A More Balanced Spring Market Takes Shape

As we move into spring, the Greater Victoria real estate market is following a familiar seasonal pattern—activity is building, inventory is rising, and conditions are becoming more balanced.

A total of 579 properties sold in March 2026, which is 24.5% higher than February, but 5.5% lower than March 2025. This tells us the market is active, but without the urgency and pressure we saw in previous years.

Breaking it down further:

• 285 single-family homes sold (down 2.4% year-over-year)

• 164 condominiums sold (down 18.8% year-over-year)

At the same time, inventory continues to expand.

There were 3,261 active listings at the end of March, up 12.3% from February and 7.9% higher than March 2025—giving buyers more choice and helping create more balanced conditions overall.

Home Prices: Holding Steady with Subtle Shifts

Pricing in Victoria remains relatively stable, with small year-over-year adjustments and slight month-over-month gains.

• The benchmark price for a single-family home in the Victoria Core is now $1,330,200, down 1.1% year-over-year, but up from February

• The benchmark price for a condominium is $553,800, down 0.8% year-over-year, also increasing from the previous month

This tells us we’re not in a declining market—we’re in a stabilizing one.

The Economic Backdrop: Why This Matters

The real estate market doesn’t operate in a vacuum—and right now, the broader economy is playing a major role.

In mid-March, the Bank of Canada held its overnight rate steady, signaling a cautious approach as inflation continues to cool.

What this means:

• Borrowing costs are stable for now

• Buyers are gaining confidence to re-enter the market

• Sellers are seeing more serious, qualified buyers

At the same time, Canada is experiencing one of the largest mortgage renewal waves in decades.

Many homeowners are now:

• Renewing into higher rates

• Reassessing monthly affordability

• Exploring refinancing options

• Considering downsizing or lifestyle changes

What This Means If You’re Buying

This is one of the most balanced markets we’ve seen in recent years.

Buyers now have:

• More inventory and selection

• More time to evaluate properties

• Greater ability to include conditions

• Less pressure to compete

That said, desirable and well-priced homes are still moving quickly.

The opportunity right now:
Make informed, thoughtful decisions—without the pressure of a peak market.

What This Means If You’re Selling

The market is active—but buyers are more selective.

Today’s buyers are:

• Price-conscious

• Well-informed

• Less willing to overlook issues

Homes that are:

• Well-prepared

• Strategically priced

• Clearly positioned

…are still selling successfully.

The key right now:
Pricing and presentation matter more than ever.

What This Means If You’re Renewing or Refinancing

This is one of the biggest shifts happening in the market right now.

If you’re approaching a mortgage renewal, you may be facing higher rates than your previous term.

This is a good time to explore:

• Refinancing strategies

• Adjusting amortization

• Accessing equity

• Downsizing to reduce monthly costs

Having a plan early can make a significant difference.

A Note for Downsizers

This current market creates a unique opportunity for downsizers.

With more inventory available and less competition, you have:

• More choice when it comes to condos and townhomes

• More time to explore options

• Greater ability to coordinate your sale and purchase

At the same time, well-maintained homes in established neighbourhoods continue to attract strong interest.

For many, this is an ideal moment to:

• Simplify your home and reduce maintenance

• Unlock equity

• Move closer to amenities, family, or community

The Bottom Line

We’re in a more stable, opportunity-driven market—not a chaotic one.

That’s good news.

It means:

• Buyers can plan more carefully

• Sellers can still achieve strong results—with the right strategy

• Homeowners have options, even in a shifting rate environment

Thinking About Your Next Step?

Whether you're buying, selling, or planning ahead for a renewal, I’m here to help you navigate your next move with clarity and confidence.

👉 Reach out anytime for a conversation
👉 Or request your home value to see where you stand in today’s market

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.

Following the most recent interest rate announcement from the Bank of Canada where it was announced that the overnight rate would remain at 2.25%, many buyers and sellers are wondering the same thing: What does this actually mean for me?

Rather than reacting to headlines, the real opportunity right now lies in understanding how today’s interest rate environment affects your timing, your options, and your overall strategy — especially if you’re buying, selling, or considering downsizing.

