NEWS FLASH Unwavering demand reinforces need to support supply of homes

The Victoria market continued to show its strength through the month of May, with a near record setting pace for sales and ongoing record low inventory levels. A total of 1,049 properties sold in the Victoria Real Estate Board region this May, 129.5 per cent more than the 457 properties sold in May 2020, but 6 per cent fewer than the previous month of April. Sales of condominiums were up 200.9 per cent from May 2020 with 325 units sold. 1.8 per cent fewer condominiums sold in May 2021 than in the previous month of April. Sales of single family homes were up 111.4 per cent from May 2020 with 537 sold. 4.8 per cent fewer single family homes sold in May 2021 than in the previous month of April.

“Victoria is an amazing place to live and we will continue to see demand for property here,” said Victoria Real Estate Board President David Langlois. “In the future we need to support the creation of a housing market that can respond to demand and population growth and evolve with community needs. Adding inventory to the Greater Victoria market should be the focus of every municipal council across the region.”

There were 1,450 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2021, 43 per cent fewer properties than the total available at the end of May 2020 and just 4 properties fewer than the 1,454 active listings for sale at the end of April 2021.

­­The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in May 2020 was $855,900. The benchmark value for the same home in May 2021 increased by 17 per cent to $1,036,100, a 3.9 per cent increase from the previous month of April. The MLS® HPI benchmark value for a condominium in the Victoria Core in May 2020 was $500,000, while the benchmark value for the same condominium in May 2021 was $526,000, a 5.2 per cent increase.

If you are considering buying or selling anywhere on the South Island,

call Lorne Tuplin today 250-217-4600!

Thinking about moving to Victoria? 

As baby boomers continue to retire in ever increasing numbers and  people from Vancouver sell their multi-million dollar homes and relocate here, prices will continue strong. There is no denying the incredibly strong pull to this Island Paradise!  

I offer you leading edge technologies for your upcoming real estate transaction, while at the same time provide you with First Class Service! 

Victoria, British Columbia... what's not to like?!! With it's mild climate producing liquid sunshine in the winter in place of snow, it is becoming the destination of choice for Baby Boomers all over the world.

Victoria is a metropolitan City that has many residents of British descent, but is increasingly attracting buyers world wide. Even with the currency change with our closest neighbor, United States, it is little wonder that American citizens are still flocking to Victoria and buying luxury ocean front condominiums, view properties and ocean front estates. With prices on the rise, Victoria is expensive but not when compared with other top tourist destinations. Check out other international tourist destinations then look again at our prices and I think you will agree that there is a lot of room for increase yet!

Golf? You bet! There are many amazing golf courses in the South Island area. These include the ocean front Victoria Golf and Country Club, Olympic View with its waterfall backdrop on one hole and many others... most open all year long.

If you want a get away, check out one of our luxury hotels. Included are the Empress, Laurel Point and Delta Ocean Pointe all overlooking the inner harbour. Fine dining includes Hunter's Steakhouse, Chandlers on Wharf, The Marina in Oak Bay and Pescatore's Fish House, just to name a few. Attractions include the world renown Butchart Gardens, Royal BC Museum, Royal Wax Museum, Craigdarroch Castle and of course whale watching. This is not a boring one horse town, but you can go for a carriage ride through the streets!


   

Serving Greater Victoria and area.  Call Lorne Tuplin for Langford Real Estate,  

Colwood Real Estate, Metchosin Real Estate, Sidney Real Estate,

  North Saanich Real Estate, Central Saanich Real Estate,

Saanich East Real Estate, Saanich West Real Estate,

 View Royal Real Estate,  Oak Bay Real Estate

Esquimalt Real Estate and Sooke Real Estate. 

Call Lorne Tuplin to buy or sell Victoria Homes,

 Victoria Real Estate, Victoria Condos,

Victoria Area Acreages, and  Victoria Area Waterfront & Water view homes

  RE/MAX Camosun, Victoria, British Columbia