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2005
PROFILE:
2005
was a banner year for the Victoria area real estate market. New
average price records were set for all property types.
Single
family homes peaked at $546,074 in Dec.05, with
waterfront homes also breaking a new record at $2,765,571. The
6-month average by Dec.05 sat at $488,319.
Condo
prices peaked in Feb.05 at $260,000 then fluctuated
in a range of $235,000 to $258,000 until setting a new record in
Nov.05 at $295,071.
| Property
Type |
Overall
increase of monthly average price in 2005 over
2004 |
| Single
family homes |
over
20% |
| Condos |
over
16% |
| Townhomes |
over
15% |
In
2005, townhome
sales showed increased momentum in spring 2005, with four
consecutive record-setting months and peaking in Jun.05
with an average sale price of $376,572. The townhome sale average
was $349,766 in Dec.05.
The
market picked up its normally higher spring activity
last year with the highest number of monthly sales seen in Apr.05 at 936 (901 in May.05, and 862 in Jun.05);
936 is the highest number of sales seen for any month
since May.91. Jul.05 showed 769 sales, followed
by 753 sales in Aug.05, 714 sales in Sept.05, and 575 sales in Oct.05.
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