May 2022 Stats and Market Update
A total of 761 properties sold in the Victoria Real Estate Board region this May. A 7.6 per cent decrease from April 2022.
"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,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “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."
There were 1,776 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2022, an increase of 30.1% compared to the previous month of April.
Good news buyer!! INVENTORY!! Except now you've got increased interest rates as well... the battle continues.