April  2024 The Greater Victoria real estate market is beginning to pick up as we enter the spring season. More homes are hitting the market this year which bodes well for Buyers. Prices remain stable and actually increased slightly in March for the first time in months. The Bank of Canada kept it’s overnight rate the same this week so there is no relief coming with mortgage rates at this time. Overall, the market should remain the same for the coming months, with inventory increasing and sales volume remaining lower than usual for this time of the year. Below are some of the statistics ..read more

  March  2024 The Victoria real estate market is entering the spring market with higher inventory and more choice for Buyers. With monthly listings far surpassing monthly sales, Sellers must price their homes competitively if they are to attract Buyers. The Bank of Canada did not make any rate changes last week, but most are predicting they will begin to lower rates at their next meeting in late April or by the mid June meeting. Below are some of the statistics for February 2024 Listing Inventory: There were 2,364 active listings for sale on the Victoria Real Estate Board Multiple L ..read more

January 2024 Happy New Year! 2024 is upon us, and the real estate market is poised to improve from the flat 2023 market. Interest rates are projected to start dropping in the spring, and the consumer confidence should increase as the year unfolds. 2023 was more of a watch and see market, with prices dropping slightly, and a large number of Buyers remaining on the sidelines due to high interest rates. 2024 should be more of the same for the first quarter but may begin to pick up in late spring if interest rates begin their descent Below are some of the statistics for December 2023 Listing Inve ..read more

Happy Valentine’s Day!       February 2024 The current market conditions in Greater Victoria are one of a balanced market with good opportunities for buyers and sellers. Sales are low but so is inventory, so overall prices are remaining steady and with the high interest rates predicted to continue into the next quarter, the market should remain stable as we enter into the spring market. Below are some of the statistics for January 2024 Listing Inventory: There were 2,140 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2 ..read more

December 2023 The holiday season is rapidly approaching, and while it is a busy time of the year, it is also a great time to wind down, take some time off and to spend quality time with family and friends. 2023 has been dominated by local news stories and conversations centering around inflationary issues. Whether it be the high food and gas prices, high interest rates and mortgage payments, high rent and real estate prices, or the obscenely high-ticket prices for your favourite artists. The year 2023 has been full of eye-popping numbers and has been financially challenging for most Canadians ..read more

October 2023 The Victoria Real Estate market is plodding along with stable prices for the most part and increased listing inventory resulting in more choices for Buyers. Sales are slowing which may put some downward pressure on prices if the interest rates go up again in a few weeks and more Sellers decide to list their homes this Fall. The current balanced market is shifting more towards a Buyers market, which should continue to do so as the year finishes out Below are some of the statistics for August 2023 Listing Inventory: There were 2,699 active listings for sale on the Victoria Real Est ..read more

  September 2023 The Victoria real estate market has remained steady this summer. Inventory of homes on the market is still well below historic averages for this time of the year. Increased interest rates have slowed certain sectors of the market, but overall, prices have remained firm due to the lack of supply combined with the desire for Buyers across the country to move to the Island. The Bank of Canada’s September 6th decision to hold rates steady should help the market over the next few months. However, the slowing economy, and refinancing of mortgages to the new higher rates in the ..read more

  August 2023 The Victoria Real Estate market might not be as hot as the weather this summer, but the overall market is doing quite well, especially considering the interest rate increases that keep coming. Prices are stable and, in some areas, going up slightly. Overall, the July and August numbers have been decent all things considered. With inflation increasing again in July, it will be interesting to see what the Bank of Canada does in September… Until then, hope you enjoy the rest of the summer and this great weather! Below are some of the statistics for July 2023 Listing Inventory ..read more

  July 2023 Summer is in full swing and the weather has been excellent in Victoria. The market has also been quite strong in certain  areas and the demand for Buyers wanting to live in our great city never seems to wane. The interest rate increase is hurting a lot of the entry level markets as more Buyers are sidelined due to the high rates, but over all it is a decent market. Below are some of the statistics for June 2023 Listing Inventory: There were 2,342 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2023, an increase of 7 ..read more

June 2023 The Victoria Real Estate market is slowly picking up this spring but mostly in certain high demand locations. The high interest rates are keeping sales and prices flat throughout most of the region, including the Westshore.  Victoria and Saanich are experiencing an uptick in certain high demand areas resulting in some price increase due to an increase in multiple offer situations. The effects of the latest interest rate increase last week may slow the momentum and lead to a slower summer market. Definitely interesting times Below are some of the statistics for May 2023 Listing ..read more