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New property listed in Es Saxe Point, Esquimalt

We have listed a new property at 389 Lampson St in Esquimalt.
Welcome to this multi-generational, one-family home, located minutes from both Macaulay and Saxe Point Parks. Built in 1921, the charm and character from that era can be seen throughout the entire property. Just off of the main foyer is the large, bright living room, which features a wood-burning fireplace. French doors lead into the formal dining room with a second fireplace. (This space is currently set up as a bedroom.) There is a cozy family room beside the kitchen, and eating area that leads to the east-facing deck. The main floor also includes a 3-piece bathroom. Upstairs you will find 3 bedrooms and a 4-piece bathroom. The undeveloped, walkout basement, while not full height, offers huge potential for creating additional living space. If you are looking to create a family home in a great neighbourhood, this might be the one!
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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 10.8 per cent from August 2022 with 164 units sold. Sales of single family homes increased 9.6 per cent from August 2022 with 273 sold.

“Real estate activity this month reflected what we’d expect to see in an average late summer housing market,” said Victoria Real Estate Board Chair Graden Sol. “The beginning of the month was reasonably slow, and sales ramped up through the last half of the month. The brisk sales pace leading up to the end of August may very well continue into September.” 

There were 2,490 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2023, an increase of 2.9 per cent compared to the previous month of July and a 16.5 per cent increase from the 2,137 active listings for sale at the end of August 2022. 

"The focus in our market and by all levels of government needs to be on opening up more supply," Sol notes. "Our inventory levels, though up from last year, are still too low to support a well-balanced market. A decade ago, we saw over 5,000 active listings in August. Another important piece of supply is the housing mix that is available. Most residential properties for sale in our market last month were single family homes – this type of property is generally at the top price point. Missing middle homes, such as townhomes and condos represented only 37.1% of listings for sale. Townhomes, which in my experience are what a lot of families hope to purchase, represented only 9.8% of the residential properties for sale. This imbalance in the mix of housing options means there is the potential for more price pressure on these types of properties because demand is concentrated at more attainable price points."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2022 was $1,327,700. The benchmark value for the same home in August 2023 decreased by 0.3 per cent to $1,323,900, which is up from July’s value of $1,318,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in August 2022 was $583,700, while the benchmark value for the same condominium in August 2023 decreased by 0.3 per cent to $582,000, which is up from the July value of $578,000.

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New property listed in La Happy Valley, Langford

We have listed a new property at 3347 Turnstone Dr in Langford.
Located in the family-oriented neighbourhood of Happy Valley, this beautifully appointed home has much to offer. With 1500+ sf, 3 beds and 3 baths, this home has plenty of space for the growing family. On the main level, the bright open kitchen flows into the spacious dining and living areas, with 9’ ceilings throughout. Upstairs, you will find the generous primary, with an expansive walk-in closet, and ensuite with double sinks. The other two bedrooms have access to the 4-piece main bathroom, and the washer & dryer have their own space with additional storage. The garage has a high ceiling to accommodate overhead shelving for extra storage. This home is close to schools, with easy access to the Galloping Goose, and just a short drive to the many amenities of Belmont Market and Westshore Town Centre. This could be the home you’ve been looking for!
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New property listed in VR Six Mile, View Royal

We have listed a new property at 215 110 Presley Pl in View Royal.
Welcome to Thetis Lakeside Condominiums. This well-designed corner unit, with south and west exposures, offers spectacular views. With 1000+ sq ft, this 2 bed 2 bath unit offers nice separation of living space and bedrooms for comfort and privacy. The primary features an ensuite and walk-through closets; the second bedroom is spacious with lots of natural light from the corner windows. The open design kitchen has a centre island great for entertaining and a very handy pantry. The full-sized laundry is conveniently located beside the bedrooms. A storage locker is on the same floor as the unit and there is a large bike/kayak storage room located on the secure underground parking level. The complex is pet-friendly and has a dog run area accessed from the second floor. There is plenty of visitor parking at the front of the building and rentals are allowed. All of this is just a short stroll to Thetis Lake Park and a short drive to all amenities the Six Mile neighbourhood has to offer.
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New property listed in La Happy Valley, Langford

