Victoria Real Estate Market wraps up a relatively flat year for home sales

A total of 402 properties sold in the Victoria Real Estate Board region this December, 7.2 per cent more than the 375 properties sold in December 2018 and a 30.3 per cent decrease from November 2019. Sales of condominiums were up 17.5 per cent from December 2018 with 121 units sold. Sales of single family homes increased 13.8 per cent from December 2018 with 198 sold.

A grand total of 7,255 properties sold over the course of 2019, 1.47 percent more than the 7,150 that sold in 2018. 2019 sales came in at slightly under the ten-year average of 7,413 properties sold.

“Overall, our market throughout 2019 can be characterized as still active, slow to grow and low in supply,” says 2019

Waterfront Property

If you've dreamed of walking out your door of your Waterfront home in Victoria BC and soaking in morning sun on your own private dock while preparing for a paddle on a protected inlet, look no further. This South facing waterfront home for sale in Victoria BC enjoys beautiful sun throughout the day onto an orchard like front yard with fruit bearing trees and private backyard waterfront oasis. A rare foreshore frontage onto affords the use private enjoyment of your own dock. You will feel at home in nature while also enjoying close proximity to downtown Victoria BC by car or bicycle.

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Waterfront home

Upper floor

Suite

 This waterfront home for sale in Victoria BC is fed by two salmon bearing streams and one of the

Victoria Real Estate market impacted by low inventory, consistent demand

November 1, 2019  A total of 619 properties sold in the Victoria Real Estate Board region this October, 3.5 per cent more than the 598 properties sold in October 2018 and a 0.5 per cent increase from September 2019. Sales of condominiums were down 1.1 per cent from October 2018 with 178 units sold. Sales of single family homes increased 10 per cent from October 2018 with 318 sold.

"This month's overall numbers are very similar to the numbers we saw last year," says Victoria Real Estate Board President Cheryl Woolley. "It's interesting that last month we saw a large uptick in condo sales, but this month is fairly flat when compared to last year. This shows that we are not yet

Strata Parking May Get Simpler

In its newest report (the “Report”), the British Columbia Law Institute’s formidable committee of strata experts (the “Committee”) recommends more changes to the Strata Property Act (the “Act”). If adopted, these changes will make it easier for a REALTOR® to confirm how strata parking is designated.

 
Background


Depending on the circumstances, a strata parking stall may be: 

• a separate strata lot (except where intended to be used in conjunction with a residential strata lot); 
• part of a strata lot; or
• common property.

The Committee focused on projects where parking is part of the common property. Where a parking stall is common property, it may also be:  

• used under a developer’s long-term lease or license

Victoria Real Estate Market Report

A total of 661 properties sold in the Victoria Real Estate Board region this August, 11.3 per cent more than the 594 properties sold in August 2018 but a 6.4 per cent decrease from July 2019. Sales of condominiums were up 4.1 per cent from August 2018 with 203 units sold. Sales of single family homes increased 15.5 per cent from August 2018 with 351 sold.

“August could be considered a status quo month for real estate in greater Victoria with entry-level homes selling quickly when priced appropriately, and higher-end properties moving at a slower pace," says Victoria Real Estate Board President Cheryl Woolley. “As expected, we’ve seen relatively stable pricing, with an uptick in sales – particularly single family homes.

Waterfront Condo for sale in Victoria

This unit was completely renovated to the highest standard in 2014/2015 by James Joinery, a custom building company that restores many James Bay heritage homes in Victoria. 50 Songhees actually mimics the style of a typical Edwardian country home, the era when bay windows were first incorporated in private homes. The unit features a huge bay window which runs the entire width of the living room and provides water views that are greater than one hundred and eighty degrees.

The owners were true to the Edwardian style of the building in the finishing and materials used in the home— the solid walnut flooring, lighter wall colors and a mixture of dark wood tones with white baseboards and door trims is typical for the

Mid-Century Modern West Coast Contemporary.

Designed and built in 1963, this timeless architecture is married with the ecological ethics of our evolving culture. A private arrival at this farm status South facing 5 acre homestead on Salt Spring Island you are greeted by a large carport connected to the home via covered walkway amongst mature landscaping. Inside we have 6 bedrooms and 2 kitchens reflecting the walkout one bedroom suite. An open plan with a recent custom kitchen update featuring local clear fir millwork and marble countertops .

An adjacent open pantry with laundry is beautifully constructed with Douglas Fir custom cabinets.Throughout the home you will enjoy relaxing on the hardwood floors, if you like doing your early morning yoga or

Victoria Real Estate Market Report

Overall: Market demand remained steady in July with 3.4 months of inventory compared to June. Sales volume was down 3.8% compared to last month but the supply ratio of listings vs. sales was steady. Sales were up 18% compared to July 2018. Average days on market for listings has crept up a little to 44 days (vs. 39) and sold listings also took a little longer with 29 days on market (vs. 27). This overall market snapshot does not truly reflect our market conditions: we are continuing to see an increase in demand and lack of supply of condos and a steady demand of detached homes under $1M. Demand for luxury condos and homes continues to falter and inventory is growing.

Single Family homes for sale

Detached: Sales volume

Things to do in Victoria

One of the many great things about living on Vancouver Island is the ability to hike out to incredible places like Mystic Beach | Juan de Fuca Marine Trail.

An hour out of Victoria is this beautiful part of the world. The Juan de Fuca Marine Trail is a rugged 47-kilometre wilderness hiking trail located within Juan de Fuca Provincial Park along the southwestern coast of Vancouver Island. The trail stretches from China Beach, 35 km west of Sooke, to Botanical Beach, just outside Port Renfrew. Panoramic views of the coastline, Juan de Fuca Strait and the Olympic Mountains can be seen from many points along this rainforest trail. Lucky are those who spot a pod of whales, but it is not uncommon to view sea lions, bald eagles,

A lukewarm spring comes to an end for the Victoria Real Estate market

A total of 740 properties sold in the Victoria Real Estate Board region this June, 4.5 per cent more than the 708 properties sold in June 2018 but a 12.7 per cent decrease from May 2019. Sales of condominiums were down 6.1 per cent from June 2018 with 216 units sold. Sales of single family homes increased 10.4 per cent from June 2018 with 394 sold.

*IF you would like to see more specific graphs like the ones above, please don't hesitate to ask.

“June has trended lower than May for the past few years and tends to signal the end of the active spring market," says Victoria Real Estate Board President Cheryl Woolley. “The summer months of July and August generally see less activity