If You’re Buying a Home

A more stable interest rate environment can make it easier to plan ahead. When rates aren’t moving rapidly, buyers often feel more confident about budgeting and long-term affordability.

That said, buying power still varies from person to person. Income, down payment, mortgage type, and future plans all play a role. My job is to help you understand what today’s rates mean for you specifically — and how to move forward in a way that feels comfortable and well thought out.

If You’re Selling a Home

For sellers, rate stability can help support buyer confidence. When buyers aren’t worried about sudden increases in borrowing costs, they’re often more willing to move ahead — provided the home is priced and positioned correctly.

This is where strategy matters most. I help sellers understand how today’s market conditions influence pricing, timing, and buyer behaviour, so you’re not leaving decisions to guesswork.

If You’re Thinking About Downsizing

Downsizing is rarely about urgency. More often, it’s about lifestyle, simplicity, and peace of mind.

The current interest rate environment can be especially helpful for downsizers because it allows time to plan thoughtfully. Many downsizers are selling and buying at the same time, which means interest rates affect both sides of the move.

I help downsizers:

• Plan the sale of their current home without pressure

• Understand what monthly costs may look like in their next home

• Explore options such as buying with cash, porting a mortgage, or using light financing

• Coordinate timing so the transition feels smooth, not rushed

Having a clear plan can make downsizing feel empowering rather than overwhelming.

Mortgage Advice Is a Key Part of the Conversation

Interest rates don’t exist in isolation — how they affect you depends on the mortgage options available to you.

I work closely with trusted mortgage broker partners who can explain financing options clearly, compare fixed and variable scenarios, and help plan renewals, refinances, or next steps. If you’d like, I’m always happy to make a warm introduction — no pressure, just good information.

Let’s Talk About What This Means for You

Whether you’re buying, selling, downsizing, or simply planning ahead, you don’t need to navigate interest rate changes on your own.

If you’d like help understanding how the latest interest rate announcement affects your situation — or if you’d like an introduction to a great mortgage broker — reach out anytime. I’m here to help you move forward with clarity, confidence, and a plan that fits your life.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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Victoria Real Estate Market Update – July 2025

The Victoria real estate market continued to show stability and opportunity this July, with moderate activity and steady pricing that offered both buyers and sellers a chance to make smart moves.

According to the Victoria Real Estate Board (VREB), 680 properties sold in July, which is up 4.6% from July 2024 but down from the busier spring pace in June 2025. Condo sales rose by 5.6% year-over-year, while single-family home sales dipped slightly by 0.3%.

So what does this mean if you’re planning a move?

For Buyers: A Stable Summer with Solid Choice

July’s numbers signal a great environment for buyers who are looking for selection and time to decide. With 3,703 active listings on the market, inventory has increased by over 10% compared to this time last year, giving buyers more breathing room and less urgency than in a competitive spring market.

Although some homes are still seeing multiple offers, the overall pace allows you to shop smarter, particularly if you're a first-time buyer or downsizing into a condo. Plus, condo prices remain slightly lower than last year—great news for affordability seekers.

For Sellers: Balanced Conditions, Motivated Buyers

While the spring rush has passed, summer buyers are still active—especially those relocating, upsizing, or timing a move around the school year. With stable pricing and solid demand, this is still a strong time to list, particularly if your home shows well in warm weather.

Benchmark prices in the Victoria Core reflect steady growth:

• Single-family homes are up 3.3% year-over-year to $1,338,800

• Condos saw a slight dip, down 0.8% to $563,300

If you're planning to sell, this market offers you the advantage of active buyers combined with predictable pricing—a recipe for realistic expectations and solid outcomes.

What’s Next for Late Summer and Fall?

The VREB notes that while the spring market has officially wrapped, we often see a pickup in sales as we move into the fall. With inventory levels remaining higher than in past years, and economic conditions settling, both buyers and sellers can enter the next season with confidence.

If you’re considering a move before the end of 2025, now is the time to get a strategy in place—before fall momentum builds and competition heats up again.

🔎 Thinking of buying or selling soon?
Let’s connect for a quick consult to review your goals and explore what makes sense based on today’s numbers.

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