The fall winds are beginning to blow into Victoria and the summer is coming to a close. With the outdoor parties and events winding down you might find yourself wondering what to do now that the season is beginning to change. Don’t worry, because the end of summer does not mean the end of events and fun things to do with friends and family. In fact, these upcoming events are just getting started and will offer you a fresh experience in your local area.

post thumbnail for a Fall 2017 events in Victoria BC article

Victoria has plenty of events spread out across the fall season. These upcoming and exciting events have been organized into two separate categories below. Our Food and Drink category is for those looking to enjoy some of the fine Beer and Wine locally from the fall events. And our Outdoor Fun category is for those who are looking to get outside and get some fresh air this fall.

Come out and enjoy everything Victoria has to offer this fall. You might just find your new favorite activity.

Food and Drink

Great Canadian Beer festival (Sept 8th – 9th)

The Great Canadian Beer Festival is an award winning festival with a total of 66 breweries and 2 cideries attending this year. There will be craft beer tasting, local food vendors, and local buskers to entertain! This festival is intended to introduce beer lovers to new brews and to bring awareness of craft brewing in the local community and beyond.

Victoria Wine Festival ( Sept 22nd – 23rd )

Victoria’s first exclusive international wine tasting festival is here. The Victoria Wine Festival is open to all levels of wine consumers. This event prides itself on presenting wine that is good value to the average consumer. With a welcoming and engaging experience the Victoria International Wine Festival will surly satisfy any wine lover.

Salt Spring Island Apple Festival ( Oct 1st )

“A chance to visit Apple Heaven while still on earth!” The Salt Spring Island Apple Festival is a great event for families, children and apple lovers of all ages to come together and enjoy what local Salt Spring Island apple farmers have to offer.

Art of the Cocktail Festival ( Oct 14th )

Join your friends and family for the Art of the Cocktail Festival. This is Vancouver Island’s biggest Cocktail event of the year! This year the best dressed will win themselves four tickets to the 2018 Victoria Film Festival Opening Gala, so make sure to dress to impress!

Sea Cider Kick-Off ( Oct 18th )

Cideries from across Western Canada and the Pacific Northwest gather for the Sea Cider Kick-Off event. From innovative styles and products to more classic tastes, cider lovers won’t want to miss this chance to come together and celebrate the incredible variety of ciders.

Outdoor Fun

Saanich Fair ( Sept 2nd – 4th )

The 149th Annual Saanich Fair has everything you could expect from a fair, cute fuzzy Sheep, Zucchini Races, Draft Horse competitions, and even a Disco! Don’t forget all the rides that are available!

Vancouver Island Corn Maze ( Sept 8th opening )

The Vancouver Island Corn Maze is Victoria’s largest family friendly corn maze, and it is back again this year to put your wits to the test! Can you solve this 14 acre corn maze with over 10km of trails? This is a great event for the whole family and includes a treasure hunt, a corn sandbox and kids maze.

Rifflandia (Sept 14th – 17th )

Celebrating its 10 year Anniversary this year, Rifflandia is Victoria’s biggest music festival. Spanning multiple venues across the city, this musical experience turns the volume up to 11 and blasts chill vibes across all of the greater downtown core. Get ready for three days of non-stop music!

Roller Derby Season Finale ( Sept 16th )

Celebrating over 10 years as a local Victoria team, the Eves of Destruction skaters are ready to demonstrate guts and fight for glory! Come watch as the “Belles of the Brawl” fight it out with the “Margarita Villains” to regain the Calamity Cup! Enjoy this family friendly event with the evening’s half-time entertainment and cold beer & cider.

Luxton Fall Fair (Sept 15th – 17th )

Supporting local history and showcasing local agriculture, the Luxton Fall Fair is filled with displays and exhibits showcasing everything Agriculture. From Blacksmithing and Antique Farm equipment to Handicrafts and Unique Products with dedicated booths, there is something for everyone here.

UrbaCity Challenge ( Sept 24th )

Come join the UrbanCity Challenge, a race through the heart of downtown, and discover a side of Victoria you’ve never seen. Local businesses and hot spots are the backdrop of this amazing challenge.

