A quick scan of real estate listings on vicnews.com this week found a near-new three-bedroom, three-bathroom 1,460-square-foot home in the Six Mile area of View Royal had sold for less than $400,000.
Another page finds a luxurious four-bedroom, five-bathroom palace on Bear Mountain listed for nearly $1.4 million.
Neither is at the extreme end of pricing on the West Shore, but the spread gives a good indication that there are numerous options or home buyers looking to either stay here to upgrade or scale down, or relocate from the regionB次元官网网址檚 core municipalities.
The prevailing wisdom is that buyers can get more house for their money in View Royal, Colwood, Langford and beyond than Saanich and Victoria.
Realtor Gary McInnis of Pemberton Holmes calls that a fair statement of the market. But with nearby amenities cropping up around the West Shore and various configurations of housing being added regularly, itB次元官网网址檚 also fair to say the area B次元官网网址渙ffers lots of choices,B次元官网网址� he says.
B次元官网网址淚f you look at what the median price is (the current MLS Home Price Index benchmark is $556,200 for a typical single family home), you can find plenty of opportunity in that range out here.B次元官网网址�
McInnis, who lives in the ColwoodB次元官网网址檚 Royal Bay neighbourhood, recently sold a several-year-old detached home in Langford for about $359,000. For those people who need more space or want a larger or more private yard, established neighbourhoods in View Royal, Triangle Mountain, the aforementioned Bear Mountain, among others, offer those types of features.
B次元官网网址淭he more that the infrastructure grows, and the services, the more people donB次元官网网址檛 need to go into the core,B次元官网网址� McInnis says.
DFH Realty broker manager Susan Dunn agrees on the large amount of choice for buyers, from condos and townhomes, to bare land stratas and ranch properties.
She notes that younger buyers tend to prefer newer construction, of which there is plenty around the West Shore, but especially in the more urban municipalities of Langford, Colwood and View Royal. Those with legal suites built in give more flexibility on size and mortgage costs, she adds.
B次元官网网址淭hen again you get some people who are still looking for fixer-uppers,B次元官网网址� she says, noting that some families donB次元官网网址檛 mind tackling older homes with potential. B次元官网网址淲ith the popularity of the home reno shows on TV, weB次元官网网址檙e seeing a little more of that.B次元官网网址�
With interest rates not likely to jump anytime soon, the affordability factor continues to play in the West ShoreB次元官网网址檚 favour, McInnis says.
B次元官网网址淔or a lot of people, it comes down to B次元官网网址榳hat can I afford and how close is it to school for my kids?B次元官网网址� Walk scores B次元官网网址� how close everything is B次元官网网址� are going to become more a part of the criteria for people to make a purchase.B次元官网网址�
Even the argument about the longer commute can be shot down, he says.
B次元官网网址淚 can say the value overwhelms the commute and the gas costs when it comes down to what itB次元官网网址檚 costing me per month, especially for people who have a legal suite providing extra income.B次元官网网址�
editor@goldstreamgazette.com
Q: WHAT ARE SOME WEST SHORE DEVELOPMENTS TO WATCH FOR?
With West Shore municipalities continuing to allow for infill housing in previously forested or fallow sections of land, especially Langford and Colwood, prospective buyers are keeping an eye on several areas.
Among them is the Westhills development, which continues to move along. Residents already living there and those who might wish to later are no doubt aware of LangfordB次元官网网址檚 plan to eventually punch through Langford Parkway all the way to Sooke Road. As well, the prospect of a new YMCA and library to the site will only help attract buyers.
Other areas of note to watch for are projects in Colwood, such as Ocean Grove and the recently approved Seafield Cottages, both in the Esquimalt Lagoon area.
And while the first phase of the Royal Bay project on the former gravel pit is still months if not years away from groundbreaking, it already has people watching whatB次元官网网址檚 in store closely.
A good way to monitor upcoming developments in your community is to check municipal websites regularly.
GREATER VICTORIA MARKET UPDATE 禄 AS OF JULY 7/14 COURTESY VICTORIA REAL ESTATE BOARD
禄 122 / 583 -- NET UNCONDITIONAL SALES / TOTAL, JULY 2013
禄 250 / 1,213 -- NEW LISTINGS / TOTAL, JULY 2013
禄 4,570 / 4,772 -- ACTIVE RESIDENTIAL LISTINGS / TOTAL, JULY 2013
