Strong Victoria Real Estate Market Continues

The Victoria Real Estate Board today released its report on real estate activity for October 2015. A total of 734 properties sold in the Victoria Real Estate Board region this October, an increase of 21.9% compared to the 602 properties sold in the same month last year.
 

There were 3,170 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October, 19.3% fewer than the 3,927 active listings in October 2014.
 

"This is the twenty-ninth month in a row that we've seen monthly sales increase over the year before," Victoria Real Estate Board President Guy Crozier says. "This month we also saw sales numbers surpass the total for last year - in 2014 there were 6,698 sales and as of October 31, 2015 there are 7,257 sales on record with two months to go in 2015! We're looking down the home stretch of 2015 and there is no sign of a market slow down."
 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core last year in October was $555,900. The benchmark value for the same home in October 2015 has increased by 9.4% to $608,200.

What's President Crozier's advice to buyers shopping for their perfect home? "It's critical to work closely with your REALTOR® to stay on top of the market. With home sales almost at the pace of new listings, the market is moving quickly and some homes in high demand areas like the Victoria Core are selling in days. Working with your Realtor on a plan of what you require over the course of the transaction can remove stress and risk from the process."
 

For detailed information on the Victoria and area housing market, call Lorne Tuplin today 250-217-4600!

Is it an Endless Summer for Real Estate in Victoria?

The Victoria Real Estate Board today released its report on real estate activity for September 2015. A total of 704 properties sold in the Victoria Real Estate Board region this September, an increase of 24.6% compared to the 565 properties sold in the same month last year.

There were 3,478 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September, 18.2% fewer than the 4,253 active listings in September 2014.

"We certainly have less inventory in the market than we saw at this time last year," Victoria Real Estate Board President Guy Crozier says. "Though higher sales have contributed to a reduction in the available inventory, with almost 1,000 new listings entering the market in September, there is still a continual supply of new inventory for those folks who hope to make a move."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core last year in September was $558,600. The benchmark value for the same home in September 2015 has increased by 8.7% to $607,100.

"While September often signals the re-start of the market after the traditional summer slowdown in sales activity, our market remained strong right through the summer and September," notes President Crozier. "This September is different than past years. Our busiest month last year was in May, and 714 properties sold. That's only 10 more transactions than we saw in September this year. The question now is - will we see the normal winter lull in sales and listings or will the market continue at this pace?"

For detailed information on the Victoria and area housing market, call Lorne Tuplin today 250-217-4600

Victoria Real Estate Market Remains Strong All Summer

The Victoria Real Estate Board today released its report on real estate activity for August 2015. A total of 741 properties sold in the Victoria Real Estate Board region this August, an increase of 21.7% compared to the 609 properties sold in the same month last year.

"Consumer confidence in our area continues to be one of the main drivers of the spring and summer market surge," Victoria Real Estate Board President Guy Crozier says. "In terms of single family home sales, this month we saw the highest number sold in the month of August since 2007. A total of 379 single family homes sold in August 2015, compared to 399 in August 2007."

There were 3,688 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August, 14.6% fewer than the 4,316 active listings in August 2014.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core last year in August was $556,600. The benchmark value for the same home in August 2015 has increased by 8.37% to $603,200.

The Canadian Mortgage and Housing Corporation announced new rules for buyers who have less than a 20 per cent down payment," notes President Crozier. "Starting at the end of September, buyers who apply for mortgage loan insurance from CMHC will be able to include 100 per cent of the projected income from secondary suites. A change like this may buoy the market through the fall and winter, and we may see increased pressure on areas that permit suites. We'll watch over the upcoming months and track any trickledown activity."

Another Hot Summer Month of Sales for Victoria Real Estate Market

The Victoria Real Estate Board today released its report on Multiple Listing Service® real estate activity in the Victoria area for July 2015. A total of 796 properties sold in the Victoria Real Estate Board region this July, compared to the 681 properties sold in the same month last year.

Sales dropped a little from the spring as we would expect, but are still up a very healthy 16.9% over last year."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $564,300. The benchmark value for the same home this month has increased by 6.3% to $599,800.

There were 3,942 active listings for sale on the Multiple Listing Service® at the end of July, 13.7% fewer than the 4,570 active listings in July 2014.

Consumer confidence remains very strong and shows no sign of falling off in the coming months. Interest rates continue to be very favourable.

