BC HOME GROUP | SHIRIN PUREWAL | VICTORIA REAL ESTATE | info@bchomegroup.ca1-778-401-9545

Distributed to media today:
 
Victoria real estate market experiences an active summer
 
A total of 979 properties sold in the Victoria Real Estate Board region this August, 48.1 per cent more than the 661 properties sold in August 2019 and exactly the same total as the previous month of July 2020. Sales of condominiums were up 29.1 per cent from August 2019 with 262 units sold. Sales of single family homes were up 45 per cent from August 2019 with 509 sold.
 
"Once again we saw a very active month in terms of property transactions," says Victoria Real Estate Board President Sandi-Jo Ayers. "And once again I will note that this is not a trend, but that this is our market at this moment in time during a unique situation. It is a challenging time to define what is happening in the market given so many factors that don't exist in a normal year. We have been surprised by the pace of the summer market and are grappling with the evolving socio-economic effects of the pandemic and how these underlying factors will influence our fall real estate market."
 
There were 2,584 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2020, 8.9 per cent fewer properties than the total available at the end of August 2019 and a 2.6 per cent decrease from the 2,653 active listings for sale at the end of July 2020.  
 
"What I do know is that our business has changed a lot in recent months," adds Ayers. "REALTORS® have adapted to health and safety requirements and much more technology is being leveraged to facilitate all aspects of the housing transaction. We can also see that though demand is up, there are fewer listings on the market, which increases demand on desirable properties even more. This is why we saw a lot of competition and multiple offers over the summer. Will this continue into fall? That will depend on how much new inventory comes into the market and how our community continues to manage the impact of COVID-19. This is an evolving and nuanced market. As always, it is a good time to connect with your Realtor if you're considering selling or buying. If you need us, we are here."
 
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2019 was $849,500. The benchmark value for the same home in August 2020 increased by 4.7 per cent to $889,200, 2.3 per cent less than July's value of $909,700. The MLS® HPI benchmark value for a condominium in the Victoria Core in August 2019 was $518,000, while the benchmark value for the same condominium in August 2020 decreased by 0.8 per cent to $513,900, 3.2 per cent less than the July value of $530,800.
 

 
Stats will be posted on the VREB website later this afternoon. 
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The following tenancy laws have resumed:
 
  • A landlord can now issue a Notice to End Tenancy for any reason (other than unpaid or late payment rent).
  • Landlords with existing orders for eviction can take them to the courts beginning July 2, 2020, for enforcement and can enforce a writ order effective immediately.
  • Landlords can enter a rental suite with 24-hour notice and do not need the tenant’s consent. They are expected to follow health guidelines like physical distancing, cleaning and wearing masks when appropriate.
  • The change also allows for personal service of documents to resume.
 
Landlords’ ability to restrict access to common spaces for COVID-19 related health reasons remains.
 
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Victoria real estate market impacted by many different factors in June
 
A total of 808 properties sold in the Victoria Real Estate Board region this June, 9.2 per cent more than the 740 properties sold in June 2019 and 76.8 per cent more than the previous month of May 2020. Sales of condominiums were down 3.2 per cent from June 2019 with 209 units sold. Sales of single family homes were up 16.8 per cent from June 2019 with 460 sold.
 
"This June we saw competing factors from all different sides of the real estate equation," says Victoria Real Estate Board President Sandi-Jo Ayers. "If all we do is look at numbers, we see a fairly normal June, in the midst of a very not normal world. The impact of COVID-19 on our entire economy continues. And while some buyers and sellers are slow to emerge from isolation, others have been highly active since the start of Phase 2 of BC's Restart Plan. Because of the pandemic, an eviction order that prohibited a landlord from ending a tenancy was introduced. The order may have kept some homes from going to market. The portion of this order that prevented a seller from providing vacant possession of a tenanted home was lifted late this month, which may bring some listings to market that had been stalled. Due to the pandemic alone, we have multiple factors influencing the inventory and sales in our market."
 
There were 2,698 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2020, 11.3 percent fewer properties than the total available at the end of June 2019 but a 6.1 per cent increase from the 2,544 active listings for sale at the end of May 2020.  
 
