MONTHLY MARKET UPDATESellers continued to see a dispassionate attitude amongst

buyers through the month of September. The result being steady prices but a drop in sales numbers for the month.

Total MLS sales for September were 419. Down last year from 458 total sales in September 2011. The average sale price in the Greater Victoria Area for a single family home was $589,361 down again from $622,393 at this time in 2011. The median price also dropped slightly to $517,500.

Our MLS listing inventory remained relatively unchanged over last month at a total of 5,025 listings. September 2011 saw the Greater Victoria Area with 4,940 active MLS listings.

Fourteen single family dwellings sold for over $1 million dol-lars in September; however, nothing over $2 million sold.

October

2012Compliments of

Holmes Realty Ltd.2481 Beacon Avenue

Sidney, BCV8L 1X9

250 656-0911www.holmesrealty.com

Scan to visit our Website!

HOLMES

REALTY

Single family homes in our area are selling for an average of 96% of their list price, yet buy-ers are continuing to wait and see if prices will continue to de-cline. The end result is a slower marketplace.

September also saw the overall absorption rate increase to 9.2 months of inventory. This, up from 8.8 months in Au-gust is still down from September 2011 which was 9.9 months. September has historically seen a slight upward trend in absorption rates for the last three years.

Although the local market is cooling, our fall season historically exhibits a reduced pace in comparison with spring and summer markets in Victoria.

Here at Holmes Re-alty, feedback from our sales represen-tatives clearly con-tinues to indicate that well priced property will con-tinue to sustain a serious, qualified buyer when condi-tion and terms are satisfactory. •

419

Specializing in Real Estate on Vancouver Island, BC, Canada

OCTOBER 2012

NewsletterHolmes Realty

Holmes Realty Ltd.2481 Beacon Avenue

Sidney, BCV8L 1X9

250 656-0911www.holmesrealty.com

This coupon entitles the bearer to

one pumpkin(any size)

from Mar Farms

7120 Veyaness Road

"expires October 31, 2012

Energy Efficiency Rebates

Until March 31, 2013, LiveSmart BC incentives will offer over $7000 in rebates for households. The program—provided by BC Hydro, FortisBC and the Province of BC—helps homeowners reap the benefits of rebate savings now and reduce energy use in the future.There are three easy steps to

participate in the program and save:1. Choose a Certified Energy

Advisor to conduct the pre-retrofit home energy assessment.

2. Make the energy efficiency improvements to your home.

3. Complete a follow-up (post-retrofit) energy assessment with a Certified Energy Advisor by March 31, 2013.

There is no extra work for you, the homeowner, as the paperwork and rebate applications are handled by the advisor. Customers will save $150 on the initial energy assessment which typically costs $350. The provincial LiveSmart program includes incentives for 54 different upgrades, such as up to:

• $1500 for exterior wall insulation

• $1500 to install heat pumps• $1200 for basement insulation• $750 for attic insulation• $70 per window, door and

skylight replacement.For more information about LiveSmart BC rebates, visit:powersmart.ca/livesmartbc

Compliments of Steven Klipper

Compliments of Steven Klipper

Gre

en Z

one

Don’t LetHeat Escape!

ENERGY STAR qualified windows and doors will help your home stay toasty in the winter and cool in the

summer, giving you year-round savings on your energy bills. They also reduce condensation, lower outside noise, and protect your belongings from sun damage. These windows are often a bit pricier than low-performance windows, but

you’ll soon make that up the on your heating bills. If you don’t have the budget to change all of your windows at once, focus first on the rooms where your family spends the most time. South and west-facing windows generally have the biggest impact on your comfort and energy savings.Be sure that your windows are installed by a qualified professional—someone who can guarantee thatthe work is done properly, and meets all applicable codes and standards. It’s also recommended that you change your windows before you upgrade your heating system. In many cases, you’ll be able to go with a smaller, less expensive heating system once you have moreefficient windows.

Homes can contain many hazards, depending on the house’s age and the materials used to build it. Obvious dangers include asbestos and lead paint, but other problems like mold can also cause serious problems for homeowners. If you are buying a new home, it is important to ensure you take steps to protect the health of yourself, your family and anyone performing work on your property. A home inspection is absolutely essential when you are purchasing a new home. In British Columbia, WorkSafeBC

now requires a hazardous materials inspection for any work site to determine the presence of asbestos containing materials. As a result, many municipalities now require a complete inventory of hazardous materials present in a building before issuing a permit to renovate or demolish a premises. Victoria, North Saanich, Metchosin, Esquimalt, View Royal, Saanich and Colwood all require hazardous materials inspections in homes built before 1990. Before any work begins, a qualified

person must inspect the site to identify any asbestos-containing materials, lead or other heavy metal, or toxic, flammable or explosive materials. Among those hazardous materials are asbestos, lead (in paint, plumbing, stained glass), mercury (in thermostats and fluorescent light bulbs), PCBs (in fluorescent light ballasts), and ozone depleting substances such as Freon.All of these can be a danger,

not only to people, but to the environment as well. Proper precautions must be taken to protect workers and anyone else who could be exposed on the work site, and to ensure that these materials are properly disposed of.

HIDDEN HAZARDS

SUMMERMARKETWINNERS

Throughout Sidney’s Summer Market season, Holmes Realty held weekly and monthly draws—and a final Grand Prize Draw. Here’s the list of our lucky winners!

