The picturesque municipality of Sooke is nestled between the Sooke hills and the Sooke Basin and is considered one of B.C.’s fastest-growing communities. New home construction can be seen throughout the town, although according to Bev Berger, a real estate agent with RE/MAX Camosun Westside, sales in the last quarter have slumped. “The last four months have been a bit slower than we typically want it to be,” said Berger. She says it was not your average bustling spring real estate market, with sales seeing a 19 per cent dip year over year. “We’re for sure into a buyer’s market,” said the agent. “There is a lot more to choose from, and we’ve got more inventory on the market than we’ve had in 10 years.” On the value side, before COVID, Berger says the average sale price for a single-family detached home was sitting at $704,000. That price peaked at around $920,000 following the pandemic, but now prices seem to have come back down. “Now we’re at $707,000, so there has been a correction,” said Berger. Prices elsewhere in the Capital Region, according to recent data from the Victoria Real Estate Board, have held relatively steady, seeing a very small dip. Over the past 10 years, Sooke’s population has added roughly 4,000 residents, and with that growth come growing pains. Congestion along Highway 14 in and out of Sooke has been increasing. Access to health care has been cited as a concern with potential buyers, along with aging infrastructure. Maja Tait is Sooke’s mayor and says Sooke isn’t alone when it comes to issues related to increased population growth. “Things are happening, and it’s the same challenges that many local governments have seen throughout B.C.,” said Tait. The mayor says a new health clinic has just opened next to the municipal hall building, with a new Urgent Primary Care Unit set to break ground behind Sooke’s library soon. Work is also underway now near Saseenos Elementary School to improve safety and traffic flows on that stretch of highway. “Yes, there is a commute to Victoria, but there is also that distance from the core and urban centre. Is that something worth celebrating?” said Tait. “Your money goes way farther out here. You can get a larger home, a newer home, a larger property,” said Berger. “For people going into the market, it is a fantastic time to buy.” Berger says real estate is a long game and is generally a solid investment, meaning over time, values will once again climb in Sooke, that is if you’re willing to put up with a few growing pains along the way.
