Tuesday, February 07, 2017

New Listing
403-1083 Tillicum Road $449,900

 Kitchen
 Kitchen
Dining area
Living Room
Master Bedroom

En suite bath

Park-like setting leading to Dock

Dock

Immaculate, updated top floor unit in a gated California style waterfront complex with boat moorage & Gazebo overlooking the Gorge! Renovations include updated kitchen & Corian counter tops, Crown Moldings through main areas, updated en suite bath with huge Onyx oval tub & vanity top, & updated flooring. Two skylights, lots of windows and 9' ceilings make this well decorated unit sparkle. This plan has a spacious kitchen, very open floor plan & natural gas fireplace in the living room. Access to the balcony from both living room & master bedroom. Complex has a meeting room, secured kayak, canoe & bike storage, workshop, exercise room & guest suite and on site manager. Views across the inner courtyard to the Gorge waterway. To view, call Lorne Tuplin - RE/MAX Camosun 250-217-4600



Tuesday, January 31, 2017

NEW LISTING402-611 Goldstream Ave

Kitchen
Kitchen
Living Room
Living Room
Bedroom
Bath

FAIRWAY GREEN" in the heart of the Westshore, next to the Royal Colwood Golf Course. One bedroom top floor with 9' and 11' ceilings with skylights, floor to ceiling windows & skylights give this unit a lot of natural light. Large kitchen with stainless steel appliances, granite countertops, breakfast bar, & spacious living room with bamboo floors. Walk to downtown Langford, medical facilities across the street, Westshore Mall and Millstream Centre are only a 5 min. drive as is Juan De Fuca Rec., City Park Centre and Royal Colwood golf course is in your back yard. Underground secure parking & pet friendly! To view, call Lorne Tuplin - RE/MAX Camosun 250-217-4600







Wednesday, January 04, 2017

Victoria Real Estate Market's Record Breaking 2016, Demand Likely to Continue in 2017

A total of 471 properties sold in the Victoria Real Estate Board region this December, 1.3 per cent more than the 465 properties sold in December last year.
Inventory levels edged lower than last year, with 1,493 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2016, 40.7 per cent fewer than the 2,517 active listings at the end of December 2015.
"As we expected, 2016 broke records in terms of the number of properties sold in our area," notes Mike Nugent, outgoing 2016 President of the Board. "10,622 properties sold, which exceeds our previous high of 9,241 sales in 1991."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2015 was $613,600. The benchmark value for the same home in December 2016 has increased by 23.6 per cent to $758,500.
"We expect sales to continue to be strong but we don't expect to see the phenomenal activity we saw in 2016 for 2017. Inventory continues to be low," adds President Nugent. "You can't sell something that isn't there. There is certainly an ongoing demand for properties. This is reflected in the fact that 25 per cent of sales this month sold over their asking price. The majority of these properties were in the up to $750,000 price point, so your average buyer will face a competitive market."
The graphic below shows market price activity in Greater Victoria the past year
If you are considering buying or selling anywhere on the South Island,
call 
Lorne Tuplin today 250-217-4600!

Thursday, December 01, 2016

High Demand Continues as Inventory Shrinks in the Victoria Housing Market


A total of 599 properties sold in the Victoria Real Estate Board region this November, 4.5 per cent more than the 573 properties sold in November last year.

Inventory levels remain lower than last year, with 1,815 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2016, 38.5 per cent fewer than the 2,952 active listings at the end of November 2015.

"Our current housing market is in a strong cycle due to many factors, including our current positive economic conditions, baby boomers retiring here, millennial buying cycles, a low Canadian dollar keeping folks closer to home and our favourable living conditions," notes Mike Nugent, 2016 President of the Board. "These factors and others, in combination with ongoing low inventory mean demand for housing is up, particularly in those areas close to the core and amenities."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in November 2015 was $608,600. The benchmark value for the same home in November 2016 has increased by 23.9 per cent to $753,800.

"Foreign buyers are another factor that affects our local housing market. The provincial government is considering implementation of a local tax on foreign buyers to ensure pressure on pricing from that source remains mitigated," adds President Nugent. "While October data shows an increase in foreign buyers into the Capital Regional District compared to previous months, their 6.3 per cent of property transfers indicate that these buyers are one factor in the marketplace. A much larger factor affecting affordability and availability right now is the lack of inventory. An effective method to address housing affordability issues could be through efforts to increase the supply of housing, either through adjustments to zoning or density."

Saturday, November 05, 2016

New Victoria Listing

New Listing
3117 Alder St  $699,900
 Living Room
 Dining Room
Kitchen 
 Master Bedroom
 Main Bath
Back Yard 
Front in Bloom 
Well cared for 80's home with recent updates including Laminate floors and new vinyl in kitchen and bathroom, recently painted and 30 year roof 5 years ago. Wood stove with brick surround keeps the main floor toasty. There is a main floor suite with separate entry that is rented at $1,200/month. Garage is oversized single with 220 plug in. Great home in a fantastic location. To view, call Lorne Tuplin 250-217-4600