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MONTHLY MARKET UPDATE March

2012 Compliments of HOLMES

Moving into March, we conƟnue to see a stable market when looking back to this Ɵme in 2011. The overall sales volume in February of this year nearly matches February 2011 with a slight drop in average sale price of 4.7%. Our monthly absorpƟon rate rose from 8.5 months of inventory to 9.1 months in February. This due to an increase in the number of acƟve lisƟngs entering the market. At the beginning of March we had 3,977 acƟve lisƟngs in the Victoria Real Estate Board. This

REALTY

900

800

NumberofSales

Holmes Realty Ltd. 2481 Beacon Avenue Sidney, BC V8L 1X9 250 656-0911 www.holmesrealty.com

MonthlySalesComparison(2010Ͳ2012) 1000

700

600

500

400

300

200

2010 2011 2012

Jan 418 339 372

Feb 621 488 497

Mar 789 622

Apr 756 574

May 695 572

Jun 625 618

Jul 527 523

Aug 425 542

Sep 395 458

Oct 467 483

Nov 479 482

Dec 349 339

up from 3,715 at the beginning of February. Sales numbers are sƟll strong with 497 total uncondiƟonal sales for the month of February. S‘ƒÄ ãÊ ò®Ý®ã ÊçÙ W›Ý®ã›!


AbsorptionRate(2010Ͳ 2012) 11

10.4

10

MonthsofInventory

9

9.1

7.4

5.1

7.6

9.4

7.8

8.3 6.9

8.1

7.9 7.1

9.9

8.8

8.0

7

9.5

8.1

8

6

9.9

9.0

8.7

8.5

6.7

6.3

5.4

5 4

3.8

3 2 1 Dec

Nov

Oct

Sep

Aug

2011

Jul

2010

Jun

May

Apr

Mar

Feb

0

Jan

At the Ɵme of wriƟng we are seeing an increase in the number of showings. There is a definite improvement in buyer acƟvity over early February. Buyers are certainly interested in viewing property; however, negoƟaƟng to an accepted contract sƟll remains a challenge in agreeing on price and contract condiƟons.

2012

This past month has also seen some great developments with respect to the Provincial Budget. The new HST transiƟon rules and increased HST rebates for new homes have gone a long way to insƟll consumer confidence.

MonthsofInventory

AbsorptionRatesFebruary2012 12 11 10 9 8 7 6 5 4 3 2 1 0

9.25 6.82

7.88

4.204.80

n/a SingleFamily

6.53

7.14

0.00

Condos TownHouses

NorthSaanich

Sidney

CentralSaanich

At the Ɵme of wriƟng, the Average Sale price of a single family home in Victoria was $579,985 and the Median Price was $530,000. With these numbers we are opƟmisƟc that March will be an acƟve month. 


Absorption Rate (2010 ‐ 2012)  11

10.4

10

Months of Inventory

9

9.1

8.7

8.5

7.4

5.1

7.6

9.4

7.8

8.3 6.9

8.1

7.9 7.1

9.9

8.8 8.1

8.0

7

9.5

9.0

8

6

9.9

6.7

6.3

5.4

5 4

3.8

3 2 1 Dec

Nov

Oct

Sep

2012

Aug

2011

Jul

2010

Jun

May

Apr

Mar

Feb

Jan

0


Months of Inventory

Absorption Rates February 2012 12 11 10 9 8 7 6 5 4 3 2 1 0

9.25 6.82

7.88

4.204.80

n/a Single Family

6.53

7.14

0.00

Condos Town Houses

North Saanich

Sidney

Central Saanich


Monthly Sales Comparison (2010‐2012) 1000

900

Number of Sales

800

700

600

500

400

300

200

2010 2011 2012

Jan 418 339 372

Feb 621 488 497

Mar 789 622

Apr 756 574

May 695 572

Jun 625 618

Jul 527 523

Aug 425 542

Sep 395 458

Oct 467 483

Nov 479 482

Dec 349 339


February 2012 Sales Performance Single Family Detached Price Range

North Saanich

Central Saanich

Sidney

Listed

Sold

Listed

Sold

Listed

Sold

$0-$500K

2

0

4

3

16

4

$500K-$800K

38

7

34

11

7

4

$800K-$1M

13

1

5

1

1

0

$1M-$2M

27

1

11

1

3

0

$2M+

14

0

6

0

1

0

Lots & Vacant Land Price Range

Saanich Peninsula Listed

Sold

$0-$300K

1

0

$300K-$400K

10

$400K-$500K $500K+

Price Range

Saanich Peninsula Listed

Sold

$0-$400K

91

17

0

$400K-$800K

42

8

3

0

$800K-$1M

7

0

17

0

$1M+

4

0

Manufactured Homes Price Range

Condos & Townhomes

Saanich Peninsula Listed

Sold

$0-$150K

13

1

$150K-$300K

16

$300K+

1

SFD Waterfront Price Range

Saanich Peninsula Listed

Sold

$0-$1M

6

1

3

$1M-$2M

14

1

0

$2M+

15

0

“Listed” refers to the number of listings presently on the market at the end of the month indicated. “Sold” refers to any properties with unconditional offers in the month indicated.


Percentage of Sales Peninsula Offices February 2012 Office / Value / Percentage Year To Date

DFH Sidney $11,761,900 43%

Re/Max Peninsula $4,700,150 17%

Royal LePage By the Sea $1,271,000 5%

Holmes Realty $8,677,300 16%

Gordon Hulme $385,000 1% Saanich Peninsula Realty $468,000 2%

Sparling Real Estate $0 0%

© 2012 Holmes Realty Ltd. ‐ Data Sourced From VREB MLS


Percentage of Sales Peninsula Offices Year End 2011 Office / Value / Percentage

Re/Max Peninsula $42,744,508 27%

DFH Sidney $32,233,655 20% Royal LePage By the Sea $11,287,500 7%

Gordon Hulme $6,112,100 4%

Keller Williams Realty West $3,887,000 2%

Holmes Realty $60,035,942 37%

Saanich Peninsula Realty $1,963,000 1%

Sparling Real Estate $1,890,000 1%

© 2011 Holmes Realty Ltd. ‐ Data Sourced From VREB MLS

March Market Update  

Current market statistics for the Saanich Peninsula.

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