Sooke, a picturesque district municipality on the southern tip of Vancouver Island, lies approximately 38 kilometres west of Victoria, the capital city of British Columbia. Known for its natural beauty and close-knit community, Sooke has become an attractive destination for individuals and families seeking a balance between rural charm and accessibility to urban amenities. As of 2024, understanding the cost of living in Sooke is essential for prospective residents and investors.

Housing Costs

Housing constitutes a significant portion of living expenses in Sooke. The real estate market has experienced notable activity, with the median list price for homes in Sooke reported at approximately $937,000 in October 2024. This reflects a 1.18% increase from the previous month, indicating a steady appreciation in property values. Single-family homes had a median list price of around $995,809, while condos were listed at a median price of $544,463 during the same period.

For renters, the market remains competitive. In Victoria, one-bedroom apartments averaged $2,174 per month, showing a slight increase from the previous year, while two-bedroom units averaged $2,854.

Although specific rental data for Sooke is limited, it's reasonable to infer that rental prices are slightly lower than in Victoria, given Sooke's suburban nature.

Transportation Expenses

Transportation in Sooke involves considerations for both public transit and personal vehicle use. BC Transit operates services connecting Sooke to Victoria and surrounding areas, offering a cost-effective option for commuters. A monthly adult pass for BC Transit in the Victoria Regional Transit System is priced at approximately $85. However, residents relying on personal vehicles should account for expenses such as fuel, maintenance, and insurance. As of December 2024, gasoline prices in British Columbia averaged around $1.46 per litre.

Grocery and Food Costs

Grocery expenses in Sooke are comparable to those in Victoria, with slight variations due to transportation costs and local availability. As of December 2024, average prices in Victoria included:

  • Milk (1 litre): $2.75

  • Bread (0.5 kg): $3.19

  • Eggs (dozen): $4.22

  • Chicken breast (1 kg): $15.70

While Sooke may offer access to local produce and farmers' markets, which can provide fresh options, prices are generally aligned with regional averages.

Utilities and Other Essentials

Utility costs encompass electricity, heating, cooling, water, and garbage services. For a standard apartment, monthly utility bills average around $150. Additionally, internet services with speeds suitable for typical household use are priced at approximately $73.60 per month.

Other essential expenses include healthcare, with a standard doctor's visit costing around $59.90, and personal care items such as shampoo and toothpaste priced at $4.03 and $3.10, respectively. These costs are reflective of the general pricing trends observed in the region.

Is Sooke a Good Place to Live in 2024?

Sooke offers a unique blend of natural beauty, community spirit, and proximity to urban centers, making it an appealing place to live in 2024. The area's outdoor recreational opportunities, including hiking, fishing, and access to beaches, contribute to a high quality of life. The community is known for its friendly atmosphere and active engagement in local events and initiatives.

However, the rising cost of housing presents challenges for affordability, particularly for first-time homebuyers. The limited availability of rental properties further adds to the competitive housing market. Employment opportunities within Sooke are more limited compared to larger urban centers, potentially necessitating commuting for work. Public transportation options are available but may not be as frequent or extensive as in metropolitan areas, making car ownership more practical for some residents.

Sooke Real Estate Trend 2024

The real estate market in Sooke has shown a consistent upward trend in property values throughout 2024. The median list price for homes has seen incremental increases, with single-family homes and townhouses experiencing modest appreciation. The market dynamics suggest a steady demand for properties in the area, influenced by Sooke's desirable living environment and relative affordability compared to Victoria.

Inventory levels have fluctuated, with active listings experiencing slight decreases in certain months, indicating a competitive market for buyers. The average days on the market for properties have varied, reflecting the dynamic nature of buyer interest and market conditions. Overall, the real estate trend in Sooke for 2024 points towards sustained growth, with property values appreciating at a moderate pace, making it a noteworthy consideration for potential investors and homebuyers.

Summary

In summary, Sooke presents a compelling living option in 2024, characterized by its natural allure and community-oriented lifestyle. While the cost of living, particularly housing, has experienced increases, it remains a relatively affordable alternative to Victoria.

Prospective residents should carefully evaluate their financial situation, considering factors such as housing costs, transportation needs, and access to amenities, to determine if Sooke aligns with their lifestyle and economic expectations.