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June 2020

Found 11 blog entries for June 2020.

Highlands masterpiece set on a flat expansive bright 4.62-acre property

   

Highlands masterpiece set on a flat expansive bright 4.62-acre property.  

Set back from the road for ultimate privacy this meticulous build, completed in 2018, offers a grand main house, separate two-car garage, and a huge shop with an unfinished two-bedroom suite above.  

As you enter the main house you are greeted with soaring 20-foot ceilings in a beautiful, spacious (over 2600 square foot) open floor plan.  

The family and living room are complete with high end engineered hardwood floors, a beautiful gas fireplace, and a catwalk above as a visual architectural enrichment.  

The kitchen is an absolute delight with granite heated countertops, induction

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Executive Lakefront Family Home

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Welcome to 1221 Goldstream Ave, an executive lakefront property situated on a quiet no through road on Langford Lake.

The 3 Storey 3600 Sq.Ft Waterfront Dream Home boasts 5 bed + Den, 4 Bath, and a ton of special features.

From the moment you enter the home, you'll be impressed with the abundance of space, open layout, and clean sightlines to the huge south facing decks and backyard.

The bright chef's kitchen could use some updating but has a ton of counter space and storage with island bar and breakfast nook.

The large living room and dining room on either side with a huge patio connecting them all boast beautiful south views of the lake and professionally landscaped lakefront yard W/ boat

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Canadian Retail Sales (April) - June 19, 2020

Seasonally-adjusted Canadian retail sales fell by a staggering 26% in April to $35 billion. The largest drop since the data became available in 1991. About one-third of retailers were closed in April, while in the clothing subsector it was 70%. Sales were down in all subsectors for the first time since 1993, led by auto dealers (-44%), gas stations (-32%), and food and beverage stores (-13%). 

Sales were down in all provinces for the second consecutive month in April, leading the decline were Ontario (-33%) and Quebec (-28%). In BC, seasonally-adjusted retail sales were down by 21% at $5.6 billion, while Vancouver sales were down by 24%. All subsectors were hit hard with the largest monthly

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Canadian Inflation (May) -June 17, 2020

Canadian inflation, as measured by the Consumer Price Index (CPI) fell by 0.4 percent in May year-over-year. This was the second consecutive month of decline in the CPI since the summer of 2009. Transportation prices were the main drag on inflation due to lower gas prices compared to the same time last year. Rents also declined for the second consecutive month, as physical distancing measures and high unemployment dampened demand, while the conversion of short-term rentals to long-term rentals increased supply. Mortgage interest costs also declined as banks lowered rates in tandem with falling bond yields and a lower Bank of Canada policy rate. In contrast, food prices continued to increase in

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Watch BCREA Chief Economist Brendon Ogmundson discuss the May 2020 statistics.

Click here to visit BCREA's YouTube channel. Read the news release here.

 

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 

The Housing Market Update video webcast is produced monthly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: "Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information.

 BCREA is the

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8+ Acres of Awe-Inspiring Panoramic Views

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Awe-inspiring, panoramic views stretching from NE to S of the North Shore and Cascade mountains of Metro Vancouver & the Fraser Valley/Washington State all the way to Greater Victoria and the Olympic Peninsula beyond.

Be enchanted by the beauty of the BC southern gulf islands and US San Juan islands spread out below your feet with the majestic Mt Baker and Mt Rainier anchoring the horizon.

A social distancing dream! 8 acre plus view estate lot at the very end of several km of private roads in the coveted Mt Tuam subdivision. 

The driveway is literally the end of Annas Drive, right next door to the nearly 1000 acre Mt Tuam ecological reserve with only one neighbouring lot in

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Adorable Home in Saanich West 

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Cute and adorable home in Saanich West. 

Character home with lots of upgrades on a large flat lot at the end of a quiet cul-de-sac yet only minutes to everything including downtown Victoria and Uptown shopping centre. 

The main floor features a cozy family room, an updated kitchen redone in 2018, two generous sized bedrooms, a four-piece bath, and a small sunroom area. 

The whole upper floor features a private master retreat with hardwood floors and vaulted ceilings showcasing a large glass peaked wall overlooking the mountains and city beyond. 

The master suite also offers an office, den area, and four-piece bath; a great floorplan for ultimate privacy and enjoyment. 

Downstairs you will find

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Canadian Housing Starts (May) - June 8, 2020

Canadian housing starts rebounded by 16.2% m/m to 193,453 units in May at a seasonally adjusted annual rate (SAAR). Notably, Quebec was not included in last month's numbers, as the province shut down its construction sector due to the pandemic. Outside of Quebec, housing starts decreased in May. The trend in national housing starts fell to an average of 197,000 units SAAR over the past six months. 

In BC, housing starts rose by 29% m/m to 38,043 units SAAR, following a 14% fall in the previous month. The increase was entirely driven by multi-units (42%), while singles decreased (-5%). Although housing starts in BC have been trending downwards since last summer, they are still not at levels seen

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Following significant declines in sales activity beginning in mid-March, sales activity has been on the increase since mid-April. The pent up demand became apparent in the Victoria Real Estate Market as total sales volume increased by 59.2% in May 2020 from April. Still well below normal levels, there were only 457 properties sold in May, 46.1% less than the same month the previous year. As the Realtors find ways to provide services safely and the public feel increasingly comfortable to venture out, sales activity is returning to a new normal. There were 254 single family units sold and 108 condo units (down 55.7% and 42.9% respectively from the previous year).

While board-wide sales were down, our The Neal Estate Team sales partners outpaced the

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The Vancouver Island Real Estate Board saw a surge in sales as restrictions eased in May 2020. While not back to pre-COVID numbers, the board had a 23.1% increase in single-family home sales compared to April reaching 246 sales (still down 46% from May 2019). Condo sales were up 61.3% from April with 44 units sold, 56% down from the previous year. Although sales volume was down across the board, The Neal Estate Team, thanks to our Coming Soon Program, outpaced the market and actually increased our number of sales from the same month last year.

The number of active single-family home listings on the market at the end of May 2020 was 14% lower than May 2019 with 1,282 homes available. Condo inventory on the other was up 21% compared to last year with 410

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