2009 - A Year of Recovery for Victoria Area Real Estate Market

Last year was marked by a surprising and strong recovery for the Victoria area real estate market following the slowdown in 2008 and the early part of 2009.

Total sales of homes and other properties rose by 24% compared to 2008 while the value of all property transactions through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) system rose over 20% to nearly $3.8 billion.

Victoria Real Estate Board President Randi Masters says the strength of the recovery came as a welcome surprise, "Given the significant world-wide economic downturn we were very pleased to see the real estate market recovering so quickly. With interest rates expected to remain low in the coming months, we are anticipating a strong and balanced market in the coming year." Masters noted that while sales rebounded strongly last year, overall average prices showed little change compared to 2008.

The overall average price for single family homes declined by less than 1%, condominium prices declined by less than 3% and townhome prices remained essentially unchanged. Masters added that December saw a normal decrease in sales compared to November with some minor fluctuations in prices.

The average price of single family homes in Greater Victoria last month was $651,316. Sixteen sales of over $1 million, including one sale in Central Saanich of over $5 million affected the overall average. The six-month average was $601,237 while the median price was significantly lower at $555,000.

The average price of all condominiums sold in December was $345,907; the average for the last six months was $324,919 while the median was $289,000. The average price of all townhomes sold last month was $477,998; the six-month average was $450,305 and the median was $422,500.

MLS® sales last month included 246 single family homes, 115 condominiums, 44 townhomes and 12 manufactured homes. Masters noted there has been a substantial decline in the number of properties available for sale, "As of the end of December, there were 2,557 properties available for sale -- down 33% from a year earlier."

Courtesy of the Victoria Real Estate Board, 3035 Nanaimo Street Victoria, British Columbia V8T 4W2, CANADA

Quick and Chilly .... The 34th annual Polar Bear swim at Elk Lake is happening today - January 1, 2010. The dippers/swimmers/divers/pushers-in/toe testers,  dash into the north end of Elk Lake in Victoria, BC and usually there are about 600 people taking part!

At least the weather is a mild 9 degrees Celcius today, unlike last year's snowy wintery weather.

My very best wishes to all on Active Rain during this holiday. I hope for peace and joy for the Christmas season and throughout the New Year.

VICTORIA, known as the City of Gardens also has some fantastic mountains and hills from where you can view the ocean, snow-capped mountains and the City of Victoria itself.

Having recently sold a lovely home in the Mt. Tolmie area I thought it might be an idea to list some of the mountains around our beautiful city.

Mt. Tolmie, located in Saanich East, was officially named in 1934 after Dr. William Frazer Tolmie, a biologist. Here you can view a virtual tour from Mt. Tolmie  showing the best 360-degree panoramic view of Victoria and the surrounding areas. On clear days you can also see the Cascade and Olympic mountains in Washington State, as well as the Gulf and San Juan Islands.

Mt. Douglas, also in Saanich East, is a prominent 260 m (850 ft) hill, was named for the second governor of the Colony of Vancouver Island, Sir James Douglas. The whole of Mt. Doug (as it is known locally) and the surrounding areas are protected by a 450 acre municipal park. The many trails, mature second growth forest and fantastic vistas of the city make the area a popular destination for both locals and tourists.  Here is the virtual tour from the top of Mt. Doug

Bear Mountain in the Highlands, Mt. Matheson in East Sooke, Triangle Mountain in Colwood, and Mt. Finlayson in Goldstream Provincial Park, are other wonderful mountains and hills.

Craigdarroch Castle was built in the 1890's by Robert Dunsmuir, a wealthy coal baron. The four storey castle, now owned by the Craigdarroch Castle Historical Museum Society, has lavish Victorian furnishings and stained glass windows. Since 1994 the castle has been used in movies and theatrical productions. An Oak staircase leads visitors up 87 steps to the tower, which has a great view of  Victoria.

From the 1st to the 31st of December there will be 39 performances of seasonal music, stories and children's entertainment at the Castle.

Tours start at 6:30 pm and tickets are $14.50 CDN / $ 14.00 USD for adults,

$6.50 CDN / $ 6.00 USD for children 6-18;

children 5 and under are free.

The Royal couple, Charles and Camilla are visiting our beautiful city - they arrived late afternoon yesterday, and although Camilla admitted to being a bit jet-lagged they were "on show" for a few hours on the lawns of the  Legislature. The crowds welcomed them and even though a lot of people couldn't care less about the Royal family, the people of Victoria always turn out to see and cheer them.

