Victoria Real Estate Blog - Victoria Real Estate News and Information: September 2010

Greater Victoria's Town-home and Duplexes Listing

Inventory Reviewed

Greater Victoria Real Estate 

Town-home and Duplexes Values

are (as many other products) affected by Supply and Demand for property in any Area and Property Type.

If you are considering to either sell or purchase a property in Greater Victoria now or in the future, developing a "battle plan" or "strategy" is just one more reason why it is essential to surround yourself with a team of Pfanntastic experts to assist you with your plans. 

During times of change (as we are experiencing today) timing, preparation, understanding how every part of the home buying or selling process may affect your bottom line as well as your current or future lifestyle options becomes a very challenging journey that nobody should travel with out a good road map and tour guide. Please be sure to contact us so that we assist you in developing the perfect strategy for your personal situation and plans.

The information in this report is part of our efforts to educate current and future home buyers and or sellers with their personal  real estate strategy. 
We have all heard the statement that Real Estate is a "Supply and Demand Industry", okay, but how does that affect you, the Home Owner or Home Buyer wanting to buy or sell...

High Demand combined with Limited Supply causes prices to go up relatively quickly.
Low Demand combined with High Supply causes prices to go down relatively quickly.

 As Increases or Decreases in demand for any property type in any of the Greater Victoria Communities affects the number of properties sold  (or the lack of sales) these increases or decreases of  the number of sales also impact the list to sale price spread and eventually the prices any property will sell for.

Typically supply and demand are influenced by a variety of local, regional, national, and international factors. From improving local economy to higher national interest rates, from the local weather to war at the other side of the world, each and every single event or issue can affect the Greater Victoria market conditions (shifts).

In order to review the current  Town-home and Duplexes Market conditions of most areas in the Greater Victoria Market area, it is important to consistently  review the current supply,  the number of new listings entering the available inventory and actual sales volume of similar property types at any given time.

By reviewing  the information below, it becomes clear that Greater Victoria still has some areas that truly have a significant oversupply of property, while other communities are showing signs of balancing its supply and demand, in addition there are a few areas that may have actually turned a corner based on their current inventory and sales numbers.

For example Victoria,  View Royal, Langford,  and Central Saanich  show slow inventory absorption levels of  11,19, 8 and 10 months respectively. The current inventory as well as the limited number of sales are a strong indication  that further price adjustments will be needed in those areas before the absorption of current inventory will increase. Reaching a balanced market  may take up to  24 months before real signs of recovery will become obvious for Town-homes and Duplexes in these specific areas. (although North Saanich and Oak Bay have very few Town-homes and Duplexes for sale, without any sales the local slow absorption may be a relatively short term issue).
If you own property in the above communities and you are really serious about selling your property, it would likely be best to consider a very aggressive pricing strategy or offer considerable incentives. We have a few creative strategies that have generated substantial results for many of our clients, please contact us for details.

In a strange way, if you do not need or have to sell within the next 24 to 36 months, now would be a good time to actually remove your property from the market as this will in fact speed up the market recovery of your local market for Town-homes and Duplexes and in turn help your own cause in the future.

On the other hand, Vic West, Saanich East, Sooke, and Sidney  are showing somewhat Balanced Absorption Levels of 5, 7, 7 and 5 months respectively and  this  indicates that sales prices are likely leveling off and show no reason for further drastic price adjustments (unless having been on the market for longer than average ( 45-60 days) time periods. Some minor adjustment in pricing, presentation and marketing may offer just the right solution for sellers.

The remaining areas  Esquimalt, and Saanich West,  are at Strong and Healthy Absorption levels. (both at 3 months) The current  absorption levels for these areas indicate (at this moment) that prices may have bottomed out, and have possibly entered a recovery stage, that if sustained for the next 3 to 6 months these communities may see the first signs of moderate price increases for condominiums provided that surrounding communities are also seeing improved absorption levels.

