Conclusion of a strong spring Victoria real estate market
A total of 705 properties sold in the Victoria Real Estate Board region this June, 15.2 per cent more than the 612 properties sold in June 2022 and a 9 per cent decrease from May 2023. Sales of condominiums were up 19.8 per cent from June 2022 with 242 units sold. Sales of single-family homes increased 6.6 per cent from June 2022 with 322 sold.
Well-priced properties are still selling rapidly while benchmark pricing remains reasonably level. In terms of pace and stability this is good news for sellers and buyers and hopefully heralds a summer of positive real estate transactions.
We’ve seen a small increase in inventory over the month of June, however, we are still low on available listings compared to historical counts. If inventory continues to rise, we may see prices stabilize – another reminder of how important it is to add supply to the marketplace. Well-priced properties are still selling rapidly while benchmark pricing remains reasonably level.
If you would like more information on the Victoria market and surrounding areas, please contact us at:
250-812-8188 / 250-883-6523