Victoria Festival of Authors (Sept 27th )

The 2nd Annual Victoria Festival of Authors hosts a fantastic lineup this year of local and national Authors. Come and celebrate the joy of reading with the fantastic lineup of guests, listen to readings from your favorite authors, and don’t miss the Gala on Saturday night!

Cops for Cancer Tour de Rock ( Victoria: Thursday Oct 5th – 6th )

A two-week, 1,000km bike ride raising money to fight childhood cancer, Cops for Cancer Tour de Rock is the biggest community event on Vancouver Island that unifies communities from Victoria to Port Alice. Come out to support these officers who are working hard to raise money for pediatric cancer research and support programs.

Goodlife Fitness Victoria Marathon ( Oct 8th )

The Goodlife Fitness Victoria Marathon is one of the largest annual sporting events on Vancouver Island. Held on Thanksgiving weekend. This Marathon brings the community together and challenges runners to compete at their very best. With over 1600+ volunteers helping to organize it, you know it’s going to be big!

Goldstream Salmon Spawn (Mid-late October)

Every year thousands of chum salmon return to Goldstream Provincial Park. These salmon forge their way up the streams of the Pacific Northwest to spawn. This is a great educational event that often begins around mid-October and can sometimes last up to 9 weeks, giving you plenty of time to visit this spectacle!

Ghostly walks – (Sept 11th – Dec 31st)

For over 40 years, John Adams’ Ghostly walks has brought his passion for Victoria’s stories to the streets, bringing them to life as you walk with him learning the gruesome history of our local neighborhood. Come explore the streets at night, but don’t forget your flashlight!

Fall in Victoria is Magical

The changing weather in our beautiful city is a delightful sight that makes it a magical time to see Victoria! If you were looking for a quieter time to see the culture of the city/take photos, without wading through tourists, our fall season is an excellent time to come visit.

Don’t forget, this is a west coast island city, with lots of precipitation, so you may want to bring a jacket/umbrella with you so that no adventure is off limits while you are here!

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Victoria Realty Prices Continue to Rise Steadily

by McLean Real Estate Group on July 21, 2017

FOREIGN BUYERS IN 2017 – SOME CONTEXT

There has been a lot of media coverage on the impact of foreign buyers on the real estate market in Canada. Last summer the BC government implemented a 15% property transfer tax on foreign buyers in Metro Vancouver. More recently, the Ontario government introduced a number of measures to cool the real estate market in the “Greater Golden Horseshoe” area. Included in the measures was a 15% non-resident speculation tax. Closer to home, Victoria City Council narrowly missed passing a resolution that would have called on the BC government to implement a foreign buyers tax of 15% in Victoria.

Amid concerns with escalating home prices in Metro Vancouver, the BC government began to gather data on the number of property transfers involving foreign buyers. It released the initial figures for the period Jun 10-29, 2016. In Metro Vancouver, the figure was 5.1%. The next set of figures released by the BC government included the period Jun 30 to Jul 14. The number of property transfers involving foreign nationals jumped to 14.9% in Metro Vancouver. These figures appear to have prompted the BC government to implement the 15% property transfer tax on foreign buyers in Metro Vancouver effective Aug 2, 2016. Following the implementation of the foreign buyers tax, the percentage of foreign involvement fell dramatically to 1.3% for the period Aug 2 to Sep 30. However, it seems clear that many foreign buyers were able to move the completion date of their purchase from the Aug – Sep period to the Jun – Jul period.

Foreign buyers appear to have been involved in perhaps as much as 8% of the property transfers between Jun and Sep 2016 in Metro Vancouver. Between Oct 2016 and Feb 2017, foreign involvement has averaged 3.9%. While sales fell in Metro Vancouver after the implementation of the foreign buyers tax, many involved in the real estate market in Vancouver argue that sales were in fact slowing well before the government acted, largely because of a lack of supply. What seems clear is that the implementation of the foreign buyers tax has not had a significant impact on home prices. The average sale price fell a modest -2.2% from $953,293 in the period Jun to Sep 2016 to $932,685 in the period Oct 2016 to Feb 2017. Prices have since recovered. Metro Vancouver recorded an average sale price for a residential property of $1,110,376 in May 2017, a record high. There are many factors that affect the real estate market. The influence of foreign buyers seems negligible.