Metchosin and the Highlands  do not have any Town-homes and Duplexes currently for sale.

The Concept of Absorption rates represents the amount of time it would require to sell out the currently for sale inventory at the current number of sales per month. (current inventory/ Number of sales in 30 days).

Above we show the Current Greater Victoria  Town-home and Duplexes Inventory and Sales Statistics, lets review traditional inventory and sales relationships.

• When we maintain approx 3 or fewer months of inventory we typically talk about a strong or potentially high inflationary market situation.
• When we maintain approx 4 to 7 months of inventory, we typically talk about a balanced to normal market situation.
• When we maintain over 7 months of inventory, we typically talk about a slow to very slow market place.

Locally there has been some perception that our local inventory and sales have been affected by an oversupply of newly constructed property, as such we are showing a break down of total, new and resale inventory. The information provided is compiled from the VREB MLS system available to Licensed Realtors. However our statistics do not include privately listed or sold property including inventory held by builders, developers and or private marketing companies, In some areas in and around Greater Victoria  this privately listed and sold inventory can potentially have a substantial impact on local absorption rates. 
As always, the information provided are general indications and may not affect any one property.

It is nearly impossible to predict or estimate when and or at what price point properties will bottom out. However given some of the information in this report  combined with some of our earlier published sales to list price ratios and our Pfanntastic Real Estate Systems, one could develop a relatively reliable indication as to short to medium term property value and property sales direction. Peter and Linda Pfann can assist both home buyers as well as sellers to determine what strategy is in their respective best interest.

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Minutes to downtown, recreation, shops, services etc. the location offer all the benefits
 but not the price tag of living near downtown Victoria.

At your doorstep is access to miles of  Ocean front trails, bus stop, and with the many amenities on site  this is a Pfanntastic combination of great location, home, views and price.

Don't delay, as this suite is sure to impress all those that are serious about buying a great home.

Please follow the links for additional pictures, virtual tours, property details and open house schedule.
Or contact us directly for a personal showing at your convenience.

Greater Victoria's Condominium Inventory Reviewed

Greater Victoria Real Estate Condominium Values

are (as many other products) affected by Supply and Demand for property in any Area and Property Type.

If you are considering to either sell or purchase a property in Greater Victoria now or in the future, developing a "battle plan" or "strategy" is just one more reason why it is essential to surround yourself with a team of Pfanntastic experts to assist you with your plans. 

During times of change (as we are experiencing today) timing, preparation, understanding how every part of the home buying or selling process may affect your bottom line as well as your current or future lifestyle options becomes a very challenging journey that nobody should travel with out a good road map and tour guide. Please be sure to contact us so that we assist you in developing the perfect strategy for your personal situation and plans.

The information in this report is part of our efforts to educate current and future home buyers and or sellers with their personal  real estate strategy. 
We have all heard the statement that Real Estate is a "Supply and Demand Industry", okay, but how does that affect you, the Home Owner or Home Buyer wanting to buy or sell...

High Demand combined with Limited Supply causes prices to go up relatively quickly.
Low Demand combined with High Supply causes prices to go down relatively quickly.

 As Increases or Decreases in demand for any property type in any of the Greater Victoria Communities affects the number of properties sold  (or the lack of sales) these increases or decreases of  the number of sales also impact the list to sale price spread and eventually the prices any property will sell for.

Typically supply and demand are influenced by a variety of local, regional, national, and international factors. From improving local economy to higher national interest rates, from the local weather to war at the other side of the world, each and every single event or issue can affect the Greater Victoria market conditions (shifts).

In addition supply can easily be influenced by new construction, (re) development of property and or change of land use by (re) zoning by laws. For example during the recent building boom we have seen how relatively quickly one can turn 3 to 6 older single family homes into a common 4 floor condominium building with up to 72 suites. During times of high demand, it is not uncommon for builder developers in neighboring communities to make application for rezoning and construction for 100's of suites to be ready for the market all within a relatively short period of time, and as such have a dramatic impact on local market conditions, which eventually will affect demand and sales......... and prices.

