As summer winds down, the Victoria real estate market followed a familiar seasonal trend—slowing slightly in August but maintaining overall stability. A total of 525 properties sold across the region, down 3.7% compared to August 2024 and 22.8% fewer than July 2025.

Condominium sales dipped by 16% year-over-year, with 152 units sold, while single-family homes saw a modest increase of 6.3%, with 268 sales.

The number of active listings at the end of August sat at 3,600, down slightly from July but up 12.8% compared to the same time last year. This boost in available inventory gives buyers more choice than they’ve had in years.

Price trends were relatively steady:

• Single-family home benchmark (Victoria Core): $1,308,100, up 1.6% year-over-year but down a bit from July.

• Condominium benchmark (Victoria Core): $551,300, down 1.4% year-over-year and from July’s value.

What This Means for Buyers

For buyers, this is a more balanced and less pressurized market than what we saw several years ago. With more inventory and stable interest rates, you have time to carefully evaluate homes, negotiate, and make decisions without the intense bidding wars of the past. Fall could bring fresh listings as sellers who prepared over summer enter the market, giving you new opportunities to explore.

What This Means for Sellers

If you’re selling, pricing strategically is key. While demand remains steady, buyers have more options and more time to compare. Homes that are well-prepared and marketed properly are still moving, but expectations around timelines should be realistic. With fall historically being a busier season than late summer, now is an excellent time to list if you’ve been waiting.

The Bottom Line

Victoria’s market is steady, balanced, and entering a season that traditionally sees more activity. Whether you’re considering buying or selling this fall, the conditions are favourable for making thoughtful, well-planned moves.

✨ Thinking about making a move this fall? Let’s connect—I’ll walk you through the numbers, help you understand where opportunities lie, and guide you toward your next home or sale.

👉 Start your fall home search or request a market evaluation here.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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I’m here to help you understand the latest in our market, influenced by both recent federal developments and local trends.

Federal Election Impact on Housing & Mortgages: A Quick Look

Following the recent federal election where the Liberal Party secured a minority government, several housing-related promises are on the horizon. Key proposals include potential GST removal on new homes under $1 million for first-time buyers and significant investment in homebuilding, particularly for rental and affordable units.

While interest rates may see further easing later this year, economic uncertainties remain. The full impact of these policies will become clearer with the upcoming federal budget.

Victoria Real Estate Market: April 2025 in Review

April saw a total of 642 properties sold in the Victoria region, a slight decrease year-over-year but an increase from March. Condominium sales decreased, while single-family home sales remained relatively stable. VREB Chair Dirk VanderWal noted that federal election uncertainty and broader US economic concerns likely tempered the spring market, yet the local market showed "continued stability" with steady pricing and inventory.

Active listings rose to 3,425, indicating a balanced market with more options for buyers. While single-family homes in certain price ranges are in demand and may see multiple offers, the condo market has a larger supply. The benchmark price for a single-family home in the Victoria Core was $1,344,800 (a 3.3% annual increase), and for a condo, it was $566,100 (a 0.9% annual increase).

What This Means for Buyers

• More inventory provides greater choice.

• Price growth is relatively stable, though some competition exists for single-family homes.

• Potential GST savings for first-time buyers on new homes are worth monitoring.

• Explore various property types, as the condo market offers more options.

What This Means for Sellers

• Strategic pricing and presentation are key in a balanced market.

• Well-priced single-family homes in desirable areas can still see strong interest.

• The condo market requires competitive pricing to attract buyers.

• Be mindful of broader economic and political influences on buyer sentiment.

Navigating Your Real Estate Future:

Understanding the nuances of interest rate decisions and their potential impact on your real estate plans is crucial. Whether you're considering buying your first home, looking to sell your current property, I'm here to provide clarity and expert guidance.

And speaking of expert guidance, navigating the mortgage landscape can feel overwhelming. If you're looking for assistance with a mortgage renewal or are considering a purchase and need trusted advice, I highly recommend connecting with Paul Macara and Dan Miller of The Mortgage Group. They are seasoned professionals who can help you understand your best options in this evolving economic environment.

Don't hesitate to reach out with any questions you may have. I'm always happy to help you make informed decisions and achieve your real estate goals right here in beautiful Victoria!

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