Gregory Schadt Real Estate
#110-4460 Chatterton Way V8X 5J2 Victoria, BC, Canada

With "half of houses going in bidding wars and the median sale at 26% above assessed value so far in February", how long will it last? Last time it was 6 months, and we're at least 4 months in. Unlike last time, this current market spike started in the winter. Leo expects another 1-2 months of this craze, while my gut says it will last at least the Spring and possible early summer. What do you think?

Already February is blowing away Feb 2020 sales - no surprise! A quick look at that inventory number points to one of the main culprits. We need more houses for sale in Victoria for things to be more reasonable. For now it is a fantastic time to list!

BC Housing increases surprisingly are trending below most of the provinces. There's been an average increase of 22.8% for homes, compared to January 2020. February has been incredibly active, and we're on track to break some more records. Curious what this could mean for you? Let's start a conversation!

"Many of those over-asks are going in unconditional offers to strengthen offers, with buyers struggling to do pre-inspections while COVID restrictions mean that many are committing a million dollars based on a half hour viewing, or even sight unseen." The need for a trusted professional is more important than ever in markets like this. It's a full time job to stay on top of price, trends, and for consultation on when it makes sense. I'd recommend this article as a primer for anyone considering buying/selling in todays market.

On the 700's block of Station Ave "a six-storey affordable seniors building that will house a food bank, and an adjacent two-storey legion complex with a banquet space and 17 lodging spaces for the Wounded Warriors organization." I'm always a supporter of mixed development, so that we have a variety of housing options for all people in Victoria and Langford. My only concern is that being on Station Ave the nearby Floyd's will need an expansion! (If you haven't been, get the Mahoney) Where would you want to see more affordable housing options built within Victoria?

40% less new condo starts and an already low Victoria residential inventory. Now that we're seeing this low inventory impact prices so aggressively, would it not be the time to build more? Also, a question to you Victoria residents: where do you think they build up, and what kind of properties?

Condos still stand as a great ROI in this article about Investment properties in Victoria Core. Especially once you look at condos built after the 90's building code!

More sales, less inventory - Buyers in todays market have to plan and be prepared to act!

We foster cats through Cat's Cradle, and will be needing a home for these cuties in about 4 weeks! If you're interested, please send a message and check out: http://catscradleanimalrescue.com/adoptions/how-to-adopt/

Young first time buyers in a competing offer? It's hard out there, but we got a great home for these two! Congrats again Justin and Madeleine!

So happy to hear back from a client after a great Sale and Purchase - Excited for your move Gail!

We've seen some amazing interest rates lately, and it looks like it will continue until 2023! With money this cheap it's a great time to consider a move.