Multiple Offers are BACK in the Victoria BC Real Estate Market! April 2023

Where are mortgage rates headed in Canada?
What direction are house prices headed in in the spring market?
What are buyers and sellers thinking in Victoria BC?
All questions I hope to answer in this video: Multiple Offers are BACK in the Victoria BC Real Estate Market! April 2023
As 2023 has unfolded, through most segments of the Victoria BC Real Estate Market on Vancouver Island, we’ve seen prices remain flat despite elevated interest rates. However, real estate prices in the Victoria Housing Market are beginning to show signs of momentum in certain segments! Is this increased confidence going to carry home prices back to the moon this spring?
I don’t believe so.
But in this video I want to unpack the March housing statistics and how I see things playing out over the next few months. Be sure to subscribe for more information on the Victoria BC Housing Market and Vancouver Island Real Estate and if you would like some more insight into your own specific scenario feel free to reach out to schedule some time to connect:
Alex Carroll PREC
Licensed Realtor
Engel & Völkers Vancouver Island
Email: [e-mail]
Website: alexcarroll.ca
Direct: 1-250-889-9060
Let’s connect on social!
Facebook - / realestatevic
Instagram - / carrollgroupev
#VictoriaBC #VictoriaBCRealEstate #VictoriaHousingMarket
Timeline for this video:
00:00 Intro
01:20 Detached homes in the core gain momentum
02:33 Why is this happening?
04:00 Optimism & Interest Rates / Mortgage Rates
05:02 Expectations for Sales & New Listings this Spring
07:21 David Eby’s Homes for People Action Plan
1) Blanket rezoning (small scale multi-unit/missing middle on detached lots). No action plan in place but involves coordinating with municipalities to speed up upzoning/development processes. $40,000 credit for owners to create secondary suites.
2) Deliver better, more affordable homes, thousands more social housing units and 4000 more on-campus housing for students across the province of British Columbia
3) Supporting those with the greatest housing needs (low-moderate income renters) new $400 renters tax credit. More housing for those experiencing homelessness (which is of particular importance for Victoria BC Housing)
4) Tax on proceeds of house flipping and more regulation for short term rentals
08:44 Outro
COMMENT BELOW with your thoughts on the Canadian Real Estate Market and where you think the spring market is headed!!!

[@AlexCarroll]

Where do you think prices are heading in the spring? Let me know in the comments below!

[@hayleybryantx]

V informative

[@sinist4r_gr1n14]

Vic sucks, someone buy my house already so I can get the hell out of here.

[@AlexCarroll]

Drop a link for some more visibility!