In order to review the current  Condominium Market conditions of most areas in the Greater Victoria Market area, it is important to consistently  review the current supply,  the number of new listings entering the available inventory and actual sales volume of various property types are at any given time.

By reviewing  the information below, it becomes clear that Greater Victoria still has some areas that truly have a significant oversupply of property, while other communities are showing signs of balancing its supply and demand, in addition a few areas that may have actually turned a corner based on their current inventory and sales numbers.

For example Vic West, North Saanich and Oak Bay, as well as to a lesser degree Esquimalt,  View Royal, and  Langford, show slow inventory absorption levels of 15, indefinite, 12, 9, 8  8 months respectively. The current inventory as well as the limited number of sales are a strong indication  that further price adjustments will be needed in those areas before the absorption of current inventory will increase. This  may take up to  24 months before real signs of recovery will become obvious for Condominiums in these specific areas. (although North Saanich has very few suites for sale, without any sales may be a very short term issue).
If you own property in the above communities and you are really serious about selling your property, it would likely be best to consider a very aggressive pricing strategy or offer considerable incentives. We have a few creative strategies that have generated substantial results for many of our clients, please contact us for details.

In a strange way, if you do not need or have to sell within the next 24 to 36 months, now would be a good time to actually remove your property from the market as this will in fact speed up the market recovery of your local market for Condominiums and in turn help your own cause in the future.

On the other hand, Victoria, Saanich East, Sooke, Sidney  and Central Saanich are showing somewhat Balanced Absorption Levels and this  indicates that sales prices are likely leveling off and show no reason for further drastic price adjustments (unless having been on the market for longer than average ( 45-60 days) time periods. Some minor adjustment in pricing, presentation and marketing may offer just the right solution for sellers.

The remaining areas (Saanich West, Colwood) are at Strong and Healthy Absorption levels. The current  absorption levels for these areas indicate (at this moment) that prices may have bottomed out, and have possibly entered a recovery stage, that if sustained for the next 3 to 6 months these communities may see the first signs of moderate price increases for condominiums provided that surrounding communities are also seeing improved absorption levels.

Metchosin,  Highlands,  do not have any Condominiums currently for sale.

The Concept of Absorption rates represents the amount of time it would require to sell out the currently for sale inventory at the current number of sales per month. (current inventory/ Number of sales in 30 days).

Above we show the Current Greater Victoria  Condominium Inventory and Sales Statistics, lets review traditional inventory and sales relationships.

• When we maintain approx 3 or fewer months of inventory we typically talk about a strong or potentially high inflationary market situation.
• When we maintain approx 4 to 7 months of inventory, we typically talk about a balanced to normal market situation.
• When we maintain over 7 months of inventory, we typically talk about a slow to very slow market place.

Locally there has been some perception that our local inventory and sales have been affected by an oversupply of newly constructed property, as such we are showing a break down of total, new and resale inventory. The information provided is compiled from the VREB MLS system available to Licensed Realtors. However our statistics do not include privately listed or sold property including inventory held by builders, developers and or private marketing companies, In some areas in and around Greater Victoria  this privately listed and sold inventory can potentially have a substantial impact on local absorption rates. 
As always, the information provided are general indications and may not affect any one property.

It is nearly impossible to predict or estimate when and or at what price point properties will bottom out. However given some of the information in this report  combined with some of our earlier published sales to list price ratios and our Pfanntastic Real Estate Systems, one could develop a relatively reliable indication as to short to medium term property value and property sales direction. Peter and Linda Pfann can assist both home buyers as well as sellers to determine what strategy is in their respective best interest.

