NOVEMBER UDPATE
As the days grow shorter and the air turns crisper, we hope this newsletter finds you well. The housing market is still buzzing with activity, and if you’ve been contemplating a move, there’s no time like the present. You can still get settled into your dream home before the holiday season unfolds.
We’re here to help make your real estate aspirations a reality, so don’t hesitate to reach out.
Wishing you a cozy and wonderful November.
Stay well,
ally and dennis
November 1, 2023 A total of 407 properties sold in the Victoria Real Estate Board region this October, 15.2 per cent fewer than the 480 properties sold in October 2022 and a 17.4 per cent decrease from September 2023. Sales of condominiums were down 7.2 per cent from October 2022 with 141 units sold. Sales of single family homes decreased 16.1 per cent from October 2022 with 193 sold.
“Overall, property sales drifted down in October compared to the previous month, likely due to consumers continuing to navigate interest rates higher than those seen in nearly two decades,” said Victoria Real Estate Board Chair Graden Sol. “The uncertainty around the direction of the Bank of Canada rate announcement in mid-October may have caused some buyers to push their purchasing plans into the future because it was unclear if rates were going to be hiked again or remain stable. Generally speaking, when we have periods of static interest rates, consumer confidence returns to the market. We can recall earlier in the year when rates plateaued; we saw an uptick in sales in the weeks after. However, when rates began tgain, we saw consumer confidence falter.”See the full report HERE.
Make Spiced Apple Cider this fall:
Ingredients:
- 1 cup apple cider
- 1 cinnamon stick
- 2-3 cloves
- 1-2 slices of fresh orange
Instructions:
- Pour the apple cider into a small saucepan.
- Add the cinnamon stick, cloves, and orange slices.
- Heat the mixture on low-medium heat until it’s warmed through but not boiling. This should take about 5-7 minutes.
- Once heated, remove from the heat, and strain the mixture into a mug.
- Garnish with an extra slice of fresh orange or a cinnamon stick, if desired.
Enjoy the warm, comforting flavors of spiced apple cider on a cozy autumn evening!
