More listings good news for prospective home buyers

People looking to buy a home in Greater Victoria have more options to choose from as there were 30.1% more listings in May compared to April.
 
"The real estate market in Greater Victoria is returning to a steadier pace following the strange two years we experienced over the course of the pandemic," Victoria Real Estate Board President Karen Dinnie-Smyth said in a news release. "While inventory is still below historical levels for a spring market, it is now within our pre-pandemic five-year average, which is good news for buyers."
 
The cost of a single family home continued to increase, however, with the benchmark value for May at $1.446,400. That's up from $1,424,900 in April.