News Flash: Victoria BC has the Highest Priced Homes For Sale in the Canada.
"Victoria will be home to more new millionaires in the New Year", front page story reported in today’s headlines in the Victoria Times Colonist newspaper, seven properties are on the market from $15 million to $28,000,000 for a ocean front home on 2.5 acres in the Uplands district of Victoria. Three of the seven homes are in Oak Bay, two in Central Saanich and one in Metchosin, (these are municipalities throughout the Capital City region). If one of these homes sell, this will break Victoria's record of a home selling last year for 10.5 million of which is back on the market at 17.5 million. We're grabbing national attention with properties now carrying the highest priced homes For Sale in the Country.
Now come January, the article goes on to say that" Greater Victoria will be Home to Hundreds of New Millionaires.....on Paper". When the assessed values of homes under a million dollars are assessed for property tax purposes in the New Year, many will now be valued over one million dollars. My experience with these type of assessment increases, usually making it harder for Realtors to price homes like these competitively, with Sellers saying "Well the BC Government Assessment Authority says my home is worth it". However home Buyer are sometimes influenced by these Assessment values ,which is on public record, I know from my own personal experience, that even when a home is priced well …my home Buyer will always ask, "What is the assessed value ?" they want to be sure he or she is not paying to much……or too little…never happen right?
As we all know home buyers are comparative shoppers and only time will tell if some of these lovely executive homes sell at these new lofty Price levels...some are simply outstanding homes, located in Canada's best kept secret Victoria BC,.....or so we thought, now the World will be looking at Victoria with all this Press coverage and our marketing of Million dollar homes here.