🏡 Victoria Market Surprises in June
Sales tick upward. Listings hit new highs. The condo market moves.
📈 Sales Climb (Slightly — But Significantly)
June usually slows down. Not this year.
✅ 761 homes sold — that’s more than May and 100 more than June 2024.
It’s rare for June to beat May in sales. This could signal a subtle but real shift in momentum.
🏢 Condo Market: Price It Right and It Moves
Condos were a major part of June’s sales boost.
But it’s not because the condo market is strong — it’s because smart sellers priced aggressively and realistically.
➡️ Most buyers are owner-occupiers, not investors.
➡️ Well-maintained, well-priced units are moving. The rest? Still sitting.
📊 Listings Break Records (Kind Of)
📌 1,547 new listings in June — the highest number in 36 years!
But here's the catch:
Many are relisted properties (same home, refreshed listing).
It looks like a flood, but actual inventory growth is less dramatic than it seems.
📦 Active Listings Near Peak
Total active listings: 3,778 — a 10-year high.
Still, it’s well below historic highs (4,500–5,000 was normal pre-2015).
Expect this number to decline steadily toward the end of the year.
💵 Prices Holding Steady
Single-Family Home Median: $1,145,000Condo Median: $547,000House prices dipped slightly, condos ticked up — but overall, we’re in year 4 of a flat market. In Victoria, flat markets often precede big jumps. Two past examples:📈 +20% in 2016📈 +20% in 2021
🔮 Looking Ahead
Next Bank of Canada rate announcement: July 31
A hold or drop could bring another sales lift heading into fall.