James Bay


Homes in James Bay

James Bay has one of the most coveted locations in the city. Surrounded by water on three sides with the Victoria Harbour to the north and west, and the Strait of Juan de Fuca to the south. It is a high density neighbourhood and occupies the south side of the Inner Harbour close to downtown. James Bay's extensive waterfront is alive with activity including an array of industry, government and transportation facilities.   James Bay is known for its lively waterfront and charming Victorian houses and is the city’s oldest urban neighbourhood. A commercial area, named ‘James Bay Village’ is centred on the intersection of Menzies and Simcoe Streets and is the heart of the neighbourhood filled with local shops…

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 VIC WEST

Victoria West Homes

Victoria West, commonly called 'Vic West', is a historic neighbourhood in the city of Victoria.  It's located just west of downtown, across the Victoria Harbour and bordering on the Township of Esquimalt. Victoria West is an eclectic community, nestled on a peninsula surrounded by water and connected to Victoria’s downtown core by two city bridges and the Selkirk Trestle. For those seeking a neighbourhood that boasts superior accessibility to both Victoria’s downtown core and the tranquility of West Coast waterfront, Victoria West may be the ideal urban oasis for you.   The neighbourhood is diverse, from its modern harbour-front condominium complexes such as the Railyards and Dockside Green, to…

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MARKET REPORT - April 2023

Victoria Market Report


Early spring market reflects consumer confidence and growing demand

 

April 3, 2023: A total of 590 properties sold in the Victoria Real Estate Board region this March, 29.2 per cent fewer than the 833 properties sold in March 2022 but a 28.3 per cent increase from February 2023. Sales of condominiums were down 29.4 per cent from March 2022 with 197 units sold. Sales of single family homes decreased 31.8 per cent from March 2022 with 281 sold.

 

“We’ve seen our sales numbers this month almost double from January,” said Victoria Real Estate Board Chair Graden Sol. “As we move further into spring, we expect that the return to confidence we’ve seen in the market will continue. What we…

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The Price You'll Pay To Live In Victoria, BC

Are you considering moving to our beautiful city of Victoria? If so, you may want to know more about the living expenses in this picturesque coastal city on Vancouver Island. The cost of living in Victoria British Columbia is relatively high compared to other Canadian cities. Whether the cost of living in Victoria is worth it, depends on a variety of factors such as your lifestyle, income and personal preferences. Victoria is considered to be one of the most desirable cities to live in Canada due to its mild climate, beautiful natural surroundings and a vibrant cultural scene.  There are several reasons why it is more expensive to live in Victoria, BC than in other parts of Canada.
  • High…

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MARKET REPORT - MAR. 2023

Victoria Market Report

Winter real estate market wraps with improved consumer confidence and more stable pricing

March 1, 2023  A total of 460 properties sold in the Victoria Real Estate Board region this February, 35.9 per cent fewer than the 718 properties sold in February 2022 but a 65.5 per cent increase from January 2023. Sales of condominiums were down 39.7 per cent from February 2022 with 161 units sold. Sales of single family homes decreased 28.8 per cent from February 2022 with 220 sold.

"Last month we talked about the optimism building in the local market that our REALTORS® saw, and now we can see it in the market statistics," said Victoria Real Estate Board Chair Graden Sol. "We can confirm the return…

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Are you looking for the perfect place to call home?
Look no further than Oak Bay, Victoria BC!

This attractive suburban community on the south tip of Vancouver Island has a population of 18,000 and is home to a few of the most sought-after properties on the West Coast. With well-asserted homes and gardens, bakeries, shops and additional unique trades, you’ll have plenty of comforts at hand to explore. With its private and public schools close by, it’s an ideal place to raise a family. 

Oak Bay is a municipality of the Capital Regional District of Greater Victoria, British Columbia on Vancouver Island that is situated approximately three kilometres from the downtown core. The region has picturesque scenery, roads and pathways for promenading,…

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Market Report - Feb. 2023 

Victoria Market Report

A slow start to the year may not foretell the future for the Victoria housing market

February 1, 2023  A total of 278 properties sold in the Victoria Real Estate Board region this January, 41.4 per cent fewer than the 474 properties sold in January 2022 and a 13.1 per cent decrease from December 2022. Sales of condominiums were down 46.3 per cent from January 2022 with 101 units sold. Sales of single family homes decreased 33 per cent from January 2022 with 120 sold.

"If you're looking at the statistics, this January was one of the slowest we've seen on record," says 2023 Victoria Real Estate Board Chair Graden Sol. "However, we did see a mid-month surge in activity as buyers seemed to…

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Assessed Value vs. Market Value



Assessed Values:

How does BC Assessment Determine Property Values?

  • The location of the home
  • The size of the home
  • The size of the lot
  • The age of the home
  • Miscellaneous features that can affect the home's value
  • Comparable sales prices and other real estate market information

Information is collected through a comprehensive approach from a variety of sources for accuracy such as: building permits, land titles office, real estate transactions, property owner initiated updates, request sent to property owners, visits to properties, aerial and street front imagery.

The value of your property may have changed if you have:

  • Renovated recently ie. replaced kitchen cabinets
  • Added any…

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Prohibition on the Purchase of Residential Property by Non-Canadians (Foreign Buyers Ban)

Last week, the federal government released the supporting regulations for the 'Prohibition on the Purchase of Residential Property by Non-Canadians Act' (Foreign Buyers Ban) which includes definitions, exceptions, and enforcement elements to help individuals understand and comply with the law.   

The measures were part of Bill C-19 – the Budget Implementation Act – which received royal assent on June 23, 2022 as the federal government looked to cool the hot housing market. 

Read more from Finance Minister Chrystia Freeland : Bill C-19 - The Budget Implementation Act (Immigration.ca)

Parliament passed the 'Prohibition on the Purchase of Residential…

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Victoria Market Report


The 2022 Victoria Real Estate Market Year in Review


January 3, 2023  A total of 320 properties sold in the Victoria Real Estate Board region this December, 26.9 per cent fewer than the 438 properties sold in December 2021 and a 16.7 per cent decrease from November 2022. Sales of condominiums were down 38.2 per cent from December 2021 with 94 units sold. Sales of single family homes decreased 24.6 per cent from December 2021 with 156 sold.

A grand total of 6,804 properties sold over the course of 2022, 32.3 per cent fewer than the 10,052 that sold in 2021. 2022 sales came closest to 2014's sales year when 6,698 properties were sold.

"We began the year with record low inventory, and with higher than average sales," says…

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