Real estate sales slipped in June as buyers took their time to view more inventory on the market, according to the Victoria Real Estate Board.
Sales of condominiums were down 16.5% from June 2023 with 202 units sold last month. However, sales of single-family homes were up by 6.2% from a year ago, with 342 sold. “Most buyers last month would have experienced a market with more choice and more time to make decisions, and some sellers may have experienced longer than expected timelines to find their buyer,” said Lidstone.
Listings of homes for sale are on the rise, with 3,460 on the real estate board’s MLS system at the end of June. That’s up 3.7 % from May and up 47.7% from the 2,342 active listings on the market at the end of June 2023.The MLS Home Price Index benchmark value for a single-family home in the Victoria core last month was $1,295,500 — down 1.4% from the same period a year ago when the benchmark was $1,314,000, and down from May’s $1,309,700.