A Balanced Victoria Real Estate Market Continues to Provide Consumers with Options

The latest October stats from the Victoria Real Estate Board show a steady and balanced market — good news for both buyers and sellers as we move toward winter.

A total of 617 properties sold across Greater Victoria in October 2025, down slightly (5.7%) from October 2024, but up 11.4% from September 2025. Single-family home sales rose by 2.9% year over year, while condo sales dipped 15%.

“The local real estate market remains reasonably balanced,” said VREB Chair Dirk VanderWal. “Single family homes are seeing the strongest demand, and this month marked the highest number of October sales since 2020.”

At the end of October, there were 3,423 active listings, 8.3% higher than this time last year — giving buyers more choice and time to make confident decisions.

Meanwhile, the Bank of Canada’s latest rate cut late in October is a hopeful sign for affordability. It’s still early to see how it will impact fixed and variable mortgage rates, but many buyers and homeowners are watching closely.

What This Means for Buyers

With a balanced market and more listings available, buyers have breathing room to explore options and negotiate strategically — especially for condos, where there’s a healthy selection right now. Slight dips in single-family home prices (down 1.8% from last year) also open opportunities for those ready to make a move before competition heats up again in spring.

If you’re considering purchasing, now’s the time to get pre-approved while rates may start adjusting downward. I can connect you with a trusted local mortgage broker to discuss your financing strategy before your dream home hits the market.

What This Means for Sellers

For homeowners thinking of selling, this balanced market means motivated, qualified buyers are still out there — particularly for well-priced single-family homes and townhouses. With the right preparation, presentation, and pricing strategy, your property can stand out before the seasonal slowdown.

Curious what your home could sell for today? I’d be happy to provide a personalized home evaluation to help you plan your next move confidently.

For Those Renewing Their Mortgage

If your mortgage renewal is coming up soon, this is a key moment to reassess your options. The recent Bank of Canada rate cut could offer a chance to lock in a more favourable rate or explore refinancing options that better fit your goals.

Not sure where to start? I can introduce you to an experienced mortgage broker partner who can walk you through the numbers and strategies tailored to your situation.

In Summary

The Victoria housing market continues to demonstrate balance and resilience. Whether you’re buying, selling, or renewing, staying informed and working with trusted local professionals ensures you make your next move with confidence.

📞 Ready to talk strategy?
Let’s connect to discuss how today’s market trends align with your goals. Reach out directly at 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.

The Bank of Canada just lowered its key interest rate to 2.25%, marking the second cut in a row — and for anyone thinking about buying or refinancing, this could be a golden window of opportunity. Let’s break it down.

💡 What This Means for You

The central bank’s move makes borrowing slightly cheaper, especially for variable-rate mortgages and anyone renewing soon. It’s not a massive overnight drop in payments, but it does signal a more supportive lending environment.

If you’re buying:

• Lower rates can stretch your affordability just a bit further.

• A pre-approval now locks in a lower rate if things rise again.

• Victoria’s market is still steady, so being prepared helps you act fast when the right home appears.

If you’re refinancing:

• Your variable-rate mortgage may see a small payment dip.

• Fixed-rate borrowers can explore new terms when their mortgage renews.

• It’s worth reviewing break-even numbers with a trusted broker to see if a refinance saves you money.

🌊 Why It Matters in Victoria

Our market moves differently from the rest of the country — limited supply, coastal charm, and lifestyle demand keep things balanced. A rate cut doesn’t mean “cheap housing,” but it does mean a little more breathing room and opportunity for smart, strategic buyers and sellers.

Now is a great time to:

• Review your budget and ideal monthly payment

• Get pre-approved to stay ready

• Talk strategy with your REALTOR® and mortgage advisor team

💬 Let’s Chat

Whether you’re planning to buy, sell, or refinance, I’m here to guide you with the local insight, strategy, and heart it takes to make your next move confidently. And if you need a recommendation for trusted mortgage brokers who can help make sense of your financial options, I’m happy to connect you with them. 

📞 Let’s connect today — YourVanIsleHome.com
Because finding your home (and your people) in Victoria starts with a conversation.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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Buying a strata property can be an exciting step towards homeownership. However, it's crucial to remember that along with your mortgage payment, property taxes, and utilities, you'll also have monthly strata fees. These fees cover a range of expenses related to the upkeep and maintenance of the building and common areas. Failing to factor in these fees can significantly impact your monthly budget and potentially strain your finances.

