Real estate market returning to seasonal form

Greater Victoria's real estate industry is seeing signs of a return to seasonal trends after several years of atypical patterns caused by pandemic disruptions.

Active listings increased slightly in June, which helps with ongoing supply issues.

"This inventory is very welcome, as we are still low on available listings for sale compared to historical counts," Victoria Real Estate Board Chair Graden Sol said in a news release. "If inventory continues to rise, we may see prices stabilize further — another reminder of how important it is to add supply to the marketplace where possible."

The benchmark value for a single-family home in Greater Victoria's core was $1.31 million in June. That's up from May but less than June 2022, when the benchmark value was $1.4 million.