One of the best parts of living in Victoria, BC is discovering the small local businesses that make everyday life here feel special. From farmers markets to neighbourhood cafés, Vancouver Island is full of locally owned shops that bring personality and community to the region.

In this edition of my Local Love series, I stopped by Victoria Olive Oil Co to connect with owner Cherilee and see what’s new in the shop.

If you enjoy cooking, entertaining, or finding thoughtful gifts, this is a place worth knowing.

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🎥 Watch the short video here:
👉 https://youtube.com/shorts/xDkPd9brm6s 

What Makes Victoria Olive Oil Co Special

Victoria Olive Oil Co & Gourmet Foods has become a favourite destination for food lovers in Victoria. The shop specializes in premium extra virgin olive oils and aged balsamic vinegars sourced from around the world.

Visitors can sample a wide range of flavours and learn how different oils and vinegars can elevate everyday cooking.

Some highlights include:

• Seasonal infused olive oils
• Rich, aged balsamic vinegars
• Gourmet pantry items
• Beautiful custom gift baskets
• Perfect hostess or housewarming gifts

Whether you’re preparing a meal for friends or looking for a unique local gift, the shop offers something special.

A Perfect Stop for Entertaining and Gift Giving

Many of my clients are surprised by how many locally owned specialty food shops exist across Victoria and the Saanich Peninsula.

Victoria Olive Oil Co is one of those places that makes entertaining easy. Their gift baskets are especially popular for:

• housewarming gifts
• hostess gifts
• holiday entertaining
• corporate or client gifts

Supporting businesses like this is one of the reasons living on Vancouver Island feels so connected to the community.

Living in Victoria Means Discovering Local Gems

When people move to Victoria, they often focus on finding the right home or neighbourhood. But what truly makes a place feel like home are the businesses, cafés, markets, and shops that shape daily life.

From Sidney to the Westshore, Vancouver Island has an incredible network of independent businesses that bring character to the community.

That’s exactly why I started the Local Love series — to highlight the people and places that make living here so enjoyable.

Thinking About Moving to Victoria BC?

If you're considering a move to Victoria, BC or exploring neighbourhoods across Vancouver Island, I’m always happy to share local recommendations and insights about the communities here.

Visit YourVanIsleHome.com to learn more about:

• moving to Victoria BC
• neighbourhood guides
• local lifestyle recommendations
• real estate opportunities across the region

And follow along for more Local Love features highlighting the businesses that make this community so special.

Jacqueline Ross
REALTOR® | Coldwell Banker Oceanside Real Estate
(250) 415-5656
jac@yourvanislehome.com
www.YourVanIsleHome.com
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Sales Rebound, Inventory Grows & Balanced Conditions Firmly Take Hold

Through February, both the broader Canadian economy and the Greater Victoria housing market continued settling into a more stable and predictable rhythm after several years of rapid change.

We are no longer in a volatility-driven market.
We are in a strategy-driven one.

The Economy at a Glance

On January 28, the Bank of Canada held its key overnight rate at 2.25%, reinforcing stability in borrowing costs.

Nationally, economic growth has softened. GDP contracted in the final quarter of 2025 — the slowest annual growth since 2020 — with trade uncertainty and slowing manufacturing output contributing to weaker momentum.

The labour market remains mixed. While employment has shown resilience in some sectors, elevated unemployment levels and cautious hiring have tempered consumer confidence.

The key takeaway for homeowners and buyers alike is this: interest rates are steady and economic signals are clearer. Stability — even modest stability — reduces uncertainty and allows households to plan.

Greater Victoria Market – February 2026

February marked a noticeable shift locally.

A total of 465 properties sold across the Victoria Real Estate Board region.

That represents:
• 37.2% more sales than January 2026
• 11.9% fewer sales than February 2025

The year-over-year decline reflects normalization from stronger 2025 activity. The significant month-over-month increase signals spring momentum building.

