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        <title>Victoria &amp; Vancouver Island Real Estate Blog</title>
        <link>http://www.ronneal.com/blog/2021-02/</link>
        <description></description>
<item>
    <guid>https://www.ronneal.com/blog/covid-19-recovery-dashboard-feb-24-2021.html</guid>
    <link>https://www.ronneal.com/blog/covid-19-recovery-dashboard-feb-24-2021.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>COVID-19 Recovery Dashboard - Feb 24, 2021</title>
    <description> <![CDATA[ 






nbsp;


This monthrsquo;s COVID-19 Recovery Dashboard shows that home sales once again set a record. While sales were strong across the province, the Fraser Valley, Thompson Okanagan, and Vancouver Island regions shattered previous sales records and pushed January sales to new heights. The rise in COVID-19 cases and enhanced health restrictions have slowed employment recovery in select sectors, particularly in hospitality. Meanwhile, the number of people employed in higher-wage positions continues to increase, encouraging housing demand. Manufacturing and trade are back to pre-pandemic levels, which bodes well for BCs economic growth going forward. For a more comprehensive overview of BCs economic recovery, clicknbsp;here.nbsp;


About BCREArsquo;s COVID-19 Recovery DashboardThe BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORSreg; monitor BCrsquo;s economic recovery. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic, including:




Housing Markets


Retail, Restaurant Reservations and Movement


Jobs and Hours Worked


Manufacturing and International Trade


Business and Consumer Confidences


Tourism




To monitor the provincersquo;s progress, we benchmark each indicator to February 2020, the month before the pandemic was declared. This dashboard is updated each month.BCREAs updated COVID-19 Recovery Dashboard is availablenbsp;here.


For more information, please contact:






Kellie FongEconomist778.357.0831kfong@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




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 ]]> </description>
    <pubDate>Thu, 25 Feb 2021 10:07:00 -0600</pubDate>
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    <guid>https://www.ronneal.com/blog/coming-soon-rockland-ave-victoria-bc-525000.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-rockland-ave-victoria-bc-525000.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Rockland Ave, Victoria, BC $500,000</title>
    <description> <![CDATA[ 
Highly desirable Chateauneuf building










Welcome to 306 - 1149 Rockland a large two bedrooms two bathroom suite found at the back of the building for maximum privacy.nbsp;


The highly desirable Chateauneuf building is located in the charming Rockland/Cook street village and is surrounded by mature gardens and stunning grounds.nbsp;


This home is move-in ready and freshly painted or a Buyer could update further with this home priced below assessed value.nbsp;


Two balconies to take advantage of the sun all day long and large windows creating loads of light.nbsp;


A desirable floor plan with the bedrooms separated and an open floor plan with a large family room, separate dining room, and galley kitchen.nbsp;


In-suite laundry, separate storage, parking included bike storage, fitness center, rooftop view deck, workshop, and a rec room to host events.nbsp;


Bring your pets and take a quick stroll to downtown Victoria or the Dallas waterfront.


Call today for a private tour.


nbsp;




Find Out More Aboutnbsp;306-1149 Rockland Avenue

Talk to our team to learn more about this Highly desirable Chateauneuf building

Request a Tour


 ]]> </description>
    <pubDate>Wed, 24 Feb 2021 18:09:00 -0600</pubDate>
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    <guid>https://www.ronneal.com/blog/coming-soon-sandalwood-ct-victoria-bc-989000.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-sandalwood-ct-victoria-bc-989000.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Sandalwood Ct, Victoria, BC $989,000</title>
    <description> <![CDATA[ 
Large 5 bedroom home with a 2 bedroom suite on a generous sized lot in the Westshore










Welcome to 1014 Sandalwood Court, a five-bedroom plus den home in the Westshore including a two-bedroom suite for added income.nbsp;


South facing with loads of parking on a family-friendly street.nbsp;


The hub of the home features a large great room with vaulted ceilings and a cozy fireplace, with an open concept design to the dining room.nbsp;


Also attached is a spacious kitchen including ample cabinetry and countertop space as well as an island perfect for entertaining and stainless steel appliances.nbsp;


Off of the kitchen and dining room is a private deck overlooking your completely fenced back yard big enough for gardening, trampoline, and the kids or Fido to play.