Greater Victoria's Single Family Homes For Sale Inventory Reviewed

Greater Victoria Real Estate Single Family Home Values are (as many other products) affected by Supply and Demand for property in any Area and Property Type. We have all heard the statement that Real Estate is a "Supply and Demand Industry", okay we get it, so how does that affect you the home owner wanting to buy or sell...

High Demand combined with Limited Supply causes prices to go up relatively quickly.

Low Demand combined with High Supply causes prices to go down relatively quickly.

As demand increases or decreases for any type of property in any given area sales results (or the lack thereof) will affect the time on the market, list to sale price spread and eventually the prices any property will sell for.

Typically supply and demand are affected by a variety of local, regional, national, and international factors. From improving local economy to lower or higher national interest rates, from the local weather to war at the other side of the world each and every single event or issue can and often does affect in some way the local market conditions (shifts).

In order to review the current Single Family Market conditions of most areas in the Greater Victoria Market area, it is important to periodically review what both the supply and demand of various property types are at any given time.

In Review from the information below it is easy to see that there are some areas that truly have a significant oversupply of property. for example Sooke, Highlands, North Saanich and Even Sidney, show inventory absorption periods of 22, 18, 19, 11 months respectively. As such the likely hood of market recovery and increasing prices are relatively low. If you own property in those areas and are serious about selling your property, it would be best to consider very aggressive pricing and or offer considerable incentives. We have a few creative strategies that have generated substantial results for many of our clients, please contact us for details.

On the other hand Oak Bay, Esquimalt, and to a lesser degree Victoria, Saanich West, Saanich East, Metchosin, Central Saanich are showing Balanced Absorption Levels that would indicate that prices are likely leveling off and show no real reason for further price adjustments (unless having been on the market for longer than average time periods.

The remaining areas (Vic West, View Royal, Langford, Colwood) are in moderatly slow absorption. The slower absorption for these areas would indicate that moderate price adjustments may still be required if sellers are serious to sell.

The Concept of Absorption rates represents the amount of time it would require to sell out the currently for sale inventory at the current number of sales per month. (current inventory/ Number of sales in 30 days).

Above we show the Current Greater Victoria Single Family Homes Inventory and Sales Statistics, lets review traditional inventory and sales relationships.

• When we maintain approx 3 or fewer months of inventory we typically talk about a strong or high inflationary market situation.
• When we maintain approx 4 to 7 months of inventory, we typically talk about a balanced to normal market situation.
• When we maintain over 7 months of inventory, we typically talk about a slow to very slow market place.

Locally there has been some perception that our local inventory and sales have been affected by an oversupply of newly constructed property, we are showing a break down of total, new and resale inventory.

As always, the information provided are general indications and may not affect any one property.

It is nearly impossible to predict or estimate when and or at what price point properties will bottom out, however given some of the information in this report and combined with some of our earlier sales to list price ratios one could develop a relatively reliable indication as to short to medium term property value and property sales direction, which may assist both home buyers as well as sellers to determine what is in their respective best interest.

In today's review we focus on the Saanich West area   near Victoria and analyze how the current and recent sales prices relate to original list prices for the 3 key property types, single Family homes, Strata Condominiums as well as Town-homes & Duplexes.

In Saanich West  the number of sales are a significant indicator of lack of demand in an area at this time. Saanich West offers a good cross selection of all types of property available and sold in the current market place, with good property diversity and a great many options of price ranges.

With  100 total reported MLS sales in Saanich West since June 22, 2010 and hundreds currently for sale, Saanich West is proportionally one of the more active areas in the Greater Victoria area.

This is reflected  in a near balanced market in the Lower end single family homes and a balanced to seller market results in Mid Price range Town-homes & Duplexes.

Middle and High End Price Range Single Family as well as Condominiums are clearly in a Buyers Market with substantial sales price spreads from the original listing prices (93 - 94 %). One small consolation in Saanich West is that  the number of days from  listing to an actual sale is relatively short ( 38 - 55 days). In general Town-Homes and Duplexes in Saanich West are doing reasonably well with  healthy sales to list price ratio's and solid to quick sales results.

