The summer market is officially here—and Victoria’s real estate scene is showing steady strength with all signs pointing toward balance and long-term confidence.

According to the Victoria Real Estate Board, 761 properties sold in June 2025, a 15.1% increase compared to June 2024, and slightly higher than May of this year. Both single-family homes and condominiums saw solid gains year-over-year, showing that buyers are active—and options are growing.

Key June Highlights:

• Single-family home sales jumped 17.5% from June 2024 with 402 units sold.

• Condo sales surged 23.3% with 249 units sold—a noteworthy rebound after a quieter spring.

• Active listings reached 3,778, a 9.2% increase from last June and the highest inventory levels in a decade.

• The benchmark price for a single-family home in the Victoria Core rose 2.3% to $1,325,400 compared to this time last year.

• The benchmark price for a condo in the Victoria Core dropped slightly to $562,800, down 0.9% year-over-year.

🗣️ "We observed a fairly robust real estate market in the month of June,” said VREB Chair Dirk VanderWal. “We’ve transitioned from a pandemic-driven market to more conventional patterns. Despite broader economic uncertainty, Victoria continues to show resilient fundamentals.”

What This Market Means for You

Thinking of Buying?

More listings = more choice. With the highest inventory we’ve seen in over a decade and condo prices showing some softness, this is a great time to:

• Find the right fit without rushing

• Negotiate with more confidence

• Take advantage of rate holds and expert mortgage strategies

Condo buyers especially may find more flexibility this summer—but the renewed activity in June suggests that window may not stay open for long.

Thinking of Selling?

A balanced market means serious buyers are out there—and homes that are priced and presented well are selling. If you’re considering listing this fall:

• Start prepping now to get ahead of the back-to-school wave

• Tidy up curb appeal and take advantage of summer light

• Book a market evaluation to see where your property stands today

Whether you're moving up, downsizing, or cashing in on your equity, the current market offers stability—and opportunity.

Let's Talk About Your Next Move

No matter your timeline, I’m here to guide you through the market with clarity, strategy, and real talk. Let’s make sure your next move aligns with your goals, your lifestyle, and today’s reality.

📌 Reach out anytime for a no-pressure chat—I’m always happy to help.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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Everywhere you look, mortgage rates are front and centre—but the fine print behind those low numbers can cost you more than you think. This month, our trusted mortgage broker, Paul Macara, with Macara Mortgages, has some thoughts on why it’s not always about the rate.

We get it, mortgage rates are everywhere. You see them on ads, in your inbox, and all over comparison websites. And it’s tempting to chase the lowest number on the board.

But here’s the thing: the mortgage with the lowest rate isn’t always the cheapest in the long run.

Whether you’re renewing, refinancing, or switching lenders, it’s important to look beyond the headline rate and ask a few smart questions before signing on the dotted line.

Not all mortgages are created equal

Some lenders offer teaser rates that jump sharply after the intro period. Others offer “no frills” mortgages that take away basic features like prepayments or portability just to offer a slightly lower rate.

And here’s something many borrowers don’t realize: the lowest mortgage rates are often reserved for insured mortgages—typically those with down payments under 20%. These loans carry less risk for the lender, which is why they get better pricing. So, even if a rock-bottom rate catches your eye, it may not be available to you unless your mortgage qualifies.

Before you choose, here are 10 questions you should be asking:

1. Is this rate only available on insured mortgages?
   If you have more than 20% equity, you may not qualify for the rate you saw advertised.
   

2. Can I make lump-sum payments or increase my monthly payment?
   Flexibility matters if you want to pay down your mortgage faster.
   

3. What’s the penalty if I break this mortgage?
   Life happens. Make sure you understand the cost of ending the term early. And be aware that prepayment penalties can vary widely between lenders.
   

4. Is this a short-term teaser rate?
   If the rate only lasts 6 months and then resets much higher, your long-term cost could be greater.
   

5. Is this a no-frills mortgage?
   Lower-rate products often remove useful features, which could limit your ability to refinance with other lenders, make prepayments, or move the mortgage with you if you buy a new home.
   

6. Can I transfer this mortgage to a new property?
   If you move, a non-portable mortgage could mean thousands or even tens of thousands in prepayment penalties.
   