Also on the main is a four-piece bath, two bedrooms, and the master with its own four-piece bath, Down you will find a tiled private entry, spacious den, walk-in laundry room, and a two-car garage.nbsp;


Enter through the main home or via the separate entrance into the two-bedroom suite complete with its own laundry.nbsp;


Currently tenanted up and down on month-to-month tenancies, both tenants would like to stay but ready for owner occupancy if desired.nbsp;


Great revenue property or family home in a fantastic area.nbsp;


Call today for your private tour today.


nbsp;




Find Out More Aboutnbsp;1014 Sandalwood Court

Talk to our team to learn more about thisnbsp;large 5 bedroom home with a 2 bedroom suite on a generous sized lot in the Westshore

Request a Tour


 ]]> </description>
    <pubDate>Mon, 22 Feb 2021 18:19:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/canadian-retail-sales-dec-february-19-2021.html</guid>
    <link>https://www.ronneal.com/blog/canadian-retail-sales-dec-february-19-2021.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Canadian Retail Sales (Dec) - February 19, 2021</title>
    <description> <![CDATA[ 









nbsp;


Canadian Inflation (Nov) - December 15, 2020


Canadian retail sales fell in December by 3.4 m/m on a seasonally-adjusted basis. This is the first decline since April 2020. Sales were down in 9 of 11 subsectors, representing 84 of retail sales. Compared to the same time last year, retail sales were up by 3.3. nbsp;nbsp;nbsp;Sales were down in all provinces for the first time since April 2020. In BC, seasonally-adjusted retail sales fell by 2.2 ($7.9 billion) and by 2.1 ($3.5 billion) in Vancouver. Contributing the most to the decline were sales at auto dealers. Compared to the same time last year, BC retail sales were up by 8.9. nbsp;nbsp;In December, Canadian e-commerce sales totaled $4.7 billion, reaching a record high and accounted for 7.8 of total sales. E-commerce sales were up by 69 from a year ago. This excludes Canadians purchasing from foreign e-commerce retailers. nbsp;nbsp; nbsp;nbsp;Decembers results were lower than estimated by Statistics Canada, but not a surprise. The reintroduction of provincial health restrictions led about 15 of surveyed businesses to close in December. Also, consumers likely pulled forward their purchases to November in anticipation of the holiday rush, as well as promotional events such as Black Friday. Growth in retail sales is expected to be weak until the vaccine becomes more widely available.nbsp;Link:nbsp;https://mailchi.mp/bcrea/canadian-retail-sales-dec-february-19-2021


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>Fri, 19 Feb 2021 17:46:00 -0600</pubDate>
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<item>
    <guid>https://www.ronneal.com/blog/coming-soon-springridge-cres-victoria-bc-1198000.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-springridge-cres-victoria-bc-1198000.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Springridge Cres, Victoria, BC $1,198,000</title>
    <description> <![CDATA[ 
Investors? Meticulously maintained, updated, and upgraded top to bottom Saanich home















Attention Investors Excellent revenue, tenants wish to stay. Rented up, down and garage.


Will also suit buyers from out of townnbsp;not wanting immediate possession.


Need space for home business, hobbies, entertaining, extended family, and more?


Look no farther, the needle in the haystack has arrived in this meticulously maintained, updated, and upgraded top to bottom Saanich home.


The opportunities are endless: fully furnished Airbnb, home-based business, two-bedroom suite, main with deluxe master suite, separate dressing room, office and gym or guest room, with much versatility as they can be separated into a number of different spaces offering complete flexibility.


Whether yoursquo;re a business owner, car enthusiast, active empty nester, or a multigenerational family this home will check your boxes


The main home features hardwood floors, quartz countertops, coved ceilings, stainless appliances, updated lighting, a gas fireplace, and complete privacy.


An entertainers outdoor living space in the back yard providing complete privacy with a massive sun-drenched deck and hot tub.


Theres also a large Harley-themed heated shop with oversized doors.


Parking for boats, RVrsquo;s, and 15 of your closest friends, this home is one of a kind and priced well below cost.


There is even a large lighted cherry blossom tree out front like the bow on a perfect package.


The current owners know they have overspent on their labour of love that they have enjoyed for the last 15 years and look forward to providing the same opportunity to YOU.


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Find Out More Aboutnbsp;4221 Springridge Crescent

Talk to our team to learn more about this Meticulously maintained, updated, and upgraded top to bottom Saanich home.

