The housing market is reported as steady and flat this past August.

The housing market is reported as steady and flat this past August.

Housing market slow

Houses for sale sitting on the market longer in 2012

The real estate market on Southern Vancouver Island is reported to be steady and flat, according to the Victoria Real Estate Board which keeps track of the sales in the area.

“Sales are down 11.5 per cent over August 2011,” says Carol Crabb, president of the Victoria Real Estate Board in the monthly sales report. “When seasonally adjusted, there is little change from July 2012. It’s a flat market which we suspect will continue for the next few months and not trending in either direction.”

In Sooke, during August there were nine sales of single family residential properties with an average price of $440,442 and a six month average of $392,318. The highest average price was in Metchosin where it was $839,438, even beating out Oak Bay at $776,906 (16 sales); the lowest average price was in Victoria West at $381,250 (two sales).

Sooke did not sell any condominiums in August but sold two townhouses with an average price of $364,450. Highest average townhouse price was in Saanich East and lowest in Victoria West at $255,000.

Manufactured homes in Sooke had an average selling price of $86,950 with four sales, beating the six month average of $32,358. Highest selling price for manufactured homes was in Victoria with an average price of $415,500, lowest was in Langford with two sales averaging $49,950, although the six month average in Langford was $92,825.

Other properties including lots and acreage and waterfront show seven sales in Sooke with an average selling price of $147,486 down slightly from the six month average of $158,167. The highest average price paid was in Victoria with one sale of $650,000.

August figures show there were 5,034 active listings in the Greater Victoria area (which includes Sooke). In July 2012 there were 5,178 and in Aug. 2011 there were 4,944 listings.

The types of properties which had the most days on the market were residential acreages, 413 days, followed by waterfront residential lots at 219 days; residential lots, 125 days and single family residential waterfront at 131 days. The average days on the market for single family residential homes was 63 days. And the quickest selling homes were strata front and back duplexes with an average of 40 days on the market.

Sooke has at least 35 active realtors representing the major real estate companies.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

GIF
’90s rock band resurfaces with songs never properly recorded or released

Underwater Sunshine’s online reunion involves four guys who lost contact for years

Tim Siebert, one half of the partnership behind Citrus & Cane, says opening the Douglas Street cocktail lounge during a pandemic had challenges, but the bar is ready to adapt to whatever comes next. (Nina Grossman/News Staff)
New Victoria tropical cocktail lounge designed with COVID-19 safety in mind

Citrus & Cane opens in site of former Copper Owl after eight-month delay

Kennedy Nikel, applied marine biologist at Cascadia Seaweed, here seen in late September, shows off bull kelp (in her left hand) and rock weed. The company is spear-heading an annual seaweed festival scheduled for May 13-21, 2021, with Sidney council have signed off in principle. (Wolf Depner/News Staff)
Cascadia hopes to see Sidney host seaweed festival in May 2021

Council supports the idea in principle following a presentation by Cascadia Seaweed

Trevor Davis, base manager of the Western Canada Marine Response Corporation in Sidney, stands in front of the Hecate Sentinal, an oil skimming vessel based at Sidney’s Van Isle Marina. (Wolf Depner/News Staff)
Oil spill response base taking shape on Saanich Peninsula

Enhanced base with elements in North Saanich and Sidney to be fully operational in fall 2022

Environment Canada has issued a special weather statement forecasting windy weather Sunday and Monday. (News Bulletin file photo)
More windy weather on the way for Vancouver Island

Environment Canada issues special weather statement for Victoria, east coast of Island, north Island

Idyllic winter scenes are part of the atmosphere of the holiday season, and are depicted in many seasonal movies. How much do you know about holiday movies? Put your knowledge to the test. (Pixabay.com)
QUIZ: Test your knowledge of holiday movies and television specials

The festive season is a time for relaxing and enjoying some seasonal favourites

Black Press Media and BraveFace have come together to support children facing life-threatening conditions. Net proceeds from these washable, reusable, three-layer masks go to Make-A-Wish Foundation BC & Yukon.
Put on a BraveFace: Help make children’s wishes come true

Black Press Media, BraveFace host mask fundraiser for Make-A-Wish Foundation

A man walks by a COVID-19 test pod at the Vancouver airport in this undated handout photo. A study has launched to investigate the safest and most efficient way to rapidly test for COVID-19 in people taking off from the Vancouver airport. The airport authority says the study that got underway Friday at WestJet’s domestic check-in area is the first of its kind in Canada. THE CANADIAN PRESS/HO, Vancouver Airport Authority *MANDATORY CREDIT*
COVID-19 rapid test study launches at Vancouver airport for departing passengers

Airport authority says that a positive rapid test result does not constitute a medical diagnosis for COVID-19

A small crash in the water south of Courtenay Saturday afternoon. Two men had to be rescued, but reports indicate there were no serious injuries. Photo by Mike Chouinard
Small plane crash in Comox Valley waters Saturday afternoon

Two rescued from plane that had flipped in water; no serious injuries reported

A photo from 2017, of Nuchatlaht First Nation members outside court after filing a land title case in B.C. ( Submitted photo/Nuchatlaht First Nation).
Vancouver Island First Nation calls on B.C. to honour UNDRIP in historic title case

Nuchatlaht First Nation says Crown counsel continues to stall the case using the ‘distasteful’ argument that the Nation ‘abandoned’ their land

West Vancouver Island’s Ehattesaht First Nation continues lock down after 9 active cases were reported today after a visitor tested positive last week. (Ehattesaht First Nation/Facebook)
Ehattesaht First Nation’s COVID-19 nightmare: nine active cases, a storm and a power outage

The Vancouver Island First Nation in a lockdown since the first case was reported last week

114 Canadians were appointed Nov. 27 to the Order of Canada. (Governor General of Canada photo)
Indigenous actor, author, elder, leaders appointed to Order of Canada

Outstanding achievement, community dedication and service recognized

The Ahousaht First Nation confirmed its first case of COVID-19 on Nov. 26, 2020. (Westerly file photo)
Ahousaht First Nation on lockdown over COVID-19

“Emotions are high. The anxiety is high. We want our community to pull through.”

Most Read