The single family home market here in Victoria actually does seem to be improving.  After watching it oscillate up and down in fits and starts, the trend is definitely in a positive direction.  The median price is creeping upwards very slowly as is the number of houses sold each week.  Is this a typical busy spring? Definitely not.  Is it an opportunity for sellers to ask a little more for their houses – no on that one as well.  Even though the pace of sales has increased, inventory has increased even faster.  Although not at record levels, there are more houses for sale at the current time that there usually would be in April.  As I have said before, this means that the best quality homes that are well priced will sell quickly.  The others will not only not sell, they likely won’t see many showings either.

The news for the condo market continues to be not that great.  While houses are trending up, condo prices are stable or even possibly trending downwards if you look long term.  However, excluding the price, condos stats don’t look too bad. The number of sales has picked up significantly and looks to be going higher still, while the days on market has dropped.  Simple math tells us that there are a number of sellers pretty eager to sell their units and, when well priced, they are definitely selling!

Over the last 30 days, 284 single family houses were sold, up by 10 houses from last week.  The median price is down $6,250 to $559,000. The average house was on the market for 36 days.

In the same time period, 152 condos were sold, up by 9 condos from last week.  The median price is up $1,500 to $275,000. The average condo was on the market for 44 days.

There are now 1,966 houses for sale, up by 64 from last week.  Condo inventory has risen by 12 to 950 suites.

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