Victoria Real Estate Market Update: May 2024

Victoria Real Estate Market Update: Spring 2024 (Balance & Buyer Opportunity)
Looking to buy or sell a home in Victoria, BC? This Spring 2024 update from the Victoria Real Estate Board (VREB) reveals a market in a state of stability with some positive signs for buyers. Here's a quick breakdown:
Sales Growth: Total property sales in Greater Victoria and the Southern Gulf Islands rose 6.4% compared to April 2023, indicating healthy market activity.
Balanced Market: Both single-family homes (up 3.7%) and condominiums (up 1.5%) saw a slight sales increase year-over-year, suggesting a balanced market with opportunities for buyers and sellers of various property types.
Shifting Inventory: A significant increase in active listings (14% compared to March 2024 and a whopping 47.7% compared to April 2023) might signal a potential shift towards a buyer-friendly market with more options and potentially more negotiating power.
Source: www.vreb.org/c...
As always make sure to leave your questions in the comments below.
The PRIME Real Estate Team
RE/MAX Island Properties
Victoria British Columbia Canada
www.PRIMETeam.ca
[e-mail]
250-419-7439

[@DTrent-uy1wl]

House prices up? Did not happen