Last June, there were 942 properties sold. This June was down 35% with 612 properties sold in the Victoria region. This decline is not a bad thing. The market is starting to return to a more normal level than we are used to in the region.
More inventory is making its way to the market meaning that buyers have more choices. This is also great as it allows people time to make these important decisions about listing their home or buying a home. More time to work with a mortgage broker and Realtor means people can make informed choices and feel less rushed.
Inventory rose to 2,059 active listings at the end of June, which is a 15.9% increase compared to May, and a 49.7% increase from June 2021 which saw only 1,375 active listings.
This is a great time to consider selling if you are downsizing or needing something that fits your life better. You now have time and options to find the next place in your journey while still being able to get great value for your home within this current market.
If you have questions or are unsure about what this market might mean for you and your journey, please feel free to reach out and ask. We’re here to help you make good decisions.