We would suggest to compare the Saanich West  results with those we published recently for the Greater Victoria Area (follow the link)

Hence we would expect prices for Saanich West  Real Estate, as far as Lower,  Mid and High end Condominiums, Town-Homes and Single Family Homes to continue to decline somewhat for the next period of time, until such time buyer confidence returns and we are seeing a return to sales to list price ratio's at or near the 96 to 98 % and sales occurring within 45 to 60 days from listing date.

At the bottom of this blog post is our interpretation of what represents a sellers, balanced or buyers market conditions.

As always we caution you to make any assumptions from general market reviews in relationship to your own property and or properties that you might be considering to purchase in the future. If you have any questions, concerns or observations about this review please do not hesitate to contact us.

Earlier this week we published our Greater Victoria Real Estate List to Sale Price Ratio Review, in it we took a birds eye view of the Victoria market place without splitting out any one geographic area. this blog can be viewed here.

When there are limited number of sales (3 or fewer) for any specific property type or price range the information  is still interesting, however not reliable to determine trends or market direction.

Given a reasonable sample of number of properties available, similar property types, price ranges and locations and time frame we offer the following ways to determine strength and or weakness in the market place.

Days on the market means the number of days between the property being listed and the date of a subject free (unconditional) sales contract existing. (it does not reflect the moving date or the date a contract with conditions (subject too's) was entered in to).

We typically consider Sales to List price ratios of 98% or higher of the listing price as a good indicator of a healthy to strong sellers market. particularly when combined with less than a 45 days on the market average.

Sales to List price ratios between 96 to 98% off the listing price and selling within the 1st 45 days on the market we consider as a balanced market.

Sales to List Price ratios lower than 96% of the listing price and selling in more than 45 days are a good indication of a buyers market.

Thank you for reviewing our

Saanich West  Real Estate List to Sale Price Ratio Review

Esquimalt Real Estate List to Sale Price Ratio Review

In today's review we focus on the Esquimalt  near Victoria and analyze how the current and recent sales prices relate to original list prices for the 3 key property types, single Family homes, Strata Condominiums as well as Town-homes & Duplexes.

In Esquimalt the very limited number of sales are a significant indicator of lack of demand in an area at this time. This does not mean the area is not appealing or desirable, just that buyers are clearly very particular as to where they will or will not buy given the options at their given budget.

With only 57 total reported MLS sales in Esquimalt since June 22, 2010 and hundreds currently for sale, it is typical that the sales to list price ratio spreads will be much more dramatic.

When there are limited number of sales for any specific property type or price range is still interesting, however not reliable to determine trends or market direction.

 In Esquimalt the sales to list price ratio's as well as the number of days on the market indicates that except for Medium priced Town-homes and Duplexes the Esquimalt market place is favoring buyers at this time.

When we compare Esquimalt with the entire Core area of Greater Victoria we know that Esquimalt sales are slower (take longer) and are showing an distinct wider spread between asking and sales price.  Please compare the Esquimalt Sales to Listing ratio results in this blog with results with those we published recently for the Greater Victoria Area (follow the link)

Hence we would expect prices for Esquimalt  Real Estate, for  Lower,  Mid and High end Condominiums, Town-Homes and Single Family Homes to continue to decline somewhat for the next period of time, until such time buyer confidence returns and we are seeing a return to sales to list price ratio's at or near the 96 to 98 % and sales occurring within 45 to 60 days from listing date.

At the bottom of this blog post is our interpretation of what represents a sellers, balanced or buyers market conditions.

As always we caution you to make any assumptions from general market reviews in relationship to your own property and or properties that you might be considering to purchase in the future. If you have any questions, concerns or observations about this review please do not hesitate to contact us.

Yesterday we published our Greater Victoria Real Estate List to Sale Price Ratio Review, in it we took a birds eye view of the Victoria market place without splitting out any one geographic area. this blog can be viewed here.

Given a reasonable sample of number of properties available, similar property types, price ranges and locations and time frame we offer the following ways to determine strength and or weakness in the market place.

Days on the market means the number of days between the property being listed and the date of a subject free (unconditional) sales contract existing. (it does not reflect the moving date or the date a contract with conditions (subject too's) was entered in to).

We typically consider Sales to List price ratios of 98% or higher of the listing price as a good indicator of a healthy to strong sellers market. particularly when combined with less than a 45 days on the market average.

Sales to List price ratios between 96 to 98% off the listing price and selling within the 1st 45 days on the market we consider as a balanced market.

Sales to List Price ratios lower than 96% of the listing price and selling in more than 45 days are a good indication of a buyers market.

Thank you for reviewing our

Esquimalt  Real Estate List to Sale Price Ratio Review

Victoria West Real Estate List to Sale Price Ratio Review

In today's review we focus on the Victoria West area of Victoria and analyze how the current and recent sales prices relate to original list prices for the 3 key property types, single Family homes, Strata Condominiums as well as Townhomes & Duplexes.

In Victoria West (Vic West) the very limited number of sales are a significant indicator of lack of demand in an area at this time. This does not mean the area is not appealing or desirable, just that buyers are clearly very particular as to where they will or will not buy given the options at their given budget.

With only 33 total reported MLS sales in Victoria West ince June 22, 2010 and hundreds currently for sale, it is typical that the ratio spreads will be much more dramatic.

The limited number of sales for any specific property type or price range is still interesting, however not reliable to determine trends or market direction.

In regards of the largest represented group of properties sold (Condominiums between $ 300,000 and $ 600,000) we would conclude that we are still in a Buyers Market for condo's in that price range, with a sale to list price ratio lower than 96% and it still takes more than 45 days to achieve a sale on average for these properties that did sell.

Hence we would expect prices for Victoria West Real Estate, as far as Mid and High end Condominiums, Town-Homes and Single Family Homes to continue to decline somewhat for the next period of time, until such time buyer confidence returns and we are seeing a return to sales to list price ratio's at or near the 96 to 98 % and sales occurring within 45 to 60 days from listing date.

At the bottom of this blog post is our interpretation of what represents a sellers, balanced or buyers market conditions.

As always we caution you to make any assumptions from general market reviews in relationship to your own property and or properties that you might be considering to purchase in the future. If you have any questions, concerns or observations about this review please do not hesitate to contact us.

Yesterday we published our Greater Victoria Real Estate List to Sale Price Ratio Review, in it we took a birds eye view of the Victoria market place without splitting out any one geographic area. this blog can be viewed here.

Given a reasonable sample of number of properties available, similar property types, price ranges and locations and time frame we offer the following ways to determine strength and or weakness in the market place.

Days on the market means the number of days between the property being listed and the date of a subject free (unconditional) sales contract existing. (it does not reflect the moving date or the date a contract with conditions (subject too's) was entered in to).

We typically consider Sales to List price ratios of 98% or higher of the listing price as a good indicator of a healthy to strong sellers market. particularly when combined with less than a 45 days on the market average.

Sales to List price ratios between 96 to 98% off the listing price and selling within the 1st 45 days on the market we consider as a balanced market.

Sales to List Price ratios lower than 96% of the listing price and selling in more than 45 days are a good indication of a buyers market.

Thank you for reviewing our

Victoria West Real Estate List to Sale Price Ratio Review

Greater Victoria Real Estate List to Sale Price Review

Many people enjoy and find statistical information about Victoria Real Estate very interesting.

The dilemma is that statistics are not always correctly interpreted by the media and hence the general public. This is partly to blame to due the information provided , the complexity of the information and or how the information is being reviewed.

We hope that the property sales review included in this review clear up a number of possibly long held mis-conceptions about the Victoria Real Estate Market place.

