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Real Estate in the Westshore
West Shore has become one of the fastest growing areas of Victoria BC as the number of homes, businesses, and opportunities have continued to increase. West Shore’s population growth is due to the heightened demand for land in the CRD and the decreasing availability of land in the City of Victoria. Home to five suburban municipalities including Colwood, The Highlands, Langford, Metchosin, and View Royal, homebuyers are looking to the municipalities of West Shore for affordable and diverse housing options. If you’ve ever thought about investing in one of these areas, continue reading to learn more about what each municipality has to offer.
City of Colwood
Colwood offers a variety of different recreational pursuits to please everyone. Whether you enjoy hitting the gym, checking out the nature reserve, or playing golf, Colwood offers a wide range of activities to enjoy. In the summer time, the beach is a popular spot for sun tanning, swimming, wind-surfing, sailing, and walking.
District of Highlands
Many people choose to live in the Highlands because of its rural character, natural beauty, and environmentally conscious efforts. Residents are encouraged to build their homes with the least environmental impact by minimizing vegetation removal, and using materials that blend in with the landscape.
City of Langford
Langford is a young, growing community of over 25,000 people with ambition of a modern, West Coast style. Langford offers a large number of lakes and parks including Thetis Lake, Langford Lake, and the popular Goldstream Park. Langford’s population is flourishing, and is the fastest growing municipality in the CRD.
District of Metchosin
Metchosin is a rural community that offers great horseback riding trails, nature parks, and oceanfront areas. There are many community events to enjoy such as the Farmers Market, Pioneer Museum and Book Sales, and the Poultry Swap.
Town of View Royal
View Royal has a thriving arts community with visual and performing arts being central to many in their day-to-day lives. There are also numerous community facilities and recreational services, such as the public library, Juan de Fuca Recreation Centre, and public parks.
Whether you’re looking to invest in the West Shore because of it’s affordable and diverse housing options, community events, natural beauty, or growing population, you are guaranteed to be making the right choice. To learn more about what the West Shore has to offer, contact me today.
Victoria Real Estate Market Inventory Edges Up, Sales Still Constrained
May 1, 2017 - "The numbers we saw in April are a further indication that the market is gradually moving towards a more balanced state compared to the record setting pace of 2016." says 2017 Board President Ara Balabanian.
A total of 885 properties sold in the Victoria Real Estate Board region this April, 31.2 per cent fewer than the 1,286 properties sold in April last year. The ten year average for sales in April is 772 properties.
"We are starting to see hints of a more traditional spring market. Local agricultural production has been delayed due to the late spring, and so has the local real estate market," adds President Balabanian, "More sellers listed their homes for sale over the month of April compared to the month previous."
There were 1,690 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2017, an increase of 8.6 per cent compared to the month of March, but 34.8 per cent fewer than the 2,594 active listings for sale at the end of April 2016.
"Inventory is still low, which means that buyers may encounter multiple offer situations in some of the high demand areas - there is still more demand than supply," adds President Balabanian.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in April 2016 was $684,900. The benchmark value for the same home in April 2017 has increased by 17.6 per cent to $805,100.
About the Victoria Real Estate Board - Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,360 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.
For More Information
Victoria Real Estate Board
Denise Hogue, Communications Manager