There is much talk these days about smaller spaces when it comes to real estate. We are more likely to be living and working in smaller spaces now than ever before they say. Creativity abounds and online sites such as Houzz https://www.houzz.com/ and House Beautiful https://www.housebeautiful.com/ provide endless kindling for our creative flames.
Have you ever wondered what it would be like to live in a tiny home or a much smaller space? Do you want to downsize and see it as part of a plan to simplify your life? I think about it personally and the first thing that comes to mind is anxiety! NO WAY!! I need my space, and my stuff! However, being raised by a ranger leader, swim-teacher, nurse and widowed mother of 8, means resilience and change are sewn right into my DNA! I know if I had to, I could do it. But that is a far cry from wanting to!
When we turn our attention to homes, we see the trend there as well. Tiny homes called garden suites are becoming more visible and viable in more communities across Canada including right here in Victoria and Saanich. Manufactured Home Parks are examples of communities that are plentiful here on the Island. And float home communities exist in many of the marinas on the Island as well, some of these small spaces are absolutely fascinating in design with features that are highly functional, multi-purpose and visually striking. Yes for many it is out of necessity, but for many still it is a clear and present lifestyle choice based on a way of life. Whatever the reason, if you choose to go that route, please make sure you take care to do your due diligence, all of the research required and of course I highly recommend that you work with an Agent to protect your best interests. Whether it’s a home with a price tag of $100K or $1M it’s a lot of money, your hard earned money, and it may be the largest investment you make in your lifetime. Act wisely to protect yourself during any transaction you are part of.
If you are currently in the market to make a purchase, or are considering making a purchase, there is quite a lot to choose from at the moment, and offers subject to inspection and/or finance are commonplace again, which makes it a much more practical experience. At this time there are:
Just over 1000 single family homes on market in the Victoria area including Victoria Core, Westshore and the Saanich Peninsula, 470 condos and 148 townhomes.
And in the Cowichan area there are 460 single family homes on market, 46 townhomes and 27 condos available.
There are also 135+ manufactured homes on the market in both these areas collectively.
From the $17M mansion overlooking Satellite Channel, to a darling little 377 square foot float home at Head St in Esquimalt, and literally everything in between, Victoria presently has a ton of great properties for sale. The news would have us believe that no one is buying or selling and that the market has grabbed a big blankie, tucked in and gone to sleep until spring 2023. I am here to tell you that it’s just not true!
The MLS® Home Price Index (HPI) is the most advanced and accurate tool to gauge a heighbourhood’s home price levels and trends, according to the Canadian Real Estate Association (CREA). The graphic below shows that the HPI benchmark prices are up19% from 2021 on Vancouver Island, and also up 18.1% in Victoria specifically from 2021.
There is uncertainty, inflation and rising interest rates and yet there will always be people who need to sell, move and buy. Why? A new job, a new school, a new life partner, aging parents, a death in the family, a growing family, a new pet, a family that wants to downsize…
If you are interested in speaking with me about the current market, buying or selling your home, or you have any real estate related questions or needs, I would love to connect with you at your earliest convenience.
Thanks for taking the time to read this and I hope you have found some of this information useful!
Happy Fall to you and your family, from my home to yours,
“To give real service, you must add something that can not be bought or measured with money, and that is sincerity and integrity.”
In addition to being a previous business owner, Jacqueline has over 20 years of experience in B2B sales and retail sales, a Diploma in Civil Engineering Technology, and has raised a family. These roles have allowed her to hone her skills under pressure, and develop effective negotiation skills. Originally from Victoria, she was fortunate to have a stable upbringing with time to play and explore the beaches and forests that the Island is known for. She is a volunteer for the Red Cross, and owns a home in the historic Village of Cowichan Bay with her husband John. She loves to sail, hike, swim, read and spend time with family. She has local knowledge of Greater Victoria, the Cowichan Valley, and the Nanoose/Parksville areas.
Vancouver Island is renowned for it's wild untamed beaches, hiking, camping and paddling, and of course it's lush vineyards. Let Jacqueline help you find your new home in the Mediterranean of the Pacific: Vancouver Island!