Request a Tour


 ]]> </description>
    <pubDate>Thu, 18 Feb 2021 17:40:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/coming-soon-govenlock-pl-sooke-bc-725000.html</guid>
    <link>https://www.ronneal.com/blog/coming-soon-govenlock-pl-sooke-bc-725000.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Coming Soon: Govenlock Pl, Sooke, BC $725,000</title>
    <description> <![CDATA[ 
Beautiful Updated 5 Bedroom Home in Sooke










Welcome to 2013 Govenlock Place in beautiful Sooke BC.nbsp; 


Updated with new floors, paint, deck, lighting, driveway and roof this generous-sized 5 bedroom and den home located at the end of a quiet street is sure to impress.nbsp; 


On the main level, you will find an office or den with large bay windows, a three-piece bath with a live edge countertop and river-rock shower, and a large two-bay garage. 


Upstairs is a very large open concept dining and family room surrounded by large windows creating a bright happy space.nbsp; 


The cozy pellet stove warms the entire house creating both charm and reduced heating costs.nbsp; 


A large glass slider leads out to a south-facing sun-drenched deck perfect for BBQing and enjoying summer nights.nbsp; 


The kitchen is open and welcoming and offers ample counter space and cupboards, an island perfect for entertaining, stainless appliances, and a tiled backsplash.


 Another glass slider leads to the deck and your private fully fenced backyard.nbsp; 


There are three generous-sized rooms including the master with a two-piece bath and walk-in closet.nbsp; 


A third 4 piece bath completes the upper level.nbsp; 


There is an inlaw suite on the lower level for added convenience and even a detached small house guest room on the property.nbsp; 


The yard features many fruit trees including apple and cherry, raised garden beds, a chicken coop, and a treehouse. 


This home is only minutes to Sooke city centre for shopping and all amenities as well as on major bus routes and close to the beaches Sooke is famous for. 


Call today for your private viewing you wonrsquo;t want to miss this one.




Find Out More Aboutnbsp;2013 Govenlock Place

Talk to our team to learn more about thisnbsp;Beautiful Updated 5 Bedroom Home in Sooke

Request a Tour


 ]]> </description>
    <pubDate>Wed, 17 Feb 2021 17:45:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/canadian-inflation-jan-february-17-2021.html</guid>
    <link>https://www.ronneal.com/blog/canadian-inflation-jan-february-17-2021.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Canadian Inflation (Jan) - February 17, 2021</title>
    <description> <![CDATA[ 









nbsp;


Canadian Inflation (Jan) - February 17, 2021


Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.0 in January year-over-year. The increase was largely due to higher gasoline prices (6.1). Excluding gasoline, the CPI rose by 1.3, which is up from 1.0 in December. Prices rose in seven of eight components year-over-year in January. Growth in the Bank of Canadas three measures of trend inflation inched up slightly, averaging 1.5.nbsp;Regionally, the CPI was positive in eight provinces, led by Newfoundland and Labrador (1.5). In BC, CPI rose by 1.1 in January year-over-year, up from Decembers increase of 0.8. Strong price growth continued for health and personal care and shelter. Home furnishingsnbsp;also pulled ahead in January on the heels of robust home sales.nbsp;In contrast, gas prices continue to be a drag on BCs inflation.nbsp;Inflation is expected to remain weak until the vaccine rollout becomes more widespread and health regulations across the country are relaxed. In the current environment, the Bank of Canada will continue to keep interest rates low.Link:nbsp;https://mailchi.mp/bcrea/canadian-inflation-jan-february-17-2021


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>Wed, 17 Feb 2021 17:41:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/canadian-housing-starts-jan-february-16-2021.html</guid>
    <link>https://www.ronneal.com/blog/canadian-housing-starts-jan-february-16-2021.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Canadian Housing Starts (Jan) - February 16, 2021</title>
    <description> <![CDATA[ 









nbsp;


Canadian Housing Starts (Jan) - February 16, 2021


Canadian housing starts increased by 23 m/m to 282,428 units in January at a seasonally adjusted annual rate (SAAR), following a 12 decrease in the previous month. Housing starts increased in 6 of 10 provinces with the strongest gains in Quebec and Ontario. Januarys strong performance increased the six-month moving average to a historic high of 244,963 units SAAR. nbsp;In BC, housing starts decreased by 17 m/m to 35,931 units SAAR in January, following a 12 decrease in the previous month. Building activity was downnbsp;by 28 for multi-unit starts, while single-detached starts were up by 38 in January. Compared to the same time last year, housing starts were up by 24 in BC.nbsp;We can expect housing activity to continue to be supported by strong demand and historically low borrowing rates but are not expected to remain at elevated levels. The value of BC residential building permits was down by 5 in December. The good news is that after a long downward trend in the value of building permits for single-detached homes in BC, the trend started to reverse in April 2020.nbsp;Link:nbsp;https://mailchi.mp/bcrea/canadian-housing-starts-jan-february-16-2021


