The holidays have a way of bringing everyone back around the same table. There's food, laughter, old stories, and often a quiet moment when someone looks around the family home and wonders what the next few years might look like. If you've been thinking about downsizing, this season can be a natural and gentle time to start that conversation.

I've helped many families through this transition, and I've moved 26 times myself, so I know how much emotion can live inside a home. The good news is that a thoughtful conversation now can make the whole process feel calmer and more connected later. Here are a few ways to approach it with care.

Why the Holidays Can Be a Good Time to Talk

When family is together in person, conversations tend to feel more relaxed and more honest than they do over the phone. Everyone can see the home, talk about what's working and what isn't, and share ideas face to face. There's also no pressure to make a decision on the spot. The new year is still ahead, which leaves plenty of time to plan a spring move at a comfortable pace.

Start With the Why, Not the When

It's easy to jump straight into timelines and prices, but most families respond better when the conversation starts with what you're hoping for. Maybe you'd love fewer stairs, less yard work, or a home closer to the grandkids. Maybe you're ready for a walkable neighbourhood where you can stroll to a café or the pharmacy. Sharing your reasons first helps everyone understand that this is about your next chapter, not about letting go of the past.

Choose a Calm Moment

The middle of a busy holiday dinner probably isn't the best time. A quiet coffee the next morning or a walk after a meal often works far better. If you have several family members to include, consider letting everyone know ahead of time that you'd like to chat about some plans. That way nobody feels caught off guard.

Listen as Much as You Share

Adult children can have strong feelings about the family home, even if they haven't lived there in years. It may hold memories of first days of school, birthday parties, and holidays past. Give them room to share those feelings. Listening doesn't mean you have to change your plans, but it helps everyone feel heard and makes it easier to move forward together.

Talk About What Matters Most

A good downsizing plan starts with knowing your priorities. These are some of the topics families often find helpful to discuss together:

• Which neighbourhoods feel right, and how close you'd like to be to family, friends, and your favourite local spots

• What type of home suits your lifestyle, whether that's a condo, a townhome, a rancher, or a home in a 55+ community

• How much space you really need for hobbies, visiting family, or a home office

• Which belongings matter most, and which treasures family members might like to keep

• Whether buying first or selling first makes more sense for you

You don't need answers to all of these right away. Simply naming them gives everyone a shared starting point.

If You're the Adult Child Starting the Conversation

Sometimes it's the kids who notice that a home has become more work than it used to be. If you're raising the topic with your parents, lead with care and curiosity rather than solutions. Ask how they're feeling about the house and what they'd love their days to look like in a few years. Let them guide the pace. A conversation that feels respectful is far more likely to lead somewhere positive than one that feels like a plan has already been made for them.

Expect Mixed Feelings

Excitement and sadness can show up in the same conversation, and that's completely normal. Leaving a home you love is a big change, even when the next home is the right fit. Give yourself and your family permission to feel both. Many of my clients tell me that once they're settled, they wish they'd made the move sooner, but that perspective usually comes with time.

Keep It a Conversation, Not a Decision

The goal of a holiday chat isn't to sign anything or set a moving date. It's to open the door. Once everyone is comfortable with the idea, the next steps can unfold gradually over the winter. That might mean learning what your home is worth today, looking at a few neighbourhoods together, or starting to sort through belongings one room at a time.

Your Next Step

If you'd like a simple place to start, my free Smart Downsizing guide walks you through practical steps to help you plan your move with confidence. It's a helpful resource to share with family, too. And whenever you're ready, I'm always happy to meet for a relaxed conversation about your options. There's no pressure and no timeline other than the one that feels right for you.

Download your free Smart Downsizing guide here, or reach out anytime.

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

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
Instagram | Facebook

Sales activity picked up in a big way this August

August closed with 591 properties sold across Greater Victoria, up 12.6% compared to August of last year. Single family homes led the charge, up 15.3% year over year with 309 sold, while condo sales climbed just as strongly, up 15.1% with 175 units sold. Townhome sales were the one softer spot, down 4.5% with 63 sold.

There were 3,662 active listings at month end, down 4.8% from July but up 1.7% from this time last year, giving buyers real choice heading into fall.

