Why Victoria’s Real Estate is so Hot
Posted by Scott Garman on
Victoria, British Columbia can be described in numerous ways but the words that first come to mind are diverse and luxurious. Settled on the most southern tip of Vancouver Island, Canada, Victoria has tons to offer from hot housing markets, to a variety of pristine 18 hole golf courses. With gorgeous ocean views, a variety of small intimate communities and plenty of good food and wine it’s become a place you have to see to believe. “Our market is sizzling hot and inventory is tight, (source), can best describe Victoria’s housing market. “Victoria home prices have surged, and the driving force behind the hot market has a familiar ring – offshore buyers, (source).” This wave of purchasers aren’t boarding a long overseas flight but taking the 95-minute ferry ride to Vancouver Island. “Local agents noticed that the housing market began perking up in February, 2016, when the ratio of sales to active listings surged from the previous month. The rally continued through the spring, and displayed staying power. In the Victoria region, real estate agents consider it to be a buyer’s market below 10 per cent for a sustained period and a seller’s market above 25 per cent. Last month, it was 64 per cent – 633 sales divided by 988 active listings, (source).” Victoria’s charm resides in its ability to offer something for everyone, making the locals stay put and visitors come back time and time again. “It attracts Canadian retirees and semi-retired professionals; demand for housing is coming from buyers priced out of Vancouver; and the luxury market is taking off, (source).” We want to highlight 3 of our favourite things about Victoria to showoff our amazing city:
- Did you know you can golf all year round here? “Victoria is a golfer's dream. With a climate that encourages golfing year-round, Victoria and Vancouver Island are home to many of Canada's most beautiful and challenging courses, (source).
- Craft beer, local distilleries and cider…need we say more. “With thirteen craft breweries right in town and several handfuls of unique restaurants whose menus are built to showcase local beer, it is clear that a dedication to high-quality, locally-made brews is a key component of Victoria's distinctive culture, (source).”
- Victoria is home to B.C’s best hiking trails! “The region’s terrain and climate offer a scenery of rolling hills, plenty of lush, moss covered forests, and spectacular coastal views, (source).”
As Victoria natives we are huge resources for all things Victoria and have a huge amount of experience in local markets. With this intimate knowledge and understanding of the city we ensure that our clients truly get the best regardless if they’re selling or buying. We love Victoria ourselves and want others to enjoy its beauty just as much as we do. Interested in talking with us or have questions about Victoria’s markets? Contact us!