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Commentary on the Victoria Real Estate Market Report for September 2024

Market Conditions: A Balance Between Buyers and Sellers

The Victoria real estate market has become increasingly balanced, offering benefits to both buyers and sellers alike. In September 2024, 571 properties were sold, marking a 15.8% increase from the same time last year and a 4.8% increase from August. Notably, condominium sales surged by 21.9%, while single-family home sales rose by 19.3%. This steady increase in sales reflects a more predictable and stable environment, unlike the frenetic pace of the past few years.

According to Laurie Lidstone, Chair of the Victoria Real Estate Board, “With downward trending interest rates and stable pricing combined with more inventory on the market, our current conditions are the most comfortable for consumers to navigate that I’ve seen in a few years.” This points to a healthier balance in the market, where neither buyers nor sellers hold all the power.

Inventory and Pricing: Key Opportunities

One of the most striking figures from the September stats is the rise in available listings. There were 3,361 active listings at the end of September 2024, a 5.3% increase from August and a 24.5% jump from last year. This expanded inventory gives buyers more choice, reducing the high-pressure situations of the past.

Pricing remains stable but competitive. The benchmark value for a single-family home in the Victoria Core decreased by 2.8% from last year, sitting at $1,279,700. Similarly, condominium prices in the core area dropped by 5.1%, now at $553,400. While pricing remains attractive, some properties, especially those with the right combination of location, design, and price, are still experiencing competitive offers. Buyers need to stay diligent, and sellers can take advantage of market conditions that encourage strategic timing and presentation.

The Path Forward: How to Succeed in This Market

With the current balanced market conditions, it’s an excellent time to make your move—whether you’re buying or selling. Buyers can benefit from lower interest rates and increased choices, while sellers can rely on stable pricing to achieve strong outcomes. As always, working with an experienced REALTOR® can help you navigate the nuances of the market and build a successful real estate strategy.


If you would like to schedule a time to talk about what these stats mean for you as a buyer or seller, don’t hesitate to contact me.

Contact Marilyn

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New property listed in CS Brentwood Bay, Central Saanich

I have listed a new property at 1337 Marchant Rd in Central Saanich.
Welcome to this Inviting Executive duplex that feels like a Single Family home (no strata fees or meetings!) offering Incredible Value and Designer features, with thousands spent on tasteful updating both inside & out. The Architectural details incl. high ceilings, crown moldings, a magazine-worthy spiral staircase, Kitchen with stainless appliances, engineered hardwood floors, quartz counters and heated tile floors, gas Fireplace, plantation shutters ...the list goes on and on! This Haven boasts a private backyard with mature gardens, patios, newer sun awning, single garage, and a separate garden shed that would make an awesome playhouse or "She-Shed"! The Front Verandah provides a neighbourly feeling. Located in coveted Brentwood Bay near shops, transit, schools, and most importantly waterfront strolls, kayaking, etc. just down the street! Close to famed Butchart Gardens, Blues Bayou Restaurant, Anglers Marina, Mill Bay Ferry, Brentwood Bay Resort and Spa, and much more. Sea it soon.
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Open House. Open House on Saturday, October 5, 2024 11:00AM - 12:30PM
See this captivating NYC style spacious and freshly painted Penthouse with lots of natural light and a bonus Den in the charming town of Sidney for your ultimate Seaside Lifestyle!

Please visit my Open House at 410 9840 Fifth St in Sidney.
Open House on Saturday, October 5, 2024 11:00AM - 12:30PM See this captivating NYC style spacious and freshly painted Penthouse with lots of natural light and a bonus Den in the charming town of Sidney for your ultimate Seaside Lifestyle!
PRESTIGIOUS PENTHOUSE at The Beaufort! …Feel like you are in NYC with this VIEW condo that offers an architecturally interesting, open-plan concept with high ceilings, floor to ceiling windows, and an entry Skylight adding more natural light. Freshly painted with neutral colours, this Chic Residence provides a spacious Primary bedroom with a wall of windows, separate Den, a Juliet balcony, and an ergonomic Chef's style kitchen with bonus sit-up counter and pantry, perfect for Entertaining! The popular and well-managed building was quality built in 2004 with underground secure parking, storage lockers and a bike room, so your every need is met. The convenient location is just steps to transit, fabulous shops, a plethora of services, excellent Dining, and the Waterfront via a beautiful public walking path just a few blocks away. Pet friendly, rentals allowed, and no age restrictions complete this rare Executive package at an affordable price! This won't last. Arrange your Showing soon.
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Open House. Open House on Sunday, October 6, 2024 11:00AM - 12:30PM
See this captivating NYC style spacious and freshly painted Penthouse with lots of natural light and a bonus Den in the charming town of Sidney for your ultimate Seaside Lifestyle!

