings Canceled Listings 52
Expired Listings Expired Listings 52
Reduced Inventory Inventory Removed (Canceled, Expired, Pending & Sold) Total for the Week. - 301
Victoria real estate market update Inventory Change for the week

+ 41

Greater Victoria Real Estate Listing & Sales Market Update, April 01 - 08, 2012.

For this First Week of April, and Beautiful weather, our typical spring rally is underway...with 326 new listings for the week the signs are starting "Pop Up" just like the flowers, and with 301  reported pending or completed sales for the week.  The Pattern of when Sales Complete and how this affects weekly stats repeats itsself (most sales complete and are reported at the end of the month).

It appears that the general public feels that with the lower prices, low interest rates and good supply, that the time has come to take advantage of some of the Pfanntastic Real Estate Opportunities available in the market place in Greater Victoria.

From our 2 Open Houses this weekend, Attendance at Open Houses remains very good and this further confirms a slowly improving and strengthening of confidence in our marketplace in Greater Victoria, for most areas and property types in and around the lower Vancouver Island region.

We also offer the Greater Victoria area, single family home market place reports for each community in and around Victoria. (you can read these reports here).

In short, dependent what your plans are with your real estate decisions, it is very important to consult with your trusted real estate expert to develop a strategy that will optimize your options and opprtunities. (we would like to apply to become your trusted expert).

The Number of Price Changes for the Week.......160 Price Changes in one week,(read mostly price reductions).

"Deciding on The Right Asking Price" is by far the most important decision YOU as sellers can make to ensure the sale of their property and why properties are Selling" "(or why they are not selling)."

  • It is our experience, that if sellers want to sell their property in this still softer and more fragile market, our best advise to potential home sellers is to trust your agent and the price recommendations they offer you based on their comprehensive market value evaluation.
  • If you need a 2nd opinion, please do not hesitate to contact Peter and Linda Pfann, and it will be our pleasure to complete either a summary evaluation for you (see below) or provide our 60+ page, complete evaluation report which also includes our suggestions for optimizing the marketing results for your property.

Notes on our Weekly Review statistical information:

  • If The Number of Properties Removed from the Market Exceeds the New Inventory for a longer period of time (3-4+ months) the market is active, and prices will level and eventually increase.
  • When The Number of Properties Added to the Inventory Exceeds the Number of Properties Removed from the inventory for a longer period of time (3-4+ months), the market is slowing down and prices will remain level or likely reduce.
  • Monitor our Victoria Real Estate Daily Market Watch over a period of time and you can easily see how the Victoria Real Estate Market is progressing.
  • As always it is nearly impossible to apply the generalities of the entire market place to your particular personal situation, we encourage you to always best to consult with your local real estate specialist (in Greater Victoria that would be Peter and Linda Pfann off course). It would be our pleasure and privilege to review and discuss all your plans, dreams and options, in total confidence and without obligations.

Here is a link to the Victoria Real Estate Board Statistical Reports, and published every month

Greater Victoria Real Estate Listing & Sales Market Update 

April 01 - 08, 2012

 

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Topic:
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Location:
British Columbia Capital Area Victoria Greater Victoria
Groups:
Market Reports
City & State: Listings and Market Reports
Canadian Market Reports
Market Updates
2013MarketReports
Tags:
westshore
peninsula
esquimalt
oak bay
saanich
victoria
market update
greater victoria real estate listing sales activity

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Rainmaker
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Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Peter and Linda - another Pfanntastic real estate market report for the greater Victoria real estate listing and sales.  Great analysis of the trends, as well.  Glad you had two busy open houses, it shows there are home buyers in the greater Victoria real estate market looking for that well priced home.  

Apr 09, 2012 11:23 AM #1
Rainmaker
662,446
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Detail report, looks like Victoria Real Estate market is doing well with a healthy numbers of pending sales.

Apr 09, 2012 08:03 PM #2
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Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!
1 PERCENT REALTY, Victoria BC www.1percentrealtyvictoria.com - Victoria, BC
Talk To Peter 250-213-9490 www.pay-lessrealty.com

Hi Juli,

Thank you for your feedback, our Victoria Market is showing some signs of improvments, but the inventory is still hampering us a bit

Apr 10, 2012 06:24 AM #3
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Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!
1 PERCENT REALTY, Victoria BC www.1percentrealtyvictoria.com - Victoria, BC
Talk To Peter 250-213-9490 www.pay-lessrealty.com

Hi Eileen,

Victoria is always more balanced compared to most areas and we are seeing some interesting market results with a few very high end sales skewing the monthly stats to some degreee.

Apr 10, 2012 06:27 AM #4
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Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!

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