SOLD! Brentwood Bay One Level Townhouse - $429,900 Bedrooms: 2 Bathrooms: 2 Parking Spaces: 1 Year Built: 1991 Subdivision: Brentwood Bay Attached on: 1 Side Garage Size: Single Square Footage: 1365 Agent Name: Lorne Tuplin Broker: RE/MAX Camosun MLS #: 353490 Price: $429,900 6880 Wallace Dr Unit 1402 Brentwood Bay, BC V8M 1N8 View Map View More Photos My Web Site Range/Oven Full Refrigerator Washer/Dryer Dishwasher Microwave Central Vacuum Fireplace Hardwood Floors Patio Grass Lawn SOLD! You will love this bright, tastefully updated & freshly painted one level end unit. This superb residence offers spacious living & dining rooms with scraped Maple engineered hardwood, slate entry & trim on fireplace & new stainless steel fridge, stove, dishwasher & OTR microwave. New roller blinds also stay. Large master with walk in closet and 5 piece en suite. Partial ocean views, covered patio and plenty of room for BBQ & lounge furniture. Prestigious Port Royale Estates is a private oceanfront community overlooking the Brentwood Bay Marina. Excellent location near amenities, stroll the waterfront walkway or walk to the Village of Brentwood Bay for shopping, restaurants and more Lorne Tuplin - RE/MAX Camosun 250-217-4600 38 years as a sales associate providing First Class Service Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 308179000

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

Victoria Real Estate Market Remains Hot as Spring Trend Continues into Summer

The Victoria Real Estate Board today released its report on Multiple Listing Service® real estate activity in the Victoria area for June 2015. A total of 910 properties sold in the Victoria Real Estate Board region this June, a 33.8% increase compared to the 680 properties sold in the same month last year.

"The Victoria real estate market has had another big month - and we continue to see consistent year over year sales growth," Victoria Real Estate Board President Guy Crozier says. "What's going on? Positive market conditions such as the low interest rate along with the diverse mix of properties and price points available have likely helped support this increase in interest in local real estate. The activity in the market may also in part be due to pent up demand from the past six or seven years. The market cooled off around 2008, and with the US markets improving and our local economy showing strength, consumer confidence is improving. Those that may have been hesitant to move over the last few years are making a change now."  

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $568,600. The benchmark value for the same home this month has increased by 4.61% to $594,800.

There were 4,003 active listings for sale on the Multiple Listing Service® at the end of June, 14.7% fewer than the 4,695 active listings in June 2014.

"We saw 48 single family homes sell for over one million dollars this month, and we saw 74 single family homes sell for under $400,000," adds President Crozier. "There's also a lot of selection in our condo market, with new development in the Victoria Core and in the West Shore helping to meet demand, and maintain solid pricing.

SOLD! Walk Everywhere! - $237,900.00 Bedrooms: 2 Bathrooms: 2 Parking Spaces: 1 Year Built: 2006 Subdivision: Langford Located on Floor #: 2 Floors in Bldg: 4 Square Footage: 888 Agent Name: Lorne Tuplin Broker: RE/MAX Camosun MLS #: 347417 Price: 237900 Price: $237,900.00 825 Goldstream Ave #212 Victoria, BC V9B 0C3 View Map View More Photos Web site Full Refrigerator Washer/Dryer Dishwasher Microwave Fireplace Guest Parking SOLD! Welcome to Citiwalk boasting lovely freshly painted suite with 9' ceilings, new carpet, 6 Appliances, new laminate flooring, electric fireplace and in-suite laundry. This 2 Bedroom, 2 full Bathroom, North East Facing Condo Overlooks the Courtyard and Fountain called Lavender Square. Perfect layout for having a room mate. Underground secure Parking & Storage plus good size deck (BBQ allowed). Affordable living in the downtown Westshore where shops, restaurants, and box stores are just a short walk away. Located well off Goldstream Ave. providing peace and quiet. Bonus: Rentable, Pets welcome and no age restrictions. Ride the trolley bus up to Bear Mountain or to Westshore Mall. This neighbourhood truly has it all. Floor plans available. Lorne Tuplin - RE/MAX Camosun 250-217-4600 38 years as a sales associate providing First Class Service Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 305200008

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

Victoria Real Estate Market Activity Continues to Exceed Expectations

The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for April 2015. A total of 840 properties sold in the Victoria region this April, a 26.5% increase compared to the 664 properties sold in the same month last year.

"We've seen modest sales increases in the area for the past two years, which we've attributed to a growing consumer confidence in the market," Victoria Real Estate Board President Guy Crozier says. "The past three months have been exceptional, and I think have surprised most people watching the market; I certainly haven't seen forecasts even close to the numbers we see today. It's possible that consumers who were hesitant to make a move or purchase their first house during the recent economic downturn may have waited to see conditions like we see now - the favourable interest rates, good selection of prices and properties, and increased confidence in the local economy."

There were 3,945 active listings for sale on the Multiple Listing Service® at the end of April, 10.4% fewer than the 4,404 active listings in April 2014.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $562,000. The benchmark value for the same home this month has increased by 3.5% to $581,700.

"The last time we saw this many transactions in an April was in 2007 when we saw 898 sales," President Crozier adds. "The market is good, but prices aren't crazy - despite the activity levels, values in our local market are still recovering from the peaks we saw in 2008 and 2010. Depending on the area, single family property values are as much as nine percent below the 2010 values. It is a great time to buy or sell property in our area."