7. Is this a fixed or variable rate?
   Fixed gives payment stability, while variable rates move with the market. What fits your risk tolerance?
   

8. How is the fixed-rate penalty calculated?
   Not all lenders’ penalty calculations are created equal Some use harsher comparison rates in their IRD (interest rate differential) formula, which can make breaking your mortgage more costly.
   

9. What’s the lender’s reputation?
   A low rate won’t mean much if service is poor or approvals are rigid.
   

10. What’s the total cost over the term?
    Ensure you know the total cost, not just the rate.

A better mortgage is about the full picture
Choosing the right mortgage is about more than rate. It’s about flexibility, protection, and making sure your mortgage fits your life…not just your budget.

Have questions or want a personal mortgage referral? I’m always happy to connect you with trusted pros like Paul—just reach out anytime.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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Victoria’s real estate market is known for its year-round activity, but summer brings a unique rhythm—and a lot of opportunity for both buyers and sellers. With longer days, lush landscapes, and balanced market conditions, this season can offer some of the smoothest and most strategic timing for making a move.

☀️ Why Summer is a Smart Time to Sell

Your Home Looks Its Best
Landscaping is in full bloom, patios and decks feel like extra living space, and natural light floods every room. These details make for beautiful listing photos and strong first impressions during showings.

Buyers Are Motivated
Many buyers aim to move before the fall, especially families trying to settle in before the new school year. That sense of urgency can work in your favour.

More Eyes on Your Listing
With longer days, open houses and evening showings are easier to schedule. People are also more likely to browse online listings during the relaxed pace of summer holidays.

Balanced Market Conditions
This year, we’re seeing a healthy supply of new listings, giving buyers more choice—and sellers a real shot at finding serious, qualified buyers without the chaos of bidding wars.

🏡 Why Summer Works for Buyers Too

Inventory Is High
According to the May 2025 stats, we’ve seen the highest number of new listings since May 2008. That’s a big deal—it means more options, less pressure, and a greater chance of finding your ideal match.

Interest Rates Are Holding Steady
With rate hikes off the table (for now), buyers have a clearer picture of what they can afford—and more predictability when budgeting for the long term.

Less Competition in Some Areas
While popular family neighbourhoods may still see strong demand, other micro-markets—like downtown condos or rural properties—may have softer activity, which could create room to negotiate.

You Can Take Your Time
More daylight, fewer weather-related delays, and flexible summer schedules make it easier to book showings, walk the neighbourhood, and really feel into a home before you buy.

🛠 Pro Tip: Know Your Micro-Market

Whether you’re buying or selling, it's important to remember: Victoria isn’t one market—it’s many. Your experience in Fairfield will be different than in Langford, and a downtown condo plays by different rules than a family home in Cordova Bay.

As I’m a REALTOR® who lives and works here, I can help you understand your exact slice of the market, and build a strategy that makes sense for your goals.

🌿 Thinking of Making a Move This Summer?

I’d love to help you navigate this season with confidence and clarity. Whether you’re planning to list soon, casually exploring what’s out there, or just want to stay informed, let’s chat about what makes sense for you.

📩 Reach out anytime for a personalized summer market snapshot.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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Summer is officially here—and whether you’re enjoying your forever home or planning to list later this year, now’s the time to give your space a seasonal refresh. Staying on top of maintenance not only protects your home’s value but also helps you enjoy it more fully during the sunny months.

Here are five essential tasks to consider this June:

🧽 1. Power wash outdoor surfaces
Decks, patios, siding, and even walkways benefit from a fresh blast to remove moss, pollen, and dirt. Don’t forget to check your driveway for oil stains or grime buildup.

🍃 2. Clean out your gutters
Even in summer, clogged gutters can cause trouble during unexpected downpours. If you’re not up for the ladder work, many local services offer quick cleanings.

🔨 3. Inspect your roof
A sunny day is ideal for a quick look at your roof—missing or cracked shingles, worn flashing, or signs of moss should be addressed now before the fall.

🌼 4. Refresh your garden beds & mulch
Trim back overgrowth, add a pop of colour with new annuals, and top up your mulch to conserve water during drier weeks.

