Your Monthly real estate update

““Spring is generally prime time for real estate in Victoria,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “And May is typically when we are at or near to the peak of activity in our property market. This May was another stable month for both buyers and sellers. With more inventory on the market, consumers had more choice and could take time to make decisions and complete their due diligence. The additional listings also meant less pressure on pricing, so prices remained relatively flat.”

There were 3,338 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2024, an increase of 10.6 per cent compared to the previous month of April and a 52.5 per cent increase from the 2,189 active listings for sale at the end of May 2023.” Continue here to read full article.

This month I decided to include a graph of months of inventory to be more specific instead of the generalized gauge I have used in the past.

The statistics below show changes in average prices over the year & month, and the full press release from the board is linked below!

Average Sale Price             Apr 2024       May 2024       May 2023

Single Family Dwelling       $1,291,529       $1,336,470       $1,304,225

Condo/Apt                            $605,816         $613,936       $674,732

Row/Townhouse                   $828,896         $836,439       $853,470

*VREB May 2024 – Read the full press release here*

Financing Update

  • The Bank of Canada has done it’s first rate drop (in 4 years) of 25 basis points on June 5th! Rate cuts usually do take some time for the effect to be felt in the market but it is a great step in the right direction and great news for those currently holding a variable mortgage rate.
  • Looking for a trusted advisor to discuss financing or re-financing? Reach out and I can put you in touch with a trusted and knowledgeable broker.

For Rent!

213-599 Pandora Ave

1 Bed/1 Bath – Furnished
$2,200/month

This is a rare offering of a fully furnished suite available now in The Vogue (above MEC) at 599 Pandora Ave. This unit is in the heart of downtown Victoria with a walk score of 99%. You are steps to local restaurants, the inner harbour, boutiques, and more! This spacious 1 bedroom features vaulted ceilings, in-suite laundry, and beautiful exposed wooden beams throughout.

 

You have access to a shared rooftop patio where you can watch gorgeous sunsets or take in the stunning skyline.

 

  • Open pets (with a deposit) – one cat or one dog under 50 lbs.
  • No smoking & no vaping.
  • Secure underground parking is available to rent for an additional $250/month.
  • Includes a separate storage locker.
  • Hydro and internet/cable are tenants’ responsibility.
  • Tenancy insurance is required upon tenancy.
  • Available NOW.

For Sale!

205-1216 Carlisle Ave
Now offered at $549,900

    • 1 Bedroom, 1 Bathroom Luxury condo built in 2020.
    • 665 Fin Sq Ft with a storage locker and underground parking (including EV Charging).
    • Steps to the Esquimalt Recreation Centre, Bullen Park, Public Library, 2 grocery stores, farmer’s market, café’s restaurants, and a quick drive to Saxe Point and Naden! 
    • The main living area has an abundance of natural light and character with a brick feature wall.
    • The kitchen includes high end Bosch appliances, a gas stove top and tons of storage.

Reach out for details or floorplans!

View Listing

Now Vacant & Move In Ready!

212-2022 Foul Bay Rd
NOW offered at $459,900

This location has it all! Located in one of the most convenient areas of the city, close to all major amenities. You are within a block of major bus routes, bike lanes, the Royal Jubilee Hospital, grocery store, pet store, Oak Bay Rec Centre, cafe’s, restaurant’s, and so much more! Welcome to this generously sized 2 bedroom, 1 bathroom condo at just under 1,000 Fin SqFt! This unit has been tastefully updated with new flooring and a renovated 4 piece bathroom. The spacious primary bedroom has new carpet and features a walk through closet, cheater ensuite, and access to the balcony (spanning the entire width of the unit).

This condo has been immaculately kept and includes a covered parking stall and storage locker. Plus, you’re only a few minutes drive to beautiful Willow’s Beach, Oak Bay Village, Camosun College, and UVic. The perfect opportunity for a first time home buyer, investor, or someone wanting proximity to the hospital or university. This unit is now VACANT and MOVE IN READY!

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Reach out for details or floorplans!

View Listing

June Events

  • JazzFest – Victoria

    • June 21 – July 1

 

 

 

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