Wednesday, April 02, 2014

March 2014 Real Estate Activity in Victoria 


The Victoria Real Estate Board today released its monthly report on real estate activity in the Victoria area for March 2014.
575 properties sold in the month of March 2014, compared to 483 in March 2013 - an increase of nearly 20% year over year. However, the average sales for the month of March over the past five years is 607 properties per month, so though 2014 is stronger than the year previous, sales have not yet returned to the longer term average.

Victoria Real Estate Board President Tim Ayres says, "This time last year sales weren't outstanding - the market was sluggish. Tightened mortgage amortization rules resulted in slower sales as buyers adjusted to the new requirements. Property values were stable, but inventory didn't move quickly. This year we see more sales than last March."
Affordable Waterfront Condo $239,900
Main Photo
Bedrooms: 2
Bathrooms: 2
Parking Spaces: 1
Year Built: 1981
Subdivision: Saanich West
Located on Floor #: 1
Floors in Bldg: 4
Square Footage: 1066
Agent Name: Lorne Tuplin
Broker: RE/MAX Camosun
MLS #: 334670
Price: 239900
Price: CAD 239,900
Flexibility: Negotiable
Homeowner Dues: 266
104-71 Gorge Rd W
Victoria, BC V9A 1L9
  • Range/Oven
  • Full Refrigerator
  • Washer
  • Dishwasher
  • Fireplace
  • Patio
  • Swimming Pool
  • Hot Tub
  • Guest Parking
  • Recreation Centre
Ground Level Condo In Popular Cedar Shores Complex. This Is A Rare Waterfront Unit With Private Entrance Patio. Newer Kitchen, Freshly painted & fantastic views of the Gorge Waterway since it faces right on. Watch kayakers, dragon boats, harbour ferries & nature on this amazing tidal waterway! In Suite Laundry And Lots Of Storage. Spacious And shows well. Rooms are spacious & master has a walk-in closet with access to the main bath. Check Out The Pool, hot tub, sauna & tennis courts. Right on bus route & well maintained complex. One surface parking spot & wait list for underground. NOTE: Main floor unit can have laminate or hardwood floors.

Lorne Tuplin - RE/MAX Camosun
250-217-4600
37 years as a sales associate focused on First Class Service
Powered by vFlyer.com Equal Housing OpportunityVFLYER ID: 276524012
All information in this site is deemed reliable but is not guaranteed and is subject to change

Beside Cook St Village, Top floor, South Facing, Renovated  
$279,900
Main Photo
Bedrooms: 2
Bathrooms: 2
Parking Spaces: 1
Year Built: 1976
Subdivision: Fairfield
Located on Floor #: 4
Floors in Bldg: 4
Square Footage: 1059
Agent Name: Lorne Tuplin
Broker: RE/MAX Camosun
MLS #: 334766
Price: 279900
Price: CAD 279,900
#408 - 1101 Hilda
Victoria, BC V8V 4T2
  • Range/Oven
  • Full Refrigerator
  • Microwave
  • Hardwood Floors
This is your opportunity to live within strolling distance of Cook St. Village & the ocean front in a very appealing two Bedroom two bathroom south facing TOP FLOOR unit at a very affordable price! Beautiful UPDATED KITCHEN with granite tops, Newer HARDWOOD FLOORING, and MAIN BATHROOM. Enclosed balcony is spacious yet private with opaque glass on the lower half. Walk to dining, banking, grocery stores, fabulous Beacon Hill Park and the ocean. Easy walk to Starbucks, The Beagle Pub, Big Wheel Burger, Lifestyle Markets & much more!

