Good morning {{First name}}!
The forecast changes so fast here on the Island, but the last time we looked, we had a couple of 30 C days headed our way.
Happy Father’s Day to all dads out there.
— Mark
Today’s approx. read time: 5 minutes
🌡 Weather Forecast
NEWS
More homes, fewer buyers: Victoria real estate cools in May
Photo: Shutterstock
Year-over-year home sale figures dropped last month, even though Greater Victoria had its largest inventory of homes available for sale in 11 years.
The Victoria Real Estate Board (VREB) said 713 properties were sold last month, a drop of 5.9% from May 2025, when 758 properties changed hands.
Condo sales dropped by 14.9% from May 2025, with 188 units sold, while 385 single-family homes were sold last month, a dip of 4% from May 2025.
The board reported 4,029 active listings at the end of last month, an 8.6% increase from April and an 8.4% increase from the end of May 2025.
The Victoria Rennie Review, which tracks data strictly within the CRD, found similar results. It said a weak labour market is cutting into real estate demand.
Longtime Victoria realtor Stephen Foster tells CHEK News it’s becoming slightly more of a buyer’s market, but “we don’t see a plummeting of prices or a crashing.”
Uncertainties about the labour market, mortgage rates, what’s in store for the economy amid the war in the Middle East, and housing affordability are seen as contributing to that hesitance.
⚠ Capital Bulletin
Esquimalt road closures this morning for the Triathlon of Compassion.
Southbound Cook closures tomorrow and Tuesday from Bay to Hillside. 7am-7pm. [City of Vic]
Saanich road closure: Rowley between Arbutus and Maynard tomorrow and Tuesday, 8:30am-3:30pm.
Saanich single-lane alternating traffic:
• West Saanich between Wallace and Durrance tomorrow, 9am-3pm
• Prospect Lake Rd. between Burnside West and Woodsend tomorrow and all week, 9am-3pm
Driving today? Check the current traffic situation via Google.
On the water today? Check the tide times for Victoria.
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