We have listed a new property at 955 Lobo Vale in Langford.
FREEHOLD TOWNHOME with no strata Fees! This beautifully designed 1300+ sf 3-bedroom, 2-bathroom home is located in Happy Valley. The upper floor features an open floor plan. The kitchen has a large island that provides additional counter space and flows naturally to the dining area. The living room features a cozy electric fireplace, and opens onto the front balcony. On the main level, you will find a bedroom and bathroom: perfect for guests or extended family. At the rear of the home, you will find the perfect south-facing oasis, with a patio and easy, low-maintenance yard. This home has a heat pump, as well as plenty of extra storage throughout, including in the double garage, which has 11’ ceilings. You are a short drive to the amenities of Belmont Market and Westshore Town Centre. Check out this home today!
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New property listed in Vi Fairfield West, Victoria

We have listed a new property at 409 1101 Hilda St in Victoria.
Welcome to this beautifully updated top floor, corner suite in the heart of Cook Street Village. Every room in this 2 bed, 2 bath, 1000+ sf condo has been redone, creating bright welcoming spaces. The main and ensuite bathrooms have been completely renovated, as has the kitchen. The primary and second bedroom both have abundant closet space. There is new flooring throughout, including in the sunroom, making it feel like a natural extension of the living room. There is also a great balcony off the dining area where you can enjoy the fresh air while drinking your beverage of choice. Proximity to all the great coffee shops, restaurants and amenities of Cook Street village makes this condo a true gem. Grab a coffee and stroll down to the beach at Dallas Road. This home is ready for you today!
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A total of 595 properties sold in the Victoria Real Estate Board region this July, 16.7 per cent more than the 510 properties sold in July 2022 and a 15.6 per cent decrease from June 2023. Sales of condominiums were up 16.3 per cent from July 2022 with 200 units sold. Sales of single family homes increased 15.4 per cent from July 2022 with 293 sold.

“We talked about the return to seasonal norms last month,” said Victoria Real Estate Board Chair Graden Sol. “The July numbers reinforce the re-establishment of seasonal patterns with a slow-down in activity as the summer season set in. This dip in activity doesn't come as a surprise  it aligns with the familiar and expected seasonal patterns that have been observed in our market over the years.” 

 There were 2,419 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2023, an increase of 3.3 per cent compared to the previous month of June and a 11.9 per cent increase from the 2,162 active listings for sale at the end of July 2022. 

 "The good news is that, despite a slowdown in sales, we did witness an increase in inventory coming to the market in July," Sol notes. "These new listings are quite encouraging, as they indicate a growing movement in our market and show that consumers are becoming more willing to take action and make a move. The additional inventory translates to more choices for buyers, and makes it easier for sellers who are looking to make a property change. Another positive aspect of a typical summer market is that, due to people often taking vacations during this time of year, there may be fewer active buyers. Although we continue to see well-priced properties receive competing offers, there might be less competition compared to previous months. If you are contemplating a summer move, it would be wise to connect with your local REALTOR® for assistance. Your Realtor possesses up-to-the-minute information for Victoria and knows how to navigate the market efficiently."

 The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2022 was $1,366,100. The benchmark value for the same home in July 2023 decreased by 3.5 per cent to $1,318,800, which is up from June’s value of $1,310,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in July 2022 was $600,000, while the benchmark value for the same condominium in July 2023 decreased by 3.7 per cent to $578,000, which is up from the June value of $573,800.

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New property listed in Co Olympic View, Colwood

We have listed a new property at 300 595 Latoria Rd in Colwood.
Heron’s Landing is situated in a natural setting, walking distance to Olympic View Golf Course, Red Barn Market, Latoria Creek Park, and just a short drive to the new amenities of The Commons in Royal Bay. The developer spared no expense in design or finishing details to make this one of the best condo complexes in the area. With more than 1300 sq. ft. of bright open living space, this 2-bed, 2-bath, top-floor corner unit has 2 parking stalls and a separate 5’x10’ storage locker. Features include 9’ ceilings, upgraded Hunter Douglas blinds, engineered hardwood in the main living areas, and heated tile floors in the kitchen and bathrooms. There are SS appliances, quartz countertops, eating bar, plenty of cupboard space, and a large pantry. The main bathroom has a soaker tub and stackable washer-dryer. The primary bedroom boasts a walkthrough closet, complete with organizers, leading to a spacious ensuite with a large walk-in shower. Heron’s Landing is a unique oasis in the West Shore!
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Open House. Open House on Saturday, July 29, 2023 12:00PM - 2:00PM

