December 2, 2024  A total of 551 properties sold in the Victoria Real Estate Board region this November, 39.8 per cent more than the 394 properties sold in November 2023 and a 15.7 per cent decrease from October 2024. Sales of condominiums were up 55 per cent from November 2023 with 186 units sold. Sales of single family homes increased by 36.3 per cent from November 2023 with 263 sold.
"I've found that buyers and sellers are feeling optimistic right now," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "With the steady decrease we've seen in interest rates and the continued balance in the market, consumers are feeling more comfortable and empowered to make the big decisions around home ownership knowing that they have a fairly stable real estate environment to navigate."
There were 2,836 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2024, a decrease of 10.3 per cent compared to the previous month. ...

As the leaves start to turn and the temperature dips, it’s time to think about putting away that well-loved patio set for the season. Outdoor furniture takes a beating all summer from sunlight, rain, and everything in between, so giving it a thorough clean before storage is essential. Here’s a simple, step-by-step guide to ensure your outdoor furniture stays in top condition for next summer.
1. Gather Your Cleaning Supplies
You’ll need:
Mild dish soap
Warm water
Soft cloth or sponge
Garden hose or a bucket of clean water
Soft-bristled brush (especially for textured surfaces)
Furniture wax (for metal pieces)
Each material requires a different approach, but most can be cleaned with these basic supplies.
2. Clean According to Material
Metal Furniture
Mix mild dish soap with warm water and use a soft cloth or sponge to scrub the metal surfaces.
Rinse with a garden hose or a bucket of clean water, then dry with a soft cloth to prevent rusting.
App! ...

Buying a home in Victoria, BC, is an exciting process, but beyond the sale price, buyers need to prepare for additional expenses known as closing costs. These costs cover various fees and charges associated with finalizing the purchase, and understanding them can make your buying process much smoother. Let’s break down the major closing costs you can expect as a homebuyer in Victoria.
1. Property Transfer Tax (PTT)
The Property Transfer Tax is one of the largest closing costs in British Columbia. It’s calculated as a percentage of the property’s fair market value at the time of purchase:
1% on the first $200,000
2% on the portion between $200,000 and $2,000,000
3% on the portion above $2,000,000
For example, on a $900,000 home, this tax would amount to $16,000. However, there are a few exemptions, such as for first-time homebuyers purchasing homes under a certain value or newly built homes that meet specific criteria.
2. Legal Fees an. ...

In British Columbia, a special levy is a one-time fee that strata owners are required to pay to cover expenses beyond the routine strata fees. Special levies typically arise when major repairs, upgrades, or unforeseen expenses occur that the strata's contingency reserve fund (CRF) can’t fully cover. Common examples include roof replacement, elevator upgrades, major plumbing work, or significant exterior repairs.



Understanding Special Levies in a BC Strata


When Special Levies Are Issued: These are proposed when the strata council identifies a need for a major project, especially if it can’t be funded with existing reserves. The decision requires a vote among owners, with a 3/4 majority needed for approval. If approved, each owner must pay a proportionate share based on their strata lot’s unit entitlement.



Amount and Payment of Special Levies: The levy amount is determined by the project's estimated cost. The council may collect this in a . ...

Navigating a bidding war in British Columbia’s competitive real estate market can be a challenging experience. As a buyer, you want to make your offer appealing without overpaying. While it’s tempting to keep raising your bid to win, a smart approach can improve your chances of success while keeping your budget in check.
Here’s how to compete in a bidding war strategically, ensuring you don’t overpay.

1. Get Pre-Approved and Know Your Financial Limits
Start by obtaining a mortgage pre-approval, which not only shows sellers you’re serious but also sets a clear boundary for your budget. A pre-approval gives you a realistic view of how much you can afford, helping you stay disciplined in a competitive bidding environment. It’s essential to stick to this limit and avoid getting emotionally swayed by the excitement of a bidding war.

2. Work with a Skilled Real Estate Agent
A knowledgeable agent can be invaluable in a bidding war. They. ...