WEEKLY (Holmes Realty Gift Bag)Harvey DrdulGordon BrownLaura WoodNina DobbsOle BackhausValim OliverJean WilsonOllie Maston

Mary Jane CrawleyCrista WhitbreadErin KirkpatrickSonja VanVoorstGeorge & Beth Meechan

MONTHLY (Canoe Cove Restaurant & Star Cinema: dinner & a movie) Linda and Russ HeslepRani Gill

GRAND PRIZE (Date Night at Pier Hotel)Barbara Gallop

New and expanded operating rooms are now open at Saanich Peninsula Hospital, part of a $9.9 million renovation that will help ensure families on the Peninsula get the best care, closer to home. The new operating suite is a 690 square metre addition to the hospital and includes three new operating rooms and an endoscopy/integrated procedure room. The Saanich Peninsula Hospital Foundation contributed over $5 million towards this project, through the generous donations made by Peninsula residents, organizations and businesses. The province contributed $2.9 million, and the Capital Regional Hospital District $1.8 million. The new operating capacity at the hospital should mean patients will have quicker surgical procedures and fewer complications. Computers in each operating room give surgeons and nurses access to vital patient information and medical imaging. Lights and equipment in each room can be adjusted using a single touch screen. To support “Our Hospital”, visit the Saanich Peninsula Hospital Foundation’s website:

sphf.ca

REAL ESTATE MARKET WATCH

SPHF photo

This newsletter is not intended to solicit business from individuals working with Realtors.

Steven Klipper

HOLMES REALTY2481 Beacon AvenueSidney, BC V8L 1X9

If you know someone who would appreciate the level of service I can provide, please call me with their name and number and I’ll take great care of them. I am totally committed to providing my clients with unsurpassed service. A referral is sending someone you care about to someone you trust.

Steven KlipperAre you interested in our Real Estate market? Every month, we release a complimentary e-mail report with some excellent information that will allow you to keep an eye on the market.

CALL OR E-MAIL TODAYfor more information about our

MONTHLY MARKET E-MAIL UPDATE1-877-656-0911

steven.klipper@holmesrealty.com

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

8.3

8.59.1 9.4

9.810.0

9.48.9 8.8 9.2

2

3

4

5

6

7

8

9

10

11

12

Jan‐12

Feb‐12

Mar‐12

Apr‐12

May‐12

Jun‐12

Jul‐12

Aug‐12

Sep‐12

Oct‐12

Nov‐12

Dec‐12Mon

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

Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12 Aug‐12 Sep‐12North Saanich 8.72 7.86 7.13 7.22 9.25 8.66 9.55 9.65 7.85 7.96 7.56 7.52Central Saanich 5.72 4.59 4.85 4.48 4.80 5.03 5.76 6.32 6.00 6.80 7.09 7.77Sidney 5.02 5.33 3.78 4.10 4.20 4.46 7.69 7.67 6.92 6.47 5.27 5.07

Absorption Rate ‐ Single Family Detached ‐ By Area

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12 Aug‐12 Sep‐12Central Saanich 7.80 6.90 6.33 6.75 7.88 12.00 7.80 9.60 9.27 8.77 8.50 7.64Sidney 7.24 5.72 6.91 6.89 6.82 7.50 8.04 7.29 6.67 7.24 6.95 5.91

Absorption Rate ‐ Condominiums ‐ By Area

‐2.00

0.00

2.00

4.00

6.00

8.00

10.00

Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12 Aug‐12 Sep‐12North Saanich 1.00 3.00 3.00 3.00 0.00 0.00 0.00 0.00 2.00 2.00 6.00 48.00Central Saanich 4.42 4.11 4.89 6.27 7.14 6.25 6.00 7.20 6.92 4.97 4.55 6.86Sidney 7.54 8.32 7.31 6.17 6.53 8.69 8.00 5.72 6.38 6.27 5.59 5.87

Absorption Rate ‐ Town House ‐ By Area

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12 Apr‐12 May‐12 Jun‐12 Jul‐12 Aug‐12 Sep‐12Central Saanich 12.55 8.40 7.13 8.57 9.86 10.00 6.95 7.20 5.18 6.00 5.18 6.00Sidney 6.00 12.00 7.00 6.00 6.00 3.33 5.14 6.00 3.27 4.36 2.73 3.00

Absorption Rate ‐Manufactured ‐ By Area

0123456789

101112

Single FamilyCondos

Town Houses

7.56

n/an/a

5.276.95

5.59

7.098.50

4.55

Mon

ths of In

ventory

Absorption Rates August 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 372 497 570 586 659 637 523 462 419

200

300

400

500

600

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 0 11 4 18 4

$500K-$800K 54 12 47 4 15 2

$800K-$1M 13 0 11 0 1 0

$1M-$2M 27 2 18 1 2 0

$2M+ 12 0 6 0 1 0

SFD Waterfront

Price RangeSaanich PeninsulaListed Sold

$0-$1M 7 0

$1M-$2M 15 3

$2M+ 13 0

Condos & Townhomes

Price RangeSaanich PeninsulaListed Sold

$0-$400K 75 14

$400K-$800K 64 4

$800K-$1M 2 0

$1M+ 4 0

Manufactured Homes

Price RangeSaanich PeninsulaListed Sold

$0-$150K 12 2

$150K-$300K 16 4

$300K+ 0 0

Lots & Vacant Land

Price RangeSaanich PeninsulaListed Sold

$0-$300K 2 1

$300K-$400K 15 0

$400K-$500K 0 0

$500K+ 20 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.

September 2012Sales Performance

0

1000

2000

3000

4000

5000

Total Active Listings / Number of Sales

Active Listings Number of Sales

DFH Sidney$40,836,200

29.18%

Gordon Hulme$3,729,000

2.66%

Royal LePage By the Sea$9,331,300

6.67%

Saanich Peninsula Realty$2,162,500

1.55%

Sparling Real Estate$937,5000.67%

Holmes Realty$44,549,247

31.83%

Re/Max Peninsula$38,408,088

27.44%

Percentage of Sales Peninsula OfficesSeptember 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