SUMMER 2019 HAPPY CANADA DAY!
A
s per tradition, Sidney kicks off its multi-day Canada Day celebrations events beginning on June 30 with a full day of celebrations on July 1. Follow up the fireworks on June 30th (10:15 p.m.) with a day of activities and games for the whole family to enjoy. Jenga games, hamster balls, balloon creation and magic, inflatable obstacle courses and so much more. Food vendors on site. 8 a.m. – Sidney Lions Breakfast (Mary Winspear) 11:30 a.m. – Sidney Canada Day Parade (Downtown) 12 – 4 p.m. – Family Fun Fair (Iroquois Park) 12 – 4:30 p.m. – Build-a-Boat (building begins) (Beacon Park) 4:30 p.m. – Build-a-Boat race launch (Glass Beach)
KENT RODEN
Celebrations for Canada Day at Victoria’s Inner Harbour begin at noon on July 1. One of the big events of the day is the Coast Capital Savings Living Flag. Two thousand red and white T-shirts will be available courtesy of Coast Capital Savings for pick up starting at 12:30 p.m. or participants can bring their own red or white T-shirt to guarantee a spot. Participants are asked to assemble for the “Living Flag” photo between 1:30 p.m. and 2 p.m. on the B.C. legislature Lawns. During the day there will also be a kids zone, an international food village and performances on the main stage. Celebrations finish after the fireworks over Victoria’s Inner Harbour at 10:20 p.m.
HOLMES REALTY IS HANDING OUT FREE CANADA DAY FLAGS AT OUR OFFICES LOCATED AT 2481 BEACON AVE
DROP BY ANYTIME FROM MON TO FRI, 9AM TO 5PM!
HOW THE NEW MORTGAGE STRESS TEST AFFECTS OUR MARKET In January, Canada’s banking regulator introduced the new B20 Mortgage Stress test because Canadians are carrying a lot of debt. The regulator wants you to prove you can handle higher mortgage rates when they arrive in the future. Borrowers must now qualify for a rate that they negotiate as with their lender, but also a “stressed” version of their mortgage. The borrower would still pay the rate they are
VICTORIA’S
With summer approaching fa been steadily increasing since Our local market has gradually Market in our high-end one m a Seller’s Market for proper information about our Market our Quarterly Market Report!
preapproved for, but need to qualify for a higher rate to lock it in.
5.34%
(Bank of Canada’s 5-year current benchmark rate)
Preapproved rate
+2%
Months of Inventory
8 7
5.7
6 5.1
5.3 4.7
5 3.9
4.1
4 3 2
3.4
2.5
2.3
2.7
3.1 3.3
2.5
2.4
2.5
2.6
2.5
2.2
June
2016
May
April
March
As a result, the stress test has led to a downward shift in the total mortgage amounts a household is able to afford.
4.0
3.9
2.3
February
1
4.1
3.7
January
WHICHEVER RATE IS HIGHER
Absorptio Absorption Rat Greater Victoria Are
2017
Absorption Rates - Sin
In turn this has impacted our local sales numbers, and has
May Absorption R2
7.00
6.60
also resulted in a softening in pricing here in the Greater Victoria Area. Months of Inventory
6.00
5.00
4.00
3.51 3.00
2.00
1.00
0.00
3.00
2.91
1.67
1.68
3.24
QUARTERLY
S MARKET
ast, our inventory levels have e Spring in the capital region. y divided into a strong Buyer’s million and up price range, and rty under $800K. For more t, contact us about receiving !
MARKET REPORT
Did you know that every quarter we publish a comprehensive report on local real estate market?
on tesRate (2016-2019)
ea - (2016-2019)
0
IF YOU’RE INTERESTED
4.1
4.3
4.2
4.1
3.6 3.8
2.2
2.1
2.3
1.9
2.1
2.0
2.0
AROUND TOWN VICTORIA INTERNATIONAL JAZZ FESTIVAL JUNE 21-30TH WWW.JAZZVICTORIA.CA
December
November
October
2019
1.9
September
August
July 2018
2.3 2.1
2 2.0
2.4
IN RECEIVING A COPY, CONTACT ME! KENT@HOLMESREALTY.COM
DOWNTOWN VICTORIA BUSKERS FESTIVAL
ngle Family Detached
2019 Rates By Area
JULY 3-7TH VARIOUS LOCATIONS
6.60 6.14 5.70
SIDNEY BED RACES ON BEACON JULY 7TH BEACON AVENUE
4.30
1
3.44 2.98 2.55
2.60
SIDNEY STREET MARKET
EVERY THURS. EVENING (UNTIL SEPT.) WWW.SIDNEYSTREETMARKET.COM
VICTORIA INTERNATIONAL WINE FESTIVAL SEPTEMBER 19-21ST TICKETS AT VICWF.COM
I
f you know someone who would appreciate the level of service I can provide, please call me and I will take great care of them. I am totally committed to providing my clients with unsurpassed service. A referral is sending someone you care about to someone you trust.
KENT RODEN REALTOR®
CALL TODAY FOR A FREE MARKET EVALUATION “Every client deserves professional real estate advice and first-class service.”
Kent@HolmesRealty.com
250.656.0911 • 1.877.656.0911 Holmes Realty Ltd. 2481 Beacon Ave. Sidney, BC, V8L 1X9
Not intended to solicit business from individuals currently working with a Realtor®