JVRE
110 - 4460 Chatterton Way V8X5J2 Victoria, BC, Canada

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Coming to market next week 1117 Finlayson St, Victoria - $849,900 A home everyone has been looking for. Centrally located character house with 2 beds suite mortgage helper. Very central location, a quick trip to downtown Victoria and immediate access to all levels of amenities and transit. Summit Park & Topaz Park very nearby. ... Easy maintenance property with new perimeter drains and vinyl windows upstairs, plus a brand new roof March 2021. Get in touch with me for more details. Amazing value !

The fast pace of Victoria real estate market surges on A total of 1,173 properties sold in the Victoria Real Estate Board region this March, 92.9 per cent more than the 608 properties sold in March 2020 and 35.9 per cent more than the previous month of February. Sales of condominiums were up 111.8 per cent from March 2020 with 377 units sold. Sales of single family homes were up 88.2 per cent from March 2020 with 574 sold. "Limited supply with overwhelming demand has been the... story for the first quarter of 2021, said Victoria Real Estate Board President David Langlois. This time last year was the beginning of the pandemic and most everything was shut down so we cannot compare year over year numbers but if we look at longer term trends, the average number of sales from the month of March in the past ten years before 2020 was 715 properties. Numbers from last month are close to the market trends we saw in 2016, but with an even greater imbalance in inventory due to a surge in consumer demand for homes in the Victoria area. There were 1,310 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of March 2021, 41.8 per cent fewer properties than the total available at the end of March 2020 and 0.6 per cent properties fewer than the 1,318 active listings for sale at the end of February 2021. "The underlying issue is a deficit in supply, explained Langlois. Supply needs to be addressed by all levels of government and particularly by local governments which control land use policies and development processes. Equally important, governments need to ensure that measures they make to moderate the housing market do not exacerbate the problem by attempting to suppress demand by adding costs or qualification barriers. These sorts of measures raise the overall cost of housing and add even more challenges for first time buyers. We need to continue to push for both increased supply and sensible government policies around housing. The Multiple Listing Service Home Price Index benchmark value for a single family home in the Victoria Core in March 2020 was $879,600. The benchmark value for the same home in March 2021 increased by 10.1 per cent to $968,700 a 2.2 per cent increase from the previous month of February. The MLS HPI benchmark value for a condominium in the Victoria Core in March 2020 was $531,800, while the benchmark value for the same condominium in March 2021 remained close to last year’s value at $529,100 a 0.5 per cent decrease.

March 2021 Victoria Real Estate Market demand surges against limited supply A total of 863 properties sold in the Victoria Real Estate Board region this February, 53.3 per cent more than the 563 properties sold in February 2020 and 33.6 per cent more than the previous month of January. Sales of condominiums were up 65.7 per cent from February 2020 with 290 units sold. Sales of single family homes were up 43.9 per cent from February 2020 with 390 sold....Continue reading

I wouldn’t say that anywhere in particular is used to seeing this type of competition among buyers, says our Senior Economist Shaun Cathcart. Learn more about the role #COVID19 played in the current market conditions #CREACafé

Feeling very fortunate and grateful to made it to top 25 for November Real estate has been a roller coaster and I am enjoying every minute of the ride. Thank you to all my friends, clients, and colleagues for the support. I wouldn't have made it without you Cheers

November 2020 Victoria Real Estate Board statistics: Victoria real estate market continues to experience strong demand, low supply A total of 795 properties sold in the Victoria Real Estate Board region this November, 37.8 per cent more than the 577 properties sold in November 2019 but 19.7 per cent fewer than the previous month of October 2020. Sales of condominiums were up 62.7 per cent from November 2019 with 262 units sold. Sales of single family homes were up 21.8 per ce...nt from November 2019 with 375 sold. Once again, we’ve tracked an unexpectedly busy month for the Victoria area real estate market, said Victoria Real Estate Board President Sandi-Jo Ayers. With near 800 total sales last month, we came close to the record for sales in a November - which was 892 sales in 1989." There were 1,813 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of November 2020, 24.4 per cent fewer properties than the total available at the end of November 2019 and a 14.6 per cent decrease from the 2,122 active listings for sale at the end of October 2020. I expect the question on most people’s minds is how long does this last, and is this sustainable, adds Ayers. The fact is, the market has out performed anyone’s expectations in the midst of this pandemic. There is a chance we will see a slow leveling of activity over the winter which is what we would expect seasonally. However, because of our consistently low inventory, pressure on pricing and multiple offer situations will likely continue as we remain in a demand-heavy environment. The Multiple Listing Service Home Price Index benchmark value for a single family home in the Victoria Core in November 2019 was $857,600. The benchmark value for the same home in November 2020 increased by 5.3 per cent to $903,100, a 2.7 per cent increase from the previous month of October. The MLS HPI benchmark value for a condominium in the Victoria Core in November 2019 was $517,400, while the benchmark for the same condominium in November 2020 remained close to last year’s value at $516,600, a 0.2 per cent fluctuation.

Out of town buyers surge in Victoria. Buyer origin data is out for the third quarter, and sure enough, there was a big jump in out of town buyers, mostly driven by a return of buyers from the lower mainland, but also increases from elsewhere in BC, Alberta, and the US. At about 25%, the level of out of town buyers is still shy of the recent peak in 2016 when we had a surge from the lower mainland, but it’s a big jump from the first half of the year and a stark reversal of a m...ulti-year trend of declining buyer interest. A couple hundred more buyers (pure demand), mostly concentrated on the detached side, likely explains a good chunk of the activity we’ve seen on that side of the market. Inventories were already low and that increased demand tipped it into crazy territory. Speaking of inventory, it’s not looking particularly promising. New listings have simply dropped off a cliff lately, and are barely above last year’s levels while sales are still substantially higher. Great article by Leo https://househuntvictoria.ca//out-of-town-buyers-surge-in/

Coming to market this Friday ! Great alternative to a condo. This open, bright townhouse is perfect for first time buyer or downsizing. 856sqft finished and 179sqft private patio. 2 bed, 1 bath in a well run, self-managed strata. Friendly and small 12unit complex. ... $385,000 Fun fact: a developer approached this complex about a year ago and 3 out of the 12 units wished not to sell. Otherwise this one entitlement would have been 650k. Not so fun for current seller !