With the regionB次元官网网址檚 limited housing inventory, itB次元官网网址檚 no surprise homes that arenB次元官网网址檛 even completed yet are selling fast.
If youB次元官网网址檝e recently been driving down Sooke Road near Royal Roads University you may have noticed the new development thatB次元官网网址檚 rising up across the street.
On the corner of Sooke Road and Acacia Drive, this new development called B次元官网网址淚Laria at Hatley ParkB次元官网网址� will feature a mix of three- and four-bedroom townhouses that also include rentable suites. But if you were hoping to snag one of these 14 high-end townhouses, youB次元官网网址檒l have to wait to see if one of the current owners decides to part with their recent purchase.
B次元官网网址淲eB次元官网网址檙e sold out,B次元官网网址� said developer Paul Davis, with Bronte Heights Developments. While technically one unit has come back on the market because a potential buyer couldnB次元官网网址檛 meet the conditions of the sale, Davis noted roughly half a dozen other potential buyers have already expressed interest this week. B次元官网网址淚tB次元官网网址檒l go pretty quick,B次元官网网址� he added.
But itB次元官网网址檚 not the speed these units sold that makes them unique. Each features a space that can be utilized as a suite if the owner desires to do so, something thatB次元官网网址檚 unusual in a townhome, especially one in Colwood. B次元官网网址淧eople can use it as a bedroom or a studio suite,B次元官网网址� Davis noted. B次元官网网址淚t adds to modern day families B次元官网网址� ThatB次元官网网址檚 what I wanted when we designed these.B次元官网网址�
The suites can also offer another level of security for owners, Davis said, adding often financial situations can change and this ability for an income helper can give people a little more wiggle room in their budgets if something were to happen.
B次元官网网址淚tB次元官网网址檚 so close to Royal Roads,B次元官网网址� Davis said, pointing to a potential for renters. He also noted that with more young adults staying in the home longer, these suites can fill another hole in the market. B次元官网网址淚t gives them the flexibility of still being in the family home but still having that little bit of independence,B次元官网网址� he said. B次元官网网址淭heyB次元官网网址檙e pretty unusual properties as well.B次元官网网址�
The units range in size from roughly 1,660 square feet to just under 1,800 sq. ft. with price tags from roughly $485,000 to $600,000. Some of the features include high ceilings, lots of natural light, upgraded finishes, exterior garden spaces and parking for up to four vehicles. B次元官网网址淚tB次元官网网址檚 pretty upmarket B次元官网网址� ThereB次元官网网址檚 things youB次元官网网址檇 never see in other properties,B次元官网网址� Davis said. B次元官网网址淚t all adds up to a nice package for everyone.B次元官网网址�
The first occupants are expected to be able to move in sometime in July, with a staggered completion of the other three blocks of units expected by November.
Davis added crews will be finishing landscaping and other little details until the end of the year, B次元官网网址渁nd then weB次元官网网址檒l be on to the next one.B次元官网网址�
katie@goldstreamgazette.com
Trend of low inventory, high demand continues
Last month 929 properties were sold across the region. ThatB次元官网网址檚 17.1 per cent less than the 1,121 properties sold in March 2016.
B次元官网网址淲e predicted early in the year that we wouldnB次元官网网址檛 see a continuation of the record sales numbers that we saw in 2016,B次元官网网址� said Victoria Real Estate Board president Ara Balabanian in a statement. B次元官网网址淗owever, we are still in a very active market, as evidenced by the fact that this is the second highest March on record if you remove that record breaking 2016 data. We saw nearly 200 more transactions last month than March 2015, when 734 properties sold.B次元官网网址�
Inventory levels continue to edge lower, with 1,556 active listings for sale on the Victoria Real Estate Board Multiple Listing Service at the end of March. ThatB次元官网网址檚 40.6 per cent fewer than the 2,618 active listings for sale at the end of March 2016.
B次元官网网址淭he public and Realtors are getting used to the new tempo of the market B次元官网网址� with the ongoing historically low inventory levels and high consumer demand - both parties need to be tenacious and have quick reflexes,B次元官网网址� added Balabanian. B次元官网网址淲e do think we will see a more balanced market in the future as more inventory becomes available. Traditionally, people prefer to list their home when gardens and outdoor areas can be shown to their best advantage. Hopefully, as our warmer weather arrives we will see more listings added into the market to offer more choice for buyers.B次元官网网址�
