Hello March,
As Spring starts to make its presence known, we’re excited to share the latest updates in the world of real estate. With the arrival of warmer weather comes a fresh wave of energy and enthusiasm, making it the ideal time to consider buying or selling a home. Whether you’re prepared to take the next step or simply curious about the current market, we’re here to provide expert guidance and support every step of the way. As the flowers bloom, so do new opportunities—let’s explore the real estate market together this spring!
Wishing you a month of growth, new beginnings, and endless opportunities.
Warm Regards,
ally and dennis
A note about the uncertainty that is floating around right now. Although it’s very difficult to predict what may happen, we want to share our historical experience with you. In the past number of years there have been two significant global events that caused uncertainty; the ‘crash’ in 2008 and then five years ago, of course the pandemic shuttered almost every city in the world.
And what’s important to remember is that Greater Victoria was relatively insulated from those global events. We are optimistic that this will be similar. Victoria is a place people want to be. The interest rate reduction earlier this week will give buyers more opportunities to enter the market and will also give homeowners comfort to make changes.
So, while we can’t predict the future, we are seeing listings come to the market and if they are priced right, they do sell. Our regular spring market is off to a good start and that makes us hopeful.
As always, we welcome your thoughts and questions.
 February a steady month for Greater Victoria buyers and sellersMarch 3, 2025: A total of 528 properties sold in the Victoria Real Estate Board region this February, 12.3 per cent more than the 470 properties sold in February 2024 and 25.1 per cent more than in January 2025. Sales of condominiums were up 26.3 per cent from February 2024 with 192 units sold. Sales of single family homes increased by 4.5 per cent from February 2024 with 234 sold.”February was another stable month for local real estate,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “The combination of slowly growing inventory and slightly increased sales means that our market remains in balance from the start of the year, which creates comfortable conditions for both buyers and sellers. Nearly two years of steady prices combined with recent favourable interest rates are positive factors for our market. Thus far, 2025 has been a good year to buy and sell.” See the full report HERE. |
Renovations don’t always require a large budget, but they can make your home much more attractive to potential buyers and increase its overall value. Here are 5 top home renovations that can significantly add value to your property:
- Kitchen Remodel: The kitchen is often considered the heart of the home, and updating it can significantly boost your property’s value. Simple improvements like installing new countertops, upgrading to modern appliances, and replacing outdated cabinetry can make a world of difference. Even smaller changes, such as adding a fresh coat of paint or installing a new backsplash, can completely transform the look and feel of the space without breaking the bank.
- Bathroom Renovation: Bathrooms are another key area that buyers pay close attention to. Adding or upgrading a bathroom, especially if you’re expanding a half-bath into a full bath, can add a lot of value. Features like a new vanity, updated tiles, or a modern shower can make a significant impact.
- Adding a Deck or Patio: Outdoor living spaces are becoming more popular, especially with people spending more time at home. Adding a deck, patio, or even an outdoor kitchen can expand your usable space and is perfect for entertaining. A well-designed outdoor area can also provide a solid return on investment.
- Curb Appeal Enhancements: First impressions count, and sprucing up the exterior of your home can make a big difference. Simple updates like painting the front door, adding new landscaping, or replacing an old garage door can make your home more inviting and increase its value.
- Basement or Attic Conversion: Converting an unused space like a basement or attic into a functional room, such as a home office, gym, or extra bedroom, can add valuable square footage and increase your home’s worth. Just make sure the space is finished and insulated to ensure it’s comfortable and livable.