"Additionally, the Canada Mortgage and Housing Corporation announced changes that start July 1 which will reduce the borrowing power of some buyers who insure through CMHC," adds Ayers. "This may have pushed some demand forward - although there are alternate suppliers of mortgage insurance. Ongoing low inventory levels also mean that we are seeing a fair number of multiple offers. The condo market is slightly softer in terms of sales numbers. This may be in part due to the recent strata insurance issues which caused concern for owners and sellers. The government promised this month to begin to address the insurance issue, so there may be some relief on the horizon. These are not normal days for local real estate, nor is this month a signal of a return to normal, regardless of the numbers. That said, buyers and sellers are successfully navigating our market with the help of local REALTORS®, who know how to implement health and safety protocols and understand the complexities of our current market. As always, I recommend you consult your Realtor to understand what is happening in the moment."
 
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in June 2019 was $861,800. The benchmark value for the same home in June 2020 increased by 4 per cent to $896,200, 1.2 per cent more than May's value of $885,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in June 2019 was $519,100, while the benchmark value for the same condominium in June 2020 increased by 1.3 per cent to $525,600, 1.6 per cent less than the May value of $534,300.

 
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Elevate At Bear Mountain – Prices, Availability, Plans

Elevate at Bear Mountain – Prices, Availability, Plans

At a Glance

  • located at Bear Mountain
  • 13-storey concrete residential building
  • 209 condominiums
  • spectacular views
  • steps from hiking & mountain bike trails
  • 3-minute drive to Bear Mountain Resort
  • 10 minutes to Goldstream Park
  • 10-minute drive to shopping at Millstream Village
  • 30 minutes to Downtown Victoria
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Floor Plans for Elevate

Proposed units range from affordable 300-sq-ft studios to 1,200-sq-ft 3-bedroom condos. The larger homes will be flexibly designed so that a second bedroom or den can be used as a media room, or as part of a larger space with a movable partition and Murphy bed that can be transformed into a guest room.

As project details can change during the pre-construction phase, you are advised to sign up to our VIP list above for priority updates on Elevate at Bear Mountain. Feel free to contact me today to discuss your particular interest in this opportunity.

Amenities at Elevate
Elevate owners will benefit from the excellent facilities in their building. Atop of the podium, a community hub will feature ponds with walkways, a view terrace with barbeque area, and a clubhouse with large infinity pool, patios, cabañas, various gyms and an indoor-outdoor kitchen. There will also be a concierge service and a dog-washing station.

All Bear Mountain home owners can apply for the Homeowner Card, which offers holders discounts on the hotel facilities, including the pool, restaurant, and Sante Spa. In addition, a wide range of activities are available nearby, including an intense workout at the North Langford Recreation Centre, and hiking and mountain biking on dedicated trails. If boating is more your fancy, nearby Goldstream Boathouse is your launching point for enjoying Saanich Inlet.

Parking and Storage
An underground parkade will provide parking stalls for 287 resident and 4 visitor vehicles, as well as an electric vehichle charging station.

Developer Team for Elevate
Ecoasis provides the expertise, infrastructure, and investment capital to drive the development of sustainable and innovative communities. With a current geographical focus on Hawaii, Whistler, and Victoria, Ecoasis specializes in land acquisition and development of residential and resort real estate — signature properties that are enhanced for the benefit not just of stakeholders but the surrounding communities, as well. By partnering with the most experienced consultants, architects, engineering firms, and construction companies, Ecoasis creates products of high quality and lasting value.

Are you interested in learning more about other homes in Victoria, Saanich, or Langford?


Check out Langford Tower, Belmont Residences, and these great South Island Presales!


CONTAC US for more information and check out our condos for sale in Bear Mountain !


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A Remarkable Floor Plan Paired With Exceptional Views
 


Dear Shirin,

It is our pleasure to formally introduce you to our spacious E6 Floor Plan, strategically designed to maximize views of Victoria's highly-coveted Inner Harbour, British Columbia's Parliament Building, and the distinguished Empress Hotel. Envisioned as a grand estate in a monumental location, this home represents the pinnacle of opulence. Every detail has been meticulously considered and expertly crafted. 

As a pivotal luxury residence located in British Columbia's capital city, the E6 plan offers an array of exclusive features for the most discerning of buyers.

 
 
 
*Views from Level 2          
 
Own Victoria's Inner Harbour from $3,699,900
- Breathtaking 180° views of Victoria's historic Inner Harbour, the Provincial Parliament Buildings, and the renowned Empress Hotel - Expansive Harbour-view windows and outdoor living space, perfectly positioned for Summer firework displays in the harbour
- An impressive Chef's Kitchen featuring imported Italian cabinets, a custom Quartzite waterfall island, and a Sub Zero/Wolf Appliance Package with a 36" fridge and gas cook top for catering parties with ease - A climate-controlled wine wall featuring full height tempered glass doors and custom storage system for the most impressive of wine collections
- A grand dining room and spacious formal living room designed for hosting dinner parties and entertaining formal guests or long-time friends - A full-sized laundry room / mud room for cleaning up after returning home from a day of hiking through the mountains

