Victoria Market Report - Feb.2024

A balanced market means opportunity for buyers & sellers in Victoria

February 1, 2024  A total of 341 properties sold in the Victoria Real Estate Board region this January, 22.7 per cent more than the 278 properties sold in January 2023 and a 3.6 per cent increase from December 2023. Sales of condominiums were up 10.9 per cent from January 2023 with 112 units sold. Sales of single family homes increased 35 per cent from January 2023 with 162 sold.
  "Our housing market eased into the new year with a renewed sense of balance," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "Sales were up slightly based off last year's very low numbers, and overall, we saw the stabilization that we observed in late…

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Victoria Market Report - Jan.2024

The 2023 Victoria real estate market year in review 

A total of 329 properties sold in the Victoria Real Estate Board region this December, 2.8 per cent more than the 320 properties sold in December 2022 and a 16.5 per cent decrease from November 2023. Sales of condominiums were up 14.9 per cent from December 2022 with 108 units sold. Sales of single family homes increased 1.3 per cent from December 2022 with 158 sold.

A grand total of 6,207 properties sold over the course of 2023, 8.77 per cent fewer than the 6,804 sold in 2022.

“I’ve spoken a lot this year about our market’s return to traditional seasonal patterns,” said 2023 Victoria Real Estate Board Chair Graden Sol. “And at the conclusion of 2023…

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Homes Sold on Vancouver Island-2023

Its  been an exciting and interesting year!  I have expanded my sales in Greater Victoria to reach deeper into the surrounding Gulf & Discovery islands. I have also worked further 'up island' since purchasing my recreational property on Quadra. 

I sincerely want to thank all of my Buyers and Sellers who trusted me to represent them as their Realtor.  I am always grateful and very much appreciate your business!

As a wrap up to the end of 2023, I thought I would share with you some of the properties I've sold over this past year.

SELLERS - SOLDs 


114-2520 Wark St. ~  MLS#922245  $450,000
Victoria-Hillside

504-940 Boulderwood Rise ~ MLS#917956  $699,000
Saanich East-Broadmead

713-160 Wilson…

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MY RECENTLY 'SOLD' LISTINGS  

I am happy to report the successful sale of the properties I had listed below.

Strategic marketing, patience, communication and a dedicated team effort played a crucial role in achieving the optimal outcome for our sellers. 

A big thank you to all my clients for entrusting me with the sale of their properties.

If you are you looking to buy or sell a property on Vancouver Island or in the Gulf Islands, please don't hesitate to reach out and contact me today for a personal consultation to see how we can work together to achieve your real estate goals.

160-210 Russel Road - Victoria West

Click on the image for details


 1817 Fairfield Road - Victoria, Fairfield East

Click on the image for details

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 Victoria Market Report - Dec.2023



Slower winter markets can benefit buyers and sellers

December 4, 2023 - A total of 394 properties sold in the Victoria Real Estate Board region this November, a 2.6 per cent increase from the 384 properties sold in November 2022 and a 3.2 per cent decrease from October 2023. Sales of condominiums were down 11.8 per cent from November 2022 with 120 units sold. Sales of single family homes increased by 6 per cent from November 2022 with 193 sold.

“It’s unsurprising to see this slight relaxation of sales in the market,” said Victoria Real Estate Board Chair Graden Sol. “Given the current interest rate environment, our sales numbers are lower than long term averages, but the pattern of seasonality within those lower…

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Waterfront LIVING on Vancouver island

Vancouver Island is fast becoming one of the most sought after locations to find waterfront properties, Be it oceanfront or a lakefront property, dive into the realities of waterfront living as I unveil the many considerations that need to be taken in owning a shoreline home.

Wilderness At Your Door

Living on a waterfront property on Vancouver Island in British Columbia is a dream for many. The stunning views, the variety of wildlife at your doorstep, the soothing sounds of the water lapping the shoreline and the promise of a unique lifestyle.

Considerations for Ownership

Prospective buyers should take into account a variety of factors associated with owning seaside or lakefront real estate in this…

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VICTORIA MARKET REPORT - Nov. 2023



Interest rates a large factor in Victoria market


November 1, 2023
-A total of 407 properties sold in the Victoria Real Estate Board region this October, 15.2 per cent fewer than the 480 properties sold in October 2022 and a 17.4 per cent decrease from September 2023. Sales of condominiums were down 7.2 per cent from October 2022 with 141 units sold. Sales of single family homes decreased 16.1 per cent from October 2022 with 193 sold. 

“Overall, property sales drifted down in October compared to the previous month, likely due to consumers continuing to navigate interest rates higher than those seen in nearly two decades,” said Victoria Real Estate Board Chair Graden Sol. “The uncertainty around the direction of…

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Upcoming New Legislative Changes

There are new provincial and municipal legislative changes coming soon related to short-term rentals. The province defines short-term rentals as accomodations rented out for a period of less than 90 consecutive days. The new rules will apply to cities with a population of 10,000 or greater. British Columbia's provincial rules allow each municipality to determine their specific regulations and bylaws.

There is much debate about whether tightening the current rules in place will improve the rental market situation. 

The BC goverment issued a news release on Oct.16th, 2023 regarding the introduction of legislation to regulate the short term rental market. The purpose for this amendment is an attempt to alleviate…

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Rural Real Estate

As the charming coastal city of Victoria continues to capture the hearts of homebuyers and investors, the spotlight has begun to shine on the hidden gems nestled in the rural outskirts of this vibrant city. Victoria, known for its historic architecture, picturesque gardens and bustling cultural scene, is surrounded by the natural beauty of Vancouver Island. A unique opportunity awaits those seeking a tranquil escape without sacrificing the conveniences of urban living.

Serene Scenery and Abundant Nature

One of the primary draws of the rural properties in Greater Victoria is the breathtaking natural beauty that envelops these areas. From sprawling acreages to waterfront properties offering panoramic views of the Pacific Ocean,…

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VICTORIA MARKET REPORT - Oct. 2023


While value of homes in Victoria remains stable,
the cost to own continues to rise

 

October 3, 2023  A total of 493 properties sold in the Victoria Real Estate Board region this September, 20.2 percent more than the 410 properties sold in September 2022 and a 9.4 percent decrease from August 2023. Sales of condominiums were up 23 per cent from September 2022 with 155 units sold. Sales of single family homes increased 3.2 percent from September 2022 with 228 sold.

 

“What we saw in our market last month was a continuation of the seasonal market trend we expect in a typical year as we move into fall,” said Victoria Real Estate Board Chair Graden Sol. “We have seen a slight return to a more balanced…

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