Property Type Breakdown

Single Family Homes
206 sold
↓ 12% compared to February 2025

Condominiums
154 sold
↓ 19.8% compared to February 2025

Townhomes
66 sold
↑ 11.9% compared to February 2025

Townhomes were the only segment to see year-over-year growth, suggesting continued demand for mid-range housing options.

Inventory: The Defining Story

At the end of February, there were 2,903 active listings on the Victoria Real Estate Board MLS®.

That is:
• Up 10.6% from January 2026
• Up 10.4% from February 2025 (2,630 listings last year)

This rising inventory is what has moved our market firmly into balanced territory.

A balanced market means:
• Buyers have choice
• Sellers face competition
• Pricing matters more than urgency

We are no longer in scarcity conditions. But we are also not in a buyer’s market oversupply environment.

Prices in the Victoria Core

The MLS® Home Price Index (HPI) benchmark values tell a very steady story.

Single Family Home Benchmark
February 2025: $1,319,100
February 2026: $1,307,400
↓ 0.9% year over year
↑ From January’s $1,265,500

Condominium Benchmark
February 2025: $549,600
February 2026: $545,600
↓ 0.7% year over year
↑ From January’s $537,800

Townhome benchmark (Victoria Core): $842,800

The key detail: both single-family and condo benchmarks increased from January levels.

That signals stabilization — not decline.

Prices are not accelerating rapidly.
They are adjusting gradually and holding relatively steady.

What This Means for Buyers

Buyers are operating in a healthier environment than we’ve seen in years.

With nearly 3,000 listings available, there is more time to compare properties and negotiate thoughtfully.

Interest rates are stable. Inventory is elevated. Competition is measured.

However, well-priced homes in desirable neighbourhoods still attract attention quickly. Preparation and clarity remain advantages.

Balanced does not mean slow — it means strategic.

What This Means for Sellers

Demand is present — but it is selective.

The 37% jump in sales from January shows buyers are active as we approach spring. But with more inventory available, pricing and presentation are critical.

Testing the market is risky.
Entering strategically is effective.

Balanced conditions reward sellers who understand positioning.

Mortgage Renewals & Refinancing

Even if you are not planning to move, this market matters — especially if you have a mortgage renewal approaching.

Many homeowners who secured ultra-low fixed rates several years ago are now renewing at higher rates. While the Bank of Canada has held its key rate steady, payments may increase for some households at renewal.

Reviewing your renewal strategy early can provide flexibility and clarity.

If helpful, I’m happy to connect you with a trusted mortgage professional to explore renewal options, refinancing strategies, or simply review your numbers before your term comes up.

Looking Ahead to Spring 2026

February’s activity suggests we are entering spring with:

• Rising inventory
• Stabilizing prices
• Renewed month-over-month sales momentum
• Balanced market conditions

We are not seeing rapid appreciation.
We are not seeing distress.

We are seeing normalization.

For move-up buyers, downsizers, and long-term planners, balanced markets often create some of the best opportunities — because both sides of the transaction operate under similar conditions.

If you’d like a deeper breakdown of what this means specifically for your neighbourhood — Sidney, the Peninsula, Westshore, Victoria Core — I’m always happy to provide a personalized update.

If you’re considering a move — whether upsizing, downsizing, or relocating within Greater Victoria — planning early will create the strongest outcome.

Jacqueline Ross
REALTOR® | Coldwell Banker Oceanside Real Estate
📞 (250) 415-5656
✉️ jac@yourvanislehome.com
🌐 www.YourVanIsleHome.com
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Helping you find home — and community — here in Victoria, BC.

One of the things I love most about working in and around Sidney is how connected the surrounding communities feel. You’re never far from something special — a great walk, a thoughtful local shop, or a place that reminds you why people choose this part of Vancouver Island in the first place.

Farmer’s Daughter, located just outside Sidney in Saanich, is one of those places.