- A cozy family room tucked out of sight for movie nights with popcorn - Lofty 10' ceilings with full height windows and air conditioning to keep cool on warm summer days
- Two luxury master ensuites, each large enough for a king-size bed, dual vanity sinks, generous closet space, a soaker tub, and a walk-in shower - having to share space is a thing of the past - Modern Interiors by Insight Design, featuring motorized roller shade blinds, solid core interior doors, dimmable LED lighting, and level 5 drywall and ceiling finish for a home that is as practical as it is beautiful
 
Ownership Opportunities - Available Now
 


Customs House offers a rare opportunity in today’s super-prime real estate market – the luxury of space. With homes as large as 4,400 square feet, each home has been painstakingly designed to offer the true elegance and sophistication that only comes from surroundings that offer room to breathe. A home at Customs House is a palette that invites your creativity, and the chance to create a space of your own.

With completion less than 12 months away, now is the perfect time to own Victoria’s Inner Harbour by securing your new home at Customs House. If you are interested in securing one of these incomparable homes, please arrange a private appointment with a member of our sales team. We are available daily at 1778 678 5626

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This is good to know that open houses have now been cancelled. See below

Dear all,
 
Building on our earlier message recommending suspension of open house activity, your Directors have now confirmed a temporary suspension of the openhousesvictoria.cawebsite. This measure is temporary.
 
Your Board takes this action in support of efforts to “flatten the curve” https://www.flattenthecurve.com/, reduce opportunities for transmission of the virus and to protect REALTORS®, their clients, consumers, our health system and our economy.
 
We appreciate your support and patience as we navigate this extremely complex world. We are here for you and we will do the best we can to support you and our community.
 
What we do today will have impact on our future.
 
All our best,
 
Sandi-Jo Ayers, President – on behalf of the Victoria Real Estate Board of Directors
 
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You’re invited to stop by to preview our upcoming Vancouver Island communities—including our homes at Esquimalt Town Square. We’ll have floorplans and information available for you, while pricing details will follow in early to mid-September.

Starting Saturday August 3rd, we’ll be open daily from 12–5pm (closed Wednesdays and Thursdays). We would also be delighted to secure a private appointment for you in September once detailed pricing information is available.

We look forward to seeing you soon! In the meantime, please do not hesitate to contact me for more details.


Book your floor plan and get discounted condo prices for the Aragon Project in Victoria by contacting us. LINK

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This project consists of single-family homes that are two floors. The house shares a wall with another townhouse. It is a beautiful project in a fantastic park of Victoria. A must see, please contact us for more details.


Please note as well that, you can find townhomes for sale in Victoria BC. Where property prices are high and the land is in short supply. Often people will look at both condominiums and townhomes for sale. 



If you are planning to buy townhomes in Victoria BC and are in the market doing realestate search then BC HomeGroup and Shirin Purewal can help you. Check the listings on our website to find properties that may interest you.


Always here to help, and we can email more information on the Ilaria project above. 


Contact us now!

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We are pleased to announce the release of two brand new homes at Thetis Glen.

Both of these homes include quality details such as quartz kitchen counters, 9’ ceilings, Rinnai direct vent gas heat, a cozy gas fireplace, and gas on-demand hot water. 

Thetis Glen homes are selling quickly so if you see something that you like, don't delay!
Lot 10 - 2351 Lund Road

This spacious 3-bedroom home offers large rooms, an island kitchen with eating bar that invites friends to hang around, and a great room with plenty of windows, merging seamlessly with your private patio out back. 

The ground level with its large family room, bathroom, and two bedrooms is ideal for family or guests. 

 
Backs onto forested land
3 bedrooms, 3 bathrooms, family room
Main level up with island kitchen and direct patio access
Master ensuite with heated floor & double sinks

Gas fireplace, on-demand hot water, gas heat
Ready for occupancy by August 23, 2019

$674,900 + GST
Lot 11 - 2353 Lund Road

One of our largest, this attractive four-bedroom home has plenty of room for the entire family! 

Backing onto forest, the upper level offers a large island kitchen with quartz counters along with two bedrooms, including a master with ensuite. Step right outside from this level into your elevated backyard and enjoy nature! Downstairs, we know that you will love the third and fourth bedrooms along with an large recreation room.

