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I have listed a new property at 4540 Gordon Point DR in VICTORIA.
An executive WATERFRONT luxury home in the sought after area of Gordon Point. Great value with a half acre property and top notch quality construction throughout. This is a custom-built home that includes a slate tile roof, copper gutters, 3 gorgeous gas fireplaces, Subzero/Wolf appliances, radiant in-floor heating, vaulted ceilings, open concept great room, ocean view hot tub, main floor bedrooms all with water views and very private. You'll be living the dream with some of the most perfect ocean views!
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VICTORIA, BC - Single family homes sales have risen 17% since last month, while the six-month average price is up 1% to $599,551. The average price of a Greater Victoria single family home in March 2012 is $640,553 up from $579,985, but is affected by the sale of two homes over $4 million. Compared to March 2011, active listings in this category are up 5% to 1,858, while sales are down 7%.

Sales of condos and townhomes are flat, compared to February 2012, while down significantly from 12 months ago (17% and 15% respectively). Condo prices are unchanged, while townhomes are 1% lower than March 2011.

"With softer prices, buyers have been looking at houses," says Carol Crabb, President of the Victoria Real Estate Board. "That is now being reflected by the six-month average price increase. We predicted a flat market in January, and so far that is what we are experiencing."

She also believes sales activity was affected by poor weather and many families travelling over the two-week spring break. "REALTORS® tell me many clients took the time for family vacations," Crabb adds.

With a total of 4,274 active listings, properties on the market have edged up from last month (3,977 active listings at February 29, 2011). Increased supply levels reflect typical spring activity as seen year over year.

 

Total waterfront Single Family Dwellings sold: 14, equal to March 2011
Total non-waterfront Single Family Dwellings sold: 311, down 26 sales over March 2011
Single Family Dwellings sold over $1 million: 26 (4 over $2 million)

Summary Report and Graphs

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

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Thinking about buying your first home? Wish you had saved up a good down payment? Maybe you have, but didn't know it. Designed to help first-time buyers get into home ownership, the federal Home Buyers' Program lets you access tax-free monies for use towards the purchase or even construction of your first home.

 

As a first-time homebuyer, you are allowed to withdraw money tax-free from your RRSP, provided you adhere to the repayment plan. You can withdraw up to $25,000 from your plan. If your spouse qualifies as a first-time homebuyer, then he or she will also be able to withdraw $25,000. Between the two of you, you could possibly have a hefty down payment sum of $50,000. That's enough to make a substantial difference in the affordability of home ownership!

 

There are certain conditions, for example, you must enter into a written agreement to buy or build before you can withdraw money. And, you must meet the repayment terms. Repayment to your RRSP begins the second year following the year of withdrawal. You have up to fifteen years to repay, and each annual repayment must be at least one-fifteenth of the total withdrawal, otherwise you have to include each repayment amount as income for that year.

 

A detailed booklet is available on the Canada Revenue Agency website. Look for T1036, which is the form required for requesting a withdrawal.

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.