Victoria Realty Market Statistics June 2022

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Featured image for Victoria Real Estate Market statistics in 2022

Fresh off the presses! We have just published the June 2022 monthly real-estate activity in Victoria compared to June 2021.

Victoria Real Estate Stats for Condos and Apartments in June 2022

The Real Estate market in Victoria BC is moving to a more balanced scenario with single family homes leading the way.

Illustration showing Victoria Real Estate Statistics for Condos and Apartments in June 2022

The majority of price adjustments we are seeing are from sellers who overshot the market getting into line, and generally the prices appear to have stabilized.

Victoria Real Estate Stats for Single Family Homes in June 2022

The next round of interest rate hikes will likely cause a bit more softening in the single family market.

Illustration showing Victoria Real Estate Statistics for Single Family Homes in June 2022

This softening doesn’t necessarily mean the prices will drop, but the number of sales will decline as some buyers get knocked out of the market.

Victoria Real Estate Stats for Row and Townhouse in June 2022

Both the Townhouse and Condo market are still in short supply, most of the projects currently under construction are basically sold out.

Illustration showing Victoria Real Estate Statistics for Row and Townhouse in June 2022

There is a two month supply of both Townhomes and Condos. High demand continues for Condos and Townhomes as these represent the affordable part of the housing market.

Geoff McLean

Geoff is an established real estate professional whose years of experience have earned him numerous awards and accolades. He has been one of the top Re/Max Realtors in the Victoria (BC) area since 1990, a Victoria Real Estate Board MLS Gold Award winner for more than 36 years, and has won many other awards over the years. What do these awards mean to you? They mean that Geoff works hard and that he produces consistently. He is well connected in the industry and in the community. Connect with Geoff via email geoff@mcleanrealestategroup.ca

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