Your Monthly real estate update
““We’ve concluded a rather quiet first quarter and are transitioning into the spring market,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “Many of our local REALTOR® members are noting that more shoppers are coming into the market – but this has not necessarily translated into sales numbers. This may change as we move into what is historically the busiest market of the year.”
There were 2,647 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2024, an increase of 12 per cent compared to the previous month of February and a 34.4 per cent increase from the 1,970 active listings for sale at the end of March 2023.” Continue here to read full article.
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 Feb 2024 Mar 2024 Mar 2023
Single Family Dwelling $1,262,314 $1,304,353 $1,241,248
Condo/Apt $596,896 $628,092 $628,230
Row/Townhouse $848,059 $822,049 $774,710
Financing Update
- At the rate announcement last week, Bank of Canada “held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening.” (Read full article)
- “The BoC also updated its inflation forecast, expecting it to remain at 3% during the first half of 2024, fall below 2.5% in the last six months of the year, and finally dip under the 2% target in 2025.” Read full article to understand the impact of Bank of Canada’s decisions.
- 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.
Featured Listing!
205-1216 Carlisle Ave
$599,000
- 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.
Join me here on Saturday April 20 for an OPEN HOUSE from 1-3pm!
Reach out for details or floorplans!
For Sale!
212-2022 Foul Bay Rd
$475,000
Welcome to this generously sized 2 bedroom, 1 bathroom condo! This unit has been tastefully updated with new flooring throughout and a renovated bathroom. The spacious primary bedroom has new carpet and features a walk through closet, cheater ensuite, and access to the balcony. This unit has been immaculately kept and includes a covered parking stall and storage locker.
Located in an amazing neighbourhood, 212-2022 Foul Bay Rd is close to all major amenities, bus routes and bike lanes. You are only quick walk to the Royal Jubilee Hospital, Save on Foods, Oak Bay Rec Centre, Starbucks, and many other local shops and restaurants to enjoy. Plus, you’re only a few minutes drive to beautiful Willow’s Beach, Oak Bay Village, Camosun College, and UVic.
Reach out for details or floorplans!
April Events
TC10km – Victoria
April 28
Earth Day at Jordie Lunn – Langford
April 21
Mayfair Mall Spring Fair – Victoria
April 25 – 28
Sips & Tips – Victoria
April 24
- See info below!