💧 5. Tune up your irrigation system
Sprinkler or drip system? Ensure everything is working efficiently—leaks and uneven coverage can lead to high bills or stressed plants.

🌸 Bonus Section: Living in a Condo or Townhouse? Here's Your Spring/Summer Checklist

Even if your strata handles exterior maintenance, there are a few smart seasonal tasks you can take on to keep your unit in tip-top shape:

🪟 Check and clean your windows & screens
Use a mild detergent and a soft cloth to remove dirt and dust buildup. Fresh screens let in the breeze without the bugs.

🌬 Service your HVAC or A/C units
If your unit has in-suite heating/cooling, book a filter replacement or maintenance check before the hottest days arrive.

🧺 Clean your dryer vent
Lint buildup is a serious fire hazard and can reduce your dryer’s efficiency—ask your strata if you’re unsure where the exterior vent is.

🪴 Add summer life to your balcony or patio
Container plants, herbs, or a cozy chair go a long way in making your outdoor space feel like a seasonal retreat.

✨ Thinking of selling this year?

Buyers notice the little things. Seasonal maintenance and fresh curb appeal (yes, even for townhomes and condos) can help your home stand out in photos and showings. Want a personalized list to get ready? Just reply or send me a message—I'd be happy to help.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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The crocuses are blooming, the days are getting longer, and "For Sale" signs are popping up everywhere. Welcome to the spring housing market! While the warmer weather and increased inventory make it an exciting time for first-time home buyers, it's also traditionally the busiest and most competitive season in Victoria.

But don't let that deter you! With the right preparation and strategy, you can navigate the buzz and land your dream home. Here's what first-time home buyers should focus on to stay ahead and get the house they want this spring.

1. Get Pre-Approved, Not Just Pre-Qualified (and Do It NOW!)

This is the golden rule for spring market success. A mortgage pre-approval is miles ahead of a pre-qualification. A pre-qualification is a quick estimate of what you might be able to borrow, while a pre-approval means a lender has verified your financial information, credit score, and income, and committed to lending you a specific amount.

Why this matters in spring:

• Shows you're serious: In a competitive market, sellers and their agents prioritize offers from pre-approved buyers. It signals you're financially ready and reduces the risk of the deal falling through.

• Know your true budget: You'll have a clear understanding of exactly how much you can afford, saving you time and preventing you from falling in love with homes out of your price range.

• Act fast: When that perfect home appears, you'll be ready to make a strong offer without delay. Homes in the spring can sell in days, even hours!

2. Understand Victoria's Market Dynamics

While the overall Victoria market has seen some shifts, the spring market still brings a surge in listings and buyer activity.

• More inventory, more competition: You'll have more homes to choose from, but so will everyone else.

• Be prepared for quick decisions: Desirable properties, especially in prime locations, will move very fast.

• Monitor local trends: Work closely with me as your real estate agent to understand the specific dynamics of your desired neighbourhood. Are bidding wars common? Are prices holding steady or declining?

3. Define Your "Must-Haves" vs "Nice-to-Haves"

Before you even step into your first open house, sit down and make a comprehensive list.

• Must-haves: These are non-negotiable features (e.g., number of bedrooms, specific school district, attached garage).

• Nice-to-haves: These are features you'd love but could compromise on (e.g., granite countertops, a specific type of flooring, a large backyard).

• Deal-breakers: What absolutely won't work for you (e.g., on a busy road, needs major structural repairs).

Having this clarity will help you filter listings efficiently and make confident decisions when you're under pressure.

4. Assemble Your Dream Team

You wouldn't build a house without an architect and a contractor, so don't buy one without the right professionals!

• Experienced Real Estate Agent: I’m a local agent who truly understands the spring market in your desired area is invaluable. I’ll give you early access to listings, help you craft competitive offers, and navigate negotiations.

• Mortgage Broker: While banks offer their own products, a mortgage broker shops around with multiple lenders to find you the best rates and terms. They can explain different mortgage types (fixed vs. variable) and help you understand your options. I can recommend great professionals to work with.

• Home Inspector: Even in a fast-paced market, do not skip the home inspection. Spring weather can reveal issues that might be hidden in winter. A professional inspection can uncover potential problems and save you from costly surprises down the road. Need one? I’ve got you!

