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Open House. Open House on Sunday, March 16, 2025 1:30PM - 3:00PM

Please visit our Open House at 4022 Cavallin Crt in Saanich. See details here

Open House on Sunday, March 16, 2025 1:30PM - 3:00PM

Welcome to this fabulous 4-bedroom family home on a quiet cul-de-sac in Gordon Head! Offering nearly 2,700 sqft of flexible living space, this home features a living/dining area with vaulted ceilings & skylights, creating a sense of openness & height, along with a bright kitchen with custom cabinetry & plenty of workspace. The spacious south-facing backyard is perfect for gardening, featuring mature fruit trees, grapevines, & a charming chicken coop. Relax on the spacious "living" deck with an intertwined fig tree overlooking the yard, or unwind in the hot tub. This home includes 3 fireplaces for cozy winters, a new roof, gutters, hot water tank, & more. The neighborhood is fantastic with excellent neighbors & is conveniently located near schools, parks, & amenities, including the Gordon Head Recreation Centre. With UVic within walking distance & easy access to public transit, this is an ideal family home! A true gem for gardening enthusiasts & nature lovers!

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New property listed in SE Lambrick Park, Saanich East

I have listed a new property at 4022 Cavallin Crt in Saanich. See details here

Welcome to this fabulous 4-bedroom family home on a quiet cul-de-sac in Gordon Head! Offering nearly 2,700 sqft of flexible living space, this home features a living/dining area with vaulted ceilings & skylights, creating a sense of openness & height, along with a bright kitchen with custom cabinetry & plenty of workspace. The spacious south-facing backyard is perfect for gardening, featuring mature fruit trees, grapevines, & a charming chicken coop. Relax on the spacious "living" deck with an intertwined fig tree overlooking the yard, or unwind in the hot tub. This home includes 3 fireplaces for cozy winters, a new roof, gutters, hot water tank, & more. The neighborhood is fantastic with excellent neighbors & is conveniently located near schools, parks, & amenities, including the Gordon Head Recreation Centre. With UVic within walking distance & easy access to public transit, this is an ideal family home! A true gem for gardening enthusiasts & nature lovers!

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Victoria, BC Market Update for End of Month February 2025

​In February 2025, the Greater Victoria real estate market demonstrated stability, offering balanced opportunities for both buyers and sellers. A total of 528 properties were sold in the Victoria Real Estate Board (VREB) region, marking a 12.3% increase from the 470 properties sold in February 2024, and a 25.1% rise compared to January 2025. Condominium sales experienced a significant boost, with 192 units sold—a 26.3% increase from the previous year. Single-family home sales also saw growth, with 234 units sold, reflecting a 4.5% increase from February 2024. ​

The inventory of active listings reached 2,630 by the end of February 2025, showing a 9.8% increase from January 2025 and an 11.3% rise from the 2,364 active listings at the end of February 2024. This gradual growth in inventory, coupled with the uptick in sales, has contributed to a balanced market environment. VREB Chair Dirk VanderWal noted that the combination of steady prices over nearly two years and favorable interest rates has created comfortable conditions for both buyers and sellers. ​

Price trends have remained relatively stable. The Multiple Listing Service® Home Price Index (MLS® HPI) benchmark value for a single-family home in the Victoria Core was $1,309,500 in February 2025, a 3.7% increase from $1,262,200 in February 2024, and a slight rise from $1,287,200 in January 2025. Conversely, the benchmark value for a condominium in the Victoria Core decreased marginally by 0.5%, from $554,700 in February 2024 to $551,900 in February 2025, though it did see a slight increase from $548,100 in January 2025. ​

As we progress into the spring market cycle, which typically peaks in late spring, there is optimism for an influx of inventory to meet consumer demand. However, it's essential to remain attentive to potential impacts from global economic policies. In the current market conditions, properties that are well-presented and appropriately priced are more likely to succeed. Engaging with a local REALTOR® can provide valuable guidance to navigate these dynamics effectively. ​