 
Backs onto forested land
4 bedrooms, 3 bathrooms, family room
Open plan with island kitchen
Gas fireplace, on-demand hot water, gas heat
Ready for occupancy by August 23, 2019

$ 694,900 + GST
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Living at Capital Park Residences encourages a healthy and active lifestyle with its central, pedestrian and cycling-friendly location. Designed to LEED® Gold standards, this development is being built to create an environmentally-conscious residence, which includes provision for electric vehicle charging at every parking stall.

With the new federal rebate incentives on zero-emissions vehicles that came into effect last week to supplement existing provincial incentives, there is now more reason to consider going green. These initiatives are part of Canada’s strategy to reduce transportation-related emissions by getting more electric and hybrid cars on the road. With upwards of $10,000 available to you in government rebates, combined with Capital Park Residences’ EV-friendly parking, making the switch to an electric vehicle has never been easier.

EV charging Capital Park Residences Courtyard

With 15 homes already sold this spring, and construction advancing, now is the time to secure a sophisticated residence in this inviting new community. Visit the Presentation Centre today to tour the fully furnished Display Suite and learn about our wide selection of floorplans.

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A total of 696 properties sold in the Victoria Real Estate Board region this April, 10 per cent fewer than the 774 properties sold in April 2018 but an 8.8 per cent increase from March 2019. Sales of condominiums were down 9.8 per cent from April 2018 with 203 units sold but were up from March 2019 by 3.6 per cent. Sales of single family homes were down 12 per cent from April 2018 with 369 sold.
 
"Spring has been a non-traditional real estate market thus far," says Victoria Real Estate Board President Cheryl Woolley. "Consumer purchasing power continues to be negatively impacted by the B20 mortgage stress test, causing many buyers to step back while they save more money for a down payment."
 
There were 2,751 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2019, an increase of 13 per cent compared to the month of March and a 37.4 per cent increase from the 2,002 active listings for sale at the end of April 2018.  
 
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in April 2018 was $874,800. The benchmark value for the same home in April 2019 decreased by 3.4 per cent to $845,100, higher than March's value of $843,600. The MLS® HPI benchmark value for a condominium in the Victoria Core area in April 2018 was $506,900, while the benchmark value for the same condominium in April 2019 increased by 1 per cent to $511,700, higher than March's value of $506,500.
 
"Prices have remained reasonably flat across the region and are expected to stay that way," adds President Woolley. "Presently, REALTORS® are busy showing homes and bringing new listings to the market, but with few new options to view, we are still seeing multiple offer situations when that right property does become available. Given the current dynamic and evolving market conditions, it's a good time to chat with your Realtor about a personal plan for buying or selling a property." 
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This newly approved condo project in Victoria West consists of 183-unit project on 210 Kitma Rd. The Developers are  Mariash Group & Focus Equities. At 25 storeys tall it will have some of Victoria's best views.


Stay tuned for more information on this condo-presale project in Victoria. If you would like an invite to the launch of the Roundhouse Rise as soon as it happens, please contact me and I will make sure you have an appointment for a showing. LINK


If you would like know more about another condo pre-sale project in Victoria that is one of Victoria's tallest buildings at 25 storeys high, learn more about the HUDSON ONE.

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To find homes in this price range click on the following LINK.


When I think about affordable home prices for the average income in Victoria BC. I think of homes that are for sale under $ 600 000. It is not easy if you think about it,  to have a mortgage on a home that is priced over half a million. You do not want to stretch yourself too thin as a home owner. You want to get into an affordable price range while enjoying a normal life. You do want to live pay cheque to pay cheque all while trying to pay off that mortgage.


Now even though, my clients may want to buy a home in Victoria for under 600 000 I always encourage to sign to see homes over 600 000 a well, becaue you never know which of those homes can negotiate their price to being under 600 000. You do not want to miss out on those opportunities as well.


A newer home in the price range of 600 000 will be further out from the Victoria Downtown core, almost taking you to Happy Valley in Langford or as fas as the Sooke. If you are ok, with driving over the Malahat, even more affordable homes would be found in Shawnigan Lake and Mill Bay. 


If you do not mind being in an older home or a fixer upper, than of course you may be able to find a home closer to downtown, in Esquimalt, Mayfair area, or even View Royal neighbourhoods.


But before I keep going on in this blog post ha ha , what type of a home are  you looking for? A condo, townhouse, duplex  or a detached home....Remember a home can mean many things :-) . Lets talk soon.


You Friendly Fun realtor Friend


Shirin 

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Even though the House is in recess until the fall, your Board and other community stakeholders continue to work on the Speculation Tax situation - and encouraging our local representatives to "Scrap It!".
 
