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A QUICK LOOK AT THE HISTORY OF CLOVER POINT Tag: Buying

Clover Point is a 10.39 acre property that has served many functions. The following outlines a few of the highlights and developments over the years (extracted from“Beacon Hill Park History” by Janis Ringuette). When Hudson’s BayCompany Chief Factor, James Douglas, landed on the point in 1842, he named it for the acres of tall red clover growing there.

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THE MARKET INVENTORY Tag: Buying

There were 792 properties (including lots and acreage) active on the VREB’s MLS® database for the Greater Victoria area (i.e., excluding the Malahat, Up-Island and the Gulf Islands) on Oct 1, 2021, down -57.4% from the inventory level of 1,859 a year ago.

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THE VICTORIA MARKET Tag: Buying

After four exceptional quarters, running from July 2020 to June 2021, it is perhaps not surprising that the real estate market in Victoria took a pause in the 3rd Qtr of 2021. Also, sales typically slow over the summer months. On the supply side, the number of listings was down dramatically from last year.

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TRENDS IN HOUSING Tag: Buying

The immediate effects of the Covid-19 pandemic on the housing market in Canada had many surprises. Sales and prices climbed to record levels, even in the face of a major economic downturn. Moreover, there was a significant increase in the sale of Single Family Dwellings (SFDs) in many areas of the country.

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THE RESTAURANT SCENE IN VICTORIA Tag: Buying

With the easing of Covid-19 related restrictions on restaurants, it is timely to look at the vibrant restaurant scene in Victoria. Following is a list of the current 20 top-rated restaurants in Victoria based on reviews posted on Trip Advisor. These range from those offering casual fare to those featuring a true epicurean experience. Check out the web sites for details.

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The Market Inventory Tag: Buying

There were 1,012 properties (including lots and acreage) active on the VREB’s MLS® database for the Greater Victoria area (i.e., excluding the Malahat, Up-Island and the Gulf Islands) on July 1, 2021, down -49.0% from 2,067 a year ago.

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The Victoria Market Tag: Buying

The real estate market in Victoria has been strong since the 3rd Qtr of 2020. With the onset of the pandemic in early 2020, sales plunged in the months of April and May, only to rebound sharply in the month of June. Since then, the Victoria real estate market has been on a record-setting pace. High demand coupled with a tight supply has placed extraordinary upward pressure on prices. However, there are signs that the frenzied pace that marked the past three Qtrs may be easing. (It should also be noted that the analysis in the following paragraphs, particularly the comparisons of sales figures between the 2nd Qtr of 2021 and the 2nd Qtr of 2020, should be viewed with a certain amount of circumspection given the unique situation in the beginning of the pandemic).

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THE PANDEMIC AND THE REAL ESTATE BOOM Tag: Buying

In March 2020, the full effects of the Covid-19 pandemic became evident. Lockdowns and various restrictions were implemented to minimize the adverse health effects of the virus. It was widely anticipated that the global economy would enter into a major recession with an associated negative impact on the real estate market, namely a “bust.”

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THE VICTORIA MARKET Tag: Buying

After the initial shock of the impact of the Covid-19 virus on the economy in early spring, the real estate market in Victoria rebounded quickly in the summer and the momentum carried through the remainder of 2020 and into 2021.

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ENJOY THE OUTDOORS Tag: Buying

Dr. Bonnie Henry, the Provincial Health Officer for BC, has encouraged people to get out and enjoy the outdoors. There are a number of places in the Greater Victoria area where one can escape the hustle and bustle of urban life and reconnect with nature.

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