Aug 1, 2017 - "The activity level in the Victoria real estate market continues to be brisk, though we always expect a slowdown in the summer months," says 2017 Victoria Real Estate Board President Ara Balabanian. "This July, we saw a strong focus on the lower priced end of the market, with condos and townhomes and single family homes listed for under $700,000 in high demand. Many of those properties saw multiple offer situations."

A total of 790 properties sold in the Victoria Real Estate Board region this July, 18.7 per cent fewer than the 972 properties sold in July last year. 

"The ten year average for sales in July is just over 700 properties," adds President Balabanian. "So the numbers from last month illustrate an ongoing demand for homes in Victoria. We anticipated at the beginning of the year that we would see another busy market - without the record breaking numbers we saw in 2016 - and we are seeing exactly that. The surprise has been the low inventory levels, with listings for sale consistently below 2,000. The good news is that compared to the start of the year we have 26.7 per cent more listings on the market, but that supply is still lower than we expected, which puts pressure on pricing and availability."

There were 1,921 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2017, an increase of 0.3 per cent compared to the month of June, but 11.1 per cent fewer than the 2,161 active listings for sale at the end of July 2016. 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2016 was $737,800. The benchmark value for the same home in July 2017 has increased by 13.1 per cent to $834,200. 

About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,368 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.

36123 Galleon Way

New Price: Now Listed at $179,000

MLS#374875

Check out our beautiful property situated at 36123 Galleon Way on Pender Island. 

Imagine yourself on a summer's day relaxing on your forested property, maybe doing a spot of fishing or swimming, hearing the birds, enjoying the tranquility in your own piece of paradise...... this could become reality!

It comprises 0.33 of an acre of lakefront real estate. This building lot faces south west on pristine Buck Lake,  the preferred lake on Pender, initimate and tranquil. It is also the primary water reservoir for the local area, so the water is wonderfully clean and clear.

OPEN HOUSE: July 9th 1-3pm

2745 Heald Road, Shawnigan Lake

Listed at $439,000

MLS#378897

This great home on a .42 acre corner lot, is just yards from Shawnigan Lake; a block to the Village, near a boat launch & regional park & just 10 min. to Mill Bay. Features: a huge kitchen w/ skylights, large windows and great lake views; private courtyard; spacious living room w/ vaulted ceiling, laminate floors & a certified fireplace! Recent updates include:New Septic system in 2017 ($23K); New perimeter drains in 2016 ($8.6K); new shower, new dry walling and paint; updated to-code electrical; large garage/workshop; separate 16x12 utility shed w/own breaker & outlets; & parking for 3+ vehicles! Just cross the unused E&N rail line to enjoy Shawnigan Lake-side pleasures without paying a Shawnigan Lake-front price!

July 4, 2017 - "This year may feel a bit steady and less exciting when compared to last year's record-breaking market. People are getting used to this new tempo of brisk sales," says 2017 Victoria Real Estate Board President Ara Balabanian. "However, when we look at the longer term numbers, we're in a very active market. This June we counted over one thousand properties sold, while the ten year average for sales in the month of June is 798. If we remove 2016 sales, this June would have been the record breaker."

A total of 1,008 properties sold in the Victoria Real Estate Board region this June, 14.1 per cent fewer than the 1,174 properties sold in June last year.

There were 1,915 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2017, an increase of one per cent compared to the month of May, but 16.3 per cent fewer than the 2,289 active listings for sale at the end of June 2016.

"The good news for buyers is that inventory is slowly starting to build," adds President Balabanian. "But buyers can still anticipate multiple offer scenarios in certain high demand neighbourhoods where inventory is being bought at a more rapid pace. It's never been a better time to be a seller, with MLS® Home Price Index prices at a record high for the Victoria Core."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in June 2016 was $721,000. The benchmark value for the same home in June 2017 has increased by 15.1 per cent to $829,600.

On Friday morning once a month, from 7 to 8am, I join a group of good hearted real estate colleagues serving a nutritious meal at the Our Place Society facility:

(www.ourplacesociety.com) on Pandora Street.

We call ourselves The Breakfast Club.

I have been part of this group for a couple of years and, while it feels good to participate,

this experience definitely takes me out of my comfort zone. It can feel like, first arriving there, that I’m crossing a line to ‘the other side.’

Many of those who come for breakfast aren’t homeless but all in some way are, or likely feel that they are, at the margins of our affluent city.

When I started doing this I expected to encounter a lot of anger and grief amongst those we served. There are smatterings of that. But mostly our breakfast patrons are friendly, warm, smiling, and grateful. They come in all adult varieties; old, young, male, female, drug-addled, wheel chair bound, wise, confused, well dressed, and ragged.

While there I never feel that I’m on ‘the other side’ of any great social divide.

Rather, I feel comradery and belonging.

We are all just humans after all; doing our best with what today offers.

