CREA Says 'Suite' is most popular search
In a recent posting, the Canadian Real Estate Association, CREA, announced that the word 'suite' is the most popular search term for the Victoria BC area when home buyers are looking on the MLS site www.Realtor.ca
Why is ‘suite’ the most popular keyword search?
The reason ‘suite’ is the most popular keyword search term is not hard to understand if one looks at the real estate landscape in large cities like Vancouver, Toronto and even in Victoria, the capital of British Columbia, on beautiful Vancouver Island. In short, it’s expensive!
Average Home Prices
Toronto $1,052,000 – according to Toronto Star
Vancouver $1, 470,000 – according to Globe and Mail
Victoria $608,200 – according to Victoria Real Estate Board
All these cities have large populations that are growing. With the influx of residents comes the need for housing. As the demand for housing increases, so does the price of real estate for the home owner. As the purchase price rises, so does the mortgage for the homeowner, thus, the rise in monthly payments. The homeowner looks at ways to support the monthly mortgage payments and finds that a portion of the home might be rented and the rental income might be applied to the mortgage. If the home does not have an existing suite, the homeowner gets to work modifying a space into a suite (hopefully with proper permits to make the space legal) Thus, a suite is born!
So, if you are a home BUYER looking for a home in Victoria with a suite simply go to:
The site also offers information for:
Whether you are a buyer looking for a suite or a seller that needs to list a property for sale in the Victoria area, don’t go it alone. Call or email and I’d be glad to help in every step of the way!