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|Major Cities Report|
Greater Victoria Residential Real Estate Transitions to a Balanced Market
Total number of sales for April was 615, a 5% increase compared to April 2012 with 586 sales. On the residential side, more properties are selling, and slightly fewer are entering the market, so we are moving from a buyers’ market to more balanced market conditions. Prices remained relatively flat and, there were 367 single family homes sold in April at a median price of $540,000,
Spring Delivers Greater Balance
Last month’s sales equate to the lowest April total in the region since 2001 and 20.9% below the 10-year sales average for the month.
The sales-to-active-listings ratio currently sits at 15.7% in Greater Vancouver. This is the second consecutive month that this ratio has been above 15%. Previous to this, May 2012 was the last time this ratio was above 15%. There have been modest increases in home prices across the region over the last three months. This comes on the heels of home price declines of approximately 5-6% in Greater Vancouver during the last half of 2012. The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $597,300. This represents a decline of 3.9 % compared to this time last year and an increase of 1.6 % compared to January 2013. Sales of detached properties reached 1,064 in April 2013, a decrease of 5.5% from the 1,126 detached sales recorded in April 2012, and a 24.1% decrease from the 1,402 units sold in April 2011. The benchmark price for detached properties decreased 5.2% from April 2012 to $914,000. Since January the benchmark price of a detached home has increased 1.4%.
|Calgary:||Single Family Dwelling Prices Reach a New High
For the first time since 2007, conditions favour the seller. The benchmark price of single family homes reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007. Residential year-to-date sales improved by nearly 4% compared to the same time in 2012. Meanwhile, citywide benchmark prices totaled $406,000 a 7% rise over the previous year.
|Edmonton:||Stability Marks Spring’s Real Estate Activity
Estimated SFD sales of 1,037 units (960 actual) were down 4.4% from last year but condominium sales increased 4.1% year-over-year to 459 estimated sales (425 actual).
In April, the average price for a single family detached home was $402,270 (down 3.5% from March). The average priced condo sold for $243,503 (down 1.3% m/m) and duplex and rowhouses prices were up 2.8% to $324,975 on average.
|Toronto:||Market Conditions Promote Price Growth in April
Greater Toronto reported 9,811 sales through the Toronto MLS system in April 2013, representing a dip of 2% in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis. The average selling price for April 2013 transactions was $526,335 – up by 2% in comparison to April 2012. The MLS® HPI Composite Benchmark Price was up by 2.9%t.
Single Family Home Average Price 2010 – 2013
Number of Sold Single Family Dwellings2010 – 2013
Single Family Listing Inventory 2010 – 2013
Single Family Percentage of Sales to Listing Ratio 2009 – 2013
(Percentage of How Many Listings Sell in a Month)
Featured Property Breathtaking Unforgetable Panoramic Views – Quality Built
4 Bedroom | 4 Bath | 4,400 sqft | Built 2004
355 Stellar Drive
Stunning, unobstructed views of lake, city and mountains from downtown Kelowna to Peachland. Exceptional open plan with Brazilian cherry wood floors, granite countertops, 10′ ceilings plus recessed and cathedral ceilings, maple cabinetry throughout. Amazing views from this huge romantic master suite with spa like 5 piece en-suite and opening to own deck overlooking vineyards and lake. There is also a 1 bedroom inlaw suite with lake views and cork floors. The property features a triple garage and a most beautiful manicured backyard with 2 patios.
More pictures and information here.
#100 – 1553 Harvey Av.
Kelowna, BC, V1Y 6G1
|Each Office Independently Owned and Operated.|