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, 16 Feb 2021 17:37:00 -0600</pubDate>
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<item>
    <guid>https://www.ronneal.com/blog/the-neal-estate-teams-real-estate-market-update-for-vancouver-island-for-february1.html</guid>
    <link>https://www.ronneal.com/blog/the-neal-estate-teams-real-estate-market-update-for-vancouver-island-for-february1.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>The Neal Estate Teams Real Estate Market Update for Vancouver Island for February 2021</title>
    <description> <![CDATA[ 
Record low inventory coupled with persistent demand continued on into the new year. The Vancouver Island Real Estate Board area, in the first month of 2021, had 286 single family homes sold, up 66 from the same month last year. Condo sales also increased year over year as many buyers were pushed into this segment (up 46). In a slight respite from the flurry of activity though, sales were actually down 5 and 26 respectively, compared to December 2020 board-wide.


Very likely, the slight decrease in sales from December to January is actually a product of the dwindling inventory. The end of January saw 420 active single family homes available on the market (compared to 421 at the end of December) and 212 condos (down 9 from December). January is traditionally the month of the lowest sale to listing ratio as sellers get a jump on the spring market and buyers are open to waiting to see what new inventory will come on. This does not seem to be the case for early 2021.


The combination of the above factors is certainly leading to rising prices across Vancouver Island. Many listings, especially single family homes/well-priced properties, are selling in multiple offers. It is the nature of statistics to lag behind the actual market value by about a month. Bearing that in mind, we see that the board-wide benchmark price for a single family home rose 12 year over year to hit $596,500. Condos rose 10 in the same period to hit $316,400.


Looking at prices regionally:






Campbell River


$528,000


+14




Comox Valley


$620,100


+11




Duncan


$561,900


+17




Nanaimo


$604,500


+11




Parksville-Qualicum


$686,600


+12




Port Alberni


$371,200


+7 




North Island


$283,200


+7




Victoria


$932,000


+8.3






Low-interest rates are certainly one of the primary driving forces in the market and the increase in buying power is quickly being met by an increase in price. Simply put, prices have shifted. Further, they have shifted to an extent not yet quantified by statistics. Now is a very important time to price homes for sale properly and to come supremely prepared to the negotiation table on the buyers side.


If you would like to know how we are beating the market, helping our clients win, and keeping people moving safely, please clicknbsp;Herenbsp;for a FREE consultation. Find new listings before they get to MLS and ask us about featuring your home onnbsp;VictoriaComingSoonListings.com, where we generate interest while youre getting ready to come to market. Ask us also about our FREE Staging Consultation for advice on preparing your home in its best light for the market, ensuring you the best results.nbsp;nbsp;


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>Fri, 12 Feb 2021 12:05:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.ronneal.com/blog/statistics-release-2021-01.html</guid>
    <link>https://www.ronneal.com/blog/statistics-release-2021-01.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Statistics Release - 2021-01</title>
    <description> <![CDATA[ 



A Record-Setting Start to 2021





nbsp;


Vancouver, BC ndash; February 11, 2021.nbsp;The British Columbia Real Estate Association (BCREA) reports that a total of 7,169 residential unit sales were recorded by the Multiple Listing Servicereg;nbsp;(MLSreg;) in January 2021, an increase of 63.3 per cent over January 2020 and over a thousand sales higher than the previous record for the month of January. The average MLSreg;nbsp;residential price in BC was $845,169, a 16.1 per cent increase from $728,269 recorded in January 2020. Total sales dollar volume was $6.1 billion, an 89.6 per cent increase from last year.ldquo;It was once again a record-setting month for the provincial housing market,rdquo; said BCREA Chief Economist Brendon Ogmundson. ldquo;While sales were strong across all regions of the province, the Fraser Valley, Interior and Vancouver Island regions shattered previous sales records and pushed January sales to new heights.rdquo;Total active residential listings were down 21.5 per cent to 20,254 units in January, the lowest level of provincial active listings on record, going back to 2000. With strong sales and so few listings, market conditions are exceptionally tight with less than three months of total supply.nbsp;ldquo;The supply of listings continues to be held back by the pandemic,rdquo; added Ogmundson. ldquo;With so few listings, markets are starved for supply and prices are under extraordinary pressure.rdquo;nbsp;nbsp;





For the complete news release, including detailed statistics, clicknbsp;here.For immediate release


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


Request a Tour


 ]]> </description>
    <pubDate>Thu, 11 Feb 2021 17:05:00 -0600</pubDate>
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