Real estate market showing signs of spring thaw
The Victoria Real Estate Board released its latest take on the region’s market this week, before the change in interest rates was announced.
“A lot of folks who have been watching the market over recent years may find that now is a good time to sell and buy as market conditions have changed for the better,” VREB Chair Laurie Lidstone said.
A total of 763 properties sold in the region this May, slightly less than the same month last year. There were 3,338 active listings for sale at the end of May, a 52.5 per cent increase from the 2,189 active listings for sale at the end of May 2023.
The benchmark value for a single family home was $1,309,700, up from April’s value of $1,301,800. The benchmark value for a condominium in May 2024 was $569,500, up from the April value of $561,200
