Victoria BC Community Blog

Update on Market Conditions in Greater Victoria Tag: housing forecasts

Posted by Niels Madsen on September 15, 2024

Estimated Read Time: 4 minutes

Understanding the real estate market in Greater Victoria is key for anyone considering buying or selling a property. Our region's housing market is influenced by several factors, such as seasonality, interest rates, and economic trends, which can impact both home prices and the speed of sales. As with any market, conditions can shift rapidly, and staying informed is essential. Here are a few updates on how the market is performing.

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Update on Market Conditions in Greater Victoria and Why It Matters Tag: housing forecasts

Posted by Niels Madsen on August 15, 2022

Estimated Read Time: 4 minutes

Being able to provide knowledgeable and effective real estate advice to our clients is a key part of the service we provide, and in order to do that, we need to have an understanding of a wide variety of factors, including market trends and outlooks for the region.

However, it’s not just professionals that can benefit from that knowledge. For homeowners and prospective buyers, knowing what’s happening can help you make informed choices, and guide your decision making process. 

With that in mind, here’s why buying and selling at the right time is so important, and what the market conditions in Victoria are telling us about whether now is the right time for you to make your move.   

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Your BC Property Assessment Explained: What Is It, What Does It Mean, and What Are The Tax Implications Tag: housing forecasts

Posted by Niels Madsen on January 20, 2020

Estimated Read Time: 3 minutes

As it’s January, it’s once again time for property owners in BC to receive their annual property assessment from BC Assessment. Even if you aren’t planning on buying or selling immediately these are important documents. And you should take the time to understand what they mean for you. Here’s our primer on what you need to know about your BC Assessment. 

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2017 Victoria Housing Market Forecast Tag: housing forecasts

Posted by Niels Madsen on January 5, 2017

Estimated Read Time: 4 minutes

In 2016, the Victoria real estate market broke records across the board: over 10,000 transactions took place, the most ever since the Board began tracking the number in 1990. Real estate values for single family homes increased 20% overall, with increases ranging as high as 37% in the Victoria core.

The Canadian Housing Market Association (HMA) has warned of the problems arising from real estate price increases and overbuilding across the country, but predictions are hopeful that the market will slow and stabilize by 2018.

I'll be taking a detailed look at the real estate market forecast for Victoria in 2017, as predicted by a number of leaders in the industry.

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Victoria Housing Forecast For 2016 Tag: housing forecasts

Posted by Niels Madsen on February 22, 2016

Estimated Read Time: 3 minutes

With the release of housing market reports from the Canada Mortgage and Housing Corporation (CMHC), VREB, Royal LePage, and other real estate and economic organizations over the past few months, a picture of the Victoria housing market in 2016 is slowly starting to come together. The majority of available reports focus on Vancouver and BC as a whole, but as the Victoria market takes cues from the mainland, our outlook doesn't look to be too different. Here's what we keep seeing.

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