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The Victoria real estate market continues to remain stable and balanced this fall, and should remain so for the next few months. Sales jumped up from the September numbers, but remained lower than the November 2017. Listing inventory is also significantly higher than this time in 2017, leaving more choice for buyers. Currently, the average […]

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Posted on: 13-11-2018

The Victoria real estate market continues to stabilize as we enter the fall market and should continue to do so throughout the remainder of 2018. Prices have dropped slightly from the month of August and may continue to drop a bit further as the year progresses. Currently, the average price for a Single Family home […]

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Posted on: 19-10-2018

The Victoria real estate market is still strong but showing signs of slowing down this fall. Prices seem to have plateaued as the July and August average prices have hit a ceiling. The average price for a Single Family home is sitting at about $880,000. The number of monthly sales are also lower, but this […]

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Posted on: 27-09-2018

  The weather has been very hot in Victoria over the last few weeks and the forecast appears to be continued sunshine. This usually results in a slower real estate market, with fewer sales, as most of us are out enjoying the last month of summer before the kids go back to school. Our grand […]

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Posted on: 15-08-2018

Summer is in full swing! July weather in Victoria is currently sunny, in the high 20’s, and showing no signs of letting up. The real estate market is usually slower in July, which gives us realtors a chance to relax and enjoy some down time with family and friends. I hope you are also enjoying […]

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Posted on: 16-07-2018

Hello again, Here is the inaugural email of my new monthly Victoria Real Estate Update. The goal of my email updates is to provide you with current real estate market statistics, some commentary about the local housing market and some real estate related links and articles to assist you with any of your real estate […]

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Posted on: 14-06-2018

The Victoria real estate market has started out very strong in 2018. Prices have remained high, with the average price of a single family home chalking in at just over $831,000, which is about 10% higher than a year ago. Condos, at $445,000 average price, are up 20% from one year ago. Sales have softened […]

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Posted on: 13-02-2018

The Victoria real estate market is undergoing a slight change as the strong market continues into the fall. The average prices appear to have hit a peak as this summer experienced a small price drop for the first time in almost 2 years. The overall listing inventory has increased slightly in September compared to the […]

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Posted on: 18-10-2017

The smoke has finally cleared from the air in Greater Victoria, but the fires throughout BC are still burning. Let’s hope some rain comes soon. This summer has been extremely dry as Victoria was on the verge of breaking a 53 day record of no rain set in 1986, but some rain finally came late […]

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Posted on: 15-08-2017

The real estate market has been very busy again in 2017. This is great news if you are a seller, as prices are up about 20% from one year ago in almost all regions of Greater Victoria. Sales have slowed slightly from the records set in 2016 but only because there are not enough properties […]

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Posted on: 28-04-2017

2017 is already into it’s second month and who would have thought that Victoria would have received a severe snowfall in early February? The real estate market is always temporarily frozen when Victoria gets a snow fall, but things should be back to normal in the next day or so, as the snow is melting […]

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Posted on: 09-02-2017

Government Intervention – Good or Bad? Wow! The Canadian and BC Governments are sure getting involved with the real estate market in Canada this year, with the intent to try and make real estate more affordable, help Canadians stay in a safer debt range, and to bring in extra tax revenue. The ultimate looser in […]

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Posted on: 27-10-2016

Greater Victoria Real Estate Summer Outlook The BC Real Estate market has been extremely busy, and the Victoria market has experienced record sales volumes and record price increases over the last 3 months. Also, the BC Government has stepped in to intervene in the market with a number of measures that they feel will help the […]

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Posted on: 04-08-2016

Greater Victoria Real Estate Spring Outlook If you have read my blogs over the last few years you would see that the Victoria Real Estate market was undervalued and ready for a significant market upturn. However, no one could have predicted the rapid ascent that has transpired over the last 60 days. Interest rates for […]

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Posted on: 28-04-2016

The Greater Victoria real estate market has been extremely busy so far in 2016. The average prices are up 10% from a year ago, and the listing inventory is down about 25% from a year ago (3200 down to 2400). Sales increased by 50% this January over last. Interest rates are still at historic lows. […]

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Posted on: 09-02-2016

  This fall has been full of surprises. The Blue Jays are in the playoffs, the Canucks started out with a bang, The Seahawks are losing, and oh yeah, Canada has a new Prime Minister – Justin Trudeau of the Liberals. I watched CNN for a while after our election results were finished, and low […]

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Posted on: 22-10-2015

Victoria really needs rain. Usually this is not a problem in our region, except for this year. 4 months of almost non-stop clear sunny days has been remarkable for outdoor activities and fun in the sun, but it has been hard on the plants, trees, grass and water reserve. The real estate market has been […]

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Posted on: 12-08-2015

The Victoria real estate market is experiencing a surge that has not been experienced since the start of 2010. We have had a large increase in the number of sales this year, and a definite firming up of pricing. In some areas, there has been an increase in the number of homes selling above their […]