Lorne Tuplin - RE/MAX Camosun
250-217-4600
37 years as a sales associate focused on First Class Service
Powered by vFlyer.com Equal Housing OpportunityVFLYER ID: 276587083
All information in this site is deemed reliable but is not guaranteed and is subject to change
Updated Character Home, great location!
$495,000
Main Photo
Bedrooms: 2
Bathrooms: 1
Parking Spaces: 1
Year Built: 1958
Subdivision: Camosun
Lot Size: 61 x 100
Garage Size: Single
Square Footage: 950
Agent Name: Lorne Tuplin
Broker: RE/MAX Camosun
MLS #: 334984
Price: $495,000
2840 Richmond Road
Victoria, BC V8R 4T7
  • Range/Oven
  • Full Refrigerator
  • Washer/Dryer
  • Fireplace
  • Hardwood Floors
  • Fenced Yard
  • Grass Lawn
Great starter or retirement Character rancher 2 bedrooms & 1 bath plus single attached garage. Fenced yard and a good crawl space for storage. Recent up grades include ceramic tile floors, 100 amp service, newer roof, thermal windows, hot water tank, updated bath fixtures and a new front door. Original Oak hardwood floors in main areas & brick-faced fireplace in living room. Great location, close to the newly updated Hillside Mall, parks & services

Lorne Tuplin - RE/MAX Camosun
250-217-4600
37 years as a sales associate focused on First Class Service
Powered by vFlyer.com Equal Housing OpportunityVFLYER ID: 277102002
All information in this site is deemed reliable but is not guaranteed and is subject to change

Monday, March 03, 2014

Real Estate Activity Continues Ahead of Spring Market 

Real estate market activity in the first two months of 2014 remained slightly ahead of the same period in 2013.
Total MLS® sales in February were 412, a 4.6 per cent increase over February 2013 when 394 units sold and a 20.5 per cent increase over the 342 sales reported to the Victoria Real Estate Board (VREB) in January 2014.
"It's encouraging that sales activity continues to increase as we move towards a healthy spring market," noted VREB President, Tim Ayres. "2013 spring sales were quite strong and we're hoping for a similar level of activity this year."
 
The MLS® HPI single-family home benchmark price for the entire Greater Victoria region was $483,400 in February, a 1.4 per cent decrease when compared to the February 2013 value of $490,100.
 
"With a $5 million condominium sale in February, it was no surprise to see average prices for condos rise last month from $328,130 to $373,749," said Ayres. "Since the introduction of the MLS® Housing Price Index (HPI) in November 2013, we've been saying the HPI is a much more reliable measure of price trend data than average prices. Our February MLS® HPI numbers prove it; even with the $5 million sale, February MLS® HPI benchmark pricing for condos in Victoria remained virtually unchanged with an increase of only $400."
 
At the regional level, the MLS® HPI benchmark price for the single family benchmark home in the Core municipalities was $547,800. This benchmark price is virtually unchanged when compared to both the previous month and February 2013. In Westshore, the MLS® HPI benchmark price for the single family benchmark home was $408,500, up 0.9 per cent from January 2014 and a 1.0 per cent decrease compared with last February. The MLS® HPI benchmark price for the single family benchmark home on the Peninsula was $502,600 for February, an increase of 1.1 per cent over the previous month and a 4.1 per cent decrease year-over-year.
 
There were 3,770 active listings at the end of February. While this is an increase from 3489 at the end of January, it is 7.4 per cent less than the 4072 listing that were available in February 2013. Inventory has been on a slow decline for most of 2013 but our normal cycle should result in more inventory as we move into Spring.
There were 107 condominium sales in February 2014, up from 92 in January and down from the 112 in February 2013. The region-wide MLS® HPI benchmark price in February for condos was $277,200, down 1.3 per cent from $280,800 from one year ago.
 
For townhomes, 42 sold in February compared to 30 in January and 43 in February 2013. The region-wide MLS® HPI benchmark price for townhomes was $401,500, up 1.4 per cent from $396,000 in February 2013.

Total Waterfront Single Family Dwellings sold: 8
Total Non-waterfront Single Family Dwellings sold: 219
Single Family Dwellings sold over $1 million: 15 (4 over $1.5 Million)