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Victoria Real Estate Market Update – December 2021

December 16, 2021 by CapitalCityGroup

We are starting to feel a little like a broken record with the Real Estate situation in Victoria BC.

In November a mere total of 653 properties were sold. That is 17.9% fewer than the 795 properties sold this same month a year ago and just over 12% less than the previous month of October 2021.

The average price for a single family home in November was $1,330,251. The average price for a townhome was $807,289 and for a condominium was $648,867.

Of the total properties sold 276 were single family homes sales, 76 were townhome sales, and 236 were condominium sales. The sales-to-Active Listings ratio for November 2021 was 73.6% and we finished November with 887 Active Listings. That’s over 50% fewer properties on the market than there was November 2020! Taking in these facts it is not surprising that there continues to be upward pressure on prices and competition with continued multiple offer situations.

The Governments announced their plan to introduce a cooling off period for resale homes instead of addressing the supply and attainability issues. We therefore do not foresee improvement to the supply and demand of our complex housing market as a result.

Victoria remains one of the most desired places to live in Canada which is no surprise to those of us already living here!

December is now upon us and we hope you have a peaceful holiday season with your family. Wishing you a prosperous 2022!

4935 Cordova Bay Rd $3,288,000

4935 Cordova Bay Rd Saanich, British Columbia

6 Beds 4 Baths 4,127 SqFt 0.340 Acres

3954 Arbutus Pl $3,349,000

3954 Arbutus Pl Saanich, British Columbia

5 Beds 7 Baths 4,980 SqFt 0.410 Acres

8521 Lochside Dr $4,250,000

8521 Lochside Dr North Saanich, British Columbia

4 Beds 3 Baths 4,384 SqFt 0.330 Acres

2709 Goldstone Hts $2,800,000

2709 Goldstone Hts Langford, British Columbia

5 Beds 5 Baths 6,809 SqFt 0.310 Acres

Sept 2023 Real Estate Market Update

Real Estate Market Update – Sept 2023

ccg
September 19, 2023

Victoria real estate market needs better mix of housing supply to help restore balance A total of 544 properties sold in the Victoria Real Estate Board region this August, 13.8 per cent more than the 478 properties sold in August 2022 and an 8.6 per cent decrease from July 2023. Sales of condominiums were up…

Continue Reading Real Estate Market Update – Sept 2023

Real Estate Market Update June 2023

Real Estate Market Update June 2023

ccg
June 24, 2023

Summer is here! “The month of May marks the highest number of sales we’ve seen since April of last year,” said Victoria Real Estate Board Chair Graden Sol. “While we haven’t seen the number of total sales we would expect in a spring market, the month of May marks the fourth consecutive month with sales…

Continue Reading Real Estate Market Update June 2023

Real Estate Market Update Victoria - April 2023

Real Estate Market Update for Victoria – April 2023

ccg
April 22, 2023

Good news makes for a buoyant market.  It looks like the turbulent and uncertain waters of inflation on our real estate market are behind us and it’s back to confidence. The news has been positive on many fronts since my last newsletter. The Bank of Canada held rates for the second time in a row…

Continue Reading Real Estate Market Update for Victoria – April 2023

Filed Under: Real Estate

Sooke

Just 35 minutes away from Victoria and nestled along the Juan de Fuca coastline lies the growing community of Sooke. The area is a true nature lover’s delight and is known for hiking, kayaking, mountain biking, fishing and other outdoor activities. If you’re looking to live among nature with amazing water and Olympic Mountain views, … » Learn More about Sooke

View Royal

Centrally located, View Royal offers quaint waterfront neighbourhoods and park-like surroundings. Undulating topography filled with trees and forest meadows, View Royal has a unique rural feel while still being close to major urban centers. Homes For Sale in View Royal

Western Communities

Langford & the Westshore Victoria’s Western Communities – commonly referred to as the “Westshore” – includes Colwood, Metchosin and Langford, British Columbia’s fastest growing community. The area prides itself on offering affordable family homes and many local amenities. Home to Canada’s rugby team and several international sports centers (including Bear Mountain Golf & Tennis Resort), … » Learn More about Western Communities

