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        <atom:link href="http://www.ronneal.com/blog/2020-08/rss/" rel="self" type="application/rss+xml" />
        <title>Victoria &amp; Vancouver Island Real Estate Blog</title>
        <link>http://www.ronneal.com/blog/2020-08/</link>
        <description></description>
<item>
    <guid>https://www.ronneal.com/blog/coming-soon-hilda-st-victoria-bc-425000.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-hilda-st-victoria-bc-425000.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Hilda St, Victoria, BC $425,000</title>
    <description> <![CDATA[ 
Stunning Corner Unit in Highly Desirable Cook Street Village










Welcome to 310 - 1101 Hilda street, a stunning southeast corner unit condo in highly desirable Cook Street Village. nbsp;


With well over 1000 square feet you will enjoy a spacious family room with a cozy fireplace and loads of natural light that lead out to your private enclosed balcony. 


Perfect for gardening, especially tropicals, or painting, yoga, or even a cozy place to enjoy a morning coffee while you take in the large swaying trees that create a canopy in the summer while allowing loads of light in the winter. nbsp;


Another deck is also off the great room if you prefer an open air space and looks out to the quiet peacefulnbsp;neighborhood below. nbsp;


The tastefully updated kitchen has a window to the dining area to create a socially pleasing environment to cook in. nbsp;


Gleaming engineered hardwood throughout, even in the enclosed patio, lead you to two spacious bedrooms, the master features a large walk-through closet with built-in cabinetry that takes you to the ensuite bathroom. nbsp;


The guest bathroom is stunning with a glassnbsp;basin sink, tub, and shower. Located only minutes to restaurants, cafes, groceries, Beacon Hill Park, Dallas Road waterfront, and the shores ofnbsp;the Juan de Fuca Strait with the Olympic Mountains as a breathtaking backdrop. 


On major bus routes and easily accessible by foot isnbsp;everything downtown Victoria has to offer. nbsp;


This meticulously maintained well-run building includes parking, storage, a workshop, bike storage, and a meeting room. nbsp;


Call for your private tour of 310 1101 Hilda street today.




Find Out More Aboutnbsp;310-1101 Hilda St

Talk to our team to learn more about thisnbsp;Stunning Southeast Corner Unit Condo

Request a Tour


 ]]> </description>
    <pubDate>Fri, 28 Aug 2020 08:15:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/coming-soon-fairfield-rd-victoria-bc-489900.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-fairfield-rd-victoria-bc-489900.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Fairfield Rd, Victoria, BC $489,900</title>
    <description> <![CDATA[ 
Top Floor South East Corner Unit Located Between Cook Street Village and the Inner Harbour













Welcome to 403nbsp;935 Fairfield Roadnbsp;a top floor South East quiet corner condo conveniently located between Cook Street Village and the Inner Harbour. 


Arguably the best unit in the building with soaring views of spectacular sun rises and sun sets, city horizon, ocean glimpses and mountains beyond.nbsp;


This spacious condo boasts over 1100 square feet and has loads of natural light and offers complete privacy as the landscape beyond creates a green canvas free from windows and buildings looking in on you.nbsp;


In an adult oriented building this condo is in immaculate condition and updated with extra built in custom designed cabinetry, with updated appliances and new windows.nbsp;


Huge great living room leads to a charming, enclosed deck; the perfect spot to bask in the sun or enjoy a morning coffee.nbsp;


Adorable kitchen, two oversized very large bedrooms and two bathrooms complete your next condo.nbsp;


Secure underground parking, storage space, steps to all amenities and on major bus routes.nbsp;


Call today for your private tour.


nbsp;


nbsp;


nbsp;


nbsp;


nbsp;


nbsp;


nbsp;




Find Out More Aboutnbsp;403-935 Fairfield Rd

Talk to our team to learn more about thisnbsp;top floor South East quiet corner condo conveniently located between Cook Street Village and the Inner Harbour.