It won't be long before they will be back again for the Winter Olypics in February 2010, in nearby Vancouver and Whistler. But for now, I'm sure they will enjoy our city which is now splendid in Autumn colours, with the golden leaves falling on the ground.

Photo Victoria Times Colonist

#6 Island on Sparkling, Pristine Cowichan Lake, Sheltered Amongst the Mountains of the Cowichan Valley ...

On British Columbia's beautiful Vancouver Island, it is rare to find a private island available for purchase. Enjoy relaxing, adventure and building your personal retreat. Access is an easy 0.31km (310 metres) to this beautiful 3.69 acre island on Cowichan Lake. The Cowichan Valley is world renowned as an exceptional recreation area, with sport fishing, hiking and water sports.

You can feel miles from everywhere, yet the island is actually highly accessible and convenient to amenities. Here is a wonderful opportunity to own your island paradise, in this emerging waterfront market.

For more photos, virtual tour and information please view my website:

www.victoriahomesbc.ca

or

www.david-stevens.ca

Sept. 2009 Property Sales Highest in 17 Years for Month of September!

The Victoria area real estate market showed signs of growing strength last month as property sales rose to their highest level for the month of September since 1992 accompanied by modest price increases for single family homes and condominiums.

A total of 776 homes and other properties sold in September through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), up from the 764 sales in August and up nearly 50 per cent compared to the 512 sales in September of last year.

Victoria Real Estate Board President, Chris Markham, says the market has clearly recovered and now appears to be very stable, "The last seven months have shown a steady improvement in sales and price stability. It’s very encouraging when we look back over the past several years and see sales now exceeding typical levels for this time of year."

There were 3,419 properties available for sale at the end of September, down 28 per cent from the 4,754 properties available in the same month a year ago. "We are now seeing some renewed upward pressure on prices as a result of the declining inventory," noted Markham.

The average price for single family homes sold in Greater Victoria last month was $619,936, up from $596,498 in August. Markham noted that the average price was affected by 24 sales of over $1 million. "These included five sales of over $2 million, three in Saanich East, one in Victoria and one on the Gulf Islands which had a significant impact on the overall average price," he stated. The median price increased $10,000 to $550,000. The six-month average was $581,498.

The overall average price for condominiums was $325,106 last month, up from $317,312 in August. The average for the last six months was $311,546. The median price for condominiums in September was $295,000. The average price of all townhomes sold last month was $441,966 down from $455,430 in August. The median price dropped slightly to $415,000. The six month average was $426,521.

MLS® sales last month included 437 single family homes, 197 condominiums, 79 townhomes and 15 manufactured homes.

Taken from the Victoria Real Estate Board website.

OPEN HOUSE:

2146 Nicklaus Drive, Victoria, BC

Date: Saturday and Sunday, October 3 & 4, 2009

Time: 1:00 - 4:00 pm

$1,195,000

Dreams become reality in this gorgeous custom home.

The spacious open plan rooms take full advantage of one of the premier Bear Mountain fairway lots, showcasing panoramic mountain views with maximum privacy.

The Master suite covers the entire top floor. The two-level main floor foyer opens onto the Great Room, a gourmet kitchen and separate dining room and study.

Adjoining the entertainment sized (1775 sq. ft) terrace are the guest bedroom, games and media rooms and office.

Since my grandmother died her idyllic old stone house (well cottage really),  in Shropshire has been passed on to my Uncle. I thought I'd put a couple of photos on here to show you the old stone building.

The cottage, built in the early 1800's and sitting in the hillside, originally belonged to the local Farrier. The stables are in the smaller building to the right. The house has 2 ft thick walls, original beams, and an original wooden spiral staircase leading up to 3 small bedrooms. It's a fantastic place in summer, but can be quite cool in winter, even with the open fire and Aga. The lane is only wide enough for one car at a time, and when the flock of sheep come running down it you have to back up the lane to the nearest grassy bank to allow them to pass.

Below is another view from Moelydd Hill, which is part of Offa's Dyke, described by Wikipedia as:

Offa's Dyke (Welsh: Clawdd Offa) is a massive linear earthwork, roughly following some of the current border between England and Wales. In places, it is up to 65 feet (20 m) wide (including its surrounding ditch) and 8 feet (2.5 m) high. In the 8th century it formed some kind of delineation between the Anglian kingdom of Mercia and the Welsh kingdom of Powys. It has been the subject of considerable research in recent years, dispelling many of the earlier understandings.