Real estate sales up as market returns to traditional seasonal pattern

Property sales in the capital region rose about 15 per cent last month from June of 2022, as the real estate market returns to a more traditional pattern that follows the seasons, said Victoria Real Estate board chair Graden Sol.

“This seasonal trend is ­generally followed by a summer market which remains ­stable but is not as highly active.” Of last month’s total sales, 673 were for residential properties. The rest included lots, acreages and commercial properties. Condominium sales rose almost 20 per cent in June from the same month last year, with 242 units sold.The benchmark price for a single-family house in the Victoria core area was $1.3 million last month, down from $1.4 million in June 2022. May’s benchmark price was $1.29 million.For condominiums, the benchmark price in the core was $573,800 in June, down from $615,200 in June 2022. May’s benchmark was $569,300.

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