Oak Bay Real Estate Market Review for 2010
Oak Bay Real Estate Single Family Home Stats todate for 2010
Total Oak Bay Single Family Home Sales in November 2010 = 11
Average Oak Bay Home Pending Selling Price in November $ $1,300,273 up from previous months
Total Oak Bay Single Family Home Completed Sales in November 2010 = 8
Average Oak Bay Home Selling Price $799,125
This report may not indicate a market trend in the coming months in Oak Bay BC, however it should give you an idea of the current Oak Bay real estate activity with Oak Bay single family homes, (during 2010).
Number of Single Family Homes Currently For Sale in Oak Bay = 50...down for 73 in October
Average Asking Price = $ 1,951,116 (25 homes over 1 million dollars for sale)
Average Days on the Market = 88 (an increase from the begaining of November )
Current Pending No Sales = 29.
Current Average Pending Selling Price = $1,119,617
Average BC Assessed Value = $1,016,207
Days on the Market = 56.
Single Family Oak Bay Homes Sold and Pending in 2010 (Jan 1/2010 to December 13 /2010 ) = 236
Average Oak Bay Home Selling Price since Jan 1, 2010= $ 921, 986
Average Oak Bay Pending Selling Price = $1,119,617 from 29 Pending Sales
Let's look at what the current Oak Bay Real Estate activity is telling us.....
How long will it take to sell the current Single family inventory of 50 homes for sale?
235 homes Sold over the last year- divided 235 by 12 months = 19.58% homes sold per month
19.58% of the 50 Current listing = 9.79 months Active Single Family Home inventory is available in Oak Bay...
Guide for Buyers, Balanced or Sellers Real Estate Market
- Less than 5 months of inventory indicates a Sellers Market
- 5-7 months of inventory = Balanced market
- Greater than 7 months = Buyers market
These Stats indicate Oak Bay Real Estate is currently a Buyers market with 9.79 months inventory, Prices are down from the start of 2010.
Information source Victoria Real Estate Board database on Matrix
Data complied by Fred Carver December 13, 2010 who has 39 years experience selling real estate in Oak Bay for Re/Max
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Fred Carver
Re/Max Camosun
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Direct 250-598-2963
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