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    Investing in Victoria Real Estate

    A total of 735 properties sold in the Victoria Real Estate Board region this October, a single property more than the 734 properties sold in October last year.

    Inventory levels remain lower than last year, with 1,938 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2016, 38.9 per cent fewer than the 3,170 active listings at the end of October 2015.

    "We continue to see low inventory hindering sales in the local market," notes Mike Nugent, 2016 President of the Board. "Though our numbers are down from the record setting pace set this summer, the market is still moving quickly and is still very competitive for certain properties. High demand areas like Saanich and Oak Bay continue to see multiple offers and areas in the West Shore are also seeing sales over listed prices. In other areas, prices remain firm because of high demand and extremely limited inventory."

    The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2015 was $608,200. The benchmark value for the same home in October 2016 has increased by 24.1 per cent to $755,000.

    "The federal government's change to mortgage lending rules has also impacted buyers," adds President Nugent. "Buyers that require mortgage insurance are able to qualify for significantly smaller mortgages than before the rule change and this is further limiting their options in a very restricted market. Some buyers have postponed their search in order to save up more of a down payment so they can work within these new limitations."

    Hot Victoria Area Investment Properties

    2062 Chaucer  St, Oak Bay image
    2062 Chaucer St, Oak Bay $1,199,000

    Open Saturday April 1st - 1-3 p.m. - Looking for a home with English country charm? This 3 bedroom, 2 bathroom home, nestled in Oak Bay’s desirable “Poets Corner” will no...

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    • 2 Beds
    • 2 Baths
    • 927315 MLS
    Courtesy of Newport Realty Ltd.

    Courtesy of Newport Realty Ltd.

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    3369 Radiant  Way, Langford image
    3369 Radiant Way, Langford $699,000

    Welcome to your dream home at 3369 Radiant Way! This stunning Arts and Crafts style townhome is an absolute gem, featuring 3 bedrooms, 3 bathrooms, and a single car garag...

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    • 3 Beds
    • 3 Baths
    • 927428 MLS
    Courtesy of Pemberton Holmes Ltd. - Oak Bay

    Courtesy of Pemberton Holmes Ltd. - Oak Bay

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    3065 Irma  St, Victoria image
    3065 Irma St, Victoria $1,079,900

    On a tree lined street, in a great neighbourhood, you’ll find this mid century charmer. Well maintained throughout the years, this home features 3 bdrms on the main, glea...

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    • 4 Beds
    • 2 Baths
    • 927414 MLS
    Courtesy of Pemberton Holmes Ltd. - Oak Bay

    Courtesy of Pemberton Holmes Ltd. - Oak Bay

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    2517 Amherst  Ave, Sidney image
    2517 Amherst Ave, Sidney $4,395,000

    SIDNEY WATERFRONT! Custom-built 4BD/3BA, 3,322sf home looks out over Roberts Bay with Gulf Islands & Mt. Baker as a backdrop. Expansive ocean, island views can be enjoyed...

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    • 4 Beds
    • 3 Baths
    • 927573 MLS
    Courtesy of Newport Realty Ltd. - Sidney

    Courtesy of Newport Realty Ltd. - Sidney

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    1255 Wain  Rd Unit #37, North Saanich image
    1255 Wain Rd Unit #37, North Saanich — Eagle Ridge $998,000

    Eagle Ridge Estates welcomes you to the most desirable living in North Saanich. This lovely townhome is tucked away in private forested ALR complex yet offers a bright op...

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    • 2 Beds
    • 3 Baths
    • 927594 MLS
    • Eagle Ridge Bldg.
    Courtesy of DFH Real Estate - Sidney

    Courtesy of DFH Real Estate - Sidney

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    160 Wilson  St Unit #604, Victoria image
    160 Wilson St Unit #604, Victoria — Parc Residences $599,000

    Location, location, location! Check out this bright & thoughtfully laid out 696sq ft 1 bed + DEN/1 bath in the heart of it all! Enjoy the floor to ceiling windows in this...

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    • 2 Beds
    • 1 Baths
    • 927560 MLS
    • Parc Residences Bldg.
    Courtesy of eXp Realty

    Courtesy of eXp Realty

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    428 Powell  St, Victoria image
    428 Powell St, Victoria $799,000

    One freshly subdivided building lot of a four lot subdivision, located in amenity rich James Bay village with building plans in place designed by Arcata Architecture (See...

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    • 927492 MLS
    Courtesy of Coldwell Banker Oceanside Real Estate

    Courtesy of Coldwell Banker Oceanside Real Estate

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    3248/3250 Cook  St, Saanich image
    3248/3250 Cook St, Saanich $1,249,000

    Opportunity awaits with this side by side Maplewood, legal duplex, boasting 3 separate living spaces (and the potential for a 4th!). With excellent revenue potential this...

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    • 6 Beds
    • 3 Baths
    • 927443 MLS
    Courtesy of Engel & Volkers Vancouver Island

    Courtesy of Engel & Volkers Vancouver Island

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    627 Downey  Rd, North Saanich image
    627 Downey Rd, North Saanich $1,599,000

    O.H. Sat. Apr.1 - 1-3 pm. Stunning Deep Cove home situated on a south facing lot w distant ocean views. The chef’s kitchen has a spacious eat in area, ample cupboard & co...

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    • 5 Beds
    • 4 Baths
    • 927637 MLS
    Courtesy of Holmes Realty Ltd

    Courtesy of Holmes Realty Ltd

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    660 Millstream Lake  Rd, Highlands image
    660 Millstream Lake Rd, Highlands $849,800

    Beautiful 1.24acre property located in the Highlands and only 10 minutes to Costco and Millstream Market. The residence was originally a 1989 manufactured home that was c...

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    • 3 Beds
    • 2 Baths
    • 927613 MLS
    Courtesy of RE/MAX Camosun

    Courtesy of RE/MAX Camosun

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    “NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate. By registering on this website I/We consent to the collection, use and disclosure of personal information as described in our privacy policy.
    The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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