In the News Blog

Tuesday, June 1, 2021   /   by Janine Thomson

Unwavering Housing Demand Reinforces Need to Support Supply of Homes

The Victoria market continued to show its strength through the month of May, with a near record setting pace for sales and ongoing record low inventory levels. A total of 1,049 properties sold in the Victoria Real Estate Board region this May, 129.5 per cent more than the 457 properties sold in May 2020, but 6 per cent fewer than the previous month of April. Sales of condominiums were up 200.9 per cent from May 2020 with 325 units sold. 1.8 per cent fewer condominiums sold in May 2021 than in the previous month of April. Sales of single family homes were up 111.4 per cent from May 2020 with 537 sold. 4.8 per cent fewer single family homes sold in May 2021 than in the previous month of April.

“Victoria is an amazing place to live and we will continue to see demand for property here,” said Victoria Real Estate Board President David Langlois. “In the future we need to support the creation of a housing market that can respond to demand and population growth and evolv ...

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  home sales, real estate statistics

Monday, May 3, 2021   /   by Janine Thomson

Housing in Greater Victoria remains in high demand

May 3 2021
"Comparing last year's April market to 2021 does not provide us any real insight into long term market trends," said Victoria Real Estate Board President David Langlois. "Instead of comparing to last year's numbers, we need to look at years before the pandemic to see how April 2021 compares to average. In the most recent five years pre-pandemic, the average number of sales in the month of April was 896. April 2016 holds the record for sales with 1,286 properties sold. The five-year average for active listings was 2,596, so we sit at more than one thousand homes fewer than a recent average level of inventory." A total of 1,116 properties sold in the Victoria Real Estate Board region this April, 288.9 per cent more than the 287 properties sold in April 2020, but 4.9 per cent fewer than the previous month of March. Sales of condominiums were up 353.4 per cent from April 2020 with 331 units sold. 12.2 per cent fewer condominiums sold in April 2021 than in the previous mont ...

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  home sales, victoria real estate

Sunday, March 7, 2021   /   by Janine Thomson

8 Tips to Preparing your Home for a Listing

When a home is properly staged, it should help a buyer see the beauty and value in the home, enticing them to imagine themselves living there. Staging is just as important for in-person home tours as it is for online property photos. More than 90% of home buyers search for homes online, and 85% of buyers say it’s the photos that are the most important factor in deciding which homes to view, according to research from the National Association of REALTORS®.
Here are some ways to prep a home for the photo shoot.
De-clutter..... De-clutter!
Appropriately displayed art on walls or above a fireplace can add color to the background and enhance the property’s online photos. Also, be sure to tidy up those bookshelves! Overstuffed shelves with various books and decor can create a visual nightmare. Organize them by coordinating the books or magazines by colored sleeve or by height. To add visual interest, group nicely tiered stacks and display them upright with a few d ...

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  selling a home, preparing for listing

Sunday, March 7, 2021   /   by Janine Thomson

13 Ways to Reduce Moisture in Your Home

Living on the West Coast and on Vancouver Island, where rain pours most frequently throughout the year, it becomes an important preventative endeavour to keep moisture at bay and away from the home. Often, simple measures can make a big difference and a regular schedule of home maintenance is far easier than waiting until something goes dreadfully wrong and costly. Otherwise, we all know that if moisture has been around for a while, it has the chance to mark its territory, leading to mold, and rot.
Here is a few tips and tricks to keeping moisture & humidity away:
Install rain gutters if you don’t already have them. This will direct water away from the foundation and can help prevent a cracked slab.

Clear leaves and tree debris from your rain gutters at least twice a year to avoid water backup that can rot wood gutters and rust those made of sheet metal. If gutter drainpipes are clogged, try to flush debris down them with a hose. ...

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  home maintenance tips

Sunday, February 28, 2021   /   by Janine Thomson

What is a Bully Offer?

WHAT IS A BULLY OFFER?The best descriptive way to explain bully offers, which are known as a ‘pre-emptive offer’, is an offer that a buyer submits to the sellers before the indicated date, that they will hold or look at any offers. You’ll see this type of behaviour mainly in a ‘hot sellers’ market, where there are more buyers than there are homes for sale. Sellers can make the decision when they list their home for sale to “hold offers” to a certain time and date where they will review all offers. This pressure puts the buyers into a competitive situation and to make a decision quickly. In a bully offer situation, the buyer puts pressure on the seller to accept their offer without considering others. They will submit it to the seller before all other offers are in. Bully offers can be very good and a seller may choose to except it and be done with the day, and by cancelling out other offers on ‘presentation night.’ In a ho ...

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  real estate, bully offers, sellers market