When we look at Greater Victoria Real Estate actual sales activity, and trying to determine from these sales how Victoria Home buyers and sellers are arriving at acceptable sales prices (market values) is one way by which we often try to establish what the mood and trend in the market place is.

What we look for are the spread or difference between list and sale price as well as the time on the market to monitor the confidence, mood, and direction of the Victoria Real Estate market place.

We have included an overview of sales results for the 3 key property types (Single Family Homes, Strata Condominiums and Town-house/duplexes) sold in our region and have broken these 3 property types down in 3 distinct price ranges Low, middle and high end)  in order to show how significantly different each price range and each property type is affected by the current market conditions.

Below the spreadsheet is "our" review of buyer, seller and balanced market conditions, many agents use their own interpretation to review information.

Today we wanted to give you a rather broad overview, and as always we caution you to make any assumptions from this review in relationship to your own property and or properties that you might be considering to purchase in the future.

If you have any questions, concerns or observations about this review please do not hesitate to contact us. Over the next few days we will publish similar reviews Specific to Victoria West, Saanich West and Esquimalt.

Given a reasonable sample of number of properties available, similar property types, price ranges and locations and time frame we offer the following ways to determine strength and or weakness in the market place.

Days on the market means the number of days between the property being listed and the date of a subject free (unconditional) sales contract existing. (it does not reflect the moving date or the date a contract with conditions (subject too's) was entered in to).

We typically consider Sales to List price ratios of 98% or higher of the listing price as a good indicator of a healthy to strong sellers market. particularly when combined with less than a 45 days on the market average.

Sales to List price ratios between 96 to 98% off the listing price and selling within the 1st 45 days on the market we consider as a balanced market.

Sales to List Price ratios lower than 96% of the listing price and selling in more than 45 days are a good indication of a buyers market.

As the Review indicates for most property types and price ranges we are either in a Buyers market, with some segments at or near a Balanced Market.

High End Single family homes, Mid and High End Strata Condominiums are obviously the property types and price ranges that buyers and seller are seeing the biggest spreads between asking and sales prices as well as the longest periods of time on the market.

Is Downtown Victoria BC Ready For a Public Market?    We think so.....

Greater Victoria is such a dynamic and vibrant community that is has always surprised me that we do not have a large centrally located "covered" Public Market.

There are many smaller and very popular community public markets, and they are just awesome to visit, shop and support our local farmers, crafts people and producers of great merchandise of a wide variety. We would never suggest that we need a big public market in order to chase the small local and neighborhood markets away. The closest City to offer a real success story for a large public market is Vancouver with its world famous "Granville Island Public Market".

Growing up in Holland, the street versions of the public markets hold many of my fondest memories, french fries (patat) in a cone shaped old newspaper, earning a few guilders with helping with the clean up, playing between the stalls, seeing all the super fresh products, and having the smells, flavors and colors make our mouths water. It still brings smiles to my face.

All over the world public markets have always and will continue to offer local and regional farmers, fishermen, enterpreneurs, trades, artists and small business people an opportunity to offer their products, talents and wares to millions of people everyday.

With all that our Capital Region has to offer, and the already growing support for buying local, the time is ripe for us to find ways to create, participate and support The Victoria Public Market in the next 12 to 24 months.....

The Victoria Downtown Public Market Society, is a new (August 2010) organization with a mandate to raise awareness, support and funds to open a year round public market in the downtown core of Victoria.

In order for the Victoria Downtown Public Market Society to really kick off their efforts, they are organizing the "Eat Here Now" Victoria Harvest Fest, on Sunday September 26, 2010 at Centennial Square between 11 am and 4 pm

For sure we will check it out and if possible find ways to offer our support for what we consider to be a positive and innovative way to encourage our local farmers, growers, bakers etc.  Hope to see you all there this Sunday, and at a year round public market in the near future, a long over due service and attraction for Victoria residents and visitors alike.