Posts Tagged ‘housing market insights BC’

As the year comes to a close, real estate planning often takes a back seat to the holidays. However, December can be one of the most strategic times for buyers and sellers in Greater Victoria. Fewer active participants, motivated decision-making, and year-end financial considerations create opportunities that are easy to miss without a plan. Here are practical steps buyers and sellers should consider before the year ends: Year-End Strategies for Home Buyers Review Financing and Get Pre-ApprovedIf you are planning to buy in the new year, now is the time to review your mortgage options. Securing a pre-approval helps you understand your purchasing power and protects you against potential rate changes. It also allows you to act quickly if the right property appears during the quieter winter market. Refine Your Search CriteriaUse December to narrow down neighbourhoods, property types, and non-negotiables. Attend open houses, explore communities, and track recent sales. This groundwork positions you to move decisively when new listings appear in January. Watch for Motivated SellersSome sellers list in December due to job relocations, financial deadlines, or life changes. With less competition from other buyers, you may find more room to negotiate on price, conditions, or possession dates. Prepare for Tax and Legal PlanningIf you are purchasing an investment property, review tax implications, ownership structure, and closing timelines with your accountant or lawyer before the year ends. Year-End Considerations for Home Sellers Assess Market Value and TimingEven if you are planning to sell in early spring, December is an ideal time to assess pricing, recent comparable sales, and buyer demand in your area. This allows you to enter the new year with a clear strategy rather than reacting to the market. Complete Pre-Listing ImprovementsUse the slower season to handle repairs, maintenance, and energy-efficiency upgrades. These improvements can increase buyer confidence and reduce negotiation friction once your home hits the market. Organize Documentation EarlyGather property disclosures, permits, strata documents if applicable, and utility records now. Being prepared reduces stress and shortens timelines when you are ready to list. Consider a Strategic Winter ListingIn some cases, listing before year end can be advantageous. With fewer homes on the market, well-presented properties often receive more focused attention from serious buyers. Planning Ahead Creates Leverage Whether you are buying or selling, end-of-year planning is about preparation, not pressure. Taking the time now to review finances, understand the market, and clarify your goals puts you in a stronger position heading into the new year. In Greater Victoria’s competitive real estate market, informed and proactive decisions often make the difference between reacting to change and benefiting from it. Yemi E., 5-Star Review, via Google “Scott has been very receptive and sincere with my family since we’ve been on the island 2 years ago. The fountain of knowledge mixed with the love of the island truly shows. I recommend this agent cause he actually listens to your needs.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood & Zachary Parsons “Building Lasting Relationships, One Home at a Time.”

Detached homes in Greater Victoria continue to offer stability and long-term value, even as interest rates, inventory, and buyer behaviour shift. Strong demand combined with limited supply keeps single-family homes attractive for both homeowners and investors. Limited Supply Supports Long-Term Value Geographic constraints, including the ocean, mountains, and protected green space, limit new detached home construction across Greater Victoria. Planning policies that prioritize higher-density housing further restrict supply, particularly in established areas such as Saanich, Oak Bay, View Royal, and parts of the Westshore. This ongoing scarcity supports long-term price strength. Consistent Buyer Demand Across Market Cycles Detached homes appeal to a wide range of buyers, including families, move-up buyers, downsizers seeking privacy, and long-term investors. Access to outdoor recreation, reputable schools, and established amenities keeps demand steady, helping reduce market volatility compared to other property types. Stronger Resale and Rental Performance Single-family homes typically offer greater resale flexibility and are less impacted by strata rules or special assessments. As rentals, they often attract stable, long-term tenants and command higher rents, with demand frequently exceeding supply in well-located neighbourhoods. Adaptability and Future Potential Detached homes offer flexibility to renovate, add secondary suites where permitted, or improve energy efficiency. Some properties may also benefit from future redevelopment or gentle density opportunities, adding long-term upside. A Hedge Against Market Uncertainty While no investment is risk-free, detached homes in Greater Victoria have historically demonstrated resilience. Their combination of land value, limited supply, and consistent demand makes them one of the most reliable segments in the local real estate market. Lisa Shortt, 5-Star Review, via Google “Scott went above and beyond for us in both finding our dream home and selling our condo. He listened to us and provided professional advice for each circumstance. Would highly recommend!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood & Zachary Parsons “Building Lasting Relationships, One Home at a Time.”