If you've been out walking your neighbourhood lately, you may have noticed a few more For Sale signs than usual, and some of them staying up a little longer. That observation lines up with the numbers. September was the month Greater Victoria's market quietly shifted, and it's worth understanding what changed and what didn't before reading too much into the headlines.

Sales Slowed Noticeably in September

A total of 463 properties sold across the Victoria Real Estate Board region in September. That's down 16.4% from September of last year and 21.7% lower than August. Single family home sales fell 17.3% year over year with 239 sold, while condo sales dipped 11% with 137 units sold. Townhomes saw the biggest pullback, down 26.4% with 53 sold.

At the same time, inventory kept building. There were 3,811 active listings at the end of the month, up 4.1% from August and 3.2% higher than this time last year. More homes to choose from and fewer buyers making moves is the combination that tips a market in the buyer's favour.

Prices by Area and Type

Benchmark prices softened slightly in most areas, but the story varies depending on where you're looking and what kind of home you own. Here's how each part of the region compared to September 2025.

Single Family Homes

Victoria Core: $1,280,100, down 2.0% year over year

Westshore: $1,019,800, down 1.2% year over year

Peninsula: $1,261,000, down 1.4% year over year

The Peninsula held up best over the past month, slipping only 0.4% from August. The Core saw the largest monthly adjustment at 1.7%, which is still a modest move for a market of this size.

Condos

Victoria Core: $547,800, up 1.0% year over year

Peninsula: $639,900, up 3.4% year over year

Westshore: $478,800, down 4.0% year over year

Peninsula condos were the only benchmark in the entire report to rise from August, up 1.5% in a single month. For downsizers looking at Sidney and the surrounding communities, that tells me demand for low maintenance living close to the water is holding steady.

Townhomes

Victoria Core: $829,400, down 1.7% year over year

Westshore: $703,100, down 0.8% year over year

Peninsula: $828,100, up 0.9% year over year

Townhomes gave back some of the gains they showed last month, with the Core dipping 3.1% from August. Because fewer townhomes are selling overall, a handful of sales can move these numbers more than usual, so I'd treat them as a direction rather than a verdict.

What a Buyer's Market Actually Means

The sales to active listings ratio dropped to roughly 15% in September. Based on research by the BC Real Estate Association, anything below 17% points to downward pressure on prices, which is how a buyer's market is defined in Victoria. VREB Chair Fergus Kyne noted that outside the early pandemic months, this is the first buyer's market we've seen here since January 2015.

He was also quick to add that one month doesn't make a trend, and I agree. September looked very different from July and August, and October could look different again. What I'm hearing in my own conversations is that buyers are taking their time, asking good questions, and feeling less pressure to compromise. Sellers who are priced for today's conditions are still finding buyers, but the margin for overpricing has gotten much smaller.

Inflation and Mortgage Rates

Canada's inflation rate held at 3.0% in August for the second month in a row, driven largely by gasoline prices. The Bank of Canada's preferred core measures sit much closer to its 2% target, which gives the Bank room to stay patient. The overnight rate has held at 2.25% since October 2025, and the next announcement comes at the end of October.

If you're wondering how today's rates would affect a purchase or an upcoming renewal, I'm always happy to connect you with a mortgage broker I trust. Looking at your whole financial picture is what gives you real clarity, and the rate is only one part of it.

Population Growth Has Nearly Stalled

Statistics Canada's latest estimates show BC's population grew just 0.1% between July 2025 and July 2026, the slowest of any province. The number of non-permanent residents in BC also kept declining, which continues to soften demand in the rental and entry level condo markets. At the same time, the share of British Columbians aged 65 and older rose to 21.1%. That's a trend I see every day in my work with downsizers who are thinking carefully about what their next chapter should look like.

Financial Pressures Are Still Real

Many homeowners are renewing their mortgages at rates well above what they locked in a few years ago, and that adjustment is showing up in household budgets across the region. If you have a renewal coming up in the next year, starting the conversation early gives you more options and less stress. A calmer market is a good time to review where you stand, rather than waiting for a deadline to make the decision for you.

Looking Ahead

Inventory usually tapers off through the winter, so today's level of choice may not carry into the new year. If you're a qualified buyer, this fall offers more selection and more room to negotiate than we've seen in a long time. If you're selling, an honest conversation about pricing for today's market, rather than last spring's, matters more than ever.

For downsizers, there's an upside here that's easy to miss. If you're selling and buying in the same market, softer conditions often show up on both sides of your move, and Peninsula condos have been one of the steadiest segments we track. For anyone relocating from Toronto or Vancouver, Greater Victoria is offering more choice right now than it has in a decade. Having made that move myself, I know how much easier it feels when you aren't racing against a dozen other offers.

Thinking About Your Next Move?

Every neighbourhood and property type is behaving a little differently right now, and the headlines don't tell the whole story. Whether you're buying, selling, downsizing, or simply curious about what your home is worth in today's market, I'm happy to walk you through what these numbers mean for your situation.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
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There's something special about watching a local business find exactly where it's supposed to be. That's how it felt walking into Katherine Margetts' new space at The Shop, Sidney by the Sea. Just over a month ago, she moved the shop from Bevan Ave to Beacon Ave, right on Sidney's main street, and you can already feel the difference. The foot traffic tells the story before you even step inside.

I interviewed Katherine as she walked me through the new space, pointing out everything from the layout to her favourite new finds along the way, and you can watch the full conversation above. It's a bigger space with a better layout, and it still has everything she's known for. Vintage finds worth digging through, new housewares, clothing, and gifts that feel genuinely curated rather than mass produced. Nothing about it feels like a big box store, and that's exactly the point.

