Home sales remain steady and the 2012 property assessments are out.

Real estate markets and assessments

Property assessments can be appealed if homeowner feels the information is incorrect

There is no doubt the real estate market in 2011 was sluggish and that prices have softened making it an ideal time for buyers.

As in most areas sales rose in the summer months and remained relatively unchanged in the winter months leading to the holiday season.

In December, 2011 residential single family homes in Sooke showed 10 sales with an average price of $395,120 up slightly from the six month average of $376,250.

Interesting to note is that the average price in neighbouring Metchosin was $570,000 (likely larger properties); Langford $524,059, Colwood $445,614 and Sidney $506,944. The average price for a single family home in the Greater Victoria area, which includes Sooke, was $592,582.

One condominium sold in Sooke for $212,500. The average price in the GV region was $312,066. The closest average price to Sooke’s was $235,000 in Esquimalt.

Townhouse sales in Sooke amounted to two with an average price of $271,250.

Manufactured homes sales amounted to two with an average price of $66,000.

No lots or acreages were sold in December 2011.

Assessment notices

Assessment notices for 2012 have been sent to homeowners. On average the local trend is a slight decrease in assessments in Sooke. The 2010 assessment roll in Sooke was $402,000, in 2012 $402,000.

Property owners who feel their property assessment does not reflect the market value as of July 1, 2011 or see incorrect information on their notice should contact the BC Assessment office as soon as possible in January. They may submit a Notice of Complaint (Appeal) by January 31 for an independent review by a Property Assessment Review Panel.

The Capital assessment office is located at Ste. 102-3350 Douglas Street in Victoria.

Assessments are the estimate of a property’s value as of July 1, 2011 and physical condition as of October 31, 2011. The common valuation date ensures there is a equitable property assessment base for property taxation.

Changes in property assessments reflect movement in the local real estate market and can vary greatly from property to property. Professional appraisers analyze current sales in the area, as well as considering other characteristics such as size, age, quality, condition, view and location.

For more information on the 2012 assessment roll and regional province-wide real estate market trends, visit www.bcassessment.ca and clock on the 2012 assessment roll information link.

Just Posted

Mudslide closes viewing area at Sooke Potholes

Safety concerns have led to the closure

Second co-housing community planned for Sooke

Community described as a ‘new way of living’

Gas pipeline protest planned for Sooke

Local activists join with other protests across Canada

Almost four of 10 Canadians have unlimited internet data at home

Fifty-four per cent say they telecommute at least sometimes

Esquimalt needs urgent health care facility, mayor says

A severe doctor shortage is leaving Esquimalt residents scrambling for health care

VIDEO: U.S. Congress to probe whether Trump told lawyer Cohen to lie

At issue is a BuzzFeed News report that about negotiations over a Moscow real estate project

Federal Liberals announce former B.C. MLA as new candidate in byelection

Richard Lee will face off against federal NDP leader Jagmeet Singh

No winning ticket in $10 million Lotto Max jackpot

No win in Friday night’s draw means the next Lotto Max draw will be approximately $17 million

Scientists ID another possible threat to orcas: pink salmon

For two decades, significantly more of the whales have died in even-numbered years than in odd years

Burnaby byelection turmoil sparks debate about identity issues in politics

The Liberals still have not said whether they plan to replace Wang, who stepped aside Wednesday

Rookie Demko backstops Canucks to 4-3 win over Sabres

Young Vancouver goalie makes 36 saves to turn away Buffalo

Charges upgraded against mother of murdered B.C. girl

Kerryann Lewis now faces first- rather than second-degree murder in the death of Aaliyah Rosa.

UPDATE: Injured firefighter in stable condition

Kelowna fire crews responded to a blaze at Pope’sGallery of BC Art & Photography on Friday

Rare ‘super blood wolf moon’ takes to the skies this Sunday

Celestial event happens only three times this century

Most Read