The federal government’s lending regulations may be impacting real estate sales in the Victoria region, so says the president of the Victoria Real Estate Board Carol Crabb.
Regardless of what may be precipitating a weak sales market, the numbers are down. Total MLS® sales for October 2012 were 373 compared to 483 in October 2011.
In Sooke, 10 single family residential homes sold with an average price of $254,140 down from the six month average of $384,811. Sooke was seventh in sales throughout the region, with Saanich East selling the most units (50) and Metchosin the least with one. Total single family home sales for Sooke was $3,541,400.
No condominiums were sold during October, two townhouses did sell with an average price of $312,400 down slightly from the six month average $314,621.
Manufactured home sales show one sale with an average price of $49,900 up from the six month average of $37,327.
A waterfront property sold in Sooke during October for $125,000 was later discounted.
Total sales of all real estate in October in Sooke was $4,216,100.