At the end of 2023, we predicted “close to 7,000 transactions” in 2024 in the Victoria Real Estate Board area. Re-evaluating now at the close of the first quarter of 2024 its looking like we came in about 7% under that projection. Basically, the first few months are not going gangbusters, although Q1 was about 6% above 2023. That being said, the game could change as soon as June 5th, with the next Bank of Canada announcement widely thought to be the possible first rate drop after 6 consecutive holds.

As of April 15th, well into what we would regularly call “The Spring Market”, sales are still a bit sluggish at 18.8 per day compared to 21.2 per day for the month of April in 2023. On the other hand new listings are coming at a smoking clip, with

Canadian Retail Sales (February 2023) - April 21, 2023

Canadian seasonally adjusted retail sales fell 0.2 per cent in February to $66.3 billion. Sales fell in 4 of 9 subsectors, but the decrease was led by lower sales at gasoline stations and fuel vendors (-5.0 per cent) and general merchandise retailers (-1.6 per cent). Core retail sales, which strips out gasoline and motor vehicle and parts dealers, rose 0.1 per cent. In volume terms, sales fell 0.7 per cent in January. 

In BC, seasonally adjusted sales fell 3.3 per cent in February. Compared to the same month last year, retail sales were down 0.3 per cent in the province. In the Greater Vancouver region, sales were down 4.4 per cent month-over-month and 2.4 per cent year-over-year. 

3 Bedroom Rancher Townhouse with Double Attached Garage

Rare find in a great location, close to all amenities at Admirals Walk and steps to the water. 

This 3 bedroom, 2 bathroom rancher with a double attached garage is ready for you to call home. 

Find Out More About 1-126 Hallowell Road

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Canadian Inflation (March 2023) - April 18, 2023

Canadian prices, as measured by the Consumer Price Index (CPI), rose 4.3 per cent on a year-over-year basis in March, a decrease from the 5.2 per cent rate in February. This large drop was mostly due to base year effects; the CPI was rising quickly this month last year and fuel prices in particular are substantially down from a year ago. Grocery prices continue to rise quickly, up 9.7 per cent from last year, following seven consecutive months of double-digit increases. Mortgage interest costs were up 26.4 per cent year-over-year, the fastest pace on record, as Canadians renewed or initiated higher-rate mortgages. In contrast, the Homeowner's Replacement Cost, which tracks home prices,

Magical Ocean View 4 Bed 4 Bath over 5000 sq ft on .43 acres

Magical Ocean and Coastal Mt. views of the renowned Campbell River Fishing Pier, Marina and Discovery Paggage creating your backdrop to this 4 Bed 4 Bath Custom Craftsman home offering over 5000 sq. ft. on .43 acres.

The crafted fir entry systems from the private courtyard lead to the light-flooded creamy kitchen where entertaining is easy with oversized granite Bakers Island, ALL the Bells and Whistles featuring front garden seating views, and rear Ocean Delights!

Your eye captures the Open Fir Staircase and Walnut Display wall entering the spacious Dining and Living areas with a slate wood fireplace surrounded by wood windows and access to seating everywhere!

Family room

The city of Victoria is known for its picturesque landscapes, stunning architecture, and vibrant culture. It is also home to some of the most expensive neighbourhoods in British Columbia. These neighbourhoods boast waterfront properties, stunning views, and upscale amenities that attract those looking to live in luxury. Whether you are moving to Victoria or just curious about the city's most expensive areas, this article provides insight into the most expensive neighbourhoods in Victoria.

Fernwood

Fernwood's historic, walkable community is located just east of downtown, bounded by Shelbourne, Haultain, Cook, and Fort Streets. The community is centred around Fernwood Square, located at the intersection of Fernwood Road and Gladstone Avenue. It's

Urban Living at its Best!

Urban Living at its Best!

This meticulously well-maintained 3 bedrooms, 2 ½ bathroom townhome boasts an open concept main floor, generous room size, and lots of storage space.

The home is move-in ready and outdoors is a lovely patio area.

The wicker furniture is even included!

Conveniently located close to downtown, parks, schools, and grocery stores within walking distance, and across from Crystal Pool.

Book your showing today to see all that this home has to offer!

Find Out More About 1-2210 Quadra Street

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Bank of Canada Interest Rate Announcement -
April 12, 2023

The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision the Bank noted that demand in Canada still exceeds supply and labour markets remain tight and that first quarter economic growth looks stronger than expected. However, the bank expects consumption growth to slow this year as households renew mortgages at higher rates and growth in exports and investment will decline as the US economy slows substantially in coming months. On inflation, the Bank expects headline CPI inflation to fall to 3 per cent in the middle of this year before declining gradually to 2 per cent by the end of 2024. However, the Bank warned getting

The city of Victoria is an exceptionally walkable city, with plenty to offer both locals and visitors alike in terms of attractions, amenities, and everyday conveniences. There are waterfront areas, historic districts, open natural spaces, and commercial hubs—and the convenience of walking almost anywhere within 15–20 minutes is a tremendous benefit. The ability to do so from some of the best neighbourhoods in Victoria is a significant bonus, too! Here's everything you need to know about this historic city's most walkable neighbourhoods.

Fernwood

About two kilometres east of downtown Victoria sits the neighbourhood of Fernwood. The area was once the site of a natural spring that served as Victoria's primary water source in the 1800s. Today known

Find Out More About 3406 Connorton Lane

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