realtor real estate victoria bc dale sheppard Archives - Dale Sheppard

Victoria Real Estate Market Update-April 2026

Dale Sheppard — Thu, 16 Apr 2026 17:29:29 +0000

April 2026

Victoria Real Estate Board Market Report – April 2026
Victoria is now almost a month into the Spring market which tends to be the most active few months for listing and selling real estate in any given year. Sales are currently slower than previous spring markets, and homes must be well priced to attract interest as the over all listing inventory is on the higher side. This bodes well for Buyers, as there is a lot of choice in most sectors of the market.

Below are some statistics for March 2026 throughout the Greater Victoria region

Listing Inventory:

There were 3,261 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2026, an increase of 12.3 % compared to the previous month of February and a 7.9 % increase from the 3,023 active listings for sale at the end of March 2025. This higher inventory level is creating a buyers market, so if you are a Seller, make sure that your property is competitively priced to attract Buyers.

Sales:

A total of 579 properties sold in the Victoria Real Estate Board region this March, 5.5 % fewer than the 613 properties sold in March 2025 and 24.5 % more than in February 2026. Sales of condominiums decreased by 18.8 % from March 2025 with 164 units sold. Sales of single family homes decreased by 2.4 % from March 2025 with 285 sold. While sales were up from February, over all, the numbers are considerably slower than last year, which is contributing to the increase in listing inventory.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in March 2025 was $1,344,900. The benchmark value for the same home in March 2026 decreased by 1.1 % to $1,330,200, up from February’s value of $1,307,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in March 2025 was $558,100, while the benchmark value for the same condominium in March 2026 decreased by 0.8 % to $553,800, up from the February value of $545,600. While prices were up slightly from February, overall prices are still lower than 2025, but over all, these numbers are quite stable. There does not seem to be any factors creating a significant market change, so the coming months will probably continue in this same direction of slower sales, higher listing inventory, and not much change to over all prices.

For the full Victoria Real Estate Boards Statistical Package for 2026 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values for 2026.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighborhoods values.

https://www.bcassessment.ca/

Featured Listings:

485 Sturdee St $869,800

Situated in a Popular Esquimalt location, this well-maintained two-level 1/2 duplex family home offers bright southern exposure and is located on a fantastic quiet no thru road, just half a block to the ocean. Built in 1996 with 3 beds and 2 full baths, with 1686 Sq.ft. on 2 levels. The main floor offers a spacious living and dining areas, a generous primary bedroom with ensuite, and a beautiful European-style kitchen that opens to a large south-facing deck—perfect for entertaining and soaking up the sun. The lower level features a welcoming entry, two bedrooms, and a full bath—ideal for guests, family, or home office space. Outside, enjoy a fenced, private rear yard and garden, storage shed, and a separate single garage plus a large carport under the deck. Short walk to Esquimalt town centre for all local amenities, close to Saxe Point and 10 minutes to downtown Victoria.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1026151-485-sturdee-st-esquimalt-v9a-6r2.108066181

1975 Jeffree Rd $949,800

Situated in a sought-after family neighbourhood in Saanichton, this spacious 2,495 sq. ft. two-level home sits on a generous 8,400 sq. ft. lot, great for a growing family. Built in 1975 and thoughtfully designed, the main level features 3 generous bedrooms, primary bedroom with a walk-in closet & two-piece ensuite. The bright and welcoming living room with a cozy fireplace, separate dining area flows seamlessly into a well-appointed kitchen leading to a large entertainment-sized deck — perfect for summer BBQs & gatherings. Downstairs, you’ll find a family room with plenty of space for movie nights, hobbies, or play area. Fully self-contained one-bedroom in-law or extended family space, ideal for multigenerational living. Laundry facilities on both levels. Heat Pump. Fenced backyard offers plenty of room for kids and pets to play. Single garage, extra driveway parking, and dedicated space for your RV or boat. Located only 15 minutes to Victoria, BC Ferries and the Airport.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025781-1975-jeffree-rd-central-saanich-v8m-1k1.108034989

3370 Alfred Pl $949,800

Sought after Wishart South area of Colwood, located on a quiet cul-de-sac in, just minutes to the Ocean and all local amenities in Royal Bay. Built in 2004, this well-maintained 2-level home offers 1,800 sq/ft with 4 bedrooms plus a den and 3 baths. The main floor features an open-concept kitchen, dining, and living area with a cozy gas fireplace, opening to patio with gas BBQ hookup, and a level, fenced backyard perfect for kids and pets. A spacious office/den completes the main. Upstairs offers 4 bedrooms, including a primary bedroom with walk-in closet and 4-piece ensuite with soaker tub. Double garage, Built-in Vacuum, detached workshop with power, landscaped yard with garden beds, new gas hot water tank, crawl space. Short walk to all level of schools, close to parks Colwood Lagoon. Note: Shared cost with neighbour to maintain common property insurance & common property septic system hydro and maintenance.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025401-3370-alfred-pl-colwood-v9c-3j4.108044370

