Strong start to summer for real estate market
| The latest numbers offer more evidence Greater Victoria’s real estate sector has moved beyond the uncertainty that had disrupted markets over the past five years.
“Recent market trends suggest that we have finally transitioned from a pandemic-driven market to more conventional patterns,” Victoria Real Estate Board Chair Dirk VanderWal said. “We have experienced consecutive months of a healthy and balanced market that includes listing inventory levels we have not seen in a decade paired with steady sales. Despite economic uncertainties weighing on consumer confidence, Victoria continues to demonstrate resilient market conditions.” VREB said a total of 761 properties sold in June, up 15.1% from June 2024. “Noteworthy this past month is a large uptick in the number of condos sold,” VanderWal said. “It will be interesting to see if this continues through the summer and becomes a trend.” The benchmark value for a single family home in June was $1,325,400, down from May’s value of $1,326,600. The benchmark value for a condominium in June was $562,800, down from the May value of $564,100. |
