Monday, December 01, 2014


Steady Real Estate Market Continues in Victoria as 2014 Sales Surpass 2013 Numbers

December 1, 2014, Victoria BC - The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for November 2014.

465 properties sold in the Victoria region this November, an increase of 12.9% when compared to the 412 properties sold in November last year.

"This year has been great for Victoria real estate, we've seen a friendly market for buyers and sellers thanks to steady pricing and low mortgage rates," Victoria Real Estate Board President Tim Ayres says. "By early last month sales in the Victoria area met the number of total sales we saw for the entire year of 2013, and now we are 5.18% over last year's sales with another month to go before year end."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $482,300. This month the benchmark value increased 1.4% to $489,000.

Another statistic to watch is the number of active and new listings. 682 properties were listed this November, and the total number of properties listed for sale including those newly listed was 3,631. That's 9.6% fewer properties for sale than November last year.
Graph - Price change for 2014


Graph: Prices for Homes, Townhouses & Condos for 
Greater Victoria so far 2014

Thursday, November 06, 2014

Strong Victoria Real Estate Market Again in October

The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for October 2014.
 
602 properties sold in the Victoria region this October, an increase of 17.6% when compared to the 512 properties sold in the same month last year.
 
"Here we are again, a month in 2014 ending with more sales than in 2013," Victoria Real Estate Board President Tim Ayres says. "This year has been a solid year for local real estate - indeed we are only 154 transactions away from meeting the total number of sales from 2013 - and there are two more months left in the year!"
 
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $547,800. This month the benchmark value increased to $553,900.
 
"All year we've seen a decrease in the number of active listings and increase in sales compared to 2013 numbers," adds President Ayres. "Last year at the end of October we saw 4,322 active listings, and this year we see 3,927 active listings, that's a 9.1% change."
 
STATS
 

Tuesday, October 07, 2014

October 1, 2014  Strong Sales and Stable Market Conditions Continue Through September

The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for September 2014.
565 properties sold in the region this September - an increase of 16% compared to the 487 properties sold in the same month last year. The quarter ending in September shows a 15% increase in the number of sales overall compared to the same quarter in 2013.
"Once again we see more houses sold this month than last September," Victoria Real Estate Board President Tim Ayres says. "We haven't seen sales like this in September since 2009. The balanced market conditions we've seen over the last seven months mean property prices are stable, so it might be more comfortable for buyers and sellers to make a move because they know that property values are predictable."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $550,900. This month the benchmark value increased to $556,200.
"There are some districts in the Victoria area that have seen an increase in their benchmark values, and others that are relatively flat compared to last year," adds President Ayres. "Since there is this difference within the local market, it's important to connect with your local REALTOR® to get an understanding of the market as it relates to your specific neighbourhood."
STATS Graph

Thursday, August 07, 2014

Surprising Summer Sales for Victoria and Area Real Estate

August 1, 2014, The Victoria Real Estate Board today released its monthly report on real estate activity in the Victoria area for July 2014.
681 properties sold in the region in the month of July 2014, compared to 583 last year in July - an increase of nearly 17%. June 2014 saw 680 sales.
When compared with year-to-date sales in 2013, 2014 shows a 10% increase.
"I think the activity in July has surprised a few people," Victoria Real Estate Board President Tim Ayres says. "Traditionally the summer market is slower than the spring, but numbers are tracking closely to March and April sales this year. Last year sales in July were 12% lower than in June - and June was the peak of the market in 2013. This year we see slightly more sales in July than in June. This is the first year since 2003 that July numbers have beaten June."
The MLS® Home Price Index (HPI) benchmark value for a single family home in the Victoria Core area in July was $562,000 - 2% higher than last year’s average value for the same home - $550,900.
Private acreage with updated home Affordably Priced at 629,900
    Main Photo
Bedrooms: 3
Bathrooms: 3
Parking Spaces: 6
Year Built: 1973
Subdivision: Walfred
Lot Size: 2.04 Acres
Garage Size: Double
Square Footage: 2,067
Agent Name: Lorne Tuplin
Broker: RE/MAX Camosun
MLS #: 340934
Price: CAD 629,900
836 Walfred Road
Victoria, BC V9C 2P2
  • Range/Oven
  • Full Refrigerator
  • Washer/Dryer
  • Dishwasher
  • Fireplace
  • Vaulted Ceilings
  • Basement
  • Patio
  • Swimming Pool
  • Grass Lawn
  • Secluded setting
Secluded, sunny 2.04 acre spot with substantially updated home. Features include open beam cathedral ceilings, Stone fireplace & cathedral style windows in living room, heated tile floors in kitchen & en suite bath & patio doors leading to 28' x 32' patio & small pool at back. Lower level has huge bedroom with en suite or could be family room. Lots of storage plus a double garage