803-2000 Hannington Rd $749,800

Well Priced Luxury condominium in the beautiful “One Bear Mountain” complex, with wonderful South/West facing views towards the world renowned Bear Mountain Golf Resort Community. The exquisite interior spans over 1000 sq/ft and features 2 spacious bedrooms, 2 baths, hdwd floors, floor to ceiling windows that invite natural light leading out to the 291 sq/ft – 40′ long expansive view balcony looking towards the 18 hole with sun all day long. Gourmet kitchen with Italian Cabinets, Bosch Appliances, gas cook top, wall oven & microwave, Silestone counters. Spacious livingroom with cozy gas F/P. Primary Bdrm with walk-in closet & 4 piece ensuite. Enjoy exclusive amenities including 15th floor heated pool with panoramic views, 16th floor sky lounge & business Centre with concierge, 3rd floor gym & Yoga room. 1 parking spot, bike storage & separate storage locker. The perfect blend of luxury & convenience surrounded by natural beauty, golf course, restaurants, hotel, bike & walking trails.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1031678-803-2000-hannington-rd-langford-v9b-6r6.108480892

1670 Burnside Rd W $1,439,800

OPEN HOUSE SUNDAY, APRIL 19TH, 3:30PM-4:30PM. Beautiful 0.6 acres rural property in the sought after Burnside area of Saanich West. Incredible pastoral setting with lovely Olympic Mountain views! Spacious 3 level Lindal style family home with vaulted ceilings & wood beams. Bright Open concept. Gourmet kitchen with eating island & coffee nook. Office with gas F/p. 3 bdrms up, primary has deck & large walk-in closet. Lowest level has 1 bed & den self contained In-law. Outside is a gardeners paradise with level landscaped yard, greenhouse, vegetable gardens, mature perennial gardens, lots of fruit trees & berries. Large entertaining patio with kitchen & hot tub. Detached garage building with full bath, bdrm & kitchenette. Large circular driveway with lots of parking, room for trailer & boat. Great outdoor activities nearby including hiking & biking trails, lakes and Galloping Goose Trail. Minutes to all local amenities at Eagle Creek, 10 minutes to Costco, 20 minutes to Downtown Victoria.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1030379-1670-w-burnside-rd-saanich-v8x-3×3.108415002

2336 Nicklaus Dr $1,649,800

This immaculate two-story residence on Bear Mountain offers exceptional quality throughout and wonderful Views towards Mt. Baker with an open-concept floorplan perfect for modern living. Bright and roomy from the moment you enter the grand entrance and into the elegant living room to the spacious gourmet chef’s kitchen featuring custom cabinetry, high-end Jenn Air appliances, large eating island and a hidden pantry. Large office on main. Upstairs offers 5 bedrooms, including a luxurious primary retreat with private balcony, oversized walk-in closet, spa-like ensuite with jetted tub, dual sinks, and luxury glassed shower. Two cozy fireplaces, radiant in-floor heating, and heat pump elevate comfort and efficiency. Large double garage plus extra driveway parking along side. Legal 1 bdrm suite above garage. The private level backyard is an entertainer’s dream with barbeque area, gazebo with gas fire pit and wonderful views. 10 Minutes to Costco & Millstream Market, 30 minutes to Victoria.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1030172-2336-nicklaus-dr-langford-v9b-0l2.108346573

820-822 Leslie Dr $1,399,800

Great Saanich East location, next to Swan Lake and Galloping Goose Trail at the end of a no through road. Wonderful investment opportunity with this side by side duplex plus an extended family accommodation in the basement of one side. With just over 3000sq/ft, each side has 2 bedrooms, 1 bath, and lots of updates to floors, kitchens, bathrooms, windows, fixtures and paint so they all show very well. Separate hydro, gas, water, laundry, furnaces, hot water on demand systems (2021 and 2025 install) for each side. 822 side has new gas furnace & heat pump for air conditioning in the summer. Large deck, and a nice fenced and private rear yard with some seasonal views of the lake. Large common storage room plus large stand-alone garden shed on cement platform. There is plenty of rear, side and front parking on the property. Enjoy Swan Lake Park & Galloping Goose trail at your doorstep, and a short stroll to the Uptown Mall! 10 minutes to downtown. Excellent Revenue Property Opportunity.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1030162-820-822-leslie-dr-saanich-v8x-2y4.108346544

1002-777 Herald St $534,800

Enjoy Downtown living at the Luxurious Hudson Place One, a 25 story steel and concrete building with 7 day Concierge service. This 1 bedroom suite is in immaculate condition and is very bright facing West to enjoy the city and mountain views and fabulous afternoon and evening sun from the balcony. Well designed layout with quality built-in appliances, modern finishes and bright open layout from kitchen, eating area to living room. Spacious bedroom with walk-in closet, in suite laundry, separate storage and 1 secure parking spot. Exception list of building amenities includes: fully equipped gym, yoga studio, sauna with showers, hobby/craft room, games room, business centre, guest suite, dog wash area, dedicated dog park, and a stylish lounge/event room complete with kitchen and BBQ deck. Grocery Store across the street, and all downtown amenities within minutes. 2 blocks from Save-On Memorial Centre. A superb lifestyle opportunity offering comfort, convenience, and community all in one.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1029664-1002-777-herald-st-victoria-v8t-0c7.108317543

308-835 View St $339,800

Immaculate 1 Bed condo in the highly sought after Metropolitan building. Investors and first-time buyers will see great value in this steel and concrete building only steps away from everything that Downtown Victoria has to offer. The apartment features a well-designed layout that maximizes space & natural light with new flooring & baseboards throughout. The living room is an inviting area for relaxation & entertainment & the kitchen provides ample space for your meal preparations. The bedroom is a peaceful retreat with enough room for a queen size bed and end tables! Ample storage space, convenient in-suite laundry, as well a spacious south-facing balcony offering a quiet, peaceful outdoor retreat – ideal for relaxing or enjoying your morning coffee. Pets allowed and unit is rentable! Close to transit. Easy access to an abundance of amenities, including trendy restaurants, vibrant shops, entertainment venues, cafes and picturesque parks. A real pleasure to show.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025387-308-835-view-st-victoria-v8w-3w8.108025354

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1030379-1670-w-burnside-rd-saanich-v8x-3×3.108415002

We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-April 2026 appeared first on Dale Sheppard.