I've known Katherine for a while, and she puts her whole heart into this shop. Getting to see her settle into a space that finally fits the vision was a good day. If you're relocating to Sidney or just visiting for the afternoon, this is exactly the kind of local shop worth finding. It's a great stop for anyone who wants a real feel for the community, not just a postcard version of it.

The Shop, Sidney by the Sea is located at 2506 Beacon Ave, #107, Sidney, BC V8L 3E1. You can find Katherine and her latest finds on Instagram at @the_shop_sidney_by_the_sea.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
Instagram | Facebook

Every sold sign tells a story, and this one is a favourite of mine. I recently represented the buyer on a bright, one level townhome in The Meadows, a gated 55+ community just a stone's throw from Sidney by the Sea. Two patios, a double garage, and everything on one floor. It’s the kind of home that makes downsizing feel less like giving something up and more like gaining something back.

But this post is not really about that townhome. It’s about what happened before the sold sign went up, because that is where the real work lives.

Downsizing Is Rarely Just About Square Footage

When someone comes to me thinking about their next chapter, the conversation almost never starts with a list of must haves. It starts with a feeling. Maybe the stairs have become a chore. Maybe the garden feels like more responsibility than joy these days. Maybe family is scattered and a smaller, simpler home closer to community feels like the better fit for this stage of life. Whatever the reason, there is usually some grief tucked in alongside the excitement, and I think that deserves to be honoured rather than rushed past.

My job is to slow things down enough that my clients can think clearly. We talk through what daily life will actually look like in a new place, not just what the listing photos suggest. For a community like The Meadows, that means walking through practical questions together. What are the strata rules around pets and rentals? Is there a depreciation report, and what does it tell us about the building's health? How close is it really to the shops, the water, and the parts of Sidney that make it feel like home rather than just a postal code? These are the questions I ask on behalf of every client, every time, because the answers matter far more than the finishes.

Having Lived It Myself Changes How I Guide Others

I’ve lived in twenty six homes over the course of my life, including the move that brought me from Toronto to Victoria. I know what it feels like to stand in a new kitchen and wonder if you made the right choice. That experience shapes how I work with people who are relocating to Vancouver Island or right sizing into a new stage of life here. I am not just pointing you toward a property. I’m helping you picture your mornings there, your walk to the shops, the neighbours you might meet at the clubhouse.

That is why so much of my practice is built around connection, not just closings. I want my clients to feel rooted in their new neighbourhood from day one, whether that means introducing them to a local business I trust or simply being honest about what a community is really like to live in, not just to visit.

If You Are Wondering What Is Next

If any of this sounds familiar, if you have been quietly wondering what right sizing could look like for you, I would love to talk. There is no pressure and no script. I also put together a smart downsizing guide that many of my clients have found helpful as a gentle starting point, and you are welcome to grab a copy any time at yourvanislehome.com.

Congratulations to my clients on their beautiful new home in The Meadows. Here is to the next chapter, and to feeling settled in it.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
Instagram | Facebook

There's a question I hear more than almost any other from clients who are thinking about moving to Vancouver Island. It comes up toward the end of conversations, almost like an afterthought, but it never really is. The question is: where should we stay when we come to look?

It sounds practical, and it is. But what's behind it is something bigger. The trip to Vancouver Island is often the moment everything becomes real. It's when you stop imagining the move and start actually picturing it. Where you stay, how you wake up, whether you can walk somewhere for coffee, whether the town feels right at seven in the morning before you've seen a single house — all of that shapes what you come home with.

For a long time I gave my clients the best guidance I could. But I didn't have a place I could point to and say: go here, I trust this completely, this is the right base for the trip you're about to take.

That changed when I walked into The Sidney Pier Hotel.

The Sidney Pier sits right on the waterfront in Sidney, at the edge of Beacon Avenue and the marina. It's a short walk to the bookshops, bakeries, and coffee spots that make this town so easy to fall in love with on a first visit. The building is modern and thoughtfully designed, with a spa on site and a restaurant downstairs. It doesn't feel like a place you pass through. It feels like a place you settle into.

I should mention: the hotel has just completed a full reimagining of the suites. New finishes, new furnishings, and a feel that's warmer and more considered than before. The bathrooms are spa-inspired and well-appointed. The kitchens and kitchenettes are beautifully fitted out. It's the same stunning waterfront location — the views haven't changed — but the experience inside has been genuinely elevated. If you've stayed here before, it's worth coming back with fresh eyes.

I've partnered with The Sidney Pier Hotel to offer my relocation clients a special rate on three specific room types as part of working with me.

The Townview Suite is a spacious studio with a king bed, a full kitchen, and west-facing views over the heart of Sidney. It's the room for clients who like to cook their own breakfasts and spread out a little. The Seaport or Courtyard King is a comfortable, well-appointed guestroom with everything you need, offering views of either the courtyard or the town of Sidney. And the Coastal King or Queen is a beautifully designed room with courtyard or Beacon Avenue views, with select floors offering a private furnished balcony — one of the loveliest places to have your morning coffee while you think through the homes you saw the day before.

I make the reservation personally. There's no code or link — you just reach out to me and we sort it out together as part of working with me.

Sidney is a town that tends to make the decision for people. You arrive not quite sure, you walk Beacon Avenue, you sit somewhere with a coffee and watch the ferries move across the water, and then you know. I wanted my clients to have a place that helps that happen. The Sidney Pier Hotel is that place, and with the newly reimagined suites, it's better than ever.

If you're thinking about a move to the Saanich Peninsula and want to know more about how this works, reach out. I'm always happy to talk through what the process looks like from start to finish.

Find out more and view those dreamy suites right here.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
Instagram | Facebook