In the Capital Regional District, foreign buyers were involved in 3.7% of the property transfers between Jun and Sep 2016. Since then, there has been a small, and very likely inconsequential, up-tick in foreign involvement. Foreign buyers were involved in 5.7% of the property transfers between Oct 2016 and Feb 2017.

THE VICTORIA MARKET

After a record-breaking year in 2016, it is not surprising that we are witnessing a slowdown in sales in Victoria this year. The extraordinary demand of last year has eased. However, it still remained a strong seller’s market in the 2nd Qtr of 2017. Although sales are down from last year, prices are up significantly from the 2nd Qtr of 2016. The ratio of sales-to-listings (a measure of market strength) remained strong. Properties took less time to sell and they sold for an average of about +0.6% above the original list price. Indeed, multiple offer situations are not uncommon, more than half of the homes sold at, or above, their list price.

As shown in Table 1, the number of new listings was 3,781, in the 2 Qtr of 2017, down -4.5% from 3,959 a year ago. Sales of nd residential properties (i.e., all types of housing, excluding lots/acreage and commercial) through the Victoria Real Estate Board’s MLS® totalled 2,756 in the 2nd Qtr of 2017, down -22.2% from 3,543 in the 2nd Qtr of 2016. The sales-to-new-listings ratio was .73 in the 2 Qtr of 2017, down from .90 a year ago but still nd in seller’s market territory. Homes that sold in the 2nd Qtr of 2017 were on the market for an average of 23 days, down from 36 days last year. Both average and median sale prices continue to trend upward. The average sale price of a residential property in Greater Victoria and other areas was $658,003 in the 2nd Qtr of 2017, up +11.0% from $592,712 in the 2nd Qtr of 2016. The median sale price was $575,000, up +12.8% from $510,000 last year.

The figures for Victoria compare with average residential sale prices and year-over-year percentage changes of $1,110,376 (+5.2%) in Vancouver, $740,438 (+2.2%) in the Fraser Valley, $863,910 (+14.9%) in Greater Toronto and $485,444 (+1.8%) in Calgary for the month of May 2017.

THE MARKET INVENTORY

There were 1,271 properties (including lots and acreage) active on the VREB’s MLS® database for the Greater Victoria area (i.e., excluding the Malahat, Up-Island and the Gulf Islands) on July 1, 2017, down -7.5% from 1,374 a year ago. It should be noted that the inventory was 2,796 two years ago

SINGLE FAMILY DWELLINGS (SFDs)

Sales of SFDs in Greater Victoria totalled 1,400 in the 2nd Qtr of 2017, down -27.5% from 1,931 sales in the 2nd Qtr of 2016. The average sale price of SFDs in the 2nd Qtr of 2017 was $856,939, up +12.9% from an average of $759,197 in the 2nd Qtr of 2016. Moreover, the median sale price was $755,000, up +16.2% from $650,000 in the 2nd Qtr of 2016. As shown in Chart 3, sale prices have shown sizeable and steady increases since the 4th Qtr of 2014. SFDs that sold in the 2nd Qtr of 2017 were on the market for an average of 18 days, down from 28 days last year. The sales-to-listings ratio eased to .71 in the 2nd Qtr of 2017, still in seller’s market territory, but down from .94 last year.

CONDOMINIUMS

Condominium sales totalled 877 in the 2nd Qtr of 2017. This was down -12.9% from 1,007 sales in the 2nd Qtr of 2016. The average sale price for a condo was $415,713 in the 2nd Qtr of 2017, up +17.6% from $353,456 in the 2nd Qtr of 2016. The median sale price was $365,000, up +17.0% from $312,000 last year. As shown in Chart 4, the average and median sale prices have shown a steady upward trend since the 3rd Qtr of 2015. Condos took an average of 18 days to sell in the 2nd Qtr of 2017, down from 34 days last year. The sales-to-listings ratio was .86, down slightly from .88 last year.