Victoria Real Estate Market Update-March 2026

Dale Sheppard — Tue, 10 Mar 2026 17:24:38 +0000

March 2026

Victoria Real Estate Board Market Report – March 2026
The Victoria real estate market has held steady through the early months of 2026. With plenty of outside factors keeping both buyers and sellers sidelined, sales numbers have slowed this year, but home prices have remained resilient and continue to hold their ground. That said, the market is beginning to tilt in favour of buyers. With more listings available, Buyers have greater choice than we’ve seen in recent months. For Sellers, this means pricing your home correctly is more important than ever to stand out and attract serious interest.

Below are some statistics for February 2026 and Year end throughout the Greater Victoria region

Listing Inventory:

There were 2,903 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2026, an increase of 10.6 % compared to the previous month of January and a 10.4 % increase from the 2,630 active listings for sale at the end of February 2025. This increased inventory bodes well for Buyers, resulting in lots of choice and allowing extra time to make Buying decisions.

Sales:

A total of 465 properties sold in the Victoria Real Estate Board region this February, 11.9 % fewer than the 528 properties sold in February 2025 and 37.2 % more than in January 2026. Sales of condominiums decreased by 19.8 % from February 2025 with 154 units sold. Sales of single-family homes decreased by 12 % from February 2025 with 206 sold. Sales numbers always pick up as we near the spring market but the current drop in sales from 2025 numbers a bit concerning. While higher listing inventory is good for Buyers, if sales do not keep pace with the increased inventory levels, this excess supply eventually leads to price drops in the market. The next few months will be interesting to see how these imbalances play out.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2025 was $1,319,100. The benchmark value for the same home in February 2026 decreased by 0.9 % to $1,307,400, up from January’s value of $1,265,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2025 was $549,600, while the benchmark value for the same condominium in February 2026 decreased by 0.7 % to $545,600, up from the January value of $537,800. Both single family home and condo prices have jumped up slightly in February, but remain relatively unchanged from 1 year ago. Prices are remaining stable in our region which is a good thing for our market. However, continued increasing inventory levels, combined with a lot of outside distractions keeping Buyers sidelined, may create a prolonged slower market in Victoria, so it is hard to predict where prices will end up in the coming months.

For the full Victoria Real Estate Boards Statistical Package for 2026 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

https://www.bcassessment.ca/

Featured Listings:

485 Sturdee St $949,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1026151-485-sturdee-st-esquimalt-v9a-6r2.108066181

1975 Jeffree Rd $999,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025781-1975-jeffree-rd-central-saanich-v8m-1k1.108034989

3370 Alfred Pl $998,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025401-3370-alfred-pl-colwood-v9c-3j4.108044370

Lot A 265 Trans Canada Hwy $3,999,800

Moon Water Lodge is a beautiful west coast designed boutique Hotel situated on a special 9.58acre parcel with spectacular panoramic ocean and mountain views of Finlayson Arm and Mt. Finlayson. The business is running very well and is quite self sufficient. 8400 sq/ft on 4 levels with 14 rooms with potential to expand as lowest level is unfinished. Sale includes the business, building and land. The large acreage has great potential as well. Hotel was built in 2002. The rooms are all positioned to take advantage of the views, with kitchenettes, propane fireplaces, soaker tubs. Real Estate and Business are included in sale. All Business equipment, supplies and web site are included. Serviced by septic treatment plant and drilled well. Located next door to the Malahat Chalet restaurant. Call for appointment.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

933 Turnstone Ridge $598,800

Popular Turnstone Ridge Development in the Happy Valley area of South Langford. 3 Story Modern Townhouse offering 2 spacious Bedrooms & 2 Bathrooms. You will Love the Open Living Concept main floor with Designer Kitchen & Quartz Counters, Stainless Appliances, Gas Fireplace, Gas On Demand Hot Water, Gas Cooktop on Oven, Gas Line to Patio for BBQ. Updated Ductless Heat Pump for Cool Summers and Warm Winters. This unit will impress with its Quality Finishes, includes Laminate Flooring, Ceramic Tiles, Luxury Carpets, Closet Organizers, some updated hardware and fixtures. Large Tandem Double Car Garage with roughed in EV Charger, and extra storage! This unit has a Private Rear Patio off the Kitchen. Unfinished space is storage at back of the garage which other units have finished as a bedroom. Located a short walking distance to Happy Valley Elementary and the Galloping Goose Trail. 10 minutes to Belmont Market and Royal Bay. 2-5-10 New Home Warranty.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024631-933-turnstone-ridge-langford-v9c-0j4.107740859

308 835 View St $339,800

Immaculate 1 Bed condo in the highly sought after Metropolitan building. Investors and first-time buyers will see great value in this steel and concrete building only steps away from everything that Downtown Victoria has to offer. The apartment features a well-designed layout that maximizes space & natural light with new flooring & baseboards throughout. The living room is an inviting area for relaxation & entertainment & the kitchen provides ample space for your meal preparations. The bedroom is a peaceful retreat with enough room for a queen size bed and end tables! Ample storage space, convenient in-suite laundry, as well as a large south facing balcony providing a cozy outdoor space, perfect for enjoying a cup of coffee or soaking up the city views. Pets allowed and unit is rentable! Close to transit. Easy access to an abundance of amenities, including trendy restaurants, vibrant shops, entertainment venues, cafes and picturesque parks. A real pleasure to show.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025387-308-835-view-st-victoria-v8w-3w8.108025354

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-March 2026 appeared first on Dale Sheppard.

