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

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). 

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

Prestigious Bear Mountain Executive Golf Front Home on One of the Highly Sought After Neighbourhoods

Welcome to 1323 Champions Court, a prestigious Bear Mountain executive golf front home on one of the most highly sought after neighbourhoods on the mountain that includes two Bear Mountain memberships. 

As you enter you will see this home has been built to maximize the views of the water and golf course beyond.

The kitchen is the hub of the home with a massive island, quartz countertops, wet bar with wine fridge, dual sinks and dual ovens, stainless steel high-end appliances, walk-in custom pantry, and in-cabinet lighting. 

Open concept living with the dining room, family room featuring 6 ft linear fireplace and

Meticulously Maintained Custom Built Home on a No Through Private Road.

Welcome to 3448 Horizon Terrace on triangle mountain in the Westshore.

A meticulously maintained custom built home on a no through private road.

Tastefully decorated level entry featuring a gourmet kitchen with island, all new high-end appliances and a double oven, family room with cozy wood-burning fireplace an office, and two-car garage.

Also on the main is a dining area strategically placed in front of the glass doors with phantom screens looking out onto the yard beyond. Upstairs you will find three generous sized rooms; the master a true delight with the completely renovated bathroom and large walk-in closet.

Rarely do you find a private large fully

COVID-19 Reopening Dashboard - July 29, 2020

The BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province’s subsequent state of emergency.

To monitor the province’s progress toward a “new normal,” we benchmark each indicator to February 2020, the month before the pandemic was declared. This dashboard will be updated each month.

BCREA's updated COVID-19 Reopening Dashboard is available here.

For more information, please contact:

Kellie Fong
Economist
778.357.0831
kfong@bcrea.bc.ca 

BCREA is the professional

Stunning Residence in award-winning boutique complex

Stunning 1-bedroom residence in award-winning boutique complex, The Palladian, a top-of-the-line heritage conversion with outstanding attention to detail in both the residence and common areas.

New, high-end LG SS kitchen appliances, granite counters, new Whirlpool washer and dryer, plus rare, private, fenced patio garden.

Located on the quiet side of the building, this unit features recently upgraded kitchen, bathroom and lighting fixtures, hardwood floors throughout, 12ft high ceilings, open floor plan, large master with large double closets and large, stunning original windows.

Centrally located right downtown and within walking distance to everything, The Palladian, a

The perfect five bedroom family home with water views!

Welcome to 8045 Lochside drive; a perfect five-bedroom family home on a generous 8600 square foot private lot with water views and only two blocks from the Cordova channel.

Versatile floor plan with a large grand entryway leading to the upper floor where you will enjoy views of the Harrow Straight in an open concept bright and spacious living area.  

There is a large kitchen with a separate dining room and a huge family room featuring a cozy fireplace.  

There are three generous sized bedrooms up and glass sliding doors to a large south-facing sundeck that basks in the sun and looks out over your mature gardens, private pond, and fully fenced yard below.  

Downstairs is a

Canadian Retail Sales (May) - July 21, 2020

A good news report. The easing of pandemic restrictions across the country led to an 18.7% surge in seasonally-adjusted Canadian retail sales in May to $42 billion. Leading the growth was a motor vehicle and parts dealers, followed by an increase in sales in almost all other subsectors. Although sales increased in May, retail sales remain 20% below pre-pandemic levels.  

Sales were up in all provinces in May, the most notable increases were in Quebec (33%), Manitoba (24%), New Brunswick (21%) and Nova Scotia (20%). In BC, seasonally-adjusted retail sales were up by 12% ($6.4 billion) and by 14% ($2.8 billion) in Vancouver. Retail sales were up in all subsectors as brick and mortar stores begin

Well-Built English Character Home Set on a Spacious Lot

You’ll love this delightful, well-built English character home set on a spacious lot well back from the road!

This charming home exudes attention to detail and pride of ownership.

Extensive updates include:

• addition of ensuite to the master bedroom;
• connection to natural gas;
• new high-end gas stove;
• new lighting throughout;
• custom cabinet doors in the kitchen;
• Victorian metal fence and gate; and much more.

The cozy living room boasts original oak floors and an ethanol burning fireplace. Enjoy preparing meals with the new gas stove in the functional kitchen.  

This home includes three comfortable bedrooms. The loft is a great bonus space with

Thank you all for entering our COVID Lockdown Photo Contest! We've received some amazing submissions from everyone and are happy to announce the lucky winners below!

Congratulations to:

Loreen Topping

Sara Burke

Rebecca Da Silva

Ian Warren

Jasmine Sharp