Is Victoria’s market in correction?

Vancouver Island

2022/08/03

In Victoria, sales are running at a 20-yr low MoM. Meanwhile, condo prices ↓ 6-8% since the peak in March. Single-family homes, depending on the price range, are ↓ anywhere from 8-13%. Experts say a market correction is taking place and motivate sellers to list their homes to reflect that new reality.