Request:
Do you have first-hand information on a development being altered  / delayed or lost housing due to the Speculation Tax that you've not already sent us? Please connect, we are collecting stories to help the government understand the repercussions of this tax. Thank you. 
 
Update on ongoing activities:
Your President, Kyle Kerr, President Elect Cheryl Woolley and EO Dave Corey are preparing to meet with Housing Minister Selina Robinson this week. Their discussion will focus on increasing housing supply in the Victoria area.  

 
Please continue to share the Scrap the Speculation Tax website - the site makes it easy to write to your local representatives to encourage them to consider the broader economic impacts of the Spec Tax. More than 20,000 letters to government have been facilitated by the website.  
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You asked... and at Polo Village they have listened. 

During their first four weeks on the market, they have learned that people love the fully detached suites that their Craftsman Coach series of homes offer, but at the same time most people asked them to find a way to offer similar utility & value at a lower price.  

Today, they are announcing price reductions of $150,000 on two of our Craftsman Coach series of homes with suites!  They have redesigned the fixtures & finishings to bring the price down, while still offering a top quality home, in an unbeatable location, with a fantastic detached suite.
Lot 13 - was $999,900 - Now Only $849,900
Lot 14 - was $999,900 - Now Only $849,900
 
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Chapter One – 515 Chatham offers Studio and 1 Bedroom condominiums in the heart of Victoria's historic Old Town district featuring courtyards and architecture with unique urban character.


515 Chatham

Ironworks will consist of five architecturally unique buildings on two blocks of Victoria's historic Old Town district.

The start of this iconic new development begins with our cornerstone building, Chapter One – 515 Chatham.

Developed by Le Fevre & Company – built by Campbell Construction.


Chatham & Store Street – Old Town's North West District

The site of the Ironworks development has a rich history in Victoria's industrial age that includes the Albion Iron Works Company, which was located on the Chatham Street block between Government & Store Streets.

515 Chatham is designed with respect for the past and destined to become part of a whole new iconic streetscape for the modern era.


For floorplans and pricing details please contact us

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A total of 708 properties sold in the Victoria Real Estate Board region this June, 29.8 per cent fewer than the 1,008 properties sold in June of last year, and a 6.2 per cent decrease from May 2018. The sales of condominiums were down 25.1 per cent from last year in June with 230 units sold. Sales of single family homes were down 34.7 per cent from 2017 with 357 sold this June.
 
"June typically signals the conclusion of the busy spring market, and activity lightens into the summer," says Victoria Real Estate Board President Kyle Kerr. "However, because of decelerating growth due to aggressive government implementation of policies to reduce demand, Victoria's real estate market has been hobbled since the start of the year when federal restrictions around mortgage qualifications were rolled out. Even demand side measures that are not yet live, like the Vancouver/Kelowna/Nanaimo/Victoria-specific Speculation Tax, are dragging the market down as many consumers stand aside to watch what happens."
 
There were a total of 2,595 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2018, an increase of 8.4 per cent compared to the month of May and 35.5 per cent more than the 1,915 active listings for sale at the end of June 2017.  
 
"The good news is that inventory is slowly being added to the market, though we are still very far off from our ten year average inventory level of 4,100 listings" adds President Kerr. "The slower pace of the market has created more time for buyers who may have been hesitant to jump in during the high pressure market conditions of recent years
. Homes are spending a bit longer on the market and there are fewer multiple offer situations than in the past, and if we see more listings over the next few months we may be heading back into a more balanced market situation. Every type and location of property is a separate segment of our market, and there are varying pressures and demands, so if you are buying or selling it is wise to take advantage of the services of your local REALTOR® to help navigate this changing market."  

<MLS® Home Price Index reporting is currently unavailable. This document will be updated when the June numbers are released.>

Stats will be posted on the VREB website this afternoon.
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Executive Living with Incredible Views! Experience the best of Victoria's downtown lifestyle in the sought after Astoria! Sun-filled easy care 2BR 2bath w-new hardwood-look flooring, stainless appliances, warm cabinetry, granite counters, in-suite laundry & fresh modern paint scheme! Dramatic picture windows capture the beauty of OCEAN, snow capped MOUNTAINS, and the ever inspiring architecture of the Parliament Buildings & historic St. Ann's. TWO covered Balconies exquisite SOUTH facing exposure. Pets, rentals, all ages & BBQs welcome! Secure underground parking, & modern fitness room. A quick stroll to the bustling Inner Harbour, historic Beacon Hill Park, Royal BC Museum & Parliament buildings. Zoned for vacation rentals.
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