In summary, the Greater Victoria real estate market in February 2025 has shown steady growth in sales and a gradual increase in inventory, fostering a balanced environment for both buyers and sellers. Maintaining awareness of market trends and seeking professional advice can help individuals make informed decisions in this evolving landscape.​vreb.org

Source: Victoria Real Estate Board, February 2025 Month End Statistics

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Open House. Open House on Sunday, March 2, 2025 12:00PM - 2:00PM

Please visit our Open House at 1146 Kiwi Rd in Langford. See details here

Open House on Sunday, March 2, 2025 12:00PM - 2:00PM

This spacious 4 bedroom townhouse offers nearly 2000 sq. ft. of comfortable living in a family-friendly neighborhood. The beautifully updated kitchen & numerous upgrades throughout make this home move-in ready. The main floor features a cozy wood-burning fireplace in the living area, while upstairs boasts 3 bedrooms, & a large bathroom with extra storage—ideal for a future laundry space. Downstairs, you'll find a 4th bedroom, a large family/recreation room, a laundry/storage area, & access to a private fenced yard, perfect for kids & pets. Exterior updates include roof, vinyl windows, & durable cement composite siding. This pet-friendly complex has no size restrictions, features a shared dog park & is conveniently located near Langford Lake, schools, shopping & recreation. With quick access to the highway for easy commutes to town, this home is a fantastic opportunity to enjoy both comfort & convenience!

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Open House. Open House on Sunday, February 23, 2025 2:00PM - 4:00PM

Please visit our Open House at 1146 Kiwi Rd in Langford. See details here

Open House on Sunday, February 23, 2025 2:00PM - 4:00PM

This spacious 4 bedroom townhouse offers nearly 2000 sq. ft. of comfortable living in a family-friendly neighborhood. The beautifully updated kitchen & numerous upgrades throughout make this home move-in ready. The main floor features a cozy wood-burning fireplace in the living area, while upstairs boasts 3 bedrooms, & a large bathroom with extra storage—ideal for a future laundry space. Downstairs, you'll find a 4th bedroom, a large family/recreation room, a laundry/storage area, & access to a private fenced yard, perfect for kids & pets. Exterior updates include roof, vinyl windows, & durable cement composite siding. This pet-friendly complex has no size restrictions, features a shared dog park & is conveniently located near Langford Lake, schools, shopping & recreation. With quick access to the highway for easy commutes to town, this home is a fantastic opportunity to enjoy both comfort & convenience!

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Victoria Hot Chocolate Festival for BC SPCA

The second annual Victoria Hot Chocolate Festival is warming up the city from February 1st to 28th, 2025. This year, over 25 local businesses are participating, each crafting unique hot chocolate creations. Notably, $1 from every hot chocolate sold is donated to the BC SPCA Victoria Community Animal Centre, blending indulgence with community support.

Featured Participants and Their Creations:

  • Q Bar & Veranda at the Fairmont Empress: Offering "Marshall’s Marshmallow Melt," inspired by Paw Patrol’s firefighting Dalmatian, featuring milk chocolate crèmeux, roasted hazelnut, gooey marshmallows, and a spiced dog bone cookie.

  • Courtyard Cafe: Serving a special hot chocolate combining rich chocolate syrup, house-made peppermint syrup, and house-made brownies, available at 463 Belleville Street.

  • Caffe Fantastico: Collaborating with Victoria’s own Sirene Chocolate to melt their Winter Warmer chocolate, steamed with your choice of milk, offered at multiple locations including 965 Kings Road.

  • Flourish BeauTea: Presenting a Strawberry Hot Chocolate at their downtown location, 667 Fort Street.

  • Pendray Inn and Tea House: Focusing on quality ingredients, their Traditional Hot Chocolate is made without additives, syrups, or artificial flavorings, served with freshly made whipped cream at 309 Belleville Street.

  • Duo Cafe Bakery: Indulge in their velvety Valrhona Hot Chocolate, balanced with a hint of vanilla and kosher salt, topped with a house-made peppermint marshmallow, located at the Inn at Laurel Point, 680 Montreal Street.

