Victoria Real Estate Board President, Scott Kendrew, says the increase in inventory is good news for buyers. "There is now a good and growing choice of properties available for buyers. Although prices remain high in a number of areas, it’s important to note that more affordable properties are also available." Kendrew noted that there were 26 single family homes that sold for over $1 million last month but over 25 percent of single family homes sales were for under $375,000; over 34 percent of condominiums sold for less than $220,000.

The average price for single family homes in Greater Victoria last months was $515,755; the average for the last six-months was $519,677. The median price was substantially lower at $447,450. The average price for all condominiums sold in May was $285,256; the average for the last six months was $272,039. The median was again lower at $255,000. The average price for townhomes last month was $355,108; the average for the last six months was $358,318. The median was $325,000.

There were 909 sales of properties of all kinds through the MLS® system in May - up from 780 in April and 901 in May of last year.

MLS® sales last month included 487 single family homes, 253 condominiums, 92 townhomes and 23 manufactured homes.

Summary Reports and Graphs:
    1.  Monthly Sales Summary
    2.  Average Selling Price Graphs
    3.  Active Listings, New Listings and Sales Graphs