Going Coastal Real Estate on Southern Vancouver Island
Victoria’s #1 Real Estate Office* Market Update What’s Happening Today!
The volume of sales so far in 2018 across the Greater Victoria real estate market has seen a decrease of just a little over 10% of single family detatched homes (SFD) while the number of available homes has increased slightly. Recent changes enacted in the 2018 provincial budget imposing a 20% foreign buyer tax will stem the tide of a resurgent US buyer presence. The proposed speculation tax is also dampening some enthusiasm of our migrating Canadian neighbours who are being targeted by the tax as they buy 2nd homes in anticipation of retiring here. Additionally the superintendent of Real Estate and the Real Estate Council of BC are implementing changes how real estate is sold. A ban on dual agency is forthcoming and its impact is outlined in the article penned by the British Columbia Real Estate Association found on pages 8 & 9 of this issue. Sellers in the past often chose their Realtor known not only as listing agents but also represented many buyers in a certain area… going forward sellers are more likely to base their decision on whom they sell with based on their knowledge of the area and are likely to enlist property marketing specialists who also have a broader connection with Buyer agents as representing both buyers and sellers as a dual agent will no longer be permitted throughout most areas of the province including ours. It’s a challenging and changing market and one that requires you receive the very best real estate advice available about our local market. Whether you’re buying or selling you can count on our experience to help navigate your way to the best deal for you... we’re here to help.
About the cover…
Sandcut Beach just west of Sooke proper favoured by the locals is a relatively short hike from parking lot on West Coast Road... Photo courtesy: West Coast Tandem Photography
Your Home Team
* VREB Statistics 2018*
we know the market & the community
Cristina Staicu Personal Real Estate Corporation
Oliver Katz Personal Real Estate Corporation
MLS GOLD 2017
TRUSTED, PROFESSIONAL REAL ESTATE ADVISORS
MLS GOLD 2001 –2017
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