  • Pure Lovin’ Chocolate: Offering a Black Forest Hot Chocolate made with 72% organic, Fair Trade chocolate and creamy oat milk, topped with coconut whipped cream, house-made candied cherry syrup, and gluten-free chocolate cookie crumble, found at 102-3 Fan Tan Alley.

  • Cold Comfort Ice Cream: Featuring a Dairy-Free Chilly Chili Conetta—spicy hot chocolate ice cream with dairy-free fudge, marshmallow, and toasted meringue on a dairy-free/gluten-free cone, available at #2-1115 North Park Street.

  • Malahat SkyWalk: Serving the "SkyWalker Hot Chocolate," a velvety steamed chocolate milk crowned with whipped cream, caramel sauce, a crispy stroopwafel, chocolate minis, and a chocolate M&M-covered marshmallow, located at 901 Trans Canada Highway.

  • Working Culture Bread: Offering a Passionfruit Dark Hot Chocolate paired with a buttery shortbread cookie, at 2506 Douglas Street.

  • Blue Crab Seafood House: Featuring a hot chocolate made with Callebaut Belgium chocolate, smoked lapsang souchong syrup, homemade whipping cream, double smoked bacon powder, and orange, located at 146 Kingston Street.

  • Chocolats Favoris: Serving a Strawberries and Cream Hot Chocolate topped with whipped cream, mini meringues, and dehydrated strawberries, as well as a vegan dark peppermint hot chocolate made with oat milk, at 1010 Government Street.

  • Beacon Brewing: Throughout February, offering three rotating hot chocolate-inspired beers—a Chocolate Stout with flavors of peppermint, marshmallow, and Mexican hot chocolate, located at 9829 Third Street in Sidney.

  • The Courtney Room: Presenting a hot chocolate featuring Woods Crema Nocciola, Green Chartreuse, oat milk, chocolate, and orange oil, at 619 Courtney Street.

  • Green Cuisine: Offering a Praline Brownie Hot Chocolate, located at 560 Johnson Street #5 in Market Square’s Courtyard.

  • L’Apero Wine and Cheese Bistro: Introducing a Hot Chocolate Fondue with Belgian dark and milk chocolate, red wine reduction, and three fine cheeses for dipping, at 1028 Blanshard Street.

  • The Drake Eatery: Serving "Beet This! Hot Chocolate," a blend of rich cocoa, earthy beets, and warming Árbol chilies, topped with oat milk whipped cream and beetroot powder, with optional additions of Lot 40 Dark Oak Rye Whiskey or Mezcal, at 517 Pandora Avenue.

  • The Ruby: Offering a Mexican Hot Chocolate infused with cayenne, cinnamon, allspice, and nutmeg, topped with cinnamon-sugar whipped cream, with an option to add crème de cacao, and a Biscoff Hot Chocolate with caramel-infused delight topped with caramel and chocolate-dusted whipped cream.

For a complete list of participating businesses and their unique hot chocolate offerings, visit the festival's official website. This event not only showcases the creativity of Victoria's culinary scene but also supports a noble cause, making it a must-visit for locals and visitors alike.

For more information and updates, follow the Victoria Hot Chocolate Festival on Instagram.

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New property listed in La Langford Lake, Langford

I have listed a new property at 1146 Kiwi Rd in Langford. See details here

This spacious 4 bedroom townhouse offers nearly 2000 sq. ft. of comfortable living in a family-friendly neighborhood. The beautifully updated kitchen & numerous upgrades throughout make this home move-in ready. The main floor features a cozy wood-burning fireplace in the living area, while upstairs boasts 3 bedrooms, & a large bathroom with extra storage—ideal for a future laundry space. Downstairs, you'll find a 4th bedroom, a large family/recreation room, a laundry/storage area, & access to a private fenced yard, perfect for kids & pets. Exterior updates include roof, vinyl windows, & durable cement composite siding. This pet-friendly complex has no size restrictions, features a shared dog park & is conveniently located near Langford Lake, schools, shopping & recreation. With quick access to the highway for easy commutes to town, this home is a fantastic opportunity to enjoy both comfort & convenience!