Request a Tour


 ]]> </description>
    <pubDate>Wed, 26 Aug 2020 03:33:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/canadian-retail-sales-june-august-21-2020.html</guid>
    <link>https://www.ronneal.com/blog/canadian-retail-sales-june-august-21-2020.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Canadian Retail Sales (June) - August 21, 2020</title>
    <description> <![CDATA[ 









nbsp;


Canadian Retail Sales (June) - August 21, 2020


Another good news report. Retail sales were up for a second consecutive month in June by 24 on a seasonally-adjusted basis, this follows a 21 rise in May. Sales were up in all subsectors, with growth primarily led by motor vehicle and parts dealers, as well as clothing. Retail sales in June were 1.3 higher than pre-pandemic levels in February. The June report puts second-quarter retail sales at 13 below the first-quarter report. nbsp; nbsp;Sales were up in all provinces in June, the most notable increases were in Ontario (34), Quebec (24), Nova Scotia (23) and Alberta (19). In BC, seasonally-adjusted retail sales were up by 13 ($7.4 billion) and by 18 ($3.4 billion) in Vancouver. Retail sales were up in the majority of subsectors in BC, with the largest gains reported in a motor vehicle and parts dealers, and at clothing stores. This comes on the heels of pent-up demand following closures at dealerships and at brick and mortar stores during the spring months.nbsp;Growth in e-commerce sales slowed in June, up by 71 year-over-year, following a 113 rise in the previous month. In June, e-commerce sales totaled $3.2 billion, accounting for 5 of total retails sales, down from 8 in May. This excludes Canadians purchasing from foreign e-commerce retailers. nbsp;nbsp; nbsp;nbsp;Advance estimates provided by Statistics Canada for July suggest that retail sales increased by 0.7. There has been some concern over what would happen once government support programs ended, but the federal governments announcement yesterday on extending CERB for another four weeks, and the transition to a restructured EI program has helped to lessen this concern, for now.


For more information, please contact:






Brendon OgmundsonChief Economist604.742.2796bogmundson@bcrea.bc.canbsp;


Kellie FongEconomist778.357.0831kfong@bcrea.bc.canbsp;






BCREAnbsp;is the professional association for more than 23,000 REALTORSreg; in BC, focusing on provincial issues that impact real estate. Working with the provincersquo;snbsp;11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORSreg; provide value for their clients.To demonstrate the professions commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.




Talk to our team to learn more


Learn More


 ]]> </description>
    <pubDate>Sat, 22 Aug 2020 01:25:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/coming-soon-harrow-gate-victoria-bc-525000.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-harrow-gate-victoria-bc-525000.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Harrow Gate, Victoria, BC $525,000</title>
    <description> <![CDATA[ 
The Perfect 3 Bed 3 Bath at The Gates on The Beautiful Bear Mountain Resort Community










Welcome to The Gates a townhouse complex on the Beautiful Bear Mountain Resort Community. nbsp;


The perfect layout for ease of life this three bed three bath townhouse with an extra-large driveway, two-car garage, and a private sun-drenched back yard is perfect for a family, retirement, or even an income-producing property. nbsp;


Surrounded by million-dollar homes you wont find a smarter purchase. nbsp;


Master on the main with four piece ensuite and walk-in closet, open concept kitchen, and dining room leads out to your level entry patio doors and yard. nbsp;A second bathroom and laundry on the main. nbsp;


Up you will find two additional very large bedrooms, ample extra storage, and another four-piece bath. nbsp;


Bear Mountain offers a vacation lifestyle with two Jack Nicklaus golf courses, an indoor tennis club, mountain bike park and club,nbsp;Westin Hotel, the rec center w/ pool amp; gym,nbsp;restaurants, and more. nbsp;


Rentals, children, and some pets allowed, on major bus routes andnbsp;close to the big box stores this is a rare opportunity at an amazing price, callnbsp;the Neal Estate Team for your private tour.




Find Out More Aboutnbsp;118 - 2120 Harrow Gate

Talk to our team to learn more about thisnbsp;townhouse complex

Request a Tour


 ]]> </description>
    <pubDate>Fri, 21 Aug 2020 09:47:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/coming-soon-duggan-pl-victoria-bc-984900.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-duggan-pl-victoria-bc-984900.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Duggan Pl, Victoria, BC  $984,900 </title>
    <description> <![CDATA[ 
Executive Rancher in Hanington Creek Estates










Welcome to Hanington Creek Estates 


This 2007 built 3 bed, 3 bath home is located in a park-like setting with creeks, trees, and the peace and quiet of nature right at your doorstep. yet close to all the amenities of the big box stores and great restaurants.nbsp; nbsp;


Main level living with a well thought out open concept floorplan is great for entertaining and sits on a very large lot with ample sunshine and a private patio for those upcoming warm summer night gatherings.