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: 288988019
All information in this site is deemed reliable but is not guaranteed and is subject to change

Tuesday, April 22, 2014

Newer Up-scale Family Home
NOW SOLD
   Main Photo
   
Bedrooms: 3
Bathrooms: 3
Parking Spaces: 2
Year Built: 2006
Subdivision: Sunriver
Lot Size: 8,085 sq ft
Garage Size: Double
Square Footage: 2,142
Agent Name: Lorne Tuplin
Broker: RE/MAX Camosun
MLS #: 336170
2445 Driftwood Drive
Sooke, BC V9Z 0Y8
  • Range/Oven
  • Full Refrigerator
  • Dishwasher
  • Microwave
  • Central Vacuum
  • Fireplace
  • Hardwood Floors
  • Security System
  • Kitchen Island
  • Vaulted Ceilings
  • Patio
  • Fenced Yard
  • Grass Lawn
Best Sunriver “Willow” plan beautifully finished with $37,000 in upgrades. 18’ vaulted ceilings, transom windows, Brazilian cherry & ceramic flooring. Maple cabinetry, gas FA heat & security. Vaulted LR, in-line DR w/French doors to veranda. Gourmet kit w/island & eating area w/sliders to patio. Vaulted FR with natural gas stone fireplace. Main floor Master Bedroom has walk-in closet, 4 piece en suite bath & French doors to patio. Upstairs: lofted den & 2 bedrooms. Double garage. Large, S/W facing, fenced, gated & landscaped .19 acre lot with stunning rock boulder wall. An absolute must see.

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: 279054009
All information in this site is deemed reliable but is not guaranteed and is subject to change

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."
SOLD Affordable Waterfront Condo $239,900 SOLD 
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
SOLD  Updated Home, great location!
Reduced to 409,900.00 SOLD
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 #: 342951
Price: CAD 419,000.00
Flexibility: Negotiable
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, parksand 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)
 

Monday, February 24, 2014

JANUARY REAL ESTATE MARKET STARTS ON SOLID GROUND

Greater Victoria real estate sales moderated in November following a brisk June-to-October market. According to the Victoria Real Estate Board (VREB) MLS® System, 412 properties sold compared to 366 in November 2012, an increase of 12.6 per cent.

"We saw market activity slow down after a very busy five months," says Shelley Mann, VREB President. "While sales were higher than in November 2012, fewer sales than previous months indicate a pull back in consumer demand."
 
Flat employment and weak economic growth are likely contributors to a moderating market. Mann also notes that active listings continued to decline, with 4,017 at the end November compared to 4,488 in November 2012. December and January are typically the slowest months for real estate sales.
 
For November 2013, the MLS® HPI benchmark price for the Greater Victoria single family benchmark home was $482,300 and its corresponding index value was 136.5. (This represents a 36.5 per cent increase since January 2005, when the index was 100). This benchmark price decreased 0.72 per cent over the past month and decreased 3.11 per cent over the last year.
 
At the regional level, the benchmark price for the single family benchmark home in the Core municipalities was $548,600, an increase of 0.14 per cent over the previous month and a 1.65 per cent decrease over November 2012. In Westshore, the benchmark price for the single family benchmark home was $403,600, a decrease of 1.70 per cent over October 2013 and 5.94 per cent decrease over November 2012. The benchmark price for the single family benchmark home on the Peninsula was $508,000 for November, a decrease of 0.04 per cent over the previous month and a 2.57 per cent decrease year-over-year.
 
There was a total of 216 single family homes sold in November, an increase of 6.9 per cent over November 2012. November also saw the reporting of 99 condominium sales and 49 townhouse sales in Greater Victoria. Benchmark prices for the Greater Victoria condominium benchmark home and for the Greater Victoria townhouse benchmark home for November were $280,600 and $389,000 respectively.
 
Total Waterfront Single Family Dwellings sold: 9, up 3 over November 2012 
Total Non-waterfront Single Family Dwellings sold: 207, up 11 over November 2012
Single Family Dwellings sold over $1 million: 7 (1 over $2 million)