Victoria Real Estate Market Update-February 2026

Dale Sheppard — Wed, 11 Feb 2026 18:54:30 +0000

February 2026

Victoria Real Estate Board Market Report – February 2026
While some large markets across Canada have experienced significant price drops over the last year, the Victoria Real Estate Market has remained quite resilient. Overall sales have slowed in recent months, and listing inventory remains on the higher side, but prices have only dropped slightly. Interest rates remain stable so not much should change in the market in the coming months.

Below are some statistics for January 2026 and Year end throughout the Greater Victoria region

Listing Inventory:

There were 2,624 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2026, an increase of 3.1 % compared to the previous month of December and a 9.6 % increase from the 2,395 active listings for sale at the end of January 2025. This higher inventory is great for Buyers, increasing their choice and allowing more time to make Buying decisions.

Sales:

A total of 339 properties sold in the Victoria Real Estate Board region this January, 19.7 % fewer than the 422 properties sold in January 2025 and 7.6 % fewer than in December 2025. Sales of condominiums decreased by 25.3 % from January 2025 with 109 units sold. Sales of single family homes decreased by 21.1 % from January 2025 with 153 sold. Overall sales were quite low in January. With the current higher inventory levels, only about 1 in 7 homes are selling per month. Therefore, Sellers must price there homes correctly to attract showings and offers.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index* benchmark value for a single family home in the Victoria Core in January 2025 was $1,297,300. The benchmark value for the same home in January 2026 decreased by 2.5 % to $1,265,500, up from December’s value of $1,255,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2025 was $545,900, while the benchmark value for the same condominium in January 2026 decreased by 1.5 % to $537,800, down from the December value of $549,900. Year over year, prices are down in most sectors of the Greater Victoria market. This is to be expected as inventory levels increase while sales drop. Victoria is a desirable city that continues to attract new residents, allowing the market to remain buoyant even in slower economic times.

For the full Victoria Real Estate Boards Statistical Package for 2026 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

https://www.bcassessment.ca/

Featured Listings:

6885 Laura’s Lane $739,800

This great valued Rancher is located on a quiet cul-de-sac in a popular Family Neighbourhood in Sooke, only minutes to all local amenities in the Sooke town core. Quality built in 2015, this one level home is elegantly designed with 3 bedrooms, 2 baths and just over 1600 sq.ft. The open-concept layout offers 10’ ceilings, bleached wood-style laminate flooring, bright living room with picture windows and a modern gas fireplace. Stylish kitchen with quartz counters, tile backsplash, stainless appliances & gas cooktop. Dining with slider to sunny back patio. Spacious bedrooms, including a primary with huge walk-in closet & spa-like 5pc ensuite. Hot water on demand, quality finishes throughout. Fully fenced, irrigated & beautifully landscaped with pear trees, grapevines & Japanese maple. Large over sized garage. A perfect blend of comfort & style! Well priced! Listed below BC Assessed value.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024973-6885-laura-s-lane-sooke-v9z-0p8.107974345

default

PH2 103 Gorge Rd E $424,800

Top Floor Penthouse suite at the popular Treelane Estates. Waterfront Living on the Gorge Waterway! Bright one-bedroom suite with stunning southwest water, city and mountain views. Treelan Estates is comprised of two steel & concrete buildings that are quietly set back from the road on the Gorge Waterway. This suite boasts a spacious living/dining area, galley kitchen, large bedroom, and a storage room. Great views from all windows plus a large view balcony. Laundry is conveniently located on same floor. The building itself is known for its strong amenities, including a rooftop patio and lounge, kayak and bike storage, workshop, guest suite. Located along the scenic Gorge Waterway with walking trails and water access nearby, this central location provides easy access to downtown Victoria, Tillicum Centre, and major transit routes. Affordable entry into a waterfront complex in a desirable, established community.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024971-ph2-103-e-gorge-rd-victoria-v9a-6z2.107974344

1954 Polo Park Crt $819,800

This well designed and quality built townhouse offers over 1,600 sq ft on 2 levels. One of Saanichton’s most convenient & desirable locations. Main level living with primary bedroom on main for those looking for no stairs. The kitchen features a corner island & breakfast area, perfect for casual mornings, while the spacious open living and dining area lead to a private garden patio. The main-floor primary bedroom offers a spa-inspired ensuite with a soaker tub and separate shower and walk-in closet. Upstairs has two more spacious bedrooms and a main bathroom, ideal for guests or caretaker. Double garage and large private driveway with room for 2 more vehicles complete the package. Lots of storage. Walking distance to groceries, banking, pharmacy, hardware store, post office, cafés and eateries, centrally located for easy commute to both Sidney and Victoria. This exceptional home blends comfort, lifestyle, and location in perfect harmony.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024120-1954-polo-park-crt-central-saanich-v8m-2k1.107709923

Lot A 265 Trans Canada Hwy $3,999,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

933 Turnstone Ridge $598,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024631-933-turnstone-ridge-langford-v9c-0j4.107740859