If you haven’t been yet, it’s a locally loved shop known for its carefully curated selection of cheeses, pantry staples, and specialty food items — all chosen with intention and a strong connection to local producers.

Why Farmer’s Daughter Feels So “Island”

Farmer’s Daughter isn’t about rushing in and out. It’s the kind of place where you slow down, ask questions, and discover something new — whether that’s a local cheese, a small-batch condiment, or the perfect addition to a dinner with friends.

That slower, more thoughtful way of living is something I hear people say they’re looking for all the time — especially downsizers and newcomers considering Sidney. It’s not just about the house. It’s about the rhythm of daily life.

A Lifestyle Match for Sidney Living

Sidney has a unique charm — walkable streets, ocean views, independent shops, and a strong sense of community. Farmer’s Daughter fits beautifully into that lifestyle, even though it’s technically just outside town.

It’s the kind of spot Sidney residents happily make a short drive for — and one I often recommend to clients who are getting to know the area. These are the local gems that make settling in feel personal, not generic.

Why Local Businesses Matter in Real Estate

When I help someone move to Sidney or the surrounding areas, we always end up talking about more than listings and floorplans. We talk about where they’ll shop, where they’ll walk, where they’ll bring visiting family, and what will make the place feel like home.

Local businesses like Farmer’s Daughter are part of that story. They’re what turn a neighbourhood into a community.

Local Love, Always

Supporting local businesses is something I care deeply about — both personally and professionally. They’re part of what makes living on the Saanich Peninsula and in Sidney so special.

If you’re new to the area or simply looking to explore more of what’s nearby, Farmer’s Daughter is well worth a visit.

And if you’re thinking about making a move to Sidney — or just starting to explore what life here could look like — I’m always happy to share not just market insight, but the places that make this community feel like home.

What January’s numbers, inventory levels, and interest rates mean for buyers and sellers.

As we move further into early 2026, the Victoria real estate market continues to settle into a more balanced and predictable rhythm after several years of uncertainty. With January sales now reported and interest rates holding steady, we’re seeing conditions that feel calmer, more intentional, and easier to navigate for both buyers and sellers.

The Economic Backdrop

On January 18, the Bank of Canada announced it would hold its overnight rate steady. This reflects an economy that is gradually cooling without showing signs of major stress. Inflation has continued to ease, employment remains relatively strong, and recent GDP numbers have been inconsistent month to month.

Most major banks expect the overnight rate to remain near 2.25% through much of 2026. While rates are lower than they were a year ago, the bigger shift is stability. That predictability is helping buyers plan more confidently and giving sellers greater clarity around demand.

Greater Victoria Market – January 2026

According to the Victoria Real Estate Board, 339 properties sold across the region in January. This was down from January 2025 and slightly below December, following typical seasonal patterns.

Condominium sales declined year over year, with 109 units sold.
Single family home sales also dipped compared to last January, with 153 homes sold.

Inventory remains the standout story. At the end of January, there were 2,624 active listings on the MLS®, up from both December and the same time last year. This increase in supply is easing upward pressure on pricing and giving buyers more choice than they’ve had in several years.

Board Chair Fergus Kyne noted that the market is currently sitting between balanced and buyer-leaning conditions. While one month doesn’t establish a long-term trend, January offered more selection for buyers and clearer expectations for sellers.

Pricing Trends in Victoria

Benchmark prices continue to adjust modestly. The MLS® Home Price Index benchmark value for a single family home in the Victoria Core was down approximately 2.5% compared to January last year, though prices did rise slightly from December. 

Condominium benchmark values were down about 1.5% year over year and softened from December levels.

Overall, this reflects a market that is adjusting rather than correcting, with values supported by long-term demand and improved affordability compared to recent years.

What This Means for Buyers and Sellers

For buyers, today’s market offers more choice, less competition, and stable borrowing conditions — creating space to make thoughtful decisions instead of rushed ones. Local mortgage professional Paul Macara of Macara Mortgages notes that uncertainty doesn’t automatically mean risk. When confidence is lower, buyers often gain more time to negotiate and focus on fit: the right home, the right payment, and the right mortgage structure.

