The Victoria Real Estate Board says home buying took a breather in June, with buyers enjoying a wider selection of properties.

Sales dipped 6.2% compared to the same month last year, to 661 units sold last month, according to the board's latest data. That's also a 13.4% drop from May 2024.

Condo sales saw a steeper decline of 16.5% compared to June 2023, with 202 units finding new owners. However, single-family homes bucked the trend, with sales rising 6.2% year-over-year to 342.

Victoria Real Estate Board chair Laurie Lidstone says this slowdown aligns with typical seasonal patterns.

She emphasized that Victoria's market is a patchwork of unique areas, and "competition is still fierce in certain pockets and price ranges."

The number of homes on the market is also growing. There were 3,460 listings at the end of June, up 3.7% from May and a whopping 47.7% increase compared to June 2023.

Single-family home prices saw a slight dip. The benchmark price for a core area home in June was $1,295,500, down 1.4% from a year earlier and down from May's $1,309,700.

Conversely, condo prices edged slightly higher. The core area benchmark value last month was $567,900, a 0.1% increase from June 2023 but down from May's $569,500.

Graphic courtesty of: Times Colonist