Please visit our Open House at 2617 Millstone Dr in Langford.
Open House on Saturday, July 29, 2023 12:00PM - 2:00PM
This 2400 SF, 2-storey family home is situated on a mature 0.38-acre lot east of Florence Lake, high above the neighbouring properties. With 5 bedrooms and 3 bathrooms, there is plenty of room for a growing family as well as space to work from home. The main floor features a formal living and dining area, powder room, and the kitchen, which opens onto a large family room with access to the 300+ sq ft rear deck. Upstairs, you will find the bedrooms and 2 bathrooms, including the primary ensuite with double sinks, walk-in shower, and bathtub. This home also includes a double garage with additional parking at the bottom of the driveway, a 4 ft crawl space for extra storage, and a fenced-in yard with raised flower beds and irrigation system. Both the interior and exterior of this home have undergone a significant number of upgrades in recent years including flooring, appliances, fencing, gutters and downspouts, roof and windows, deck and railings, and a doggie-den inside the garage.
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New property listed in La Florence Lake, Langford

We have listed a new property at 2617 Millstone Dr in Langford.
This 2400 SF, 2-storey family home is situated on a mature 0.38-acre lot east of Florence Lake, high above the neighbouring properties. With 5 bedrooms and 3 bathrooms, there is plenty of room for a growing family as well as space to work from home. The main floor features a formal living and dining area, powder room, and the kitchen, which opens onto a large family room with access to the 300+ sq ft rear deck. Upstairs, you will find the bedrooms and 2 bathrooms, including the primary ensuite with double sinks, walk-in shower, and bathtub. This home also includes a double garage with additional parking at the bottom of the driveway, a 4 ft crawl space for extra storage, and a fenced-in yard with raised flower beds and irrigation system. Both the interior and exterior of this home have undergone a significant number of upgrades in recent years including flooring, appliances, fencing, gutters and downspouts, roof and windows, deck and railings, and a doggie-den inside the garage.
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Open House. Open House on Sunday, July 16, 2023 1:00PM - 3:00PM

Please visit our Open House at 2617 Millstone Dr in Langford.
Open House on Sunday, July 16, 2023 1:00PM - 3:00PM
This 2400 SF, 2-storey family home is situated on a mature 0.38-acre lot east of Florence Lake, high above the neighbouring properties. With 5 bedrooms and 3 bathrooms, there is plenty of room for a growing family as well as space to work from home. The main floor features a formal living and dining area, powder room, and the kitchen, which opens onto a large family room with access to the 300+ sq ft rear deck. Upstairs, you will find the bedrooms and 2 bathrooms, including the primary ensuite with double sinks, walk-in shower, and bathtub. This home also includes a double garage with additional parking at the bottom of the driveway, a 4 ft crawl space for extra storage, and a fenced-in yard with raised flower beds and irrigation system. Both the interior and exterior of this home have undergone a significant number of upgrades in recent years including flooring, appliances, fencing, gutters and downspouts, roof and windows, deck and railings, and a doggie-den inside the garage.
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A total of 705 properties sold in the Victoria Real Estate Board region this June, 15.2 per cent more than the 612 properties sold in June 2022 and a 9 per cent decrease from May 2023. Sales of condominiums were up 19.8 per cent from June 2022 with 242 units sold. Sales of single family homes increased 6.6 per cent from June 2022 with 322 sold.

“As we consider the first half of the year, we see a return to a more traditional sales trend which follows the seasons,” said Victoria Real Estate Board Chair Graden Sol. “During and shortly after the pandemic, we couldn’t rely on our usual comparisons to explain the market. This year we have seen a return to a seasonal pattern, where the sales are slower through the winter and may peak in the spring. This seasonal trend is generally followed by a summer market which remains stable but is not as highly active.” 

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 per cent compared to the previous month of May and a 13.7 per cent increase from the 2,059 active listings for sale at the end of June 2022. 

“We have seen a small increase in inventory over the month of June,” adds Sol. “This inventory is very welcome, as we are still low on available listings for sale compared to historical counts. If inventory continues to rise, we may see prices stabilize further – another reminder of how important it is to add supply to the marketplace where possible. Well-priced properties are still selling rapidly while benchmark pricing remains reasonably level. In terms of pace and stability this is good news for sellers and buyers and hopefully heralds a summer of positive real estate transactions. To ensure that your transaction goes smoothly, engage a local REALTOR® to assist. Your Realtor knows the up-to-the-minute information for Victoria and how to navigate the market.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in June 2022 was $1,408,500. The benchmark value for the same home in June 2023 decreased by 7 per cent to $1,310,100, which is up from May’s value of $1,297,600. The MLS® HPI benchmark value for a condominium in the Victoria Core area in June 2022 was $615,200, while the benchmark value for the same condominium in June 2023 decreased by 9 per cent to $573,800, which is up from the May value of $569,300.

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.