Highlights of this Newsletter (2 Minute Read)

1. The Hot Properties has been updated to include the latest Weekly Hot Properties and Deals.

As well, see over 65+ properties offered by our brokerage that may be the perfect home you are looking for. Contact Gary to view any of these or for more information.

2. The March 2025 Greater Victoria Real Estate Market Update released on April 1st shows that at end of month there were 3,023 active listings, 14.9% more or 393 more units than in February 2025. This indicates more sellers are moving into the spring real estate market. This is a great time for buyers to start looking as there are about twice as many added properties in March versus February. For buyers this is providing more opportunities to find your dream home!

3. Get ahead of the crowd with your own personal curated MLS Portal and MLS Smartphone GoAgent App to easily follow the new listings and sold prices. I love this app on my smartphone. On my morning walks I use this app which instantly tells me everything about the for sale properties I encounter along my route. Very handy!
 
4. The next Bank of Canada Policy Rate announcement is on Wednesday, April 16th. We have now seen 7 Bank of Canada Policy Rate decreases since June 2024. The US tariffs are affecting confidence in buyers and we may see some slow downs. At the moment we are expecting 2 more rate decreases this year, possibly bringing the policy rate down to 3% and prime rate down to 4.45%. Will this happen now? We are not sure how the current US tariff threats will affect future rates at this time. Nevertheless, it is still the best time in a couple of years for renewing or obtaining a new mortgage. Current prime rate is now 4.95% and we are seeing 5 year, insured fixed term mortgage rates around 3.99% and uninsured fixed term rates around 4.44%. Call for other rates.

See our video on the 2024 rate changes and 2025 Bank of Canada interest rate forecast. This is a bit dated as it did not look at the current tariff issue (who knew?) but once the tariff issues settle down I will prepare another rate forecast based on the best current information then, so watch for that.