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®
Your Van Isle Home
(250) 415-5656
jac@yourvanislehome.com
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Helping you find home — and community — here in Victoria, BC.

Buying your first home is one of the most exciting — and sometimes overwhelming — experiences in life.

When I bought my first home, I was thrilled, nervous, and completely consumed by the details. Like most first-time buyers, I had a budget, a dream list, and a lot of “what ifs.” Now, after years of helping clients through the same process, I can look back and say there are three big things I wish I’d known sooner.

If you’re thinking about taking the leap into homeownership in Victoria, these lessons might save you time, stress, and a few sleepless nights.

1️⃣ Neighbourhoods Matter More Than You Think

When I first started looking for a home, I was laser-focused on the house itself — layout, finishes, backyard size, and how close it was to work. What I didn’t fully appreciate was how much where you buy shapes how you live.

In Victoria, every neighbourhood has its own rhythm and character. Fernwood has that artsy, community feel; Cook Street Village offers endless walkability and cafés; Saanich is family-friendly with easy access to trails and parks; and Esquimalt is vibrant, coastal, and still surprisingly affordable.

Your neighbourhood becomes part of your everyday story — where you grab your morning coffee, walk your dog, or meet your neighbours at the market. The right fit isn’t just about the walls around you, it’s about the life you’ll build within and beyond them.

✨ Pro Tip: Before making an offer, spend a weekend exploring the area at different times of day. Grab lunch locally, chat with shop owners, and see if it feels like “you.”

💬 Looking for local insight? I love helping clients match their lifestyle to the right neighbourhood — not just the right home. Let’s chat about areas that may work well for you.

2️⃣ Hidden Costs Add Up

When I was budgeting for my first home, I focused on the down payment and mortgage — and completely underestimated the smaller costs that come with ownership.

Things like inspections, lawyer fees, insurance, moving costs, property transfer tax, and home maintenance all add up. None of these are deal-breakers, but they’re worth planning for so nothing catches you off guard.

When I work with first-time buyers now, one of the first things we do is map out a complete budget — not just for the purchase, but for those first few months of homeownership. That clarity changes everything.

💡 Pro Tip: Set aside 2–3% of your purchase price for closing and moving costs. It’s one of the simplest ways to stay ahead of surprises and enjoy a smoother transition.

📦 Need help building your first-home budget? I’ve created a “First Home Checklist” to guide you — download it free at YourVanIsleHome/buying.

3️⃣ You Don’t Have to Do It Alone

When you’re buying for the first time, it’s easy to feel like you need to figure everything out yourself — especially in a competitive market like Victoria. But here’s what I learned: having the right guidance makes all the difference.

A good REALTOR® doesn’t just unlock doors — they help you understand the process, ask the right questions, and make decisions that protect your long-term goals. They also connect you with trusted local professionals — mortgage brokers, inspectors, lawyers, and tradespeople — who become part of your support system.

One of my favourite parts of this job is walking my clients through the process step by step. Whether it’s celebrating a mortgage pre-approval, navigating an offer, or handing over the keys, every milestone matters — and it feels a lot less stressful when you have someone in your corner.

☕️ Buying your first home doesn’t have to feel overwhelming. Let’s sit down, map out your goals, and create a plan that fits your life and your budget.

Final Thoughts

Buying a home for the first time is so much more than a financial decision — it’s the start of a new chapter.

Looking back, I wish I’d focused less on rushing the process and more on learning from people who’d already walked the path. Now, I get to be that person for others — helping newcomers and first-time buyers find not just a property, but a place to belong.

If you’re ready to explore your first home in Victoria, I’d love to help you start strong.

💛 Ready to Begin?

✅ Download your free Home Buying Guide
✅ Explore the latest listings at YourVanIsleHome.com
✅ Or book your First-Home Roadmap Session — a friendly, no-pressure chat about your next steps.

Because finding your home in Victoria should feel exciting, empowering, and full of possibility.

—
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 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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Summer is the perfect time to give your home a little glow-up—especially if you’re thinking of selling this fall or just want to enjoy your space more while the sun’s out. The good news? You don’t have to break the bank to make a big impact.

Whether you're in a detached home or a condo, here are a few quick, affordable upgrades that can dramatically boost your curb appeal—and even your resale value.

🏡 For Houses & Townhomes: Quick Exterior Upgrades

Add Flower Boxes or Container Gardens

You don’t need a green thumb or a full landscaping crew. A few vibrant planters by your entryway or flower boxes under the front windows add instant charm and colour. Bonus: You can take them with you when you move.

Paint the Front Door

Never underestimate the power of a bold, fresh front door. It’s one of the easiest ways to transform your home’s first impression—and a new coat of paint can cost less than $50. Try classic black, welcoming navy, or a cheerful red or sage green.

Update Your Exterior Light Fixtures

Outdated lighting can drag down your exterior vibe. Swapping in sleek, modern fixtures—or even just cleaning your existing ones and upgrading the bulbs—makes your home feel more inviting and well-kept, especially in the evenings.

Refresh the Entry with New House Numbers or a Welcome Mat

These small details matter! Crisp, modern house numbers and a clean new welcome mat can subtly signal that your home is loved and maintained—two things every buyer is drawn to.

Pressure Wash Walkways and Siding

You’d be surprised how fresh everything looks with a good clean. Rent a pressure washer or borrow one from a neighbour and give your siding, driveway, and walkway a thorough wash. It’s like an instant face-lift for your home.

🏢 Live in a Condo? Boost Your Unit's Appeal, Too!

Curb appeal doesn’t stop at the front lawn. If you live in a condo, here are a few ways to make your unit stand out—whether for resale or your own enjoyment:

Style Your Balcony or Patio

Add potted plants, a small bistro set, or an outdoor rug to turn your balcony into a cozy extension of your living space. Keep it tidy and inviting—potential buyers will imagine themselves enjoying a morning coffee or evening glass of wine there.

Clean the Windows Inside and Out

Natural light is a huge selling feature in condos. Sparkling clean windows make your home look brighter and more spacious—and show buyers that the unit has been well cared for.

Declutter the Entryway or Hallway

First impressions matter, even in a shared building. Make sure your door area is clean and clutter-free. A seasonal wreath, a tasteful doormat, or even a tidy shoe rack inside your entryway can elevate the feel instantly.

Add Art or Mirrors in the Hall

If you're allowed to decorate outside your unit door, a mirror or piece of art can add personality and warmth to your hallway. Just check with your strata before drilling into common-area walls.

Thinking of listing later this year?

A few small curb appeal tweaks now can mean more eyes on your listing—and potentially more $$ in your pocket. Want to chat about how to prep your home for a future sale? I’m happy to walk you through a personalized game plan.

👉 Reach out any time—let’s make your next move your best one.

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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