SOLD 2 Story For Sale in the Glen Lake Area SOLD

2763 Ronald Road 

 

 Home with suite

• 2,316 sq. ft., 3 bath, 4 bdrm 2 story strata duplex -  $439,900 - Priced for Quick Sale

Glen Lake, Langford  -  Great family home with many recent high quality renovations. Superb kitchen with soft close doors & drawers, granite counter tops, heavy gauge stainless under hung sinks, top of the line Kitchen Aid appliances, new lighting & heated ceramic floor. Spacious living room with garden doors to huge deck with new glass & cedar rails & torch on vinyl surface. Master has en suite bath & walk-in closet and the other two bedrooms are a good size. Down you will find a den, shared laundry & large one bedroom suite. Newer furnace, water heater, roof. Electrical recently upgraded to 200 amp. Insulated garage door with opener.

Newer kitchen with granite tops

Living Room with fireplace & French doors to deck

Dining room off Kitchen

Huge deck off Living Room

Spacious Master Bedroom with walk-in closet & en suite bath

Call Lorne to view at 250-217-4600.  RE/MAX Camosun

Another Busy Month for the Victoria Real Estate Market

April 1, 2015, Victoria BC - The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for March 2015. A total of 734 properties sold in the Victoria region this March, a 27.7% increase compared to the 575 properties sold in the same month last year.

"We saw 393 single family homes in the region sell in the month of March. The last time we saw numbers this high in March was in 2010 when 414 single family homes sold," Victoria Real Estate Board President Guy Crozier says. "And though we see sales numbers have increased compared to last year, we see fewer active listings for sale compared to last year."

There were 3,769 active listings for sale on the Multiple Listing Service® at the end of March, 6.9% fewer than the 4,050 active listings in March 2014.

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $560,500. The benchmark value for the same home this month has increased by 1.64% to $569,700.

"Why the increase in activity? We expect the market to be busy in the spring - real estate has a seasonal trend. Interesting this year was that the momentum we saw in the market over the course of 2014 has continued to increase," President Crozier adds. "Consumer confidence in local real estate appears to be high, and it's likely that buyers are taking advantage of low interest rates."

SOLD Affordable attractive Condo Reduced to $185,000 SOLD Bedrooms: 2 Bathrooms: 1 Parking Spaces: 1 Year Built: 1975 Subdivision: Esquimalt Located on Floor #: 2 Floors in Bldg: 3 Square Footage: 1011 Agent Name: Lorne Tuplin Broker: RE/MAX Camosun MLS #: 346948 Price: $185,000 #2 1390 Esauimalt Rd Victoria, BC V9A 3R2 View Map View More Photos Web Site Range/Oven Full Refrigerator Washer/Dryer Microwave Fireplace Hardwood Floors Unique small 5 suite building close to DND. Spacious 2 Bedroom with newer kitchen with granite counter tops, newer vinyl windows, large living-dining room with gas fireplace, lots of windows & south facing so very bright & sunny. Deck on front & side, Insuite laundry room, building has sauna, workshop, meeting room & lovely garden area. Close To All Amenities & Ocean. Unit shows very well and all furnishings are negotiable. Lorne Tuplin - RE/MAX Camosun 250-217-4600 38 years as a sales associate providing First Class Service Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 304363000

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

SOLD Super Quiet & Private Location - Reduced to  539,900.00  SOLD Bedrooms: 3 Bathrooms: 3 Parking Spaces: 2 Year Built: 2003 Subdivision: Granville Lot Size: 6,895 sq feet Garage Size: Single Square Footage: 1,822 Agent Name: Lorne Tuplin Broker: RE/MAX Camosun MLS #: 345942 Price: CAD 539,900.00 Flexibility: Negotiable 4147 Gliile Road Victoria , BC V9E 2C7 View Map View More Photos Web Site Range/Oven Full Refrigerator Washer/Dryer Dishwasher Fireplace Kitchen Island Patio Grass Lawn Secluded setting Immaculate 2003 built 3 bedroom home with great street appeal. Located on a super quiet no through street, this 2 storey home has a spacious dream kitchen with all appliances and island, Large Dining to accommodate family gatherings and spacious living room with fireplace and bay window. Main floor also has 2 pc bath and laundry room. Upstairs you will find a huge master bedroom with walk in closet & 4 pc en suite with soaker tub and separate shower, two more bedrooms and 4 pc main bath. This home is move-in ready and has tons of yard space and wrap around 2 level patio with custom rock wall. Single garage with a long driveway and plenty of parking spaces. Lorne Tuplin - RE/MAX Camosun 250-217-4600 38 years as a sales associate providing First Class Service Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 302405003

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

Will Real Estate Sales in Victoria Continue the Upward Trend Into 2015?

January 1, 2015, Victoria BC - The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for December, 2014.

389 properties sold in the Victoria region this December, an increase of 9.6% when compared to the 355 properties sold in December last year. Overall, 2014 saw 11.67% more sales than in 2013.

Graph - Price change for Jan - Dec 2014

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

389 properties sold in the Victoria region this December, an increase of 9.6% when compared to the 355 properties sold in December last year. Overall, 2014 saw 11.67% more sales than in 2013.

Thinking about moving to Victoria?