Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in October 2018.
In October 2018, there were 244 sales of single family homes and 885 active listings in Greater Victoria. The benchmark sale price was $765,300 with an average days on market of 40. The hottest market for sales was Saanich East with 47 sales. There were also 14 sales and 147 active listings at the end of the month for waterfront homes.
In comparison, the Condo market had 180 sales and 405 active listings at the end of the month. The benchmark sale price was $495,600 with an average days on market of 33. The hottest market for sales was Victoria, 63 sales.
Townhome sales were 70, active listings were 211 and the benchmark sale price was $588,900. The average days on market were 52, and the hottest market was Langford with 13 sales.
It’s a seller’s market in Greater Victoria.
Parksville / Qualicum
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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.