October 1, 2022

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Sale of Magnificent Waterfront Estate by Sotheby’s International Realty Canada Breaks Residential Sales Record on Vancouver Island

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Record-breaking sale of Oak Bay residence underscores growing demand for Canadian real estate, and Vancouver Island’s position as a desirable destination to live, work, and play

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VANCOUVER, British Columbia, June 08, 2022 (GLOBE NEWSWIRE) — Sotheby’s International Realty Canada has announced the sale of a breathtaking waterfront estate in Oak Bay, breaking a record for the highest recorded residential sale through the MLS® (Multiple Listing Service) system in Vancouver Island history. This sale surpasses the previous record sale of the award-winning 529 Swanwick Road residence, also set by Sotheby’s International Realty Canada.

The record-breaking home, listed by Lisa Williams of Sotheby’s International Realty Canada, sold for $13,195,000. The sale takes place as Victoria’s luxury real estate market continues to see diminishing inventory and strong demand, with only 1,365 active listings remaining according to the Victoria Real Estate Board Multiple Listing Service at the end of April 2022, a decrease of 6% year-over-year.

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“At a time when the Victoria real estate market has seen solid demand and limited inventory, this breathtaking property garnered ample interest not only from local buyers, but those who…

GlobeNewswire

2022-06-08 05:55:06

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