Silver Spray condo market — prices, sold data & trends

Is Silver Spray a buyer's or seller's market?

As of the latest data, Silver Spray is a buyer's market. There are about 15.0 months of inventory — over 7 months gives buyers the upper hand. Around 0.0% of condos sold above asking, and the typical sale closed at 96.5% of list price.

How much does a condo cost in Silver Spray?

The median sold price for a condo in the Silver Spray neighbourhood is $950K. The average sold price is $950K. That works out to roughly $902 per square foot.

Are condos in Silver Spray selling over asking?

0.0% of condos that sold in the Silver Spray neighbourhood closed above their list price. The typical home sold at 96.5% of asking — just under list.

How long do condos take to sell in Silver Spray?

Half of the condos that sold in the Silver Spray neighbourhood went under contract within about 50 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 Silver Spray?

It depends which side you are on. With about 15.0 months of inventory, the Silver Spray neighbourhood favours buyers. Buyers have more choice and negotiating room, with condos taking around 50 days to sell — sellers need to price sharply to stand out.

What is the best time of year to sell a home in Silver Spray?

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 condos are for sale in Silver Spray?

As of the latest data there are 5 active condo listings in the Silver Spray neighbourhood. Over the period, 10 new listings came to market and 1 sold, which is about 15.0 months of inventory at the current sales pace.

Do condos in Silver Spray sell for more than their assessed value?

The typical home in the Silver Spray neighbourhood sold at 111.6% of its BC-assessed value — about 12% 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.