Just about anyone who scours real estate listing finds certain neighbourhoods to their liking. Over the past few years, I’ve noticed quite a few areas that I like, but one part of a certain neighbourhood has caught my particular attention: it’s the “Peers Creek” area in Strawberry Vale (Saanich West). Its a newer development with “executive” type houses just off Wilkinson Road with houses ranging from brand-new to ten years old. The reason that I’ve being paying attention to Peers Creek is that close to half the houses in this neighbourhood have been re-sold/bought in the past few years.
I have a number of theories with no ability to prove any of them. The houses in this neighbourhood are obviously desirable, but are typically selling for 5% to 10% below original asking price (the MLS numbers typically get updated when the price drops). Are owners deciding at mortgage renewal time that the cost of ownership is just too much? Is the rush-hour traffic getting backed up on Burnside, Helmcken and Interurban just too much to contend with? Are the big houses but little yards not as thrilling as expected? Whatever the reason, I can’t help but wonder if there are other neighbourhoods in Victoria that have seen similar high turnovers .
Which neighbourhoods do you watch?