5. Be Ready to Make a Strong, Strategic Offer

In a competitive spring market, your offer needs to stand out.

• Competitive Price: As your agent, I’ll help you determine a fair and competitive offer based on recent comparable sales. In some areas, offering slightly over asking might be necessary.

• Limit Contingencies (Carefully!): While contingencies (like financing or inspection clauses) protect you, too many can make your offer less attractive to a seller. We’ll discuss which ones you can safely reduce or waive, especially if you have a solid pre-approval.

• Flexible Closing Date: Accommodating the seller's preferred closing date can give you an edge, even if your price isn't the absolute highest.

• Personalized Letter (Optional but Powerful): A heartfelt letter to the sellers, explaining why you love their home and envision your life there, can sometimes create an emotional connection that sways their decision.

6. Budget Beyond the Purchase Price

Many first-time buyers focus solely on the down payment and mortgage, but there are other significant costs to factor in:

• Closing Costs: These include legal fees, property transfer tax, title insurance, appraisal fees, and more. They typically range from 1.5% to 4% of the purchase price in Victoria.

• Property Taxes: Don't forget these ongoing costs!

• Home Insurance: A mandatory expense when you have a mortgage.

• Moving Expenses & Initial Repairs: Factor in costs for movers, new appliances, or any immediate fixes.

The spring market offers a fantastic opportunity for first-time home buyers in Victoria, with more choices and potentially easing prices in some segments. By being prepared, proactive, and working with the right professionals, you can confidently enter the market and achieve your homeownership dreams this season.

Don't just dream about your first home – make it a reality this spring! Start your pre-approval process today and connect with me, your trusted local real estate agent, to get a head start.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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I’m here to help you understand the latest in our market, influenced by both recent federal developments and local trends.

Federal Election Impact on Housing & Mortgages: A Quick Look

Following the recent federal election where the Liberal Party secured a minority government, several housing-related promises are on the horizon. Key proposals include potential GST removal on new homes under $1 million for first-time buyers and significant investment in homebuilding, particularly for rental and affordable units.

While interest rates may see further easing later this year, economic uncertainties remain. The full impact of these policies will become clearer with the upcoming federal budget.

Victoria Real Estate Market: April 2025 in Review

April saw a total of 642 properties sold in the Victoria region, a slight decrease year-over-year but an increase from March. Condominium sales decreased, while single-family home sales remained relatively stable. VREB Chair Dirk VanderWal noted that federal election uncertainty and broader US economic concerns likely tempered the spring market, yet the local market showed "continued stability" with steady pricing and inventory.

Active listings rose to 3,425, indicating a balanced market with more options for buyers. While single-family homes in certain price ranges are in demand and may see multiple offers, the condo market has a larger supply. The benchmark price for a single-family home in the Victoria Core was $1,344,800 (a 3.3% annual increase), and for a condo, it was $566,100 (a 0.9% annual increase).

What This Means for Buyers

• More inventory provides greater choice.

• Price growth is relatively stable, though some competition exists for single-family homes.

• Potential GST savings for first-time buyers on new homes are worth monitoring.

• Explore various property types, as the condo market offers more options.

What This Means for Sellers

• Strategic pricing and presentation are key in a balanced market.

• Well-priced single-family homes in desirable areas can still see strong interest.

• The condo market requires competitive pricing to attract buyers.

• Be mindful of broader economic and political influences on buyer sentiment.

Navigating Your Real Estate Future:

Understanding the nuances of interest rate decisions and their potential impact on your real estate plans is crucial. Whether you're considering buying your first home, looking to sell your current property, I'm here to provide clarity and expert guidance.

And speaking of expert guidance, navigating the mortgage landscape can feel overwhelming. If you're looking for assistance with a mortgage renewal or are considering a purchase and need trusted advice, I highly recommend connecting with Paul Macara and Dan Miller of The Mortgage Group. They are seasoned professionals who can help you understand your best options in this evolving economic environment.

Don't hesitate to reach out with any questions you may have. I'm always happy to help you make informed decisions and achieve your real estate goals right here in beautiful Victoria!

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