Sooke Real Estate Review Feb 2017

SOOKE REAL ESTATE IN REVIEW

Single Family Sales/Days to Sell

24 mth. Historical Active Listings/Sales

The above graphical statistics give us insight into the market machinations over the past 24 months. The 24 month historical overview of the number of listings and sales from January 2015 through to end of January 2017 crystalizes the tightening of inventory and resultant dramatic increase in the number of sales. Sooke had seen a 46% increase in the number of sales in the area for the benchmark Single Family Detached (SFD) class of homes. The average selling price of SFD homes increased by 12.5% in 2016 to $484,126 over the previous year. An impressive increase for sure, however there remains a marked price differential between Sooke and the Westshore which will likely translate to continued frenetic activity in Sooke. Homes priced fairly are attracting interest immediately and in some cases multiple offers are occurring. A unique marketing approach that took off in Victoria has been implemented with limited success here in Sooke. It is an approach where some sellers are entertaining offers only after a stated period of exposure to the market. Of course in those instances aggressive pricing is key to generating the kind of interest that results in multiple offers and prices that satisfy the seller. It’s an understatement to say this is a seller’s market.

OTTER POINT $399,000 FOR SALE BUILD YOUR DREAM HOME

• Address 3050 Michelson Rd

• Lot size

217,800 sqft 5.0 ac

Here's your chance to build that Dream Home on your own private country estate! Down a quiet country road you'll find this Lovely 5 acre parcel, gently sloping, secluded, part forested & part field with a couple of acres ... perfect for the horses. An all too rare opportunity to attain that rural lifestyle you've longed for placid, serene far enough away from the hustle, bustle and ever present hum of city life while still conveniently located within 10 minutes to schools, shops and amenities. Manufactured home 2 bedroom and 4 piece provides accommodation while you build.

Statistics Courtesy Victoria Real Estate Board

12

Made with