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Now being sold individually!! Development Potential!! Welcome to this exciting real estate opportunity - a rare chance to acquire two adjacent properties with massive development potential through a land assembly. Located in a highly desirable area, this site presents a fantastic opportunity for developers and investors seeking to create a landmark project in a prime location. The two properties being offered for sale are located at 790 Wilson and 802 Hereward, and are being sold separately or together. The first property has a lot size of 50x120, which translates to 6,000 square feet. The second property, listed under MLS #939131, has a lot size of 50x130, which is 6,500 square feet. Combined, these two properties offer a total land size of 12,500 square feet with a 1.5 FAR, Floor Area Ratio, providing ample development potential for a variety of uses. The location of this property is in a vibrant and dynamic area that is in the midst of a rapid transformation. $699,000 Active

790 Wilson St Victoria, British Columbia

1 Beds 1 Baths 1,004 SqFt 0.140 Acres

Now being sold individually!! Development Potential!! Welcome to this exciting real estate opportunity - a rare chance to acquire two adjacent properties with massive development potential through a land assembly. Located in a highly desirable area, this site presents a fantastic opportunity for developers and investors seeking to create a landmark project in a prime location. The two properties being offered for sale are located at 790 Wilson and 802 Hereward, and are being sold separately or together. The first property has a lot size of 50x120, which translates to 6,000 square feet. The second property, listed under MLS #939131, has a lot size of 50x130, which is 6,500 square feet. Combined, these two properties offer a total land size of 12,500 square feet with a 1.5 FAR, Floor Area Ratio, providing ample development potential for a variety of uses. The location of this property is in a vibrant and dynamic area that is in the midst of a rapid transformation. $750,000 Active

802 Hereward Rd Victoria, British Columbia

4 Beds 2 Baths 3,010 SqFt 0.150 Acres

The "Burleith Gatehouse" was built In 1901 to service James Dunsmuir's family estate at the time; Burleith Estate. The beautiful stone wall along with the gateposts and iron gate marked the entrance to the 20-acre Burleith estate. The home has Heritage significance but is not currently designated as a heritage property. The large corner lot is just over 8100 sq.ft. with a sunny South exposure and two separate driveways. Located conveniently close to downtown and the gorge waterway with public access and a dock at Banfield park. There are shopping options near by and a local coffee shop, bakery and barber just down the road. The home features ten foot ceilings, original wood finishing and floors with all the charm of yesteryear and retains some original features including a full-width veranda, round window, and flattened pediments in the gable. Access to the property is by appointment only, please do not walk the property without permission. This home is unique call your realtor today! $1,050,000 Active

701 Craigflower Rd Victoria, British Columbia

2 Beds 2 Baths 1,989 SqFt 0.190 Acres

Welcome to this immaculate 3 bed, 1 bath nestled in the heart of a sought-after neighborhood! Meticulously updated from top to bottom, this home combines comfort and style.This inviting living space boasts an open-concept design, allowing natural light to cascade through large windows, highlighting clean lines and modern finishes. The spacious living room is perfect for both relaxation and entertaining. Enjoy an updated kitchen with stainless steel appliances, ample cabinet and counter space-designed for functionality. The newly renovated bathroom offers a granite countertop and heated floors. Nestled on a generous lot, the exterior has ample space to relax, play, and entertain! Conveniently located in a desirable Vic West, close to schools, shopping, minutes to downtown Victoria, and bus routes. Steps away from the Gorge Waterway, Banfield Park and Galloping Goose. The community is known for its friendly atmosphere making it the perfect place to put down roots. This gem is a must-see! $949,999 Active

737 Craigflower Rd Victoria, British Columbia

3 Beds 1 Baths 1,318 SqFt 0.130 Acres

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Karen Williamson
Client Care Manager (Unlicensed)

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