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May 2022

Found 12 blog entries for May 2022.

Amazing Shop, Home, and Suite!

marinacres103cs

Welcome to 7200 Seamount Close, a highly desirable and quiet location, close to schools, parks, buses, ferry terminals, the airport, and the city of Victoria.

With an array of recent additions and upgrades, this corner lot property has so much to offer!  

A thoroughly maintained home with a newly updated kitchen, beautiful solid hardwood flooring, a high-quality metal roof, a spacious sundeck, and a secondary suite to help with your mortgage.

 

   
   
   
   
   

Find Out More About 7200 Seamount Close

Talk to our team to learn more about this Amazing Shop, Home, and Suite!

Request a Tour

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bcrea header

May30-1  

Canadian Inflation (April 2022) - May 18, 2022

Canadian prices, as measured by the Consumer Price Index (CPI), rose 6.8 per cent on a year-over-year basis in April, up from 6.7 per cent last month. This was the largest gain since January 1991 (+6.9 per cent). According to Statistics Canada, price rises were broad-based, with groceries up 9.7 per cent year over year, gasoline up 36.3 per cent, and shelter costs up 7.4 per cent. Excluding gasoline, the CPI rose 5.8 per cent year over year in April. On a monthly basis, prices were up 0.6 per cent, moderating from a 1.4 per cent increase in March. In BC, consumer prices rose 6.7 per cent year-over-year. 

With inflation stubbornly high through the first part of 2022 and unemployment in

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bcrea header

May30-1  

Canadian Housing Starts (April 2022) - May 16, 2022

Canadian housing starts rose by 18.9k (7.6 per cent) to 267.3k units in April at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were down from April of 2021 (-3.1 per cent y/y). Single-detached housing starts declined 1.5 per cent to 83.2k, while multi-family and others rose 12.3 per cent to 184.1k (SAAR). 

In British Columbia, starts jumped 59.3 per cent in April, rising to 52.1k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 13.6 per cent m/m to 9.4k units while multi-family starts jumped 93 per cent to 39.9k units. Starts in the province were 32.5 per cent above the levels from

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Attention Builders/Developers

marinacres103cs   Attention Builders/Developers   Opportunity to build 22 new townhomes in quiet upscale Nanaimo residential neighbourhood a short walk to VIU.   Development Permit approved and building permit underway!    Each unit with two bedrooms, den and garage will be approximately 1300 square feet.   Targeting the most active part of the market, excellent value with opportunity for quick turnaround with high ROI!

Click to see the full attachment (PDF)  
   
   
   
   
   

Find Out More About 497 Menzies Ridge Drive

Talk to our team to learn more about this potential home in Nanaimo.

Request a Tour

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bcrea stats release

BC Home Sales Trending Toward Normal Activity

stat release may 13 2020  

Vancouver, BC – May 12, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 8,939 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2022, a decrease of 34.9 per cent from a record April 2021. The average MLS® residential price in BC was $1.065 million, a 12.9 per cent increase from $943,765 recorded in April 2021. Total sales dollar volume was $9.5 billion, a 26.5 per cent decline from the same time last year.

“Canadian mortgages have sharply increased, surpassing 4 per cent for the first time in a decade,” said BCREA Chief Economist Brendon Ogmundson. “With interest rates rising, demand across BC is now on a path to

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Our Top 3 Winners:

   
 

Runner-Ups:

   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
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Vancouver Island Real Estate saw an increasing gap between new listings and units sold with new listings coming out on top in the month of April 2022. This dynamic eased pressure further and allowed a little bit of much-needed inventory to build. That said, the easing of pressure does not mean it isn’t still a hot market and the inventory situation is still keeping sellers in a strong position.

Digging into the Numbers, there was a total of 1,551 sales on Vancouver Island in April with 727 of them taking place in the Vancouver Island Real Estate Board Area (the rest in the Victoria board area). Of those 727 sales, 507 were single-family homes, 114 were condos and 96 were townhomes. Here is how those numbers look as percentage changes from the previous

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Cedar Hill Family Home w/ Mortgage Helper!

marinacres103cs

Cedar Hill 3 bed 2 bath Family Home w/ studio suite (full kitchen) perfect for a mortgage helper or in-laws, located just steps from the beautiful Cedar Hill Golf Course, walking trail, 10 mins to DT, 6 mins to UofVic, and all amenities of Shelbourne Plaza, Hillside and University Heights Malls.

With natural gas to the home, you have a newer High Efficient Gas furnace and 2 gas fireplaces keeping your heating costs down and would be easy to install A/C.

Currently, the main part of the home has a lower entrance with 1 bedroom and shared laundry on the lower level which could be converted into an actual 1 Bedroom suite W/a separate entrance.

Upstairs you will find a large open living room,

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Reviewing April and the Start of May, we see a general hesitancy in the Victoria Real Estate Market. Sales to listing ratios were down in April. So were both new listings and sales individually. It appears that the array of environmental factors has both buyers and sellers in somewhat of a holding position as we all wait to see what happens next. The sales to list ratio is particularly important for judging the pressure of demand on supply and those numbers for single-family homes especially appear to be balanced out at the moment (although certainly not yet even). Pressure on the condo market is slightly less affected and it is arguable that townhomes are the most in-demand product at the moment. The numbers are certainly backed up by common sense as

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Conveniently Located Country Acreage

marinacres103cs

Enjoy the beauty and serenity of this 3.0-acre country estate in Errington while still being conveniently located only minutes from Coombs market and City of Parksville.

As soon as you enter the front gates you will notice the spectacular oasis created from years of loving care.

This fully fenced landscaped acreage with fruit trees throughout and a beautiful garden and greenhouse will delight the gardening enthusiast.

You won’t miss this terrific workshop set up in a roomy 2-car garage and custom cabinets for all your tools, as well as an additional workshop with a bay door for storage or your toys.

If you love to entertain outdoors then you will appreciate the backyard bar and fire-pit area.

1,418 Views, 0 Comments