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The Globe and Mail

Oceanfront Victoria home is city's highest-price sale of the year

Done Deal, 2560 Queenswood Drive, Victoria, B.C.


LISTING PRICE $8.25-million

SELLING PRICE $7.35-million

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TAXES $24,331

LISTING AGENT Glynis MacLeod, Sotheby's International Realty Canada

The Action

It was Victoria's highest priced sale in the last year. While there was a lot of local interest, there was only one offer. The Albertan buyers are a middle-aged couple with teenage children.

"We have serious buyers out at this time of year and properties priced right continue to sell well, with some multiple offers, though with subjects," listing agent Glynis McLeod says. "Victoria continues to see people on the verge of retirement or retiring moving to the city for its milder climate."

What They Got

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The luxury 6,638-square-foot home sits on 1.79 acres of oceanfront property near the University of Victoria.

The four-bedroom, six-bathroom house was custom built in 2004. It includes four fireplaces, billiard room, exercise room, theatre, three-car garage, outdoor entertainment area, hot tub and spa.

The Agent's Take

"We've seen a number of high-end sales over $5-million in our market in the last month," listing agent Glynis MacLeod says.

She says there's a shortage of inventory. Listings are about two-thirds of what they were a year ago. But sales are strong. "Spurring some of the luxury sales is a possible connection to Greater Vancouver's recently introduced 15 per cent foreign buyers' tax," Ms. MacLeod says. "Victoria has seen a doubling of property sales to foreign buyers in October."

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