TOWNHOUSES

There were 283 townhouse sales in the 2nd Qtr of 2017. This was down -13.7% from 328 sales in the 2nd Qtr of 2016. The average selling price in the 2nd Qtr of 2017 was $565,630, up +23.8% from $456,829 in the 2nd Qtr of 2016. The median sale price was $497,500, up +17.1% from $425,000 last year. Townhouses took an average of 16 days to sell in the 2nd Qtr of 2017, down from 38 days last year. The sales-to-listings ratio was .85. This ratio was 1.02 last year.

LOTS/ACREAGE

There were 61 lots/acreage sold in the 2nd Qtr of 2017, down from 112 sales in the 2nd Qtr of 2016. The average and median sale prices were $608,122 and $435,750 respectively, compared to $519,491 and $402,900 last year.

Feel free to download this newsletter in PDF format.

Real Estate in Victoria …Keeping You Informed: I provide this newsletter to clients, customers and friends to help them keep informed of developments in the real estate market in the Victoria area. If you do not want to receive this newsletter in the future, please let me know. It is not intended to solicit or interfere with existing listings or Agency relationships. The information contained herein is based on sources which are believed to be reliable, but it is not guaranteed. The content of this newsletter is copyright©. The data and information outlined herein was derived from a number of sources including: the VREB, the BCREA and the CREA. The Publisher is responsible for the analysis of the data and any opinions expressed herein.

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Victoria BC – The Technology Capital

by Jodi Baker May 26, 2017

Rooted throughout the city of Victoria is a technology industry that is growing at a rapid pace. From small beginnings and just a few companies, the tech space has grown to boast over 900 local businesses. Tech is taking over, and Victoria is the place to be for start-ups and established technology companies alike. How big is this industry? […]

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What Can $5+ Million Buy In Victoria BC

by McLean Real Estate Group April 13, 2017

Even with inflation on the rise, multi-million dollar homes are still not that common, so it’s still a thrill to window-shop for properties in the $5 million+ range. In fact, the vast majority of new home projects in the Victoria area are modern middle-class dwellings that are eco-friendly, inexpensive, and quick to build, which is […]

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Staging a house to sell

by Jodi Baker July 16, 2016

Let’s debunk the myths for staging a house Trying to sell your own home can be a risky gamble. Sure you’ll save on commissions but will you sell the home for as much or as quickly as you would working with expert realty professionals? At the very least homeowners should understand some of the essential […]

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What defines a luxury property in Victoria BC?

by Jodi Baker April 29, 2016

What is “Luxury”? To define a concept like “luxury” is, a bit like like someone’s opinion of beauty, technically impossible because it is in the eye of the beholder. If you surveyed the local residents of Victoria BC & Vancouver Island, you would find that luxury is many different things to many different people. Dictionary.com […]

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VREB Statistics for 2014/2015

by McLean Real Estate Group February 5, 2016

The Victoria Real Estate Board (VREB) is an association of ~1,200 local Vancouver Island/Gulf Island REALTORS® with hands-on knowledge of the local real estate market in the Greater Victoria area. VREB Statistics for 2014/2015 in PDF Origin of VREB Buyers 2014/2015 Origin of Canadian VREB Buyers 2014/2015 Origin of VREB Buyers Outside of Canada 2014/2015 […]

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Log Homes in Victoria BC

by McLean Real Estate Group December 4, 2015

Vancouver Island is home to the mighty douglas fir, a tree that makes an excellent log for building custom homes. The reddish hues of this tree are beautiful but the straight grains, tight growth rings, and resistance to mold/fungus are the most prized attributes of this species of tree.Local douglas fir logs are carefully selected […]

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Female Veterans of Canada

by Jodi Baker November 10, 2015

Victoria BC is well known for having a largely female population, we recently mentioned that Victoria took the #1 spot nationwide for the title of ‘Best City in Canada for Women‘. Female Canadian Veterans While we identify with women living in Victoria, when it comes to Canadian veterans, even in this city, the stereotype is […]

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Moving from Calgary to Victoria BC

by McLean Real Estate Group September 28, 2015

The Gas Prices are Nice But… Heck even the gas prices in Calgary are getting a second glance with an 11c per litre price jump on Monday the 28th that’s officially ruining the local optimism that comes with a sub $1/litre gas. Price Trends for Calgary Calgary Gas Prices Provided by GasBuddy.com   Calgary isn’t a frustrating/complex city, […]

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