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New property listed in ML Shawnigan, Malahat & Area

I have listed a new property at 1084 Fitzgerald Rd in Shawnigan Lake. See details here

Open House Saturday 11:30-1:00. Excellent opportunity in the highly sought-after "Estates at Shawnigan Station". Enjoy the tranquillity of the rural setting within a 20-minute drive to all amenities in the Westshore. This versatile floor plan suits families, professionals and retirees alike. The level entry main floor features two bedrooms, two bathrooms, and an open kitchen, dining and living area. The walk-out basement includes a family room with a cozy wood stove, sliding doors to the fenced back yard, third bedroom, office, laundry room, and a full bath. Additional features include a storage room, easy-access crawlspace, a single garage and wide driveway. The home benefits from a forced air gas furnace, gas fireplace, and a gas hot water tank. Overlooking the beautiful treed valley and mountains, this property is also just minutes away from kayaking, swimming hiking and outdoor adventure around Shawnigan Lake, while still offering convenient highway access to city life in Victoria.

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Open House. Open House on Saturday, September 28, 2024 11:30AM - 1:00PM

Please visit our Open House at 1084 Fitzgerald Rd in Shawnigan Lake. See details here

Open House on Saturday, September 28, 2024 11:30AM - 1:00PM

Open House Saturday 11:30-1:00. Excellent opportunity in the highly sought-after "Estates at Shawnigan Station". Enjoy the tranquillity of the rural setting within a 20-minute drive to all amenities in the Westshore. This versatile floor plan suits families, professionals and retirees alike. The level entry main floor features two bedrooms, two bathrooms, and an open kitchen, dining and living area. The walk-out basement includes a family room with a cozy wood stove, sliding doors to the fenced back yard, third bedroom, office, laundry room, and a full bath. Additional features include a storage room, easy-access crawlspace, a single garage and wide driveway. The home benefits from a forced air gas furnace, gas fireplace, and a gas hot water tank. Overlooking the beautiful treed valley and mountains, this property is also just minutes away from kayaking, swimming hiking and outdoor adventure around Shawnigan Lake, while still offering convenient highway access to city life in Victoria.

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New property listed in Vi Burnside, Victoria

I have listed a new property at 209 400 Dupplin Rd in Victoria. See details here

Open House Sunday 1:30-3:00. Experience luxury in this TOP-FLOOR CORNER SUITE. This 2-bedroom, 2-bathroom home features a bright, open floor plan perfect for entertaining or relaxation. Bathed in natural light pouring through the oversized windows and three skylights, this suite also features an airy living space with 10' ceilings. Equipped with stainless steel appliances, the kitchen flows into the spacious living and dining areas. Cozy up and enjoy the warmth of the gas fireplace or step out onto the large balcony, ideal for morning coffee or evening BBQs with a cocktail. The primary bedroom includes a private ensuite, while the second bedroom is perfect for children, guests or a home office. Additional amenities include in-suite laundry, separate storage, bike storage and secure gated parking. Situated in a pet-friendly building, this condo offers serenity and convenience. Close to parks, shopping, transit, the Galloping Goose Trail and all major amenities. Call today for a viewing.

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Open House. Open House on Sunday, September 29, 2024 1:30PM - 3:00PM

Please visit our Open House at 209 400 Dupplin Rd in Victoria. See details here

Open House on Sunday, September 29, 2024 1:30PM - 3:00PM

Open House Sunday 1:30-3:00. Experience luxury in this TOP-FLOOR CORNER SUITE. This 2-bedroom, 2-bathroom home features a bright, open floor plan perfect for entertaining or relaxation. Bathed in natural light pouring through the oversized windows and three skylights, this suite also features an airy living space with 10' ceilings. Equipped with stainless steel appliances, the kitchen flows into the spacious living and dining areas. Cozy up and enjoy the warmth of the gas fireplace or step out onto the large balcony, ideal for morning coffee or evening BBQs with a cocktail. The primary bedroom includes a private ensuite, while the second bedroom is perfect for children, guests or a home office. Additional amenities include in-suite laundry, separate storage, bike storage and secure gated parking. Situated in a pet-friendly building, this condo offers serenity and convenience. Close to parks, shopping, transit, the Galloping Goose Trail and all major amenities. Call today for a viewing.