109 797 Tyee Rd $649,800

The Gateyard is a quality-built Vic West complex in the Railyards community fronting the Selkirk Waterway and close to the Galloping Goose Trail. Spacious 2 bedroom, 2 bath condo with 2 parking spots, separate storage and 2 pets allowed! 973 sq/ft plus a 309 sq.ft private and part covered garden patio. Cozy electric fireplace in the spacious livingroom, large kitchen with stainless appliances and wood floors. Nice open layout to the spacious livingroom and dining area with a cozy electric fireplace and leading to the entertaining sized patio. Primary bedroom has 4 piece ensuite and large closet space, in-suite laundry, 2 in ground secure parking spots. Short walk to amenities, and minutes to downtown Victoria. Pet friendly.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024215-109-797-tyee-rd-victoria-v9a-7r4.107717024

521 Pamela Pl $1,399,800

OPEN HOUSE SUNDAY, FEB 15TH, 1:30PM-3:00PM. Spacious 2 level family home in desirable Northridge area of Saanich located on a quiet cul-de-sac. Built in 1996, with 3200+ sq/ft on 2 levels, 5 bedrooms, 4 baths. The main level features large formal livingroom with gas f/p, brand new kitchen with stainless appliances, quartz counters, under cabinet lighting, dining area and familyroom with 2nd gas f/p, plus 3 spacious bedrooms, 2 full bathrooms, updated vanities. Primary with large ensuite, soaker tub, separate shower, walk-in closet. 2 large decks for entertaining. Downstairs offers 2 bedrooms, 2 baths, and great options for extended or multi-generational living with perfect flex area with own bathroom, ideal for teenager or home office. 3rd gas F/p down, 2 laundry areas, heat pump with electric furnace, nicely landscaped with fenced yard, great for kids & pets. Double garage plus large driveway. Close to Royal Oak Shopping, excellent schools, 15 minutes to downtown, Airport & Ferries.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024957-521-pamela-pl-saanich-v8z-4h1.107961013

4 933 Meares St $1,249,800

Enjoy luxurious downtown Victoria living at the award winning Terra Rose, built by Abstract Developments. A private enclave of 6 townhomes overlooking heritage greenspace. An oasis within the city. Enter through a private breezeway surrounded by mature landscaping & custom walkway lighting. Over 2000 sq. ft. of elegant living with 3 bedrooms and 4 bathrooms. Quality finishings including 10′ ceilings, cherry wood floors, custom wood & stainless appliances, granite counters, wine fridge, built in cabinetry, in-floor radiant heat, gas f/p. Primary bedroom has vaulted ceilings, Juliet park view Balcony, spa inspired ensuite w/separate shower & soaker tub. Lowest level offers 3rd bedroom or office with murphy bed. Entertain on your 200 sq/ft private garden terrace w/BBQ hookup. 2 underground parking spots with EV charger, separate storage plus a heated storage attic. 5-10 minute walk to most downtown shopping, restaurants, theatres, cinemas, and cultural venues.

View Listing herehttps://dalesheppard.com/search-listings/featured-listings/#!listing.1024894-4-933-meares-st-victoria-v8v-3j5.107951749

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-February 2026 appeared first on Dale Sheppard.

Victoria Real Estate Market Update-January 2026

Dale Sheppard — Wed, 14 Jan 2026 20:36:36 +0000

January 2026

Victoria Real Estate Board Market Report – December 2025
The Greater Victoria and Westshore markets were quite resilient in 2025. While the news headlines were geared towards the distractions from South of the border, our region registered a slight increase in overall sales for the year compared to 2024, and prices in most areas remained stable. Listing inventory was up, so Buyers had a lot of choice, and the market remained balanced with slight favour to Buyers. 2026 will most likely remain the same, unless there are large global interruptions affecting our market.

Below are some statistics for December 2025 and Year end throughout the Greater Victoria region

Listing Inventory:

There were 2,544 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2025, a decrease of 19.3 % compared to the previous month of November but an 11.1 % increase from the 2,290 active listings for sale at the end of December 2024. Overall inventory is up from a year ago, but marginally. Buyers will continue to have good options as the year progresses.

Sales:

A total of 367 properties sold in the Victoria Real Estate Board region this December, 12.8 % fewer than the 421 properties sold in December 2024 and 18.6 % fewer than in November 2025. Sales of condominiums were down 21.5 % from December 2024 with 106 units sold. Sales of single family homes decreased by 2.6 % from December 2024 with 186 sold. There were 6,918 sales over the course of 2025, a 0.36 % increase from the 6,893 sales in 2024. While the overall sales numbers have remained consistent over the last 2 years, the last few months have shown lower sales numbers, so 2026 could have fewer sales than 2025 if this trend continues. The Bank of Canada’s pause on interest rate changes is predicted to remain for the next 6 months, so not much should change in the market between now and then.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2024 was $1,316,700. The benchmark value for the same home in December 2025 decreased by 4.7 % to $1,255,000, down 1.7 per cent from November’s value of $1,276,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2024 was $546,100 while the benchmark value for the same condominium in December 2025 increased by 0.7 % to $549,900, a decrease of 0.6 % from the November value of $533,100. Prices have softened over the last few months for single family homes, and condos are remaining about same. However, with the recent lower monthly sales numbers and rising inventory levels that occur in the first half of the year, the stable prices might soften somewhat. This will depend on the Bank of Canada’s interest rate policy and the long term economic effects from the policies South of the border. All in all it should be a decent year for the Greater Victoria markets.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

https://www.bcassessment.ca/

Featured Listings:

113 1201 Nova Crt $699,800

Step into contemporary elegance with this beautifully appointed 3-bedroom, 2-bath modern townhome — a perfect blend of design, comfort, and functionality. The open-concept layout is filled with natural light, featuring a sleek fireplace as the centerpiece of the living area. 14′ vaulted ceilings, quartz counters in kitchen, wide plank ,aminate flooring, natural gas stove and tankless hot water heater. Primary bedroom has ensuite and large walk-in closet. Enjoy seamless indoor-outdoor living with a private balcony and a spacious 267 sq/ft roof top deck with electrical, water and gas hookup, perfect for morning coffee or evening entertaining with sweeping forest and mountain views. The large carport offers convenient covered parking for 2 vehicles, and additional storage. Bonus 4’10” full crawlspace for storage. Thoughtfully designed with quality finishes throughout, this home delivers effortless modern living in a desirable location close to shopping, parks, and vibrant local amenities.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1018597-113-1201-nova-crt-langford-v9b-0t7.107266465

216-1375 Bear Mountain PKWY $529,800

Located on Bear Mountain in the popular St. Andrew’s Walk. Quietly tucked away overlooking the 9th fairway, this beautifully updated 2 bed condo offers a rare blend of privacy and effortless living. Covered south-facing deck invites you to unwind as the afternoon sun shines bright into the suite, and enjoy the tranquil golf course views & the gentle flutter of hummingbirds. The gourmet kitchen, featuring granite counters & a comfortable eating island, flows effortlessly into the Living and Dining areas, creating a bright, open-concept space with a cozy electric fireplace. Updates includes quality wood floors, newer appliances, built-in cupboard organizers that maximize function and style, Murphy bed in 2nd bedroom. Lots of storage, bike area, and secure underground parking. A truly inviting home in a peaceful natural setting. Just Steps away from the Village, Westin Hotel & Spa, Athletic Club, & restaurants. Secure parking, Pets allowed

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020510-216-1375-bear-mountain-pkwy-langford-v9b-0c9.107348919

1954 Polo Park Crt $849,800

Impeccably presented and thoughtfully designed, this three-bedroom residence offers over 1,600 sq ft of refined living in one of Saanichton’s most convenient & desirable settings. Soaring ceilings & abundant natural light create an airy sense of space throughout. The gourmet kitchen features a corner island & breakfast area, perfect for casual mornings, while the spacious living and dining areas open seamlessly and lead to a private garden patio. The main-floor primary bedroom offers a spa-inspired ensuite with a soaker tub and separate shower and walk-in closet. Upstairs has two more spacious bedrooms and a main bathroom. A double garage and private driveway for 2 more cars complete the package. Lots of storage. Located just steps from shopping, cafés, and local amenities, and centrally located for easy commute to both Sidney and Victoria, this exceptional home blends comfort, lifestyle, and location in perfect harmony.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020418-1954-polo-park-crt-central-saanich-v8m-2k1.107348968

Lot A 265 Trans Canada Hwy $3,999,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

933 Turnstone Ridge $619,800

Popular Turnstone Ridge Development in the Happy Valley area of South Langford. 3 Story Modern Townhouse offering 2 spacious Bedrooms & 2 Bathrooms. You will Love the Open Living Concept main floor with Designer Kitchen & Quartz Counters, Stainless Appliances, Gas Fireplace, Gas On Demand Hot Water, Gas Cooktop on Oven, Gas Line to Patio for BBQ. Updated Ductless Heat Pump for Cool Summers and Warm Winters. This unit will impress with its Quality Finishes, includes Laminate Flooring, Ceramic Tiles, Luxury Carpets, Closet Organizers, some updated hardware and fixtures. Large Tandem Double Car Garage with roughed in EV Charger, and extra storage! This unit has a Private Rear Patio off the Kitchen. Located a short walking distance to Happy Valley Elementary and the Galloping Goose Trail. 10 minutes to Belmont Market and Royal Bay. 2-5-10 New Home Warranty.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1022997-933-turnstone-ridge-langford-v9c-0j4.107640114

109 797 Tyee Rd $698,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1022397-109-797-tyee-rd-victoria-v9a-7r4.107575446

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-January 2026 appeared first on Dale Sheppard.

Victoria Real Estate Market Update-December 2025

Dale Sheppard — Tue, 09 Dec 2025 21:49:19 +0000

December 2025

December is here, and the holiday season is rapidly approaching. I wish you and your family all the best over the holidays, and a prosperous New Year!
The Victoria Real Estate market has remained stable over the last few months. Sales numbers dropped in November but that is typical as we near the end of the year. While interest rates are poised to remain unchanged in the coming months, and listing inventory on the higher side, prices continue to remain stable, which shows the resilience of the Victoria market. Not much is expected to change in the Greater Victoria market for the remainder of the year, and into 2026.

Below are some statistics for November 2025 throughout the Greater Victoria region

Listing Inventory:

There were 3,152 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2025, a decrease of 7.9 % compared to the previous month of October and an 11.1 % increase from the 2,836 active listings for sale at the end of November 2024. Today’s elevated inventory is giving buyers exceptional selection, but it also puts pressure on sellers to price sharply to stand out. With roughly one in seven properties selling each month, proper pricing is essential for Sellers to attract viewings and offers.