What are Strata Fees and What Do They Cover?

Strata fees are a recurring monthly charge levied on each strata lot owner within a strata corporation. These fees contribute towards various expenses, including:

• Building maintenance: This includes routine maintenance tasks such as landscaping, cleaning common areas, and repairs to the building structure.

• Insurance: Strata fees often cover building insurance, which protects the building and common areas from damage or loss.

• Amenities: If your building has amenities like a gym, pool, or party room, the fees will contribute to their maintenance and upkeep.

• Reserve fund contributions: A portion of your strata fees goes towards a reserve fund, which is used for major repairs and replacements, such as roof replacements or elevator upgrades.

• Property management: If your building has a property manager, their salary and administrative costs are typically covered by strata fees.

Why are Strata Fees Important for Your Budget?

Strata fees can vary significantly depending on the size of the building, the age of the building, the amenities offered, and the quality of building management. It's essential to consider these fees as a non-negotiable part of your monthly housing costs.

Here's a simple breakdown of how to factor strata fees into your budget:

1. Estimate your monthly mortgage payment: Use an online mortgage calculator to determine your estimated monthly mortgage payment based on the purchase price, interest rate, and loan term.

2. Calculate property taxes: Research property tax rates in the area and estimate your annual property taxes. Divide this by 12 to get your monthly property tax payment.

3. Estimate utilities: Consider your estimated monthly costs for electricity, gas, water, and internet.

4. Factor in strata fees: Obtain a copy of the strata corporation's financial statements to get an accurate estimate of the monthly strata fees.

5. Create a monthly budget: Add up your estimated mortgage payment, property taxes, utilities, and strata fees to determine your total monthly housing costs.

6. Factor in other expenses: Don't forget to include other essential living expenses such as groceries, transportation, and entertainment in your overall budget.

Tips for Budgeting Effectively:

• Review your strata corporation's financial statements: This will give you a better understanding of how your strata fees are being used and whether there are any upcoming major expenses.

• Consider the long-term implications: Keep in mind that strata fees can increase over time due to factors such as inflation and the need for major repairs.

• Build an emergency fund: Having an emergency fund can help you cover unexpected expenses related to your strata property, such as special assessments or unexpected repairs.

By carefully considering strata fees and incorporating them into your monthly budget, you can make an informed decision about whether strata living is the right choice for you and ensure that you can comfortably afford your housing costs.

Ready to start your condo search? Contact me today for a personalized consultation and let's find the perfect home for you.

Jacqueline Ross 
REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
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Spring is in the air, and so is the excitement of finding your dream home! 🌷 This is a prime time for the real estate market, but it can also be competitive. To help you navigate the spring home search with confidence, I've put together some essential tips and tricks.

1. Get Your Finances in Order 

• Pre-Approval is Key: Before you start your search, get pre-approved for a mortgage. This will give you a clear understanding of your budget and show sellers you're a serious buyer. I can point you to several professional mortgage brokers to find your best rate options.

• Down Payment & Closing Costs: Ensure you have your down payment and closing costs readily available.

2. Define Your Needs & Wants 

• Make a List: Create a list of your must-haves and nice-to-haves. This will help you narrow down your search and stay focused.

• Consider Your Lifestyle: Think about your lifestyle and what kind of home and neighbourhood will best suit your needs.

3. Find the Right Realtor (That's Me!)

• Local Expertise: A knowledgeable realtor with local expertise can make all the difference. I can provide valuable insights into the Victoria market and help you find the perfect home.

• Communication is Key: Choose a realtor who communicates effectively and is responsive to your needs.

4. Be Prepared to Act Quickly 

• Hot Market: In a competitive spring market, desirable properties can sell quickly.

• Stay Informed: Set up alerts for new listings and be prepared to view properties as soon as they become available.

5. Don't Skip the Inspection 

• Protect Your Investment: A thorough home inspection can uncover potential issues and save you from costly repairs down the road.

6. Embrace Flexibility 

• Be Open-Minded: Be open to considering different neighbourhoods or property types. You might be surprised at what you find.

7. Negotiate Strategically 

• Work with Your Realtor: I can help you craft a competitive offer and negotiate the best possible terms. I also have your back on a million other things during the buying phase.

Ready to Find Your Dream Home?