This home has two large-sized bedrooms up plus a HUGE master bedroom with 4 piece ensuite and walk-in closet.nbsp; nbsp;


A double garage, interlocking driveway pavers, fenced and level yards plus a 3 ft crawlspace for any additional storage needs.


This home has it all, on a quiet no-thru street and is priced to sell.nbsp;nbsp;nbsp;


nbsp;


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Find Out More Aboutnbsp;2006 Duggan Place

Talk to our team to learn more about thisnbsp;2007 built 3bed, 3bath home is located in a park-like setting with creeks

Request a Tour


 ]]> </description>
    <pubDate>Thu, 20 Aug 2020 06:25:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/statistics-release-2020-07.html</guid>
    <link>https://www.ronneal.com/blog/statistics-release-2020-07.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Statistics Release - 2020-07</title>
    <description> <![CDATA[ 



Strong Recovery Continues for BC Housing Markets





nbsp;


Vancouver, BC ndash; August 13, 2020.nbsp;The British Columbia Real Estate Association (BCREA) reports that a total of 10,090 residential unit sales were recorded by the Multiple Listing Servicereg;nbsp;(MLSreg;) in July 2020, an increase of 26.6 percent from July 2019. The average MLSreg;nbsp;residential price in BC was $770,810, a 12.9 percent increase from $682,702 recorded the previous year. Total sales dollar volume in July was $7.8 billion, a 43 percent increase over 2019.


ldquo;The strong recovery in sales activity continued in July,rdquo; said BCREA Chief Economist Brendon Ogmundson. ldquo;Increased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices, particularly in the market for single-family homes.rdquo;Active listings remain down significantly year-over-year, creating upward pressure on prices, though increased demand for single-family homes has somewhat skewed average prices in some markets.Year-to-date, BC residential sales dollar volume was up 8.4 percent to $32.5 billion, compared with the same period in 2019. Residential unit sales were down 1.4 percent to 43,718 units, while the average MLSreg;nbsp;residential price was up 10 percent to $754,842.





For more information, please contact:nbsp;nbsp;






Brendon OgmundsonChief Economist604.742.2796bogmundson@bcrea.bc.canbsp;


nbsp;






BCREAnbsp;is the professional association for more than 23,000 REALTORSreg; in BC, focusing on provincial issues that impact real estate. Working with the provincersquo;snbsp;11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORSreg; provide value for their clients.To demonstrate the professions commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.




Talk to our team to learn more


Learn more


 ]]> </description>
    <pubDate>Thu, 13 Aug 2020 09:17:59 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/canadian-housing-starts-july-august-11-2020.html</guid>
    <link>https://www.ronneal.com/blog/canadian-housing-starts-july-august-11-2020.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Canadian Housing Starts (July) - August 11, 2020</title>
    <description> <![CDATA[ 






nbsp;


Canadian Housing Starts (July) - August 11, 2020


Canadian housing starts increased by 16 m/m to 245,604 units in July at a seasonally adjusted annual rate (SAAR), which wasnbsp;well above pre-COVID levels. This brought up the national housing starts six-month averagenbsp;to 204,376 units SAAR. Housing starts were up across the country with notable growthnbsp;in the Prairies and Atlantic Canada. nbsp;In BC, housing starts were up 9 m/m to 42,381 units SAAR in July, following an increase of 38,840 in June. The increase was primarily driven by the multi-unit segment. Housing starts in July are back at pre-COVID levels. That being said, housing starts in the province showed resilience during the height of the pandemic when restrictions were the tightest. In the near term, we can expect housing activity to continue to be supported by pent-up demand and historically low borrowing rates. Compared to the same time last year, housing starts are down by 16. Meanwhile, the value of residential building permits for June was up by 20 in the province. nbsp;Looking at census metropolitan areas in BC:nbsp;Housing starts in Vancouver were up by 4 m/m in July to 24,395 units SAAR. Multi-units were up by 5, while singles were down by 4. Compared to last year in July, housing starts were down by 23, which marks the fourth consecutive month of negative year-over-year growth. nbsp;In Victoria, housing starts were up by 77 m/m to 4,161 units SAAR. Compared to a year ago in July, housing starts were up by 14. nbsp;In Kelowna, housing starts increased by 21 m/m to 3,457 unit SAAR. Starts were up by 138 in the region compared to the same time last year.nbsp;Monthly housing starts in Abbotsford-Mission were down by 18 at 479 units SAAR. Compared to the same time last year, new home construction was down by 84.