Sales:

A total of 451 properties sold in the Victoria Real Estate Board region this November, 18.1 % fewer than the 551 properties sold in November 2024 and 26.9 % fewer than in October 2025. Sales of condominiums decreased by 36 % from November 2024 with 119 units sold. Sales of single-family homes decreased by 8.4 % from November 2024 with 241 sold. The sales numbers decreased considerable in November. Declining numbers towards the end of a year are not unusual, but with interest rates lower today than in 2024, this is unusual. The effects of the global and Canadian economic picture might be catching up with our local markets. The coming months should remain relatively unchanged, but it is hard to predict outcomes in these uncertain times.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index* benchmark value for a single family home in the Victoria Core in November 2024 was $1,313,900. The benchmark value for the same home in November 2025 decreased by 2.8 % to $1,276,700, down from October’s value of $1,280,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in November 2024 was $542,100, while the benchmark value for the same condominium in November 2025 increased by 2 % to $553,100, up from the October value of $549,000. Single-family home prices are not only lower than in 2024, but they also dipped slightly compared to October of this year. With inventory remaining high, sellers need to price accurately to capture buyer interest. Condo prices saw a small month-over-month increase, but condos continue to be more challenging to sell due to oversupply. Overall, prices across Greater Victoria have been relatively stable and are expected to remain this way for the foreseeable future.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values are now out for 2025.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighborhoods values.

https://www.bcassessment.ca/

Featured Listings:

113 1201 Nova Crt $749,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1018597-113-1201-nova-crt-langford-v9b-0t7.107266465

216-1375 Bear Mountain PKWY $529,800

OPEN HOUSE SAT, DEC 13TH, 10:00AM-11:30AM. Located on Bear Mountain in the popular St. Andrew’s Walk. Quietly tucked away overlooking the 9th fairway, this beautifully updated 2 bed condo offers a rare blend of privacy and effortless living. Covered south-facing deck invites you to unwind as the afternoon sun shines bright into the suite, and enjoy the tranquil golf course views & the gentle flutter of hummingbirds. The gourmet kitchen, featuring granite counters & a comfortable eating island, flows effortlessly into the Living and Dining areas, creating a bright, open-concept space with a cozy electric fireplace. Updates includes quality wood floors, newer appliances, built-in cupboard organizers that maximize function and style, Murphy bed in 2nd bedroom. Lots of storage, bike area, and secure underground parking. A truly inviting home in a peaceful natural setting. Just Steps away from the Village, Westin Hotel & Spa, Athletic Club, & restaurants. Secure parking, Pets allowed

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020510-216-1375-bear-mountain-pkwy-langford-v9b-0c9.107348919

1954 Polo Park Crt $849,800

OPEN HOUSE SUNDAY, DECEMBER 14TH, 1-3PM. Impeccably presented and thoughtfully designed, this three-bedroom residence offers over 1,600 sq ft of refined living in one of Saanichton’s most convenient & desirable settings. Soaring ceilings & abundant natural light create an airy sense of space throughout. The gourmet kitchen features a corner island & breakfast area, perfect for casual mornings, while the spacious living and dining areas open seamlessly and lead to a private garden patio. The main-floor primary bedroom offers a spa-inspired ensuite with a soaker tub and separate shower and walk-in closet. Upstairs has two more spacious bedrooms and a main bathroom. A double garage and private driveway for 2 more cars complete the package. Lots of storage. Located just steps from shopping, cafés, and local amenities, and centrally located for easy commute to both Sidney and Victoria, this exceptional home blends comfort, lifestyle, and location in perfect harmony.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020418-1954-polo-park-crt-central-saanich-v8m-2k1.107348968

Lot A 265 Trans Canada Hwy $3,999,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-December 2025 appeared first on Dale Sheppard.

Victoria Real Estate Market Update-November 2025

Dale Sheppard — Fri, 07 Nov 2025 18:33:29 +0000

November 2025

The Victoria Real Estate market continues to remain in a balanced state with great options for Buyers in most sectors of the market. The small interest rate drop by the Bank of Canada was welcomed by the industry and should allow a few more first time Buyers to enter the market.

Below are some statistics for October 2025 throughout the Greater Victoria region

Listing Inventory:

There were 3,423 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2025, a decrease of 7.3 % compared to the previous month of September and an 8.3 % increase from the 3,161 active listings for sale at the end of October 2024. Inventory usually starts to drop as we near the end of the year, but there is still a healthy supply of homes and condos on the market

Sales:

A total of 617 properties sold in the Victoria Real Estate Board region this October, 5.7 % fewer than the 654 properties sold in October 2024 and 11.4 % more than in September 2025. Sales of condominiums decreased by 15 % from October 2024 with 159 units sold. Sales of single family homes increased by 2.9% from October 2024 with 350 sold. The October sales numbers were down from 2024, but up from last month, which shows there is still strength in the market.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2024 was $1,300,200. The benchmark value for the same home in October 2025 decreased by 1.8 % to $1,276,500, down from September’s value of $1,294,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2024 was $547,800, while the benchmark value for the same condominium in October 2025 increased by 0.6 % to $551,000, up from the September value of $547,500. Prices in all sectors of the market in Victoria have remained stable over the last few months, with small fluctuations up and down, leaving a strong balanced market for the coming months.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

https://www.bcassessment.ca/

Featured Listing:

627 Rason Rd $1,149,800

Great Thetis Heights family area in Langford. Spacious 5 Bedroom, 4 Bathroom family home with 2 bedroom legal suite. Featuring hardwood floors, stainless steel appliances, and a stunning double-sided fireplace, this home blends comfort and style. Both living areas are bright and welcoming, with plenty of room for family gatherings. Upstairs offers generous bedrooms, walk in closet and ensuite with jetted tub, Ample cabinet space and lots of natural light, while the lower-level suite—with its own private entrance—provides excellent flexibility for extended family or rental income. Enjoy outdoor living with a sunny deck, shaded sitting areas, and a fully fenced yard. Heat pumps for air conditioning in the summer. The crawl space is full height with room for more development and great storage, an office area is set up in this space. A double garage plus ample parking make this property ideal for families on the go. Conveniently located near schools, parks, and amenities.

