August 2017 Manhattan Beach Real Estate Market Trends Update
August Market Update
12
MONTHLY MARKET UPDATE O ur market continues to remain relatively stable through the month of July. e Greater Victoria Area ended July with 523 total sales and just under 5,200 listings. e average sale price for July was $580,563, up slightly from 2011 which was $574,717. On the peninsula, we continue with a slow and steady mar- ket. Last months absorption rates for the Saanich Peninsula remained firmly in “Buyer Market” territory, however our own experience showed only very well priced properties in good condition received interest from qualified buyers. August 2012 Greater Victoria July Sales (compared to June 2012) Single Family 273 -18.75% Condos 143 -8.92% Townhomes 52 -5.45% 0 1 2 3 4 5 6 7 8 9 10 11 12 Single Family Condos Town Houses 7.96 n/a n/a 6.47 7.24 6.27 6.80 8.77 4.97 Months of Inventory Absorption Rates July 2012 North Saanich Sidney Central Saanich Compliments of Holmes Realty Ltd. 2481 Beacon Avenue Sidney, BC V8L 1X9 250 656-0911 www.holmesrealty.com Scan to visit our Website! HOLMES REALTY
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Victoria Real Estate Board statistics along with a focus on the Saanich Peninsula
Transcript of August Market Update
MONTHLY MARKET UPDATEOur market continues to remain relatively stable through
the month of July. The Greater Victoria Area ended July with 523 total sales and just under 5,200 listings. The average sale price for July was $580,563, up slightly from 2011 which was $574,717.
On the peninsula, we continue with a slow and steady mar-ket. Last months absorption rates for the Saanich Peninsula remained firmly in “Buyer Market” territory, however our own experience showed only very well priced properties in good condition received interest from qualified buyers.
August
2012
Greater Victoria July Sales (compared to June 2012)
Single Family
273-18.75%
Condos
143-8.92%
Townhomes
52-5.45%
0123456789
101112
Single FamilyCondos
Town Houses
7.96
n/an/a
6.47 7.246.27
6.808.77
4.97
Mon
ths of In
ventory
Absorption Rates July 2012
North Saanich Sidney Central Saanich
Compliments of
Holmes Realty Ltd.2481 Beacon Avenue
Sidney, BCV8L 1X9
250 656-0911www.holmesrealty.com
Scan to visit our Website!
HOLMES
REALTY
Another positive sign is the absorption rate has again dropped over last months 9.4 rate. With 8.4 months of inventory available as of August 1st, a continually declin-ing Absorption Rate is a good indicator of grad-ual move back to a bal-anced market.
We continue to face difficulties qualifying clients requiring CMHC insured mortgages in light of the new qualification regulations imposed on July 9th.
These new regulations have further limited our ability to find suitable prop-erty for many buyers despite the wide selection of properties currently on the
market. While the effect of these changes were not ex-pected to sig-nificantly influ-ence sales, we are now seeing both low-end & high-end prop-erties impacted by these new regulations. •
3.8
5.1
5.4
8.1 8.17.4 7.6 7.8
6.96.7
6.37.1
7.9
8.0
8.7 9.0
10.4
9.99.5
9.99.4
8.8
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8.59.1 9.4
9.810.0
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Jan‐12
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Mon
ths of Inventory
Absorption Rate (2010 ‐ 2012)
2010 2011 2012
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2010 418 621 789 756 695 625 527 425 395 467 479 3492011 339 488 622 574 572 618 523 542 458 483 482 3392012 372 497 570 586 659 637 523
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Num
ber o
f Sales
Monthly Sales Comparison (2010‐2012)
523
3.8
5.1
5.4
8.1 8.17.4 7.6 7.8
6.96.7
6.37.1
7.9
8.0
8.7 9.0
10.4
9.99.5
9.99.4
8.8