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Open House. Open House on Sunday, September 29, 2024 11:00AM - 1:30PM

Please visit our Open House at 412 1433 Faircliff Lane in Victoria. See details here

Open House on Sunday, September 29, 2024 11:00AM - 1:30PM

Open house Sun 11:30-1:00. Welcome to Faircliff Manor, a serene retreat set on over 2 acres of lush natural beauty in the heart of Fairfield. This charming suite is available for purchase for the first time in 26 years, presenting a unique chance to own a piece of the highly sought-after Faircliff Manor community. Though it may require some updating, this property offers a blank canvas to create your ideal living space. Currently configured as a 1-bedroom + den, it can easily be restored to a 2-bedroom layout. Faircliff Manor boasts a picturesque, park-like setting and is conveniently located within walking distance to Fairfield Plaza, the Dallas Road waterfront trail, Ross Bay, Cook Street Village, bus routes, schools, and all essential amenities. The complex features excellent amenities including a fitness room, sauna, guest suite, workshop, and a lounge with a BBQ patio offering expansive ocean, mountain, and garden views. Pets and rentals are welcome. Includes parking and storage.

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New property listed in Vi Fairfield West, Victoria

I have listed a new property at 412 1433 Faircliff Lane in Victoria. See details here

Welcome to Faircliff Manor, a serene retreat set on over 2 acres of lush natural beauty in the heart of Fairfield. This charming suite is available for purchase for the first time in 26 years, presenting a unique chance to own a piece of the highly sought-after Faircliff Manor community. Though it may require some updating, this property offers a blank canvas to create your ideal living space. Currently configured as a 1-bedroom + den, it can easily be restored to a 2-bedroom layout. Faircliff Manor boasts a picturesque, park-like setting and is conveniently located within walking distance to Fairfield Plaza, the Dallas Road waterfront trail, Ross Bay, Cook Street Village, bus routes, schools, and all essential amenities. The complex features excellent amenities including a fitness room, sauna, guest suite, workshop, and a lounge with a BBQ patio offering expansive ocean, mountain, and garden views. Pets and rentals are welcome. Includes parking and storage. Quick possession available.

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Open House. Open House on Saturday, September 21, 2024 2:00PM - 4:00PM

Please visit our Open House at 101 2835 Departure Bay Rd in Nanaimo. See details here

Open House on Saturday, September 21, 2024 2:00PM - 4:00PM

Open House Sat 2-4 Experience Luxury in Departure Bay. This executive penthouse blends ocean views with architectural elegance, just steps from the sandy beach. Featuring 3 bedrooms and 3 bathrooms, offering private elevator access from the tandem double garage to each floor, including the expansive rooftop patio. Floor-to-ceiling windows flood the space with natural light, showcasing stunning coastal mountain and ocean views. The open-concept design integrates the living, dining, and chef’s kitchen, which boasts premium finishes, a large island, and professional-grade appliances. The primary suite includes a 5-piece ensuite with heated floors, a walk-in closet, and electronic blinds. The second bedroom opens to a private patio, while the third serves as a guest room or home office. The rooftop patio is ideal for gatherings around the fire pit or enjoying sunrises over the Bay. Embrace the beach lifestyle with your kayak or cold plunge, and enjoy nearby amenities, Ferries and Seaplanes

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New property listed in PQ Nanoose, Parksville/Qualicum

I have listed a new property at 3122 Dolphin Dr in Nanoose Bay. See details here

Discover coastal living in Nanoose Bay. Nestled amidst the beauty of Vancouver Island's west coast, this residence offers a serene retreat with unparalleled access to nature. Nanoose Bay boasts an abundance of outdoor activities; kayaking, scuba diving, mountain biking, boating and more! A Beautiful Marina & Fairwinds Golf Club are just moments away. Explore the nearby parks and trails, such as Moorecroft Regional Park or Englishman River Provincial Park. Enjoy beach access right across the street, where you can launch a kayak or go for a dip! Convenience meets tranquillity in Nanoose Bay, with a range of local amenities nearby. The well-maintained home features a lovely living room with large windows and vaulted ceilings. The south-facing backyard is drenched in sunlight. Take advantage of the 1,100+ SqFt full-height lower level ready for your ideas. Whether you seek outdoor adventure or crave the peace of coastal living, 3122 Dolphin Dr offers the perfect blend of both.

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Market Statistics

September 3, 2024  A total of 545 properties sold in the Victoria Real Estate Board region this August, 0.2 per cent more than the 544 properties sold in August 2023 and a 16.5 per cent decrease from July 2024. Sales of condominiums were up 10.4 per cent from August 2023 with 181 units sold. Sales of single family homes decreased by 7.7 per cent from August 2023 with 252 sold.

"The final month of the summer is generally a rather relaxed one in terms of real estate sales and listings," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "Many folks pause their home shopping activities or pause their sales listing to make the most of other summer activities and vacations. It's no surprise that sales this year were so close to the sales from 2023 and that listings declined slightly from the number we saw in July."

