February 2022

Adorable, 3 Bedroom Cottage on 5 Acres

This adorable, 3 bedroom cottage on 5 acres in the city of Parksville is a one-of-a-kind property.

The cottage was renovated, with new quartz countertops, flooring, and paint.

This property was updated with 2 new septic tanks, 4 RV hook-ups and 5 tent spots.

Minutes away from the gorgeous Rathtrevor Beach steps away from the Englishman River.

Being right in the city of Parksville you are central to all the fabulous amenities Parksville has to offer.

The perfect getaway for you, your family, and friends to enjoy for years to come.

This one won't last long once it hits the market.

Find Out More About 319 Martindale Road

Sunny Lexington Park Condo lives like a 2 Bedroom!

Lexington Park Sunny updated 1 Bed and Large Den Condo lives like a 2 Bedroom with glass block letting the light filter in.

Driving up to the immaculate and well-cared for building close to downtown you will feel safe and right at home in this 2nd-floor unit.

The entry leads to a spacious primary bedroom, bath, laundry, and storage.

The open living room with an electric fireplace (gas fitting installed as well) invites you to relax or access the private patio to enjoy the beautiful quiet outlook and BBQ year-round.

Spacious dining or flex area leads to the upgraded separate kitchen with lovely granite tops and stainless appliances.

The Den or Second bedroom can also be a

Spacious 2 bedroom 2 bathroom home

Welcome home to unit 1, 88 Dallas Rd. 

This beautiful garden-level suite is located on the highly sought-after Dallas Rd waterfront in the James Bay community.

Just steps to the popular Ogden Point Breakwater, Dallas Rd Waterfront trail, and Fisherman’s Wharf Park.  

The spacious 2 bedroom 2 bathroom home offers over 1150 sq. ft. with an open floor plan connecting the kitchen, which has matching stainless appliances & an eating bar, a dining area, and a large living room with a cozy electric fireplace.

Down the hall, you will find in-suite laundry, a second nicely appointed bedroom, spare 4-piece bathroom with heated floors.

The large primary bedroom with a walk-in closet & 4-piece ensuite

As of mid-February (and Reviewing January), sales in Victoria are slower than they were this time last year but mainly due to the severely lacking inventory. Single-family home sales have decreased the most (compared to condos), which does make sense as that particular segment continues to be the tightest availability-wise. Despite the general “slowness”, it is still absolutely a HOT MARKET and it doesn’t seem as though there is any great news for buyers just yet. Most, as in well over half, of single-family homes are selling over asking price with multiple offers, and inventory, as stated, is still severely lacking. Further, as of Feb 15th, we are tracking for a decrease in new listings compared to February last year. With last year already taking

The Market Update for the Vancouver Island Real Estate Board area is much the same as the South Island update so far this year (which can be read about here). Sales slowed just enough to allow a small increase in inventory but not enough to shift any of the clock's hands from pointing directly at Seller’s Market Time. 

Digging into the numbers, there were a total of 846 sales on all of Vancouver Island in January, 372 of which were in the VI Board area (VIREB) and 474 of which were in the Victoria Board area (VREB). Breaking down the VIREB sales by property type, 220 single-family homes, 91 condos, and 61 townhomes sold. The table below shows the sales volume change (VIREB) both annually and compared to the previous month.

Canadian Inflation (January 2022) - February 16, 2022

Canadian prices, as measured by the Consumer Price Index (CPI), rose 5.1% on a year-over-year basis in January, up from 4.8% in December. On a month-over-month basis, the CPI rose 0.9% in January (0.6% seasonally adjusted). The Bank of Canada's preferred measures of core inflation (which use techniques to strip out volatile elements) rose an average of 3.2% year-over-year in January. Prices rose year-over-year across all major components of the index, but prices were driven in particular by a 6.2% rise in shelter costs, the highest rate of appreciation since February 1990. Goods (+7.2%) continued to rise at a faster pace than services (+3.4%) in January. In BC, consumer prices

Bright Top Floor Corner Unit

Bright 2 bed, 2 bath top floor corner unit on the backside of the building w/ a quiet tranquil outlook facing onto lovely fir trees and songbirds.

The open-concept spacious home is great for entertaining with a large dining area that opens to the well-appointed kitchen with island bar and East facing living room with a cozy electric fireplace and access to the balcony with beautiful Nature-esque views.

Down the hall, you will find the second bedroom, with access to the balcony, 4-piece guest bathroom, in-suite laundry, and large primary bedroom, also with access to the balcony, and 4-piece ensuite.

This beautiful unit includes a parking space & extra parking for guests & lots of in-suite storage plus a

Canadian Housing Starts (January 2022) - February 15, 2022

Canadian housing starts fell to 230.8k units in January at a seasonally-adjusted annual rate (SAAR). Housing starts were down by 7.7k (3% m/m) in January (SAAR). Comparing year-over-year, starts were down from January of 2021 (26.9% y/y). Single-detached housing starts rose 8.9% in January to 78.5k, while multi-family and others dropped 8.5% to 152.2k (SAAR). 

In British Columbia, starts were down 29.2% in January, falling to 39.4k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts fell 23.4% m/m to 7.2k units while multi-family starts declined 33.4% to 28.2k units. Starts in the province were 33.7% below the

Studio condo heart of downtown Victoria! Pets, children, and rentals allowed.

Studio condo in downtown Victoria.

The Boardwalk allows pets, children, and rentals.

Renovated in 2006 this bright unit has a Murphy bed to stow away during the day and adds extra living space.

In-suite laundry and large kitchen make a convenient living accommodation.

Storage and bike lockers, the waitlist for secure underground parking at $65. per month.

Well run strata, roof replaced in 2010.

Walk to shopping, dining, movies, and amenities in downtown Victoria and a short stroll to the Ocean and Inner Harbour and many tourist attractions.

Invest in yourself with this affordable unit. It’s all at your doorstep!

Single Family Modern 3 Bed 2.5 Bath Home in Happy Valley

Modern Award Limona constructed 3 bed, 2.5 bath single garage with 2 outdoor parking spots in friendly Happy Valley!

Main level 9 ft. ceilings and open great plan living with designer kitchen, quartz counters, and peninsula.

Enjoy the spacious living room with a gas fireplace and access to sliders bringing to the picturesque outdoors in.

The patio offers a BBQ hookup with room for furniture.

The dining area also has views of the ambient fireplace and welcomes great gatherings and 2 piece bath in the hall.

Energy-saving Rinnai ductless gas furnace and on-demand tankless hot water system.

The upper-level bedrooms and 2 baths, laundry, and storage.

This home packs a