Tuesday, October 03, 2017

Victoria Real Estate Market Changes Tempo for Autumn

A total of 640 properties sold in the Victoria Real Estate Board region this September, 18.1 per cent fewer than the 781 properties sold in September last year.

“We can certainly feel the difference in the current market when we compare to last year’s record breaking numbers. Last year the pace of the market was intense, there was a lot of pressure on pricing and demand,” notes Victoria Real Estate Board President Ara Balabanian. “Now the tempo of the market is trending slowly – very slowly – towards more balanced conditions. Recently we’ve seen overall price increases level out, which can indicate slightly less demand, and inventory is building.”

There were 1,976 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2017, an increase of 3.1 per cent compared to the month of August and 4.1 per cent fewer than the 2,061 active listings for sale at the end of September 2016.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2016 was $742,200. The benchmark value for the same home in September 2017 has increased by 10.9 per cent to $823,100.

“Simply because we’ve seen sales drop from last year is not dire or unexpected news for our local real estate market.” adds President Balabanian. “The ten year average for sales in September is 573 properties and the month exceeded that average by more than ten per cent, which indicates we’re still in an active market. And of course there are neighbourhoods that are still tracking up in terms of value from last year. It’s for reasons like these that now more than ever it makes sense to seek the assistance of a local REALTOR® to sell or buy your home.”

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

Tuesday, August 22, 2017

Wonderful clients and

Very Happy!



We had 3 agents price out our home for sale.  The first agent said "I can get you $720,000", the second agent said "Let's start at low $700,000 and see if we can get a bidding war" and the last agent was Lorne, who said "You have a fantastic yard and garden. This increases the home value significantly and I can sell it to a garden lover for $820,000".  We were so happy that Lorne saw the value in our garden that we have put so much love into.  And guess what? He did sell it for exactly $820,000.  Thanks so much Lorne!  We also appreciated your super positive attitude and your recommendations for all the other contacts needed to complete the sale. The Van Dyk family  August 2017

Tuesday, July 04, 2017

SOLD 414-50 Songhees Dr.
Priced at $739,900 SOLD
 Kitchen
Living Room 
Living/Dining area 
Balcony 
 View

COMPLETELY RE-DONE Luxury home! This incredible 2 bedroom 2 bathroom 1,200 sqft unit in Songhees Point has stunning views of the inner harbour and Olympic mountains from every room. NEW EVERYTHING including: hardwood floors, tile (kitchen, entry-way, bathrooms, fireplace & Surround), paint, baseboards, trim, stainless steel appliances, quartz counter tops (kitchen + bath), soft-close cabinets (kitchen + bath), toilets and all fixtures. Not a detail has been missed! Other amenities include: In suite laundry, underground secure parking and separate storage. Don't miss out on this fantastic unit! To vie call Lorne Tuplin at RE/MAX Camosun 250-217-4600

Victoria Real Estate Market Continues Tempo of Steady Sales Throughout June

July 4, 2017 - "This year may feel a bit steady and less exciting when compared to last year's record-breaking market. People are getting used to this new tempo of brisk sales," says 2017 Victoria Real Estate Board President Ara Balabanian. "However, when we look at the longer term numbers, we're in a very active market. This June we counted over one thousand properties sold, while the ten year average for sales in the month of June is 798. If we remove 2016 sales, this June would have been the record breaker."
A total of 1,008 properties sold in the Victoria Real Estate Board region this June, 14.1 per cent fewer than the 1,174 properties sold in June last year.
There were 1,915 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2017, an increase of one per cent compared to the month of May, but 16.3 per cent fewer than the 2,289 active listings for sale at the end of June 2016.
"The good news for buyers is that inventory is slowly starting to build," adds President Balabanian. "But buyers can still anticipate multiple offer scenarios in certain high demand neighbourhoods where inventory is being bought at a more rapid pace. It's never been a better time to be a seller, with MLS® Home Price Index prices at a record high for the Victoria Core."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in June 2016 was $721,000. The benchmark value for the same home in June 2017 has increased by 15.1 per cent to $829,600.


Monday, June 19, 2017

New Listing on 1057 Tulip Ave

SOLD Gorgeous home, Fantastic yard! SOLD
$799,900 - See it now!
Living Room 
Kitchen 
 Dinette with Garden Window
 Family Room
Patio just off family room 
 Patio
 Back Yard
 Back Yard
Absolutely stunning, private gardens surround this 1987 home in the popular Marigold area. Toward the end of a no-thru street, quiet and solitude predominates. 3 bedrooms up, 3 bathrooms. An open loft/den/study area full of light. Separate dining room, open efficient kitchen with newer stainless appliances, dinette with a garden window. Living room with wood burning fireplace. Lovely etched glass doors off the main entry. Double doors from the family room lead to a yard & patio are so welcoming you won't want to leave. Total privacy & solitude is yours in this South facing masterpiece! Offers are not delayed. Come see it & buy it!  Call me to view. Lorne Tuplin 250-217-4600