There were 3,191 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2024, a decrease of 4.7 per cent compared to the previous month of July and a 28.2 per cent increase from the 2,490 active listings for sale at the end of August 2023.

"It's likely our market will trend a bit busier in the upcoming fall months," adds Chair Lidstone. "In September people return their attention to work and school and to bigger projects like making a move. Week by week into the fall our market will evolve so if you are considering listing or buying a home in the Victoria area, connect with your favourite local REALTOR® to help develop your best real estate strategy."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2023 was $1,327,800. The benchmark value for the same home in August 2024 decreased by 3 per cent to $1,287,400, down from July's value of $1,296,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in August 2023 was $575,900 while the benchmark value for the same condominium in August 2024 decreased by 2.9 per cent to $559,200, down from the July value of $567,800.

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 1,674 local Realtors. If you are thinking about buying or selling a property, connect with your local Realtor for detailed information on the Victoria and area real estate market.

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Interest Rate Cut

The Bank of Canada has lowered its overnight rate target to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. This move is part of its ongoing effort to normalize its balance sheet.

Globally, the economy grew by about 2½% in the second quarter, in line with the Bank’s July report. The U.S. saw stronger-than-expected growth due to increased consumption, though the job market has slowed down. The Eurozone benefited from tourism and services, but manufacturing remains weak. Inflation in both regions is easing. China’s growth is hindered by weak domestic demand. Financial conditions worldwide have improved since July, with lower bond yields. The Canadian dollar has slightly strengthened, largely due to a weaker U.S. dollar, and oil prices are lower than previously expected.

In Canada, the economy grew by 2.1% in the second quarter, driven by government spending and business investment. This growth was a bit stronger than anticipated in July, but recent data suggest a slowdown in economic activity over the summer. The job market remains sluggish, with little change in employment numbers recently. However, wage growth is still high compared to productivity.

Inflation slowed to 2.5% in July. The Bank’s preferred core inflation measures are also around 2½%, and the proportion of consumer price index components growing above 3% is at its historical average. Shelter price inflation remains the biggest contributor to overall inflation but is beginning to decrease. Some other services are still seeing high inflation.

Given the ongoing decrease in broad inflationary pressures, the Governing Council decided to cut the policy interest rate by 0.25%. While excess supply in the economy continues to ease inflation, rising prices in shelter and some services are keeping inflation higher. The Governing Council is closely monitoring these factors and will base future policy decisions on new information and its impact on inflation. The Bank is committed to restoring price stability for Canadians.

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Open House. Open House on Saturday, September 7, 2024 2:00PM - 4:00PM

Please visit our Open House at 101 2835 Departure Bay Rd in Nanaimo. See details here

Open House on Saturday, September 7, 2024 2:00PM - 4:00PM

Open House Sat 2-4 Experience Luxury in Departure Bay. This executive penthouse blends ocean views with architectural elegance, just steps from the sandy beach. Featuring 3 bedrooms and 3 bathrooms, offering private elevator access from the tandem double garage to each floor, including the expansive rooftop patio. Floor-to-ceiling windows flood the space with natural light, showcasing stunning coastal mountain and ocean views. The open-concept design integrates the living, dining, and chef’s kitchen, which boasts premium finishes, a large island, and professional-grade appliances. The primary suite includes a 5-piece ensuite with heated floors, a walk-in closet, and electronic blinds. The second bedroom opens to a private patio, while the third serves as a guest room or home office. The rooftop patio is ideal for gatherings around the fire pit or enjoying sunrises over the Bay. Embrace the beach lifestyle with your kayak or cold plunge, and enjoy nearby amenities, Ferries and Seaplanes

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Open House. Open House on Saturday, September 7, 2024 11:30AM - 1:00PM

Please visit our Open House at 3 545 Jubilee St in Duncan. See details here

Open House on Saturday, September 7, 2024 11:30AM - 1:00PM

Open House Saturday 11:30-1:00. Prime Location! This nearly new townhome, completed in 2022 and inclusive of GST, is move-in ready and boasts exceptional style with high-end finishes and meticulous attention to detail. Ideally situated within walking distance of downtown, shopping, restaurants, and parks, this 1328 sq. ft. home features a contemporary design with a well-thought-out floor plan, making it perfect for families or young couples. Enjoy 2 spacious bedrooms, 2 bathrooms, a stunning kitchen with quartz countertops, 9' ceilings, large bright windows, and a private balcony. The property comes with a heat pump, all appliances, and a private garage pre-wired for an EV charger. Built by the award-winning Plante Developments Ltd., this townhome also permits rentals and pets, and includes a New Home Warranty. Reach out today to book a private viewing.

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.