“When the headlines feel noisy, the goal is simple: make sure your mortgage plan still fits your life.”
— Paul Macara, Mortgage Professional, The Mortgage Group

If you’d like an introduction to the team at The Mortgage Group, I’m always happy to connect you so you can explore your options with clarity and confidence.

For sellers, this is a market that rewards preparation, strong presentation, and realistic pricing. Buyers are moving more intentionally, and understanding how your specific neighbourhood is performing matters more than ever.

Whether you’re buying, selling, or reviewing your mortgage options, this market is less about reacting to headlines and more about making decisions that align with your longer-term plans. 

Looking Ahead to 2026

As the year continues, earlier interest rate cuts are beginning to bring some buyers back into the market, particularly those who paused during periods of uncertainty. At the same time, higher inventory levels and affordability considerations are keeping price growth in check.

Most experts are forecasting steady, measured improvement rather than a rapid rebound — a healthier pace for long-term market stability.

Whether you’re planning to buy or sell in 2026, I’d love to walk you through what this market means for your specific plans. Reach out to me at anytime 250-415-5656.

Jacqueline Ross
REALTOR® | Coldwell Banker Oceanside Real Estate
📞 (250) 415-5656
✉️ jac@yourvanislehome.com
🌐 www.YourVanIsleHome.com
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Helping you find home — and community — here in Victoria, BC.

Following the most recent interest rate announcement from the Bank of Canada where it was announced that the overnight rate would remain at 2.25%, many buyers and sellers are wondering the same thing: What does this actually mean for me?

Rather than reacting to headlines, the real opportunity right now lies in understanding how today’s interest rate environment affects your timing, your options, and your overall strategy — especially if you’re buying, selling, or considering downsizing.

If You’re Buying a Home

A more stable interest rate environment can make it easier to plan ahead. When rates aren’t moving rapidly, buyers often feel more confident about budgeting and long-term affordability.

That said, buying power still varies from person to person. Income, down payment, mortgage type, and future plans all play a role. My job is to help you understand what today’s rates mean for you specifically — and how to move forward in a way that feels comfortable and well thought out.

If You’re Selling a Home

For sellers, rate stability can help support buyer confidence. When buyers aren’t worried about sudden increases in borrowing costs, they’re often more willing to move ahead — provided the home is priced and positioned correctly.

This is where strategy matters most. I help sellers understand how today’s market conditions influence pricing, timing, and buyer behaviour, so you’re not leaving decisions to guesswork.

If You’re Thinking About Downsizing

Downsizing is rarely about urgency. More often, it’s about lifestyle, simplicity, and peace of mind.

The current interest rate environment can be especially helpful for downsizers because it allows time to plan thoughtfully. Many downsizers are selling and buying at the same time, which means interest rates affect both sides of the move.

I help downsizers:

• Plan the sale of their current home without pressure

• Understand what monthly costs may look like in their next home

• Explore options such as buying with cash, porting a mortgage, or using light financing

• Coordinate timing so the transition feels smooth, not rushed

Having a clear plan can make downsizing feel empowering rather than overwhelming.

Mortgage Advice Is a Key Part of the Conversation

Interest rates don’t exist in isolation — how they affect you depends on the mortgage options available to you.

I work closely with trusted mortgage broker partners who can explain financing options clearly, compare fixed and variable scenarios, and help plan renewals, refinances, or next steps. If you’d like, I’m always happy to make a warm introduction — no pressure, just good information.

Let’s Talk About What This Means for You

Whether you’re buying, selling, downsizing, or simply planning ahead, you don’t need to navigate interest rate changes on your own.

If you’d like help understanding how the latest interest rate announcement affects your situation — or if you’d like an introduction to a great mortgage broker — reach out anytime. I’m here to help you move forward with clarity, confidence, and a plan that fits your life.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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