September 1 2016, Victoria, BC

A total of 883 properties sold in the Victoria Real Estate Board region this August, an increase of 19.2 per cent compared to the 741 properties sold in August last year.

"August is a record breaker in more than one way. For the sixth consecutive month, we have a sales record with more sales than any other month of August on record," says Mike Nugent, 2016 President of the Board. "We also have the lowest number of listings available for sale in an August than we've seen in the last twenty years. That lack of inventory will continue to put pressure on pricing. Sales would be even higher were there more inventory available for buyers to purchase. Regardless of the low inventory, it's safe to say that by mid-September we will have surpassed the number of sales for all of 2015, with four months remaining in the year."

Inventory levels remain lower than last year, with 2,094 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2016, 43.2 per cent fewer than the 3,688 active listings at the end of August 2015.

"As we saw last month, the expected seasonal slowdown continues as we move towards the autumn," adds Nugent.  "August tends to be the slower summer month, though the year-over-year sales numbers are very strong. This shows continued consumer confidence in the Victoria real estate market. It is early to determine a trend, but we don't see any early indications that the foreign investment Property Transfer Tax implemented in Metro Vancouver has impacted sales to any extent in Victoria at this time."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August, 2015 was $603,200. The benchmark value for the same home in August 2016 has increased by 23.8 per cent to $746,900

Come join us!:

(Please RSVP: info@homeward.team )

Sunday September 11th, 2016 from 4-8pm

Victoria's Regent Waterfront Hotel

The Penthouse, Suite #801, 1234 Wharf Street, Victoria

Last year's Event was a huge success...  

Great fun was had by all, with many guests happily going home with wonderful Door Prizes, Special Congratulations went to Barrie Webster, Winner of our Grand Referral Prize.  Barrie won a 1 Night Stay at the Victoria Regent Hotel in an Oceanfront Executive Suite for up to 4 people with a bottle of Bubbly, Breakfast and free parking included.  

Good food, tasty beverages, picture identification contests and vibrant conversation made for a wonderful evening of joy and laughter. 

There was a celebratory atmosphere throughout the evening with great live musical performances from our three Guest Artists: Alex Klassen our Cello Soloist, Sue Decker's folk guitar and the dynamic duo of Sean Holland's & Suzanne Van Assum's jazzy blues set.

We are so very grateful to all our clients, it is you that have made this business such a pleasure and success. Many thanks to all of you who attended last year’s event. You made it so special!

Come join us this year for another Celebratory Party!

Rosemarie, Tom and Charlotte

Your Homeward Bound Real Estate Team

August 2 2016, Victoria, BC

A total of 972 properties sold in the Victoria Real Estate Board region this July, an increase of 22 per cent compared to the 796 properties sold in July last year.

"Though we saw the seasonal slowdown that we expect this time of year, we had another record breaking month," says Mike Nugent, 2016 President of the Board. "The last time we saw a July this busy was in 2009 when 933 properties sold."

Inventory levels remain lower than last year, with 2,161 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2016, 45 per cent fewer than the 3,942 active listings at the end of July 2015.

"Late last week the provincial government approved new legislation that may affect the real estate market in our area, though at this time we can only guess how a foreign investor's tax in the Metro Vancouver region will impact sales here in Victoria," adds Nugent. "Recent data released by the government shows that nearly ten per cent of property transfers in Metro Vancouver involved foreign nationals. This is part of the rationale for applying a fifteen per cent tax on transactions only in Metro Vancouver at this time. Does this mean international demand will spill over into Victoria and other areas of BC? We won't know until we see the data. The Capital Regional District saw two per cent out of country buyers in the year of 2015. Although this is a small percentage of our buyers, anecdotally foreign buyers do tend to favour the same core neighbourhoods and therefore can have an impact on those areas." 

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July, 2015 was $599,800. The benchmark value for the same home in July 2016 has increased by 23.6 per cent to $741,100.

OPEN HOUSE: Thurs July 28th & Sat July 30th 1-3pm

855 Wollaston Street, Old Esquimalt, Victoria

Listed at $489,000

MLS#368259

O.H. Thurs July 28th 5-8pm & Sat 30th 1-3pm! Beautiful character 3 bed, 2 bath strata dup. on a quiet street near West Bay Marina & Songhees boardwalk! Features incl: appealing layout; lots of windows to create wonderful light; new interior paint; inlaid hardwood floors; bright S facing living rm w/ gas fireplace & window nook; dining rm w/ French doors leading to freshly stained backyard deck; large stain glass window on stairwell up to 3 spacious, bright bedrooms; sky-lit bathroom; Master with walk in closet and balcony overlooking private Gary Oak treed backyard; new roof; cedar shake siding; full garage; excellent crawl space! Functions just like a single family home! Enjoy this peaceful urban neighbourhood, just minutes from downtown!

