Luxury real estate in Victoria, BC, has truly some of the very best *real estate on earth. Macleans magazine selected Victoria as the number one city in Canada in which to relocate a family business. Conde Nast Traveler magazine voted Victoria the best over-all city in Canada for its environment and ambiance.

One of the things that differentiate luxury real estate in Victoria, BC, from other places is its ideal climate. Victoria is temperate with both mild winters and summers. It is commonplace to see both palm trees and pine trees in beautiful, lush Victoria. If you are concerned about Victoria's proximity to rainy Seattle, don't worry. Victoria gets 1/3 of the precipitation that the Emerald City does. Additionally, the rain shadow effect ensures that Victoria gets more sunshine than the surrounding areas. All of this means that golf is year-round in luxurious Victoria, BC.

Whether you are dreaming of a 10-acre waterfront paradise with a tennis court and pool or an urban, high-rise penthouse suite, the luxury real estate opportunities in Victoria, BC, are plentiful. Practically every little piece of land in Victoria has a breath-taking view of mountains, ocean, or both. Private boat docks and even private islands are not out of the question. If you are looking for quiet solitude, countryside, waterfront chic, an easy, breezy condominium, or classy and conservative, it's on the market in Victoria. Whether you are motivated by making a sound investment, buying your dream house, or both, the luxury real estate in Victoria, BC, can not compete with that in any city in any country.

For more information on luxury real estate in Victoria, contact real estate agent Shirin Purewal at +1-778-401-9545

Buying a house in Victoria BC means you are investing in one of the most desirable real estate markets in all of Canada. First time home buyers are sometimes a little intimidated and wonder where they can find affordable homes in Victoria. An experienced first-time buyer expert can counsel you on which Greater Victoria municipalities might offer housing options to suit your need.

Victoria, along with all of south-western British Columbia, has a reputation of high real estate values, but on the whole, Victoria real estate prices are more reasonable than its neighbor across the water, the city of Vancouver. Across the Greater Victoria area, there are a wide range of housing options and a correspondingly wide range of housing prices, so with a little help from an experienced realtor, you will find the right home at a price you can afford.

As is the case in any city, the further you travel from town the better your chances of finding more affordably priced properties. Any real estate venture can become a headache if you aren't careful. In fact, a waterfront property purchase comes with additional concerns that need to be addressed from the start.

Just for comparison, you should look into the MLS statistics for Victoria, Oak Bay, Metchosin, Central Saanich, North Saanich, and Sidney. These desirable communities are probably not within reach of most first time home buyers, but you never know where you'll find affordable homes in Victoria BC with the help of an experienced realtor. After all, it never hurts to look, and might give you a goal to strive for!

BC Home Group is a real estate group in Victoria that values honesty, integrity, and straightforwardness. Having Lived in Victoria, Shirin has a valuable source of information about the Greater Victoria area for those who are interested in moving to this beautiful city. Looking forward to chatting soon!

A late spring bloom for Victoria real estate market

A total of 848 properties sold in the Victoria Real Estate Board region this May, 12.3 percent more than the 755 properties sold in May 2018 and a 21.8 percent increase from April 2019. Sales of condominiums were up 3 percent from May 2018 with 244 units sold and were up from April 2019 by 20.2 percent. Sales of single-family homes were up 9.6 percent from May 2018 with 445 sold.

"We are seeing lower activity than we have experienced in recent years for spring home sales," says Victoria Real Estate Board President Cheryl Woolley. "Of course, this is not surprising given consumers are impacted by the B20 mortgage stress test, as well as ongoing lower inventory levels. Despite this, we have seen an increase in May for sales over last year. Prices remain strong in the lower price ranges, with little change in our benchmark prices when compared to last year."

There were 3,019 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2019, an increase of 9.7 percent compared to the month of April and a 26.1 percent increase from the 2,394 active listings for sale at the end of May 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single-family home in the Victoria Core in May 2018 was $886,200. The benchmark value for the same home in May 2019 decreased by 2.9 percent to $860,800, higher than April's value of $843,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in May 2018 was $506,100, while the benchmark value for the same condominium in May 2019 increased by 2.6 percent to $519,300, higher than April's value of $512,700.

"May sales have ranged from a high of 1,289 in 2016 to a low of 441 in 1990, which is the year our detailed records began," adds President Woolley. "This month with 848 sales we are very close to the ten year average for overall sales in May, which is 813 properties. We are off from the ten-year average in May for active listings, which is 3,838, with 3,019 active listings last month. The lowest number we've tracked is from 2017 when May of that year saw 1,896 active listings. Though we're not at an all-time low in terms of active listings, anything new and desirable coming into the market that is appropriately priced can sell quickly and we still see multiple offers in these situations. According to established sales to listing ratios, we are in a more balanced market than in previous years, but it is a complicated market to navigate. If you're considering buying or selling, it's a good time to connect with your local REALTOR® to discuss the market and your best approach."