Home prices are holding steady, with some variation by area
The benchmark price for a single family home in the Victoria Core sits at $1,301,800, down 1.2% from last year. The Westshore single family benchmark is $1,031,900, up 0.5% year over year, one of the steadiest corners of the market right now. The Peninsula benchmark is $1,266,000, down 1.9% from last year.

Condos found some footing this month.
The Core condo benchmark is $553,600, up 0.9% from August 2025, and the Peninsula condo benchmark climbed to $630,300, up 3.3% year over year, the strongest gain we're tracking anywhere. The Westshore condo benchmark eased to $485,400, down 3.8% year over year.

Townhomes stayed steady overall, with the Core benchmark at $856,300, up 1.7% year over year. Even with fewer townhomes changing hands, the ones that sold held their value well.

Buyers are engaged and moving with confidence
The sales to active listings ratio sits comfortably around 20%, right in the balanced range. What's standing out in my conversations lately isn't hesitation, it's buyers who've done their homework and are ready to act when the right home comes along.

Inflation and mortgage rates
The Bank of Canada held its overnight rate steady at 2.25% through to September 2nd, unchanged since October of last year. Most economists expect mortgage rates to remain relatively stable through the rest of 2026. If you want to better understand how this rate hold would affect you and your mortgage options, I’m happy to connect you with a great mortgage broker. Looking beyond rates at your whole financial situation will provide a clearer picture.

Population growth remains slow
BC's population growth has continued to slow, and federal policy changes reducing non-permanent residents continue to weigh on demand in the condo and rental markets, even as permanent immigration holds relatively strong.

Financial pressures are real
Mortgage renewals continue to land at rates well above what many homeowners locked in a few years ago, and delinquencies in BC remain above year ago levels. For homeowners approaching a renewal, getting ahead of your options continues to matter.

Looking ahead
The rest of 2026 continues to shape up as a balanced market with strong inventory and buyer choice, steady prices overall, and mortgage rates likely to hold near current levels through year end. Well priced, well prepared sellers, particularly of single family homes and townhomes, are still achieving strong results.

Thinking about making a move?
Every neighbourhood and property type is performing differently in today's market. Whether you are buying, selling, downsizing, or curious about what your home is worth right now, I'm happy to walk you through what this market means for your unique situation.

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

There is a particular kind of trust that only comes with time. It is the trust a client places in you not because you have convinced them of anything, but because they already know, from experience, what it feels like to work with you. That is the story behind this latest sale in Starlight Village, and it is one I do not take lightly.

Last year, I had the privilege of helping this client sell her own home and find her next one. It was a big transition, and like most big transitions, it came with a mix of excitement and uncertainty. We worked through it together, and she landed somewhere that felt right for her next chapter.

This year, she came back. This time, it was to help sell a property in Starlight Village, a small manufactured home community on the Saanich Peninsula that offers one of the more genuinely affordable paths to ownership in this market. She trusted me again, and that meant everything.

I think a lot about why repeat clients matter so much in this business. Anyone can make a good first impression. Anyone can talk a good game during a single transaction. But being asked back, being the person someone thinks of again when another need arises, that only happens when the first experience actually held up under real scrutiny. It is proof that the relationship was never about the sale. It was about showing up, listening well, and doing right by the person in front of me.

This particular home was completely renovated down to the studs, with all brand new floors, paint, appliances, and features throughout. It is the kind of fresh, move in ready space that tends to appeal to first time buyers and anyone looking for a simpler, more affordable way onto the Peninsula. Watching it go from listing to sold, with conditions now removed, has been genuinely satisfying to be part of.

If there is one thing I hope people take from this story, it is that real estate does not have to be transactional. It can be relational. It can be the kind of thing where someone trusts you with one of the biggest decisions of their life, and then trusts you again when life asks something different of them. That is the work I want to keep doing here on the Peninsula, one relationship at a time.

If you are thinking about your own next chapter, whether that means buying, selling, or simply understanding what your options are, I would love to help you figure out what that looks like.

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

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
Instagram | Facebook

Helping you find home — and community — here in Victoria, BC.