For more information, please contact:






Brendon OgmundsonChief Economist604.742.2796bogmundson@bcrea.bc.canbsp;


Kellie FongEconomist778.357.0831kfong@bcrea.bc.canbsp;






BCREAnbsp;is the professional association for more than 23,000 REALTORSreg; in BC, focusing on provincial issues that impact real estate. Working with the provincersquo;snbsp;11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORSreg; provide value for their clients.To demonstrate the professions commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.




Talk to our team to learn more


Learn More


 ]]> </description>
    <pubDate>Tue, 11 Aug 2020 15:05:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/the-neal-estate-teams-real-estate-market-update-for-vancouver-island-for-august.html</guid>
    <link>https://www.ronneal.com/blog/the-neal-estate-teams-real-estate-market-update-for-vancouver-island-for-august.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>The Neal Estate Teams Real Estate Market Update for Vancouver Island for August 2020</title>
    <description> <![CDATA[ 
Single family home sales returned to near-normal levels this July with 574 sales, only 1 unit sale over June 2020, and 20 sales over July the previous year. Condos on the other hand still struggle as buyers seem to look to get out of multi-family building situations. July saw a 14 decrease in condo sales compared to the same month last year and townhouse sales decreased by 16. All together sales were down 4 year over year with a grand total of 892 properties sold.


While sales levels begin to return to normal, inventory is still low (on a provincial level). The pressure from low inventory and returning demand from buyers has led to an increase in price across many market areas including Vancouver Island. The board-wide benchmark price for single family homes rose 6 year over year and 2 from the previous month to $545,700. Benchmark values for condos hit $312,800 up 4 from the previous year and slightly from the previous month.


Here is a breakdown of regional benchmark values and how they have changed year over year:






Campbell River


$456,000


+5




Comox Valley


$557,500


+8




Duncan


$500,200


+6




Nanaimo


$593,600


+7




Parksville-Qualicum


$604,900


+2




Port Alberni


$342,700


+7




Victoria


$910,000


+5.7






Despite all these numbers, it remains hard to determine any solid future prediction. Much of the activity can still be attributed to ldquo;pent up demandrdquo; from a slower spring market. If activity continues to be at these levels (or anywhere near it) we will know that low lending rates are having a major effect on the market. The single family home market specifically cannot likely sustain this level of activity so if you are considering selling your home, today is the best day (although demand may continue in this segment as buyers look to get out of multifamily buildings in our COVID era). As we move into Fall we will continue to see what this new un-normal normal really is but for now, it is a tremendous time to sell your home.


If you are considering Buying or Selling, and wand to find out how we are outpacing the market, please clicknbsp;Herenbsp;to contact us for a FREE consultation. Ask us about featuring your home onnbsp;VictoriaComingSoonListings.comnbsp;to ensure the best results and we hit the ground running together as we get to the other side of this.


Thank you for your trust in us as we navigate these challenging circumstances together.


The Neal Estate Team


Your Victoria amp; Vancouver Island Real Estate Experts


ldquo;Go with those who knowrdquo;www.RonNeal.comwww.HomesOnVancouverIsland.ca
 ]]> </description>
    <pubDate>Mon, 10 Aug 2020 10:02:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/the-neal-estate-teams-victoria-real-estate-update-for-august.html</guid>
    <link>https://www.ronneal.com/blog/the-neal-estate-teams-victoria-real-estate-update-for-august.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>The Neal Estate Teams Victoria Real Estate Update for August 2020</title>
    <description> <![CDATA[ 



July 2020 continued to be unusually active in the Victoria Real Estate market, especially in the single family home segment. Sales of single family homes were up a whopping 61.1 compared to July last year while condos sales also rose by 11.2 in the same year over year comparison. There were 979 total board-wide (559 SFD, 239 condos) sales in July, altogether up 21.2 over June 2020 and 38.7 up from last year. These are some very big numbers for the month and if nothing else, great indicators that this is not a normal market.


The increase in activity also saw many new listings coming on to the market but not enough to outpace the number of sales. July saw a 10 decrease in available listings year over year and a 1.7 decrease compared to June 2020 with 2,653 active listings at the end of the month. It is also worth noting that much of the decrease in inventory was in the single-family dwelling segment as many of the new listings of that type sold quickly and often in multiple offers.


Basic economics tells us that price will rise when supply is low and demand is high, so it is no surprise that benchmark values rose across the board. Single family homes again outpaced condos, increasing 5.7 year over year and 1.6 from the previous month to hit a benchmark price of $910,000. Condos, less effect on the supply side and on the demand side, rose only 1.7 year over year and 0.8 from the previous month to hit $525,900.