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Open House. Open House on Sunday, February 9, 2025 12:00PM - 2:00PM

Please visit our Open House at 1146 Kiwi Rd in Langford. See details here

Open House on Sunday, February 9, 2025 12:00PM - 2:00PM

This spacious 4 bedroom townhouse offers nearly 2000 sq. ft. of comfortable living in a family-friendly neighborhood. The beautifully updated kitchen & numerous upgrades throughout make this home move-in ready. The main floor features a cozy wood-burning fireplace in the living area, while upstairs boasts 3 bedrooms, & a large bathroom with extra storage—ideal for a future laundry space. Downstairs, you'll find a 4th bedroom, a large family/recreation room, a laundry/storage area, & access to a private fenced yard, perfect for kids & pets. Exterior updates include roof, vinyl windows, & durable cement composite siding. This pet-friendly complex has no size restrictions, features a shared dog park & is conveniently located near Langford Lake, schools, shopping & recreation. With quick access to the highway for easy commutes to town, this home is a fantastic opportunity to enjoy both comfort & convenience!

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The Bank of Canada Cuts Rates by 25 Basis Points: What It May Mean for You

On January 29, 2025, the Bank of Canada announced a 25 basis point reduction in its benchmark interest rate, bringing it down to 3%. This move, marking the sixth consecutive rate cut since June 2024, comes amid escalating concerns over potential U.S. tariffs on Canadian imports—a development that could significantly impact our national economy.

In tandem with this monetary policy adjustment, the Canadian government has introduced several mortgage reforms aimed at enhancing housing affordability and accessibility. These changes are particularly relevant for homebuyers and owners in the Greater Victoria area, where property values have seen substantial appreciation in recent years.

Understanding the Rate Cut

The Bank of Canada's decision to lower the interest rate is primarily a preemptive measure to cushion the economy against the anticipated adverse effects of proposed U.S. tariffs. President Trump's administration has signaled intentions to impose a 25% tariff on Canadian imports starting February 1, a move that could disrupt trade and economic stability.

By reducing the policy rate to 3%, the Bank aims to stimulate economic activity by making borrowing more affordable for consumers and businesses. However, it's important to recognize that while lower interest rates can lead to reduced mortgage rates, the broader economic uncertainties tied to international trade tensions may temper the housing market's response to this rate cut.

Key Mortgage Reforms

In response to ongoing housing affordability challenges, the federal government has enacted several significant mortgage rule changes:

  1. Increased Insured Mortgage Cap: Effective December 15, 2024, the maximum price cap for insured mortgages has been raised from $1 million to $1.5 million. This adjustment allows buyers in high-cost markets, such as Victoria, to qualify for mortgages with a down payment of less than 20%.

  2. Extended Amortization Periods: The government has expanded 30-year amortization options to all first-time homebuyers and purchasers of newly built homes. This change, effective December 15, 2024, aims to lower monthly mortgage payments.

Navigating the Path Forward

In these times of economic change, it's essential to approach home buying and ownership with a blend of optimism and caution. The recent policy shifts are designed to support Canadians in achieving their homeownership goals, but individual circumstances vary widely.

Engaging with a knowledgeable REALTOR® can provide personalized insights tailored to the Greater Victoria market. Additionally, consulting with financial advisors can help in understanding the long-term implications of mortgage choices and ensuring that decisions align with both current needs and future aspirations. Should you find yourself with real estate questions to your specific situation, please reach out - we’d be happy to hear from you.

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New property listed in SE Mt Tolmie, Saanich East

I have listed a new property at 1610 Howroyd Ave in Saanich. See details here

Bright, Move-In Ready Rancher in Prime Location! Discover one-level living in a friendly, walkable neighborhood near UVic, all levels of schools, shops, & parks. This 3-bedroom, 2-bath home boasts natural gas radiant in-floor heating, 2-head ductless heat pump for heating & cooling, gas fireplace, 200 amp service & recent updates, including a new front door, appliances, gas boiler, landscaping, plus more. There are two crawl spaces for added storage. A unique highlight is the custom-built 2021 TINY HOME by Saltspring Island Tiny Homes. Perfect as an office, guest space, teen retreat, studio, or home-based business, it offers a queen loft, compostable bathroom, kitchenette potential, & a ductless heat pump for year-round comfort. Enjoy the professionally designed native plant garden in the front yard, while the spacious backyard includes a gas outlet for BBQing or a cozy outdoor fireplace. With charm, versatility, and a sought-after location, this home is truly a rare find!

