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NEW TO MARKET! Royal Oak custom built 4 Bed/ 4 Bat NEW TO MARKET! Royal Oak custom built 4 Bed/ 4 Bath family home situated on a quiet, forested cul de sac walkable to the Commonwealth Pool, Elk Lake & Beaver Lake and close to Broadmead Village & Royal Oak Shopping Centre & great schools. Offered at $1,498,000. MLS #980678 @engelvolkersvancouverisland @gregphillipsev
OCTOBER 2024 VREB MARKET STATISTICS……. Victori OCTOBER 2024 VREB MARKET STATISTICS……. Victoria market exceeds expectations but remains balanced A total of 654 properties sold in the Victoria Real Estate Board region this October, 60.7 per cent more than the 407 properties sold in October 2023 and a 14.5 per cent increase from September 2024. Sales of condominiums were up 32.6 per cent from October 2023 with 187 units sold. Sales of single family homes increased by 76.2 per cent from October 2023 with 340 sold. “Sales did increase notably over last year, but it’s important to include some context,” said 2024 Victoria Real Estate Board Chair-Elect Dirk VanderWal. “October 2023 saw the fewest sales in that month since 2008, which distorts a year-over-year comparison; in fact, last month’s sales count was almost exactly on the ten-year average for the month. With that context, although we’ve certainly seen a notable increase in sales month over month, this does signal a return to a more average market for this time of year. The number of homes available on the market has remained relatively consistent, which has also created the benefit of a more balanced market for buyers and sellers, even with the increase in sales numbers.” “I think it’s safe to say that many consumers have been watching the Bank of Canada rate announcements, and that could be influencing their decision making,” adds Chair-Elect VanderWal. “Recent rate drops likely encouraged a few more buyers and sellers to enter the market, and we may see that trend continue in November, the month which traditionally begins our market’s winter lull. Even though sales were higher last month, we are still experiencing a comfortable environment for buyers and sellers to negotiate. There are fewer multiple offers and more time for the decision-making process. It is hard to predict what the winter market will bring, so it’s a great idea to consult with your favourite local REALTOR® to discuss the current market.”
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SEPTEMBER 2024 VREB MARKET STATISTICS… Victoria SEPTEMBER 2024 VREB MARKET STATISTICS… Victoria real estate market current conditions benefit buyers and sellers A total of 571 properties sold in the Victoria Real Estate Board region this September, 15.8 per cent more than the 493 properties sold in September 2023 and a 4.8 per cent increase from August 2024. Sales of condominiums were up 21.9 per cent from September 2023 with 189 units sold. Sales of single family homes increased by 19.3 per cent from September 2023 with 272 sold. “The real estate market in Victoria right now is much more stable and more predictable than it has been in recent years,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “We have seen a few solid months of near-balance in the market, which means it’s neither a seller’s nor a buyer’s market and positives exist for both sides of a transaction. With downward trending interest rates and stable pricing combined with more inventory on the market, our current conditions are the most comfortable for consumers to navigate that I’ve seen in a few years.” There were 3,361 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2024, an increase of 5.3 per cent compared to the previous month of August and a 24.5 per cent increase from the 2,699 active listings for sale at the end of September 2023. “In times of more balanced markets,” adds Chair Lidstone. “There is less pressure on pricing and more opportunity to take time to make big decisions on real estate. However, there are still situations where you can encounter competition. When the house, price and location are all highly desirable for buyers, we can see situations where there are competing offers. As always if you are thinking about making a move, connecting with a local REALTOR® to start building your strategy is advisable.”
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NEW TO MARKET! Oak Bay family home located in the NEW TO MARKET! Oak Bay family home located in the popular Henderson Neighbourhood. This 4 Bed/ 2 bath family home features three bedrooms on the main floor, full bathroom, bright living and dining area, along with kitchen with cozy eating area overlooking the backyard. The lower level offers additional living space, featuring a family room, fourth bedroom, 3-piece bathroom, laundry room, and a den with French doors leading to the large, fenced, south-facing garden. A prime Oak Bay location! Offered at $1,498,000 MLS # 971951
AUGUST 2024 VREB MARKET STATISTICS… Victoria’s AUGUST 2024 VREB MARKET STATISTICS… Victoria’s summer real estate market meets seasonal expectations 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.
NEW TO MARKET! Stunning West Coast Modern Style Ho NEW TO MARKET! Stunning West Coast Modern Style Home in the coveted Rockland neighborhood. Distinctive design greets you the moment you enter this light filled space. 4 Bedrooms/ 4 Bathrooms with over 3400qft of living area & multiple outdoor decks on a 10,000 sqft property. A great location steps to GNS School, Dallas Road & Government House. 1750 Patly Offered at $2,050,000 MLS# 971522 @engelvolkersvancouverisland @gregphillipsev #luxurylistings, #yyj, #vancouverislandbc, #rocklandrealestate, #westcoast, #modernhome
NEW TO MARKET! Oak Bay 3 Bed/ 4 Bath home located NEW TO MARKET! Oak Bay 3 Bed/ 4 Bath home located in the prestigious Uplands on a half acre west facing property. This solid home with a traditional floorplan is the perfect canvas for the buyer who appreciates exceptional design features and wants to create their own unique sanctuary in a PRIME LOCATION. An amazing opportunity to live in this coveted Uplands neighbourhood conveniently located close to Uplands Golf Club, Royal Victoria Yacht Club, UVIC, private and public schools, marinas, beaches, parks, and shopping. Offered at $2,998,000 MLS # 971521 @engelvolkersvancouverisland @gregphillipsev #luxuryhome, #yyj, #luxurylistings, #oakbay, #uplands, #vancouverislandbc