Low inventory has been an ongoing problem for those hoping for more of a buyers market and inventory levels are often slow to change. The average inventory over the past 10 years is 3,767 available listings and we are now more than 1,000 listings below that and now under 3 months supply.


Despite all these numbers, it remains hard to determine any solid future prediction. Much of the activity can still be attributed to ldquo;pent up demandrdquo; from a slower spring market. If activity continues to be at these levels (or anywhere near it) we will know that low lending rates are having a major effect on the market. The single family home market specifically cannot likely sustain this level of activity so if you are considering selling your home, today is the best day (although demand may continue in this segment as buyers look to get out of multifamily buildings in our COVID era). As we move into Fall we will continue to see what this new un-normal normal really is but for now, it is a tremendous time to sell your home.


If you would like to know how we are beating the market and helping our clients win, please click Here for a FREE consultation. Ask us about featuring your home on VictoriaComingSoonListings.com to ensure the best results and we hit the ground running together as we get to the other side of this.


Stay safe,


The Neal Estate TeamYour Victoria amp; Vancouver Island Real Estate Expertsldquo;Let our experience be your guidewww.RonNeal.comwww.HomesOnVancouverIsland.ca
 ]]> </description>
    <pubDate>Sun, 09 Aug 2020 16:20:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/canadian-employment-july-august-7-2020.html</guid>
    <link>https://www.ronneal.com/blog/canadian-employment-july-august-7-2020.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Canadian Employment (July) - August 7, 2020</title>
    <description> <![CDATA[ 









nbsp;


Canadian Employment (July) - August 7, 2020


Canadian employment grew by 419,000 jobs in July (2.4, m/m). Combined with gains in May of 290,000 and gains in June of 953,000, this brought national employment to within 1.3 million of the pre-COVID February level. The national unemployment rate fell by 1.4 percentage points to 10.9 per cent from the previous month. Most of the employment gains in July were in part-time work. Compared to the same month last year, Canadian employment was down by 6.3 (-1.2 million).nbsp;Regionally, all provinces reported an increase in employment except New Brunswick, where employment was little changed. The strongest gains were in Ontario which were almost all in part-time work, reflecting the later easing of COVID-related measures compared with other provinces. In July, employment continued to rise faster among women than men, but on a cumulative basis, men are closer to being back at pre-COVID levels than women.nbsp;To address gaps in the understanding of the impact of the pandemic on certain visible communities, Statistics Canada has enhanced their employment survey. Of note, Statistics Canada found that compared to the same time last year, South Asians and Chinese Canadians experienced the highest increases in unemployment related to the pandemic,nbsp;in part attributable to their greater concentration in some of the industries hardest hit by COVID-19 restrictions. Meanwhile,nbsp;unemployment rates were lower for Black Canadians and Filipino Canadians, where many work in health care and social assistance industries.nbsp;Employment in BC grew by 70,000 jobs (3, m/m) in July, reaching almost 94 of the February employment level. This followed job gains of 118,100 in June and 43,000 in May. Julys employment gain brought down the unemployment rate by 1.9 percentage points to 11 per cent. In Vancouver, employment increased by 48,000 jobs to reach almost 90 of the February level. Compared to one year ago, employment in BC was down by 7.5 (-192,000) jobs.nbsp;This was another good news report. However, gains in July were lower than in June, reflecting reopening measures that began in June where employment growth wasnbsp;coming back from very low levels. We can expect that recovery will be slower from here on, as many of the hardest hit industries have reopened and will continue to maintain physical distancing measures. Also important are consumers demand for goods and services, which is expected to be hampered by the still 165,000 unemployed individuals in BC since February, and the winding down of government support programs.nbsp;


For more information, please contact:






Brendon OgmundsonChief Economist604.742.2796bogmundson@bcrea.bc.canbsp;


Kellie FongEconomist778.357.0831kfong@bcrea.bc.canbsp;






BCREAnbsp;is the professional association for more than 23,000 REALTORSreg; in BC, focusing on provincial issues that impact real estate. Working with the provincersquo;snbsp;11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORSreg; provide value for their clients.To demonstrate the professions commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.




Talk to our team to learn more


Learn More


 ]]> </description>
    <pubDate>Sat, 08 Aug 2020 01:48:00 -0500</pubDate>
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