Otter Point real estate market — prices, sold data & trends

Is Otter Point a buyer's or seller's market?

As of the latest data, Otter Point is a buyer's market. There are about 11.0 months of inventory — over 7 months gives buyers the upper hand. Around 0.0% of homes sold above asking, and the typical sale closed at 97.3% of list price.

How much does a home cost in Otter Point?

The median sold price for a home in the Otter Point neighbourhood is $1.05M. The average sold price is $1.03M. That works out to roughly $528 per square foot.

Are homes in Otter Point selling over asking?

0.0% of homes that sold in the Otter Point neighbourhood closed above their list price. The typical home sold at 97.3% of asking — just under list.

How long do homes take to sell in Otter Point?

Half of the homes that sold in the Otter Point neighbourhood went under contract within about 48 days — the median days on market. A longer time on market gives buyers more negotiating room.

Is now a good time to buy or sell in Otter Point?

It depends which side you are on. With about 11.0 months of inventory, the Otter Point neighbourhood favours buyers. Buyers have more choice and negotiating room, with homes taking around 48 days to sell — sellers need to price sharply to stand out.

What is the best time of year to sell a home in Otter Point?

Across the past two years, sales activity in the Otter Point neighbourhood has been strongest in March and quietest in October. In Greater Victoria the spring market — roughly March through June — is typically the busiest selling season, when buyer demand and prices tend to peak, with activity easing over the winter.

How many homes are for sale in Otter Point?

As of the latest data there are 11 active home listings in the Otter Point neighbourhood. Over the period, 33 new listings came to market and 9 sold, which is about 11.0 months of inventory at the current sales pace.

Do homes in Otter Point sell for more than their assessed value?

The typical home in the Otter Point neighbourhood sold at 105.6% of its BC-assessed value — about 6% above its BC Assessment. Assessments are set once a year and lag the market, so a ratio above 100% is common when prices are rising.

Directional market benchmarks from Repliers MLS, BC Assessment & VREB — not an appraisal or personalized advice.