Oak Bay Real Estate Market Review October 2010
October 03 2010 Oak Bay Real Estate Activity-Indicates a Buyers Market in Oak Bay.
Oak Bay Real Estate September Single Family Home Stats:
Total Oak Bay Single Family Home Sales in September = 15
Average Oak Bay Home Pending Selling Price in September $ $816,327
Total Oak Bay Single Family Home Completed Sales in September = 17
Average Oak Bay Home Selling Price $802,053
Oak Bay Real Estate activity in the 1st 9 months of 2010 indicates a Buyers market with 16 months of inventory of single family Oak Bay homes.
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, (since Jan 1, 2010).
Number of Single Family Homes Currently For Sale in Oak Bay = 73...down for 81 in September
Average Asking Price = $ 1,919,404 (40 homes over 1 million dollars for sale)
Average Days on the Market = 69 (an increase from 54 in the beginning of August)
Current Pending No Sales = 22 up from 20 Pending sales in September.
Current Average Pending Selling Price = $868,495 up from September
Days on the Market = 44 down from 47 in September.
Single Family Oak Bay Homes Sold in 2010 (completed single family home sales Jan 1/10 to October 3/10 ) = 217
Average Oak Bay Home Selling Price = $ 950,508
Average Days on the market = 41
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 73 homes for 
sale?
- Less than 5 months of inventory indicates a Buyers Market
- 5-7 months of inventory = Balanced market
- Greater than 7 months = Buyers market
These Stats indicate Oak Bay Real Estate is currently a Sellers market, meaning little room to negotiate for Oak Bay home Sellers. Prices are down from the start of 2010.
Information source Victoria Real Estate Board database on Matrix
Data complied by Fred Carver October 3, 2010 who has 39 years experience selling real estate in Oak Bay for Re/Max Camosun-Oak Bay
256 Oak Bay homes Sold over the last year- divided 256 by 12 months = 21.33% homes sold per month
22.33% of the 73 Current listing = 16.3 months Active Single Family Home inventory is available in Oak Bay...
HAVE YOUR BEST YEAR EVER IN 2012 !
Cheers
Fred Carver
Re/Max Camosun
Accredited Consultant in Real Estate®
Direct 250-598-2963
40 Years Experience selling Real Estate does make a Difference.. call Fred today to Put his 40 years experience to work for You.
4440 Chatterton Way, Victoria, BC V8X 5J2
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