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8.59.1 9.4
9.810.0
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Jan‐12
Feb‐12
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ths o
f Inven
tory
Absorption Rate (2010 ‐ 2012)
2010 2011 2012
0.00
2.00
4.00
6.00
8.00
10.00
12.00
Aug‐11 Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12North Saanich 8.74 9.95 8.72 7.86 7.13 7.22 9.25 8.66 9.55 9.65 7.85 7.96Central Saanich 6.14 6.89 5.72 4.59 4.85 4.48 4.80 5.03 5.76 6.32 6.00 6.80Sidney 5.48 6.75 5.02 5.33 3.78 4.10 4.20 4.46 7.69 7.67 6.92 6.47
Absorption Rate ‐ Single Family Detached ‐ By Area
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
Aug‐11 Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12Central Saanich 11.08 7.50 7.80 6.90 6.33 6.75 7.88 12.00 7.80 9.60 9.27 8.77Sidney 6.74 6.38 7.24 5.72 6.91 6.89 6.82 7.50 8.04 7.29 6.67 7.24
Absorption Rate ‐ Condominiums ‐ By Area
‐1.00
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
Aug‐11 Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12North Saanich 3.60 0.75 1.00 3.00 3.00 3.00 0.00 0.00 0.00 0.00 2.00 2.00Central Saanich 4.42 3.69 4.42 4.11 4.89 6.27 7.14 6.25 6.00 7.20 6.92 4.97Sidney 5.68 7.20 7.54 8.32 7.31 6.17 6.53 8.69 8.00 5.72 6.38 6.27
Absorption Rate ‐ Town House ‐ By Area
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
Aug‐11 Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12Central Saanich 9.50 12.00 12.55 8.40 7.13 8.57 9.86 10.00 6.95 7.20 5.18 6.00Sidney 6.86 6.75 6.00 12.00 7.00 6.00 6.00 3.33 5.14 6.00 3.27 4.36
Absorption Rate ‐Manufactured ‐ By Area
0123456789
101112
Single FamilyCondos
Town Houses
7.96
n/an/a
6.47 7.246.27
6.808.77
4.97
Mon
ths of In
ventory
Absorption Rates July 2012
North Saanich Sidney Central Saanich
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2010 418 621 789 756 695 625 527 425 395 467 479 3492011 339 488 622 574 572 618 523 542 458 483 482 3392012 372 497 570 586 659 637 523
200
300
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500
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700
800
900
1000
Num
ber o
f Sales
Monthly Sales Comparison (2010‐2012)
Single Family Detached
Price RangeNorth Saanich Central Saanich SidneyListed Sold Listed Sold Listed Sold
$0-$500K 5 3 11 3 16 2
$500K-$800K 56 7 43 6 21 1
$800K-$1M 16 2 9 0 1 1
$1M-$2M 34 1 22 1 2 0
$2M+ 15 0 7 0 1 0
SFD Waterfront
Price RangeSaanich PeninsulaListed Sold
$0-$1M 6 3
$1M-$2M 17 2
$2M+ 17 0
Condos & Townhomes
Price RangeSaanich PeninsulaListed Sold
$0-$400K 8 18
$400K-$800K 16 3
$800K-$1M 1 0
$1M+ 3 0
Manufactured Homes
Price RangeSaanich PeninsulaListed Sold
$0-$150K 12 1
$150K-$300K 17 1
$300K+ 0 0
Lots & Vacant Land
Price RangeSaanich PeninsulaListed Sold
$0-$300K 3 0
$300K-$400K 14 1
$400K-$500K 2 0
$500K+ 17 0
“Listed” refers to the number of listings presently on the market at the end of the month indicated.“Sold” refers to any properties with unconditional offers in the month indicated.
July 2012Sales Performance
DFH Sidney$36,186,000
30.78%
Gordon Hulme$3,729,000
3.17%
Royal LePage By the Sea$7,777,400
6.62%
Saanich Peninsula Realty$1,613,000
1.37%
Sparling Real Estate$937,5000.80%
Holmes Realty$35,593,204
30.27%
Re/Max Peninsula$31,732,250
26.99%
Percentage of Sales Peninsula OfficesJuly 2012
Office / Value / PercentageYear To Date
© 2012 Holmes Realty Ltd. ‐ Data Sourced From VREB MLS
Holmes Realty$60,035,942
37%
Re/Max Peninsula$42,744,508
27%
DFH Sidney$32,233,655
20%
Royal LePage By the Sea$11,287,500
7%
Gordon Hulme$6,112,100
4%
Keller Williams Realty West$3,887,000
2%
Saanich Peninsula Realty$1,963,000
1%
Sparling Real Estate$1,890,000
1%
Percentage of Sales Peninsula OfficesYear End 2011
Office / Value / Percentage
© 2011 Holmes Realty Ltd. ‐ Data Sourced From VREB MLS