View Listing here: https://dalesheppard.com/search-listings/featured-listings/#!listing.1014390-627-rason-rd-langford-v9b-6c3.106983061

113 1201 Nova Crt $784,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1018597-113-1201-nova-crt-langford-v9b-0t7.107266465

3638 Ridge View Terr $1,399,800

Elevation Pointe is a quality luxurious subdivision in Colwood with nice Mountain & Ocean views, located close to Royal Bay, Olympic View Golf & Colwood Lagoon. This modern contemporary open-concept executive home features expansive floor-to-ceiling windows, white oak engineered wood floors, chef’s kitchen, granite surfaces, Bespoke cabinetry, large island, premium appliances, dual ovens, a warming drawer & gas cooktop. Open dining and living areas anchored by a striking stone-clad gas fireplace, automated blinds, large office with built-ins. Upstairs has 3 bdrms, main bath & laundry, primary bedroom has it’s own terrace, a spa-inspired ensuite & large walk-in closet. The lower level hosts a legal self-contained one-bedroom suite with own hydro meter, laundry & private patio, great rental income or extended family. Constructed with silent floors & rebar-reinforced. Double garage, heat pump, backs onto a private green space. Well Priced for this Market!

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015709-3638-ridge-view-terr-colwood-v9c-0m3.107125141

1124 Colville Rd $849,800

Great Esquimalt location, backing onto the Gorge Vale Golf Course. Zoning is RS-6, but Esquimalt indicated Small Scale Multi Family (RSM-2) Medium Density is permitted in this area. Charming 3 Bedroom rancher with loads of potential! This cozy home offers comfortable one-level living with a bright, functional layout. The inviting living room features a woodstove for warmth and character, while the kitchen with pantry provides plenty of space for your ideas. 3 bedrooms plus a potential 4th bedroom make this a great fit for families, downsizers, or investors. Step outside to enjoy the private, part fenced yard – perfect for kids, pets, or gardening with a huge entertaining deck with hot tub. Single garage plus parking in driveway for 2 cars. Conveniently located close to schools, parks, shopping, and transit. Only 10 minutes to downtown Victoria.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1014997-1124-colville-rd-esquimalt-v9a-4p7.106959610

Lot A 265 Trans Canada Hwy $3,999,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-November 2025 appeared first on Dale Sheppard.

Victoria Real Estate Market Update – Winter 2017

Dale Sheppard — Thu, 09 Feb 2017 20:09:46 +0000

2017 is already into it’s second month and who would have thought that Victoria would have received a severe snowfall in early February? The real estate market is always temporarily frozen when Victoria gets a snow fall, but things should be back to normal in the next day or so, as the snow is melting fast, and the forecast is for warmer weather finally. The sales numbers have been slightly lower this year compared to 2016, but the overall real estate market is on course to have another big year. Hope you are having a great start to 2017!

The Victoria real estate market was so busy in 2016 that there were record high sales numbers, record high average prices, and as a result, we are now left with a record low number of homes for sale in the region. There were just over 1400 listings of all kinds of properties for sale at the beginning of the year, down from about 2400 the previous year. This comes at a time when the market cycle for real estate is on an upward trend. Based on previous historic models over the last 50 years, where the real estate cycles usually average about 7 years up, and 7 years down, we are statistically only at about year 2 or a 7 year run up. Currently, interest rates are still low and immigration from around the world, the US, and migration within provinces is still strong. The unemployment rate in Victoria is among the lowest in Canada. The tech industry is booming and tourism in the region is creating a hotel shortage. At this time, there appears to be no major economic factor that would negatively change our market in the short term other than the effect of not having enough homes to sell, which so far has resulted in fewer sales to date over 2016.

A couple of things to watch for in 2017 will be the possibility of the BC Government expanding the controversial 15% foreign buyer tax to other parts of the province, namely Victoria. Also, the fee premiums for Mortgages that are insured by CMHC will be increasing in March of 2017. At this time, the 15% foreign tax is only in the Greater Vancouver area. However, some of the elected officials at the City of Victoria appear to want this tax expanded to the Greater Victoria region, so we will see where this plays out as the year progresses. The speculation is that the tax may not effect Victoria’s market that much, as foreign buyers account for under 10% of buyers in the Greater Victoria market, as of the statistics for 2016. The increase in CMHC fees will affect a small segment of the first time buyer market, as the higher fees will most likely result in a lower house price qualifying limit for some buyers. Currently, rates are still at historic lows, but the global trend appears to be one of increasing rates, as long term bond yields are currently rising, which usually results in higher long term mortgage rates. In the meantime, forecasts for the remainder of 2017 are predicting that interest rates will remain low in Canada. This will bode well for buyers. Overall, the outlook appears to be positive.

All the best to you and your families in 2017!

Sincerely, Dale.

Here are a few links to various real estate sources that may be of interest to you:

1. Up-to-date real estate information on my Facebook page: VictoriaBCProperties

2. Latest Website Newsletter: Newsletter

3. Latest historical statistics from the Victoria Real Estate Board: VREBStatistics

4. Search for Victoria Properties at my website: www.DaleSheppard.com

All the best to you and your family, and have a great 2017!

The post Victoria Real Estate Market Update – Winter 2017 appeared first on Dale Sheppard.