Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in May 2019.
In May 2019, there were 387 sales of single family homes and 1058 active listings in Greater Victoria. The benchmark sale price was $756,000.
In comparison, the Condo market had 244 sales and 658 active listings at the end of the month. The benchmark sale price was $507,300.
Townhome sales were 92, active listings were 252 and the benchmark sale price was $595,900.
Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email firstname.lastname@example.org or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
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.