Please visit my Open House at 410 9840 Fifth St in Sidney.
Open House on Sunday, October 6, 2024 11:00AM - 12:30PM See this captivating NYC style spacious and freshly painted Penthouse with lots of natural light and a bonus Den in the charming town of Sidney for your ultimate Seaside Lifestyle!
PRESTIGIOUS PENTHOUSE at The Beaufort! …Feel like you are in NYC with this VIEW condo that offers an architecturally interesting, open-plan concept with high ceilings, floor to ceiling windows, and an entry Skylight adding more natural light. Freshly painted with neutral colours, this Chic Residence provides a spacious Primary bedroom with a wall of windows, separate Den, a Juliet balcony, and an ergonomic Chef's style kitchen with bonus sit-up counter and pantry, perfect for Entertaining! The popular and well-managed building was quality built in 2004 with underground secure parking, storage lockers and a bike room, so your every need is met. The convenient location is just steps to transit, fabulous shops, a plethora of services, excellent Dining, and the Waterfront via a beautiful public walking path just a few blocks away. Pet friendly, rentals allowed, and no age restrictions complete this rare Executive package at an affordable price! This won't last. Arrange your Showing soon.
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New property listed in Si Sidney South-East, Sidney

I have listed a new property at 410 9840 Fifth St in Sidney.
PRESTIGIOUS PENTHOUSE at The Beaufort! …Feel like you are in NYC with this VIEW condo that offers an architecturally interesting, open-plan concept with high ceilings, floor to ceiling windows, and an entry Skylight adding more natural light. Freshly painted with neutral colours, this Chic Residence provides a spacious Primary bedroom with a wall of windows, separate Den, a Juliet balcony, and an ergonomic Chef's style kitchen with bonus sit-up counter and pantry, perfect for Entertaining! The popular and well-managed building was quality built in 2004 with underground secure parking, storage lockers and a bike room, so your every need is met. The convenient location is just steps to transit, fabulous shops, a plethora of services, excellent Dining, and the Waterfront via a beautiful public walking path just a few blocks away. Pet friendly, rentals allowed, and no age restrictions complete this rare Executive package at an affordable price! This won't last. Arrange your Showing soon.
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Open House. Open House on Sunday, September 22, 2024 11:00AM - 12:30PM
Beautifully updated home! Fabulous new price, now $949,800! Please leave all offers open for 24 hours. (Seller lives in remote area). In the spring, the backyard is filled with purple

Please visit my Open House at 4101 Mariposa Hts in Saanich.
Open House on Sunday, September 22, 2024 11:00AM - 12:30PM Beautifully updated home! Fabulous new price, now $949,800! Please leave all offers open for 24 hours. (Seller lives in remote area). In the spring, the backyard is filled with purple camas flowers, and Fawn Lilies. It is quite beautiful! You can of course develop it further as it is already terraced, and do Alpine planting, etc.. It’s all about having an easy garden with no mowing required!
4101 Mariposa Hts. Embrace Mid-Century Modern style vibes at a starter home price! This open-concept home features vaulted ceilings and lovely pastoral views overlooking Panama Flats. Ideal as a first home or downsizing oasis, it combines condo-like convenience with the autonomy of a single-family home—without strata fees or lawn care! The primary bedroom has a 4-piece ensuite with heated floors, and the Chef's kitchen includes a built-in oven, Fisher & Paykel fridge, and new cooktop. Enjoy beautiful views from your very spacious deck, perfect for entertaining. Recently updated throughout, this haven offers peace of mind.The lower level includes two flexible bedrooms/offices and a 4-piece bath. The spacious garage features a built-in workbench and cabinets. Keyless entry adds convenience, and the private cul-de-sac location in Strawberry Vale offers tranquility and friendly neighbors. Perfect for Executives or anyone seeking Style at a low price. Book your showing Soon—this won't last!
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Open House. Open House on Sunday, September 15, 2024 11:00AM - 12:30PM
Beautifully updated home! Fabulous new price, now $949,800! Please leave all offers open for 24 hours. (Seller lives in remote area). In the spring, the backyard is filled with purple

Please visit my Open House at 4101 Mariposa Hts in Saanich.
Open House on Sunday, September 15, 2024 11:00AM - 12:30PM Beautifully updated home! Fabulous new price, now $949,800! Please leave all offers open for 24 hours. (Seller lives in remote area). In the spring, the backyard is filled with purple camas flowers, and Fawn Lilies. It is quite beautiful! You can of course develop it further as it is already terraced, and do Alpine planting, etc.. It’s all about having an easy garden with no mowing required!
4101 Mariposa Hts. Embrace Mid-Century Modern style vibes at a starter home price! This open-concept home features vaulted ceilings and lovely pastoral views overlooking Panama Flats. Ideal as a first home or downsizing oasis, it combines condo-like convenience with the autonomy of a single-family home—without strata fees or lawn care! The primary bedroom has a 4-piece ensuite with heated floors, and the Chef's kitchen includes a built-in oven, Fisher & Paykel fridge, and new cooktop. Enjoy beautiful views from your very spacious deck, perfect for entertaining. Recently updated throughout, this haven offers peace of mind.The lower level includes two flexible bedrooms/offices and a 4-piece bath. The spacious garage features a built-in workbench and cabinets. Keyless entry adds convenience, and the private cul-de-sac location in Strawberry Vale offers tranquility and friendly neighbors. Perfect for Executives or anyone seeking Style at a low price. Book your showing Soon—this won't last!
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