Spring is the perfect time to make your real estate dreams a reality. As your local Victoria Realtor®, I'm here to guide you every step of the way. Let's connect and find your perfect place!

Jacqueline Ross 
REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
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The Victoria real estate market has started 2025 with a healthy balance of inventory and stable prices. This positive start signals a promising year for both buyers and sellers in the Greater Victoria Area.

A total of 422 properties were sold in the Victoria Real Estate Board region this January, a significant 23.8% jump from the 341 properties sold in January 2024 and a slight 0.2% increase from December 2024. This strong performance reflects growing market momentum.

Breaking down the sales figures, condominiums saw a 30.4% increase from January 2024, with 146 units sold. Single-family home sales also rose, with a 19.8% increase from January 2024, totalling 194 sales.

“We’ve seen a strong handoff from the December market to January with a good sense of momentum building,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “Over the course of the month, we saw an uptick in new listings, and it is the first time in ten years that over one thousand new listings were added to our inventory in January. This is a positive sign for our market as we head into 2025.”

Adding to the positive news, there were 2,395 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2025. This represents a 4.6% increase compared to December and an 11.9% increase from the 2,140 active listings at the end of January 2024.

“The overall housing market in the Greater Victoria Area continues to show signs of balance,” adds Chair VanderWal. “There are strong fundamentals underpinning our market. Pricing remains stable, inventory levels are favourable when compared to recent years, and interest rates continue to trend in a positive direction for consumers. Of course, there may be uncertainty in the coming months as international trade relationships are tested, so we will track if these deliberations impact the market moving forward. As always, buying or selling your home is one of the largest financial decisions you’ll make, and your favourite local REALTOR® is your best resource to help you navigate the process.”

Looking at benchmark prices, the Multiple Listing Service® Home Price Index benchmark value for a single-family home in the Victoria Core in January 2024 was $1,252,200. In January 2025, this value increased by 2.8% to $1,287,200, although it’s down slightly from December’s value of $1,306,400. For condominiums in the Victoria Core, the benchmark value in January 2024 was $551,900. In January 2025, it decreased slightly by 0.7% to $548,100, up from December’s value of $547,800.  

This January 2025 Victoria real estate market update presents a mixed bag of news, offering both opportunities and considerations for home sellers and buyers:

For Home Sellers:

• Positive Signs: The increase in sales volume and new listings suggests a healthy level of market activity. This means there are more potential buyers out there, which is good news for you if you’re selling. The stable pricing also indicates that while the market isn't skyrocketing, it's holding its value.

• Competition: The significant jump in new listings (over 1,000 in January) means increased competition. To stand out, you need to ensure your property is priced competitively and in top condition. Professional staging and high-quality photography are more important than ever—I can help with outstanding marketing.

• Strategic Pricing: While prices are stable, they are slightly down from the previous month. Work closely with me to determine the optimal listing price that attracts buyers without undercutting your potential profit. Overpricing could lead to longer days on market.

• Market Awareness: The chair's comments about potential uncertainty due to international trade relations are worth noting. Stay informed about any developments that could affect the market, and be prepared to adjust your strategy if necessary.

For Home Buyers:

• More Choices: The increase in active listings means buyers have more inventory to choose from. This gives them more negotiating power and time to find the right property.

• Stable Prices: Stable prices provide a degree of predictability for buyers. You can be more confident in their budget and less worried about rapidly escalating prices.

• Favourable Inventory: The current inventory levels are considered favourable compared to recent years. This is a positive for buyers who have been struggling with low inventory in the past.

• Interest Rate Watch: While interest rates are currently trending positively, buyers should still carefully consider their affordability and get pre-approved for a mortgage to know their budget limits.

• Act Fast (But Wisely): While inventory is better, the increased sales volume shows that the market is still active. Don’t be too complacent, and be prepared to act quickly when you find a property you like! However, don’t rush into a decision without doing your due diligence.

In summary, the market presents a balanced scenario. Due to increased competition, sellers need to be strategic with pricing and presentation, while buyers benefit from more choices and stable prices. Both buyers and sellers should stay informed about market trends and work closely with a knowledgeable real estate professional to navigate the market successfully.

Contact me today for a personalized consultation:

Jacqueline Ross
REALTOR®
Coldwell Banker Oceanside
250.415.5656
jac@yourvanislehome.com
YourVanIsleHome.com
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