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Posted on: 22-04-2015

2015 Real Estate Outlook Most Victoria real estate analysts are predicting a similar year to what we just experienced in 2014, which ended with an 11% increase in sales from the previous year combined with an approximate 10% drop in listing inventory, and a 1.8% increase in overall single family home prices. The result was […]

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Posted on: 24-02-2015

  The Victoria real estate market has continued to impress forecasters over the last few months. The overall sales are up about 12% from 2013, and the listing inventory is down about 7%. There are still about 4200 listings on the market for sale, so there is a lot of good choice for buyers. However, the […]

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Posted on: 17-10-2014

The Victoria real estate market has been very active this summer, and the number of sales have increased significantly compared to 2013. This is great news. Prices are still flat, but that works out well for buyers and sellers that are re-purchasing. Interest rates are remaining at record lows, and all signs are leading to […]

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Posted on: 08-08-2014

Positive Cash Flow on an Investment Property Unlike Vancouver with their souring prices, increased sales and increased building starts, Victoria is still lagging behind like most cities across Canada. Victoria had a small increase in sales in March, but still trails the 5 year average. Listing inventory has dropped slightly, but still only 1 in […]

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Posted on: 16-04-2014

2014 Real Estate Outlook Most Victoria real estate experts are predicting a similar year to what we just experienced in 2013, which ended with a 4% increase in sales, about a 10% drop in listing inventory, and about a 3% drop in overall average prices. The result was a pretty stable market which slightly favored […]

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Posted on: 30-01-2014

The Victoria real estate market experienced a decent summer for sales in 2013, charting the highest number of combined sales in 4 years. The fall has started out a tad slower. I think that the busy summer was a result of the mortgage rate increases for 5 year terms earlier in the year, and as a result of a […]

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Posted on: 15-10-2013

The Victoria real estate market has picked up slightly in the 2nd quarter, but it is still going to remain more of a buyers market for the balance of the year. Sales are following a similar path to 2012, but listing inventory is down about 8% from a year ago. If this trend continues, we should […]

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Posted on: 17-07-2013

The Victoria real estate market is definitely in for another soft year, as the first quarter experienced a continued slow down in sales, and some similar price drops. The listing inventory is still high, and the number of sales are still about 30% off the busy market cycle peaks from 2002-2008. This supply demand ratio will […]

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Posted on: 09-04-2013

The Victoria real estate market is probably in for another soft year in 2013. The listing inventory is still high, and the number of sales are still about 30% off the busy market cycle peaks from 2002-2008. This supply demand ratio will ultimately lead to a continued softening in prices for most sectors of the market. […]

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Posted on: 22-01-2013

I am always asked the question – where do I see the Victoria real estate market going in the next few months or the next few years. Based on my experience, there is no definitive answer to that question. I have been selling real estate since 1991, and I have been through the last slow […]

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Posted on: 12-10-2012

We now find ourselves with the first half of the year officially behind us…..we hope the year has been good to you so far! It has definitely been great for home buyers in the Greater Victoria area where we have nearly 5200 homes for sale!!! This market has been much harder on sellers, with only about 1 in […]

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Posted on: 09-08-2012

The market is still fairly slow in Victoria, but we have seen an increased amount of activity on listings over the last week. I think that we will see some increased sales activity over the next few months. I have just released my latest quarterly newsletter. Click on the following link for details: https://www.dalesheppard.com/newsletter/Newsletter_Winter_2012.pdf Also, […]

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Posted on: 23-04-2012

Has the BC government finally realized that the HST has not helped the housing market in this current economic downturn? It appears so, and it is now trying to breathe some new life into the market by finally doing the right thing. Not only did they commit to a date of HST elimination, April 2013, […]

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Posted on: 20-02-2012

I have just released my latest quarterly newsletter. Click on the following link for details: https://www.dalesheppard.com/newsletter/Newsletter_Winter_2012.pdf Also, the Victoria Real Estate Board has a wide array of housing statistics for the Greater Victoria area. You can find average prices for the last 22 years, plus an average price chart dating back to 1978. Also, the […]

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Posted on: 24-01-2012

Renovating your home can bring great financial rewards, if done properly. Especially if you are planning to sell in a slower market like we are currently experiencing. With so many homes on the market, today’s homebuyer have a lot of choice, and a lot of time to eliminate homes that may require major upgrades and […]

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Posted on: 23-01-2012

With the rapid fluctuations in the real estate market of late, house prices can quickly go up or down in value, resulting in annual property assesment values that appear significantlyout of line with the current market. Also, with the time lag delays in receiving the actual assessments verse the time it takes the market to change, it can be […]

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Posted on: 09-01-2012

The holiday season is rapidly approaching. This means that the real estate market will slow considerably over the next few weeks. However, that does not mean that it is a bad time to sell. In fact, this time of the year is actually a great time to sell. The main reason is that the listing […]

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Posted on: 09-12-2011