The last week was one of the slower weeks for resale properties, but was a stronger week for new properties.  We heard this from many colleagues, and saw it first hand with several sales at our development, Homes at Hazelwood.

We generally expect higher volumes at this time of year than we are seeing and attribute the lack of interest from buyers partially to the bad economic news in the last while.  However, if history is a guide, this is the time that buyers should be entering the market, as fewer homes sold means more anxious sellers and better prices!  If we look back to 2008, when the previous recession hit, buyers who took advantage of the “fear” made substantial and quick gains.

Over the last 30 days, 211 single family houses were sold, the same as last week.  The median price is down $9,850 to $540,150. The average house was on the market for 44 days.

In the same time period, 117 condos were sold, down by 3 condos from last week.  The median price is up $6,450 to $279,900. The average condo was on the market for 54 days.

There are now 2,278 houses for sale, up by 10 from last week.  Condo inventory has risen by 3 to 1092 suites.

The day is finally here.  If you are considering a home in the western communities you need to visit us before you make a decision.  We have brand new 3-4 bedroom homes, some with suites, starting at only $389,900!  Buy one of our showhomes, or pick your lot, pick your home, and move into your dream home in about four months.

This weekend, everyone who visits can enter our draw for an Apple iPad 2!  We look forward to seeing you Saturday and Sunday from 1-4pm.  We're at the corner of Hazelwood and Englewood, just off Happy Valley road.  Just follow the signs.

Visit www.HomesAtHazelwood.ca to learn more.

Thanks to all the Realtors who visited our Realtor open house at Homes At Hazelwood yesterday!  We had a great turn out and were very pleased with the positive comments and great support. 

Now, we are looking forward to our public launch this weekend, Saturday & Sunday, 1-4pm where we will be drawing for another free iPad 2!

Are you selling your home and looking for a way to help it stand out from the crowd?  Are you buying a home and looking for a way to reduce your energy costs and save on your mortgage.  If so you may want to take advantage of this promotion running here in Victoria until December 31, 2011.

Here's a pic of Karl Leong from The Preferred Homes Team rolling up his sleeves and getting the last of the signage up.  This weekend, on Saturday and Sunday from 1-4pm we will be officially inviting everyone to visit us at Hazelwood in Langford.