Tom Oak

30 Hartland Avenue, Saanich West

Listed at $849,900

MLS#379954

First time on the market in 40 years! This is an amazing opportunity to buy a secluded 11 acre parcel of quiet, natural paradise on the Saanich peninsula less than half an hour from downtown! Follow the road through the property to this one level Winnipeg Bungalow home that offers panoramic views over the Saanich hills, cleared area for gardens & leisure. It is beautiful to see green vista views and/or woodlands from every window. Enjoy seeing birds & other wildlife! Spacious living room w/ certified woodstove! A den/library on the way to an extension built for a Master! Updated kitchen w/ SS appliances, granite counters & ceramic tile flrs! Recently inspected septic system! Zoned to allow one or two more in law homes to be built on land.

The following testimonial was written by one of our happy sellers and buyers. They have been kind enough to give us permission to show you their correspondence. Their words are very gratifying. It seems that our down-to-earth and honest approach has earned us many friends - we think that's fantastic!

"I found both Rosemarie and her partner Tom to not just practice ethically, which is a challenge in this crazy housing market, but went far beyond what other real estate agents are doing these days".

I contacted Rosemarie Colterman last summer through Royal LePage as she was recommended by a friend who stages homes. I was looking for a go getter who was ethical in her practice. I found both Rosemarie and her partner Tom to not just practice ethically, which is a challenge in this crazy housing market, but went far beyond what other real estate agents are doing these days. They gave me a binder full of information to assist me in selling and buying. Though my townhouse sold the first weekend on the market Rosemarie and Tom spent much time and money preparing to put it on the market. They had a photographer come in to take stills, another professional to create 3D scale drawings of the whole house and a videographer to video the home. At the open house there were beautiful signs painted advertising in 3 locations and one of the nicest color information brochures I have seen. It really was a class act and has made me aware of how little some agents are doing in this market. 

Based on my experiences with this team selling my home following a very negative experience up island I sought out their help again in purchasing a new home looking all the way from Sooke to Ladysmith. Given the state of the market buying a home is far more challenging than selling a home. This team have been patient, responsive, and informative throughout the process and have helped guide me to other competent professionals I have needed. They both have strong communication skills which are essential in negotiating a purchase. Following an experience of losing my up island home, just before closing, I needed to have agents that I could trust and this team is one of the most trustworthy ones I have experienced. They are skilled, enthusiastic and fun, which goes a long way in this market. 

Adrien Brown, 2017

For more Testimonials click here: http://homewardbound.team/testimonials.html

2745 Heald Road, Shawnigan Lake

Listed at $439,000

MLS# 378897

OPEN HOUSE SUNDAY, JUNE 4TH 2-4PM!

Your rare opportunity to own an affordable, peaceful 3 bed/2 bath Shawnigan Lake home! This .42 acre corner lot, on a quiet street, is just 40 yards from the lake; a block to Shawnigan Lake Village shops; steps to a boat launch & Regional Park, and just 10 mins. to Mill Bay! Features include: a huge, bright, kitchen/dining room w/ skylights, large windows & great lake views; municipal water; a private courtyard perfect for BBQ’s and entertaining; spacious living room w/ vaulted ceiling, laminate floors & a certified fireplace; games room; large garage/workshop; separate 16x12 utility shed w/ own breaker & outlets; & parking for 3+ vehicles! Recent updates include: New 1660 gall. Septic system in 2017, ($23K); New perimeter drains in 2016, ($8.6K); new back deck in 2016; brand new shower, dry walling and painting; updated to-code electrical; Just cross the street to enjoy Shawnigan Lake-side pleasures without paying Shawnigan Lake-front prices!

June 1, 2017 -  "This month we have seen an increase in inventory - which means that buyers have more choice - and it means that now in some areas sellers are competing for buyers," says 2017 Victoria Real Estate Board President Ara Balabanian.

There were 1,896 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2017, an increase of 12.2 per cent compared to the month of April, but 21.2 per cent fewer than the 2,406 active listings for sale at the end of May 2016. 

A total of 1,006 properties sold in the Victoria Real Estate Board region this May, 22 per cent fewer than the 1,289 properties sold in May last year. The ten year average for sales in May is 815 properties. 

"There are many different market conditions in Victoria, because we have so many different neighbourhoods and different levels of demand for those neighbourhoods," adds President Balabanian. "The market won't change immediately, but we can track a shift as more inventory enters the market to meet the demand from buyers. Overall, pressure on pricing is easing because of the increase in inventory and the rate of increase of price is normalizing. As we have predicted, we are seeing the beginning of a gradual return to a balanced market in the Victoria area. In conditions such as the ones we see now, it's more important than ever to have an expert REALTOR® on your side whether you are buying or selling a property."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in May 2016 was $706,500. The benchmark value for the same home in May 2017 has increased by 16.8 per cent to $825,500. 

36123 Galleon Way

Listed at $195,000

MLS#374875

Check out our beautiful property situated at 36123 Galleon Way on Pender Island. 

Imagine yourself on a summer's day relaxing on your forested property, maybe doing a spot of fishing or swimming, hearing the birds, enjoying the tranquility in your own piece of paradise...... this could become reality!

It comprises 0.33 of an acre of lakefront real estate. This building lot faces south west on pristine Buck Lake,  the preferred lake on Pender, initimate and tranquil. It is also the primary water reservoir for the local area, so the water is wonderfully clean and clear.