High-End Sales Boost Average Prices March 1, 2004
The sale of eleven properties over $800,000 helped boost the average price
of single family homes in Greater Victoria to a new record high of $378,723
in February. The average price for townhomes also reached a record high.
Meantime the number of sales of homes and other properties also increased.
Victoria Real Estate Board President Carol Geurts says it’s important
to keep prices in any individual month in perspective. "Although the
overall average can be skewed higher when a number of high-end properties
sell in a given month, it’s important to look at the longer term when
assessing trends in real estate." Geurts noted that the average price
for the last six months for single family homes was $356,672 and the median,
or mid-range, price in February was considerably below the average at $324,950.
Prices for townhomes showed similar variation with a new record high for
the monthly average at $306,803 compared to the average for the last six
months at $269,642 and the median at $264,950. The average price of all
condominiums sold last month was $193,398; the average for the last six
months was $195,276.
Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs
Information Courtesy of Victoria Real Estate Board
