April 2025 Newsletter

Your Monthly real estate update

““The economic uncertainty the world faces right now certainly colours our local real estate market,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “In spite of this, our market remains as it has in recent months – stable and balanced. Inventory levels this past month held steady at over three thousand listings, which meant that there was a good amount of selection for buyers, while relatively flat pricing meant more predictability for sellers and buyers.”

There were 3,023 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2025, an increase of 14.9 per cent compared to the previous month of February and an 14.2 per cent increase from the 2,647 active listings for sale at the end of March 2024.

“As in past months, the balanced market in March softened the demand-side pressures of markets we’ve seen in recent years. There is more time for decision making, which is a positive aspect for both sellers and buyers,” adds Chair VanderWal. “Thoughtfully priced and presented homes are selling well and we do see instances of multiple offers, which is often a hallmark of the spring market. “

(VREB March Press Release – read full article here)

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

Average Sale Price Feb 2025 Mar 2025 Mar 2024

Single Family Dwelling $1,312,818 $1,286,825 $1,304,353

Condo/Apt $659,479 $642,059 $628,092

Row/Townhouse $836,199 $804,796 $822,049

Financing Update

Standby for the next Bank of Canada rate announcement on April 16th!
“Financial experts are predicting the Bank of Canada will likely drop interest rates again.” (read full article here)
“Canadian bond yields have swung sharply in recent weeks, adding uncertainty to the outlook for fixed mortgage rates.” (read full article here)

FEATURE PROPERTY!

2510 Kinnoull Cres, Mill Bay

Now listed at $1,279,000

JOIN ME FOR AN OPEN HOUSE SUNDAY 12-2PM!

This one of a kind home has 3,500 SqFt of living space, a rarity at this price point. The recently renovated kitchen features top-of-the-line finishes, granite counters & new appliances. The primary bedroom has its own wing of the house, featuring vaulted ceilings with access to the patio, a walk-in closet & large ensuite bathroom. You’ll find 2 more bedrooms & full bathroom located on the other side of the living area for added privacy. Downstairs there is a large 2 bed + den, 1 bath walk out suite with separate entrance. With a full height ceiling, large kitchen & walk out patio, this isn’t your typical suite. This custom home has ICF walls for Earthquake safety & a 96 EnerGuide rating. Backing onto a permanent forest ensures peace & quiet while still being close to the beach, trails & Mill Bay Centre. Enjoy this home’s privacy, whether relaxing in the back or soaking up the sun on the front patio.

220-950 Whirlaway Cres , Langford

Listed at $625,000

This premium corner unit on the quiet side of the building offers an open concept design and quality finishings. This unit has 2 bedrooms, both with walk through closets and ensuite bathrooms, as well as an ideal floor plan with both bedrooms separated by the living area, giving all occupants a sense of privacy. The kitchen features a sleek design including a large island (with added storage) to gather around and a gas stove. The living room completes the main space with an electric fireplace, large windows, & access to the patio. There is heating & cooling, ensuring year round comfort. This unit in particular also includes 2 underground secure parking stalls and a separate storage locker. The building is pet and rental friendly, has bike storage, and a fitness studio. You’re only a few minutes from all Langford’s shopping & amenities with Costco and Millstream Village just down the street. For added convenience, this listing is providing the option to be fully furnished.

372 4th Ave Exten, Ladysmith

Listed at $750,000

Discover this radiant rancher, situated on a flat lot backing onto permanent green space, with Holland Creek Park access close by. This recently painted home is at the end of a quiet cul-de-sac, comprising of 3 bedrooms & 2 bathrooms, complemented by skylights and crown moulding throughout. The expansive and welcoming living area features hardwood floors, a cozy gas fireplace, and an allocated space for dining. The well-lit kitchen has plenty of storage and an informal dining alcove with prominent bay windows. Ample parking is provided by the extensive driveway, which also accommodates recreational RV’s and boat’s. A notable feature is the spacious sunroom located at the rear, allowing you to keep nature close year round! The property includes a fully fenced yard, garden beds, outdoor shed, and access to the park, all from your backyard. Benefiting from proximity to numerous parks, trails, and beaches, this dwelling is located within the charming seaside community of Ladysmith.

Your Monthly real estate update

Financing Update

FEATURE PROPERTY!