92 replies to this topic

[lanforod]

If the trend continues percent wise, it should be about 471, but I think the interest rate cuts might drive more sales too.

[Ryan Cook]

483 is what it “feels” like to me. Also wagering on the nice weather continuing. 

Edited by Ryan Cook, 07 October 2024 - 01:54 PM.

[Ryan Cook]

 

 

Definitely seeing a ton of inventory pile up on the only 2 presale projects to close in 2024 - Nest and One Bear Mountain 

[Ismo07]

 

Definitely seeing a ton of inventory pile up on the only 2 presale projects to close in 2024 - Nest and One Bear Mountain 

 

Ha I read La Bear Mountain like it was French...

[Ryan Cook]

Sounds fancy

[Mike K.]

About 10% of inventory. Nest was pretty much sold out at the time of pre-sales, but One BA still has some inventory selling, no?

[Barrister]

I actually went to the open house at one Bear Mountain and was seriously disappointed with the product. This could be a hard sell at their asking prices.

[lanforod]

They are only 2x your dining room size, so of course you'll be disappointed!

[Ryan Cook]

I went to a realtor event at 1BM a couple of weeks ago any they said at that time they had 19 left not including resale 

 

A number of people at Nest would like to sell but are opting to rent it out for 3-6 months or longer and then try listing in the Spring as there is too much inventory and uncertainty right now. Pricing is also out of alignment. Some people have listed at or below purchase price for quick sale.

Edited by Ryan Cook, 16 October 2024 - 08:23 AM.

[Barrister]

I agree with Ryan that the pricing seems out of alignment. But these things do eventually adjust.

[Ryan Cook]

Victoria housing starts down 27% from 549 last year to 400 this year. Also declining: Oak Bay 17%; Sidney 53%; North Saanich 57%; View Royal 69%; Esquimalt 94%, Central Saanich 79%. West Shore again carrying the region

 

https://www.vrba.ca/...arts-decline-3/

[spanky123]

^ And 5,000 net migration into the region.

Edited by spanky123, 16 October 2024 - 02:44 PM.

[Ryan Cook]

[lanforod]

Still think 503 is bullish, Mike? Even with the rain gongshow weekend.

[Mike K.]

It’s certainly possible!

[Ryan Cook]

 

Ryan Cook

REALTOR® | RE/MAX Camosun

ryan@ryancookrealestate.ca

250-886-9398

VictoriaRealtor.ca

[Mike K.]

Well I’ll be!

[Ryan Cook]

Still not 1 sale at Nest. 11 Active Listings 

 

 

The last sale at One Bear Mountain was August. 34 Active Listings 

[spanky123]

Well I’ll be!

 

With the apparent reduction in the number of visa's being issued in the future, I wonder how that will impact demand.

[lanforod]

Strong sales for sure. I guess the interest rate drop will push November sales high too.