If you’ve been sitting on the sidelines waiting for the right time to buy a home in Victoria, this summer might be your chance.

While spring often steals the spotlight, summer brings quieter conditions, solid selection, and the chance to move at your own pace—especially in a year where market activity is steady but not frantic.

Here’s why buyers have more breathing room right now—and how to make the most of it.

1. More Inventory, Less Pressure

The Victoria Real Estate Board reported over 3,700 active listings at the end of July—a 10% increase from this time last year. This means you have more homes to choose from and, in many cases, more time to explore your options.

While spring was fast-paced with multiple offers on hot properties, summer brings a bit more balance. You may still encounter competition on well-priced listings, but you’re also less likely to be rushed into a decision.

2. Pricing Is Predictable—And That’s a Good Thing

In July, the benchmark price for a single-family home in the Victoria Core was $1,338,800, up 3.3% from last year. Condo prices, meanwhile, dipped slightly to $563,300, which could mean great entry points for first-time buyers or investors.

Flat or slowly rising prices mean you can shop with more confidence—knowing that you’re entering a stable market, rather than one that’s swinging up or down dramatically.

3. Life Is Just Easier in the Summer

If you're relocating, upsizing, or timing a move around school schedules, summer offers practical benefits:

• More daylight = better viewing times

• Easier to coordinate movers or renovations

• Kids can start school in September already settled

• You can actually enjoy the move without rain, mud, or winter blues

And hey—what better time to fall in love with a neighbourhood than when the Island is showing off its summer best?

4. You Can Still Shop Smart

Yes, the Bank of Canada held rates steady, and that’s good news—but be aware of credit card balances or debts that might affect your approval. We broke that down in this month’s Mortgage Minute blog.

Want to get pre-approved or check if your credit score is buyer-ready? I can connect you with trusted local mortgage pros who’ll give you a realistic picture before you fall in love with a listing. Just ask me.

Let’s Make It Happen Before Fall Frenzy Hits

Late August is a perfect window for serious buyers—inventory is strong, the market is balanced, and fall competition hasn’t ramped up yet. If you're thinking of buying this year, let’s start with a quick, no-pressure chat about what you’re looking for.

🏡 Click here to book a buyer consult or browse active listings now → search

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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The Bank of Canada may have held its key interest rate steady at 2.75% for the third consecutive time, but don’t let that lull you into a false sense of financial security—especially if you're carrying high-interest debt.

Many Canadians are feeling the pressure of high borrowing costs, and one trend that continues to grow? More people are carrying credit card balances longer, often maxing them out. This can silently sabotage your chances of getting approved for your next mortgage—even if you’re making all your payments on time.

Why Your Credit Card Balance Matters to Lenders

Mortgage lenders aren’t just checking whether you pay your bills—they’re looking at how much credit you're using. Known as “credit utilization,” this is a major factor in your credit score.

If your credit card balance is regularly over 50% of your limit, your score could take a serious hit—even if you’ve never missed a payment. Why? Because credit bureaus take a snapshot of your balance at a moment in time. If it’s high on that day, it might look like you’re stretched thin financially, which can trigger red flags for lenders.

According to credit expert Richard Moxley, one maxed-out credit card can drop your score by 30 points or more, enough to affect your mortgage rate or even result in a decline.

What You Can Do if You’re a Homeowner

If you’re already a homeowner in Victoria and you’ve built up some equity, there may be a smart path forward: refinancing your mortgage to consolidate high-interest debt.

This could:

• Lower your monthly payments

• Improve your cash flow

• Help boost your credit score within a few months

Debt consolidation through refinancing isn’t for everyone, but in the right situation, it can be a game-changer—especially in a market where borrowing conditions are tightening.

Want to explore your options or get a credit check-up? Connect with our trusted mortgage broker at The Mortgage Group:

📞 Contact: Paul Macara – Mortgage Professional
📧 paul@macaramortgages.com | 📱 (250) 857-4741

What the Bank of Canada Rate Hold Means for Buyers & Sellers in Victoria, BC

In its July 30 announcement, the Bank of Canada once again held rates at 2.75%, citing ongoing trade tensions with the U.S., weaker GDP, and inflation driven by high shelter costs (especially rent).

Here’s what this means for you:

For Buyers:

• Good news: The pause in rate hikes gives buyers a window of opportunity to lock in better rates than earlier this year.

• But caution: High credit card balances could still block approvals or result in higher mortgage rates—even if the Bank hasn’t raised theirs.

If you’re thinking about buying, now’s the time to get your finances in check, review your credit utilization, and consider getting pre-approved.

For Sellers:

• Buyer confidence may return, especially among those who’ve been waiting for rates to settle.

• If you’re planning to list soon, this could be the start of more activity—but buyers will remain cautious, especially in the face of inflation and uncertain economic forecasts.

Final Thoughts: Stability Doesn’t Mean Simplicity

While a steady interest rate can be reassuring, your personal finances—including how you manage credit—can have a much bigger impact on your mortgage options.

Whether you're looking to buy, sell, refinance, or consolidate, having a plan and understanding the broader economic context can help you make your next move with confidence.

Need help navigating your next steps? Reach out to discuss a plan tailored to you.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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The summer season is often seen as a hot time for real estate—but sometimes, your home listing doesn’t get the heat you expected. Maybe the foot traffic has slowed, your listing is getting stale, or offers just aren’t coming in. Don't panic. This is more common than you think, and the good news is, there are strategic steps you can take right now to turn things around.

Here’s what to do when your home isn’t selling this summer:

1. Revisit Your Pricing Strategy

Buyers are savvy. If your home is priced too high for the current market—or doesn’t offer enough value compared to similar listings nearby—it can sit idle. Even a small price adjustment can generate new interest and bring your home back into buyers' search results.

2. Refresh Your Listing Photos

Summer light is beautiful—so use it to your advantage. If your listing photos were taken in the spring (or worse, during a gloomy winter), consider having new professional shots taken with lush landscaping, fresh flowers, and glowing natural light.

3. Boost Your Curb Appeal

Is your front yard inviting? Overgrown shrubs, faded paint, or a dated front door can give the wrong first impression. Small updates—like power washing the walkway, planting seasonal flowers, or repainting your trim—can make a big difference.

4. Reignite Your Marketing Plan

It may be time to try new marketing tactics. Has your agent promoted your home through video tours, open houses, targeted social media ads, or local features? The more eyeballs, the better. Have they left no stone unturned? Ask for a fresh marketing plan and amplify your home’s visibility where buyers are looking.

5. Stage for the Season

Make your home feel like the ultimate summer sanctuary. Think light and airy linens, fresh scents, and clean, uncluttered spaces. A well-staged home helps buyers imagine themselves enjoying summer mornings on the patio or warm evenings in the backyard.

6. Get Buyer Feedback (and Listen Closely)

If you've had showings but no offers, there’s valuable information hiding in buyer feedback. Are people mentioning the layout, finishes, or location? Adjust what you can—and speak to your agent about how to better position your home to overcome objections.

7. Consider Incentives

Sometimes a little motivation goes a long way. Offering to cover closing costs, include appliances, or provide a decorating allowance can tip the scale for a hesitant buyer.

The Bottom Line

If your home isn’t selling this summer, don’t just wait and hope—act. A few small shifts can breathe new life into your listing and attract the right buyer. Markets ebb and flow, but with a smart strategy, your home can stand out.

If your home has been sitting with little action, it might be time to rethink the brokerage representing it. If you’re considering a team with strategies that actually sell, get in touch and let’s get your home moving!

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