House sales drop by third

Property sales in Sooke dropped by 30 per cent in June compared to this time last year, according to the latest stats from Victoria Real Estate Board’s Multiple Listing Service.

  • Wed Jul 13th, 2011 6:00pm
  • News

Property sales in Sooke dropped by 30 per cent in June compared to this time last year, according to the latest stats from Victoria Real Estate Board’s Multiple Listing Service.

Last month, 22 properties were sold in Sooke through MLS compared to 31 properties in June 2010.

Sales of single-family homes dropped from 24 this time last year to 19 this year.

The average price of a single-family home has also decreased from about $450,000 to $406,000.

Market activity in the region is at around the same level as last year, said Victoria Real Estate Board president Dennis Fimrite in a news release.

“Overall sales so far this year are down 21 per cent compared to a year ago. It’s important to note, however, that the first few months of last year were very active compared to this year and we are now seeing a return to similar market conditions of a year ago.”

He also said the number of properties available for sale have continued to increase, with inventory levels up seven per cent from a year ago. “The available choice for buyers increased further last month with 5,050 properties available for sale at the end of June – the highest monthly level in 15 years.”

June sales through MLS included 348 single family homes, 177 condominiums, 62 townhomes and nine manufactured homes.