Greater Victoria and Vancouver Island Real Estate Market Statistics – December 2016

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria and Vancouver Island listings and sales in December 2016.

Greater Victoria

In December 2016, there were 199 sales of single family homes and 344 active listings in the Greater Victoria. The benchmark sale price was $625,600 with an average days on market of 36. The hottest market for sales was Langford with 43 sales. There were also 8 sales and 132 active listings at the end of the month for waterfront homes.

In comparison, the Condo market had 141 sales, 186 active listings at the end of the month.  The benchmark sale price was $373,700 with an average days on market of 31. The hottest market for sales was Victoria, 40 sales.

Townhome sales were 35, active listings were 65 and the benchmark sale price was $502,200. The average days on market were 30, and the hottest market was Langford with 8 sales.

It’s a seller’s market in Victoria.

MarketHotSheet_Dec2016_Victoria

Vancouver Island

The following is the summary of Vancouver Island market:

MarketHotSheet_Dec2016_VancouverIsland

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

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MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.