#206-1485 Garnet Road

Listed at $154,900

MLS# 367510

Rosebank Gardens, YOUR BEST NEXT MOVE! - 55+ Independent Living. Suite 206 offers a spacious, sensible floor plan, in-suite full kitchen with double sink, open eastward views from the private balcony over a schoolyard/field,and a in-suite storage room. Strata offers a shared lounge/dining room, guest suite, 24 hour staffing / security, coin-free laundry room across the hall from 206, activity room & First Alert response. The optional service package provides weekly housekeeping, a daily 4 course meal. Lovely mature landscaped grounds in a convenient location close to shopping and transportation.

Unit 12 - 127 Aldersmith Place

Listed at $579,900

MLS#367419

If you are looking for an easy care spacious quality built home with stunning water views of Thetis Cove, you have found your dream home where you will witness breathtaking sunsets. This award winning development by Manchester Homes won the "Best Multi-Family Project for Vancouver Island"

This duplex townhouse was designed to capture the ocean views from every room except the bedroom at the back which looks out onto a private forest of covenanted natural green space. Sitting out back enjoying your morning coffee listening to the owls hooting and the woodpeckers in the grand firs, its hard to believe you are a 10 minute drive from downtown.  In the evening, enjoy your gas BBQ ( new fittings ) in the privacy of your back yard.

You are steps away from walking trails leading you into Portage Park on the water and into the 4 Mile Pub and Restaurant. Admirals Walk Shopping Centre is a 5 minute walk at most so no need to take your car for groceries, pharmacy, banking, coffee shop, medical clinic. optometrist, liquor store and restaurants. The sounds of the centre won't reach you as you are buffered by the covenanted green space.

Enjoy the professionally landscaped gardens with room for your green thumb in the back if you wish.  Your upper balcony is perfect for star gazing at night and the lower balcony is covered so you can use it year round.

Interior comforts and features: Updated with maple hard wood throughout the home including on extra wide stairways. The front entrance is tiled.  The spacious maple cupboards in the kitchen have been refinished and the kitchen appliances updated to stainless steel.  Kitchen counters are valance-lit and all light fixtures have been replaced.  This home boasts a built in vacuum system including a dust vent in the kitchen. An ADT security system is fully installed though not hooked up at this time.  The finishing in these homes is superb with crown mouldings and 6 inch carved base boards. There are three roomy bedrooms on the top floor with double closets in each that have closet systems installed. The master bedroom has an extra single closet as well with a windowed door opening onto thr master bathroon.  Relax in a 6 foot soaker tun while you gaze out the picture window into the forest.  All 3 bathrooms include upgraded toilets.

The large double garage has been finished and has plenty of room for freezers, tools and sports equipment.  An office space with window off of the garage provides a quiet get away for homework or business. The laundry room is spcious and can be used for an extra fridge and pantry or for more storage.

OPEN HOUSE: Sat 9th & Sun 10th June 1-3pm

#12-127 Aldersmith Place, Glentana, View Royal

Listed at $579,900

MLS#367419

OPEN SAT/SUN 1-3. Rare opportunity to own this beautiful town home w/ breathtaking waterfront views from many rooms and decks! STUNNING SUNSETS! Positioned at the prime West facing end of the complex, this bright Duplex style unit boasts lots of natural light & gorgeous private outlooks! Features include: Appealing layout w/3 bedrooms on upper level; maple hardwood floors; spacious kitchen, w/ island & SS appliances, that opens to the family rm; wide stairway to upstairs; & quality updates! Bonus: Spacious well designed 2 door garage w/ adjoining finished office. Backs onto covenanted green-space ensuring backyard privacy & green views! Easy walk to Admirals Walk Shopping Center, trails, Portage Park, Gorge Waterway, & all amenities.

July 4 2016, Victoria, BC

A total of 1,174 properties sold in the Victoria Real Estate Board region this June, an increase of 29 per cent compared to the 910 properties sold in June last year.

"When we look at month over month numbers, sales are down almost 9 per cent in June compared to the record breaking sales we saw in May, which may be due to the very low inventory available," notes Mike Nugent, 2016 President of the Board. "It's likely that sales would be higher were there more on the market to buy, but with the current conditions people may be hesitant to give up the homes they have."

Inventory levels remain lower than the year previous, with 2,289 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2016, 42.8 per cent fewer than the 4,003 active listings at the end of June 2015.

"June marks the halfway point for 2016. By this time last year 4,282 properties had sold," adds Nugent. "In the same six months this year, 6,181 properties have sold. If sales continue at a similar rate, we may meet the total sales from last year by the end of the summer. However, this may depend on available inventory, which continues to decrease."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in June, 2015 was $594,700. The benchmark value for the same home in June 2016 has increased by 21.9 per cent to $724,900.

"Even in this market, price and strategy are important," says Nugent. "It's smart to engage a local REALTOR® to identify a price point and marketing strategy to sell your property. We have seen many multiple offer situations and record breaking numbers in the past few months, but there are properties that sit unsold. Sellers trying to test the upper price limits in their specific range will find that buyers are as discerning as ever. Even in this market there is no guarantee of sale." 


About VREB - 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 over 1,200 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.