NEW TO MARKET! Gorgeous 3 Bed plus Den/ 3 Bath tow NEW TO MARKET! Gorgeous 3 Bed plus Den/ 3 Bath townhome on Bear Mountain offering luxurious living in a serene setting nestled at the end of a quiet cul-de-sac. With over 2300 sqft of immaculate living space & spacious outdoor area, this house home offers it all. A great home for a couple or family steps to the golf course & many walking trails. 102-945 Bear Mountain Pkwy Offered at $1,075,000 MLS# 971957 @engelvolkersvancouverisland @gregphillipsev #bearmountain, #westcoast, #yyj, #langford
NEW TO MARKET! Stunning West Coast Modern Style Ho NEW TO MARKET! Stunning West Coast Modern Style Home in the coveted Rockland neighborhood. Distinctive design greets you the moment you enter this light filled space. 4 Bedrooms/ 4 Bathrooms with over 3400sqft of living area & multiple outdoor decks on a 10,000 sqft property. A great location steps to GNS School, Dallas Road & Government House. 1750 Patly Offered at $2,050,000 MLS# 971522 @engelvolkersvancouverisland @gregphillipsev #luxurylistings, #yyj, #rocklandrealestate, #westcoast
JULY 2024 VREB MARKET STATISTiCS…Victoria housin JULY 2024 VREB MARKET STATISTiCS…Victoria housing market remains steady for buyers and sellers over summer. A total of 650 properties sold in the Victoria Real Estate Board region this July, 9.2 per cent more than the 595 properties sold in July 2023 and a 1.7 per cent decrease from June 2024. Sales of condominiums were up 6.5 per cent from July 2023 with 213 units sold. Sales of single family homes increased by 8.9 percent from July 2023 with 319 sold. “The month of July delivered another steady month of sales and listings, as we’d expect for an average summer season in our market,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “The sales in July tracked very closely to June numbers, which may have surprised some who expected that summer vacations would take more buyers out of the market. We did see inventory shrink a little from the previous month. This is not unusual for this time of year, but it is a trend we’ll keep an eye on because inventory levels are crucial to keeping our market balanced.” There were 3,348 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2024, a decrease of 3.2 per cent compared to the previous month of June and a 38.4 per cent increase from the 2,419 active listings for sale at the end of July 2023. “There continues to be a lot of government intervention in our housing market,” adds Chair Lidstone. “Recently, the provincial government announced changes to the Residential Tenancy Act that have resulted in some uncertainty for those considering homes with rental options. The changes have made an already complex transaction much more complicated and have added more risk. If you are considering purchasing or selling a tenanted or rental property, it’s imperative to bring in the assistance of a REALTOR® to navigate new requirements and ensure your transaction is successful.”
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NEW TO MARKET! Wonderfully located 1bed/1bath cond NEW TO MARKET! Wonderfully located 1bed/1bath condo in an extremely well maintained building in South Oak Bay. The suite has double pane windows & sliding doors off the living room that lead to a sweet newly updated balcony. Featuring custom living room drapes from Ruffell & Brown, ceramic tiled flooring in entryway, kitchen & bathroom & carpet covering the hardwood floors throughout the rest of the unit. Includes a storage locker in basement area & a luggage room across the hall. The strata fees include: heat, hot water, Property Mngt, gardeners, & complimentary shared laundry on each floor. The unit also has a covered parking stall (with separate title). Beautiful backyard in a park-like setting, full of Garry Oak Trees & 2 ponds as well as garden plots for owners to have their own garden area if one should become available. There’s also a BBQ area with picnic tables for communal use, an EV Charger & a bicycle shelter. Location is walkable to beaches, parks, Marina & Oak Bay Village. Offered at $449,000 MLS# 970179 @gregphillipsev #yyj, #oakbay, #oakbayliving
Luxury Fairfield Penthouse with South West exposur Luxury Fairfield Penthouse with South West exposure across from Historic Beacon Hill Park & steps from Cook Street Village. This stunning 2 Bedroom/ 3 Bath home plus walk in closet room offers 2100 sqft with expansive wrap around decks & a private car garage. A rare offering for the most discriminating buyer located in an established Fairfield Neighbourhood near Cook street Village & Dallas Road beaches. 403-986 Heywood. Offered at $3,350,000 MLS# 957456 @gregphillipsev @engelvolkersvancouverisland #luxury, #luxurylifestyle, #YVi, #penthouses,
NEW TO MARKET! Stunning Brand New 4 Bed/ 4 Bath ho NEW TO MARKET! Stunning Brand New 4 Bed/ 4 Bath home nestled on a 9000+ Sqft property in the prestigious Rockland area. Premium Quality Construction by Ten Mile Properties & JV Interiors in a PRIME LOCATION near Oak Bay Avenue, GNS & high ranked Public Schools, beaches and amenities. 849 Oak Shade Lane. Offered a $3,185,000 plus GST. MLS# 969400 @engelvolkersvancouverisland @gregphillipsev @ericascheffer_@tenmileproperties @jessicavelikovskyinteriors #luxuryhome #engelvolkersvancouverisland #engelvoelkers #luxurylistings #rocklandrealestate #yyj #westcoast #vancouverislandbc
849 Oak Shade Lane! Incredible Primary Bedroom & E 849 Oak Shade Lane! Incredible Primary Bedroom & Ensuite on the Main with private balcony.
Tenancy changes have been announced by the BC Gove Tenancy changes have been announced by the BC Government effective July 18th, 2024. Visit the BC Government website for more information or contact the Residential Tenancy Branch if you have questions.
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Engel & Voelkers Vancouver Island

2249 Oak Bay Avenue
Victoria, BC V8R 1G4

Julie: 250-888-1570
julie@julierust.ca

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Greg: 250-516-6013
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