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Open House. Open House on Saturday, January 11, 2025 2:00PM - 4:00PM

Please visit our Open House at 1610 Howroyd Ave in Saanich. See details here

Open House on Saturday, January 11, 2025 2:00PM - 4:00PM

Bright, Move-In Ready Rancher in Prime Location! Discover one-level living in a friendly, walkable neighborhood near UVic, all levels of schools, shops, & parks. This 3-bedroom, 2-bath home boasts natural gas radiant in-floor heating, 2-head ductless heat pump for heating & cooling, gas fireplace, 200 amp service & recent updates, including a new front door, appliances, gas boiler, landscaping, plus more. There are two crawl spaces for added storage. A unique highlight is the custom-built 2021 TINY HOME by Saltspring Island Tiny Homes. Perfect as an office, guest space, teen retreat, studio, or home-based business, it offers a queen loft, compostable bathroom, kitchenette potential, & a ductless heat pump for year-round comfort. Enjoy the professionally designed native plant garden in the front yard, while the spacious backyard includes a gas outlet for BBQing or a cozy outdoor fireplace. With charm, versatility, and a sought-after location, this home is truly a rare find!

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December 2024 Victoria, BC Market Update

As 2024 comes to a close, the Victoria real estate market appears to have maintained a sense of calm and predictability throughout the year. December saw 421 properties sold—an increase of approximately 28% compared to December 2023 but a decrease of 23.6% from November 2024.

A Gradual Rise in Sales

Over the course of 2024, approximately 6,893 properties were sold—an 11% rise compared to 2023. December’s sales, in particular, reflect notable year-over-year increases in several property categories:

  • Single-family homes: About 191 units sold, reflecting a 20.9% increase year-over-year from December 2023.

  • Condominiums: Approximately 135 units sold, a 25% uptick year-over-year from December 2023.

  • Townhomes: Around 52 units sold, showing an impressive 33.3% rise​ year-over-year from December 2023.

These trends suggest a market that may be leaning toward balance, offering both buyers and sellers opportunities to make confident decisions. That said, December’s active listings were down to 2,290—a decrease of 19.3% compared to November.

Trends in Home Prices

Home prices have remained relatively consistent, offering buyers and sellers a degree of predictability. In December 2024:

  • The benchmark price for single-family homes in the Victoria Core was approximately $1,306,400, a modest 2.7% increase from December 2023​.

  • Condos, on the other hand, experienced a slight dip, with the benchmark value around $547,800, a 1.6% year-over-year decrease but a small increase from November 2024​.

While these figures suggest stability in pricing, local factors such as demand and inventory levels could shift the landscape moving into 2025.

Looking Ahead: What Might Influence 2025?

The future of the real estate market is influenced by many variables, and while we cannot predict outcomes, a few ongoing trends may shape what’s to come:

  • Recent changes to amortization periods and property transfer tax thresholds may provide additional opportunities for first-time buyers.

  • Interest rate stability could help more people feel confident in making their next move​.

However, with inventory levels remaining relatively low, any significant uptick in demand could put upward pressure on prices. Efforts to encourage gentle density development could also play a role in easing supply constraints and creating more housing options.

The information provided in this update is general in nature and intended to offer a broad overview of market activity. It is not a substitute for personalized advice. Every real estate journey is unique, and we encourage you to consult with us for information tailored to your specific circumstances.

Let’s Plan for Success Together

Whether you’re considering buying, selling, or simply exploring your options, having a strategy tailored to your goals is key. Let’s connect to discuss how we can help you navigate the market in 2025 with confidence and clarity.

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