Custom Built home on Christmas Hill

2899 square feet  5 bedrooms, 4 baths
$1,499,000

Entry 

Living Room 

Dining Room 

Kitchen 

Kitchen 

 Master Bedroom

En Suite Bath 

Upper Deck 

Patio with Outdoor Kitchen 

Back Yard 

 View

View

Located on Rainbow St central to pretty much everything... shopping, schools, Elk Lake trails, and easy, quick drive to UVIC or downtown. This home offers 5 beds 4 baths and huge over-sized double garage. Tastefully designed & built to earthquake resistant standards. Energy efficient with triple glazed windows, 92% efficient fireplace and attention to detail found only in custom built homes. Lower level has 1 bedroom suite with floor plan well thought out with quality that even a parent would appreciate!. Upper level 3 beds with large luxurious master suite with lots of closet space and amazing 5 pc en suite bath. Gorgeous living space main level including office, gourmet kitchen that has to be seen to be appreciated with top of the line appliances. Other features include on demand tankless hot water, HRV System & substantial Seismic upgrades during construction. If a mortgage helper is on your list or large extended family this home has something for everyone! To view call Lorne Tuplin RE/MAX Camosun - 250-217-4600

Victoria Real Estate Market Slowly Stabilizing after a Record Breaking 2016

A total of 664 properties sold in the Victoria Real Estate Board region this October, 9.7 per cent fewer than the 735 properties sold in October last year.  

"As expected, we saw fewer sales than this time last year," notes Victoria Real Estate Board President Ara Balabanian. "Looking at the longer term picture however, sales last month were 17.1 per cent above the ten year average of 567 properties for the month of October, so the market is still very active here in Victoria, and this is in spite of the ongoing low inventory levels."

There were 1,905 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2017, a decrease of 3.6 per cent compared to the month of September and 1.7 per cent fewer than the 1,938 active listings for sale at the end of October 2016. 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2016 was $752,000. The benchmark value for the same home in October 2017 has increased by 9.3 per cent to $821,900, but is lower than July's value of $834,200.  

"The fact that we've seen such a controlled leveling off in the market directly following a year which felt so uncontrollable in terms of demand and pressure on prices illustrates the depth and stability of the Victoria market. An unstable market may have experienced a heavy correction or shift, whereas in our market sales are moderating at a reasonable rate." adds President Balabanian. "In the coming months we expect to see less inventory on the market, because the year end changes buyer and seller behaviors, their focus shifts to holidays and winter weather. One unknown influence that may play on the winter market is the upcoming mortgage stress test. Some buyers may move their purchasing timelines forward to make their home purchases before the stress test on uninsured buyers (those with a down payment of 20 per cent or more) becomes required January 1."

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 today 250-217-4600!