Benchmark sale price for a home in the West Shore up by more than $200,000 over last year
CTV
It seems like everywhere you look in the West Shore, new homes are being built, but demand has still outpaced supply.
“(That) continues to put the pressure on the prices,” said Sandi-Jo Ayers, past president of the Victoria Real Estate Board.
What was once seen as the capital region’s affordable community is now out of reach for many.
While benchmark prices haven’t yet hit the $1 million mark, they’re getting closer.
According to the Victoria Real Estate Board, the benchmark sale price of a single-family home in the West Shore was $912,700 in November. That’s up from $709,300 a year ago, but still cheaper than in the region’s core.
The benchmark sales price in Victoria was $1,040,700. That’s up from last year’s benchmark price of $903,700.
“I’ve lived out here for the last 21 years and I’ve never seen the activity that we’ve seen in the last 2 years,” said Ayers.
The West Shore has grown and changed over the years. It has become more attractive to those who choose to leave the core for the lifestyle options it offers.
“Fortunately, we’re in a position that within 10 minutes of any person’s door in Colwood you can be at the ocean,” said Rob Martin, Colwood’s mayor.
