Victoria real estate market shakes off winter doldrums

A total of 563 properties sold in the Victoria Real Estate Board region this February, 33.7 per cent more than the 421 properties sold in February 2019 and 37 per cent more than in January 2020. Sales of condominiums were up 35.7 per cent from February 2019 with 175 units sold. Sales of single family homes increased 23.7 per cent from January 2020 with 271 sold.

"February brought the bloom of an early spring market," says Victoria Real Estate Board President Sandi-Jo Ayers. "Sales numbers are up substantially from last year, which in part indicates that our spring market may have arrived a bit earlier than a lot of our local blossoms. Additionally, we need to consider that last year's sales activity was quite weak until April and May. Despite a thirty plus percent increase in total sales over last year, our ten-year average for total sales in February is 537, so we are within less than five per cent of our long-term average for the month." "...Read More

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- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal

Victoria real estate market returns to traditional sales numbers, but low inventory persists

A total of 411 properties sold in the Victoria Real Estate Board region this January, 24.9 per cent more than the 329 properties sold in January 2019 and 2.2 per cent more than in December 2019. Sales of condominiums were up 6.3 per cent from January 2019 with 118 units sold. Sales of single family homes increased 31.6 per cent from January 2019 with 200 sold.

""Our new year is already showing a strong distinction from the year previous," says Victoria Real Estate Board President Sandi-Jo Ayers. "We've returned to more traditional January sales numbers - which tend to be over 400 sales. Unfortunately, we have not seen a corresponding increase in listings alongside the demand, so buyers in the low- to mid-price segment of our market may find themselves in competition for desirable properties. Our market is challenging and at times like these the services of your local REALTOR® are invaluable."...Read More

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"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal

Victoria Real Estate market remains competitive

A total of 577 properties sold in the Victoria Real Estate Board region this November, 15.9 per cent more than the 498 properties sold in November 2018 and a 6.8 per cent decrease from October 2019. Sales of condominiums were up 5.9 per cent from November 2018 with 161 units sold. Sales of single family homes increased 15.4 per cent from November 2018 with 308 sold.

"We continue to see low inventory and strong demand for low to mid priced properties in our area, which is pushing pricing up on condos and single family homes that fall within that segment," says Victoria Real Estate Board President Cheryl Woolley. "It is a challenging time for those shopping for properties in that price range as they can often find themselves in a competing offer situation."...Read More

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"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal

Victoria Real Estate market impacted by low inventory, consistent demand

A total of 619 properties sold in the Victoria Real Estate Board region this October, 3.5 per cent more than the 598 properties sold in October 2018 and a 0.5 per cent increase from September 2019. Sales of condominiums were down 1.1 per cent from October 2018 with 178 units sold. Sales of single family homes increased 10 per cent from October 2018 with 318 sold.

This month's overall numbers are very similar to the numbers we saw last year," says Victoria Real Estate Board President Cheryl Woolley. "It's interesting that last month we saw a large uptick in condo sales, but this month is fairly flat when compared to last year. This shows that we are not yet seeing a trend in property types. "...Read More

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Victoria Real Estate Market shows increased interest in condos and townhomes

A total of 616 properties sold in the Victoria Real Estate Board region this September, 15.6 per cent more than the 533 properties sold in September 2018 but a 6.8 per cent decrease from August 2019. Sales of condominiums were up 48.3 per cent from September 2018 with 221 units sold. Sales of single family homes decreased 1.1 per cent from September 2018 with 282 sold.

""September's statistics clearly demonstrate that Victoria continues to have a stable real estate sector and is a desirable place to live," says Victoria Real Estate Board President Cheryl Woolley. "While sales are up compared to the same month last year, our inventory remains low, which may create challenges for people trying to get into the market in certain categories."."...Read More

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"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal

Victoria real estate summer sales and inventory levels follow historic patterns

A total of 661 properties sold in the Victoria Real Estate Board region this August, 11.3 per cent more than the 594 properties sold in August 2018 but a 6.4 per cent decrease from July 2019. Sales of condominiums were up 4.1 per cent from August 2018 with 203 units sold. Sales of single family homes increased 15.5 per cent from August 2018 with 351 sold.

"August could be considered a status quo month for real estate in greater Victoria with entry-level homes selling quickly when priced appropriately, and higher-end properties moving at a slower pace," says Victoria Real Estate Board President Cheryl Woolley. "As expected, we've seen relatively stable pricing, with an uptick in sales - particularly single family homes. Unfortunately, summer has been accompanied with a slowing of new inventory coming onto the market, which suggests it is a good time for prospective sellers to consult with their REALTOR® about selling in the fall market."."...Read More

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For more information on my listings,
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"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal

A lukewarm spring comes to an end for the Victoria Real Estate market

A total of 740 properties sold in the Victoria Real Estate Board region this June, 4.5 per cent more than the 708 properties sold in June 2018 but a 12.7 per cent decrease from May 2019. Sales of condominiums were down 6.1 per cent from June 2018 with 216 units sold. Sales of single family homes increased 10.4 per cent from June 2018 with 394 sold.."

"June has trended lower than May for the past few years and tends to signal the end of the active spring market," says Victoria Real Estate Board President Cheryl Woolley. "The summer months of July and August generally see less activity than the spring, as people's attention shifts to vacation and away from real estate. This year, we have seen slightly more sales compared to June of last year. We have also seen one hundred fewer new listings enter the market this year, which continues to make a challenging market for buyers who are hoping for more options." Read More

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"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal

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 per cent more than the 755 properties sold in May 2018 and a 21.8 per cent increase from April 2019. Sales of condominiums were up 3 per cent from May 2018 with 244 units sold and were up from April 2019 by 20.2 per cent. Sales of single family homes were up 9.6 per cent 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."...Read More

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For more information on my listings,
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"Shirin was wonderful to work with. She listened to our expectations for selling, helped formulate a plan and sold our house in record time! We found her very professional!"

- Lisa Sykes

"I've had AWESOME experience working with Shirin as my Realtor. We left our home in Toronto in Dec 2016 and took a bold step in buying a house in Victoria in April 2017 but knew no one here. She communicated with my whole family about differing needs staying in constant contact with important information - both basic and complex stuff. She listened in terms of adapting to our needs from understanding our time frame to giving references/contacts to sharing local knowledge honestly. She is hardworking, technology savy, detailed oriented, tenacious!."

- Anjan Chhetry

"When it comes to buying, insuring you make the right decision is my priority and I have your long term, best interest at heart. If something is not right for you, I will tell you, straight. When it comes to selling, I take marketing to an entirely new level. Call me to find out how!"
- Shirin Purewal