As 2025 wrapped up, the Victoria real estate market closed the year with steady fundamentals, balanced pricing, and inventory levels that continue to shape buyer and seller behaviour heading into 2026.

According to the Victoria Real Estate Board market report released January 2, 2026, a total of 367 properties sold in December, down 12.8% from December 2024 and 18.6% fewer than November 2025. As expected for the holiday season, activity slowed, particularly in the condominium segment.

December 2025 Sales Breakdown

Condominium sales declined 21.5% year over year, with 106 units sold. Single family home sales were more stable, decreasing just 2.6% from December 2024, with 186 homes sold. While December activity softened, it followed a relatively consistent year overall.

2025 in Review

Across the full year, 6,918 properties sold in 2025, representing a modest 0.36% increase compared to 2024. This reinforces what many buyers and sellers experienced firsthand: a market that remained active, but far more balanced than in previous peak years.

Victoria Real Estate Board Chair Fergus Kyne noted that inventory played a key role throughout 2025, with the second-highest number of new listings on record entering the market. Increased choice allowed buyers more time and flexibility, while sellers benefited from clearer pricing expectations and more predictable timelines.

Inventory Levels: What They Tell Us

At the end of December, 2,544 active listings were available across the region. While that represented a 19.3% drop from November (a typical seasonal decline), it was still 11.1% higher than December 2024. This higher year-over-year inventory continues to support a more measured, informed market for both sides.

Pricing Trends Across Property Types

Benchmark prices showed some divergence depending on location and housing type:

• The Victoria Core single family home benchmark declined 4.7% year over year to $1,255,000, and was down 1.7% from November.
• Condominium benchmark values increased slightly year over year to $549,900, though they dipped 0.6% from November.

Regionally, single family home values softened in the Victoria Core, while parts of the Westshore saw modest gains. Condo prices remained relatively flat across most areas.

What This Means If You’re Buying Right Now

For buyers, today’s market offers more choice, less urgency, and better negotiating conditions than we’ve seen in years. Higher inventory levels mean buyers can take time to compare options, assess value, and make decisions that align with long-term goals rather than short-term pressure. Winter also tends to bring more motivated sellers, which can create opportunities for well-prepared buyers.

What This Means If You’re Selling Right Now

For sellers, success in this market depends on pricing accuracy, presentation, and strategy. Buyers are paying close attention to value and condition, and well-presented homes that are priced appropriately continue to perform well. Understanding micro-market trends by neighbourhood and property type is key, especially as we move toward the spring market.

Looking Ahead to 2026

Inventory levels will continue to play a major role in shaping market conditions this year. Whether you’re planning to buy, sell, or downsize, having a clear understanding of local pricing trends and buyer behaviour will help you move forward with confidence.

Whether you’re planning to buy or sell in 2026, I’d love to walk you through what this market means for your specific plans. Reach out to me at anytime 250-415-5656.

Jacqueline Ross
REALTOR® | Coldwell Banker Oceanside Real Estate
(250) 415-5656
jac@yourvanislehome.com
www.YourVanIsleHome.com
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Helping you find home — and community — here in Victoria, BC.

As we move along in December, the Victoria real estate market shows a clear shift in pace. Sales slowed in November, inventory remained healthy, and the overall tone of the market leaned toward patience — offering more breathing room for buyers and a steady, balanced environment for sellers.

Here’s what you need to know.

Home Sales Down Compared to Last Year

A total of 451 properties sold across the Victoria Real Estate Board region in November 2025. This reflects:

• 18.1% fewer sales compared to November 2024 (551 sales)

• 26.9% fewer sales than October 2025

• Yet still higher activity than November 2022 and 2023, when sales dipped below 400

Sales varied by property type:

• Condo sales: 119 units sold (down 36% year-over-year)

• Single-family homes: 241 sold (down 8.4% year-over-year)

The Board notes this year-over-year comparison looks dramatic only because 2024 experienced an unusual late-year sales rally, which is not the norm for Victoria.

Inventory Eases, But Choices Remain Strong

At the end of November, there were 3,152 active listings, representing:

• 7.9% fewer listings than October 2025

• 11.1% more listings than November 2024

Buyers still have plenty of selection, but inventory is tightening slightly as we enter the winter season — a typical trend for Victoria.

Market Tone: Balanced, Patient, and Price-Sensitive

2025 VREB Chair Dirk VanderWal describes the November mood as “one of patience.”

• Buyers are taking their time.

• Sellers who price accurately and present their homes well are still seeing results.

• The market remains balanced, without the urgency of the early 2020s.

Different neighbourhoods and property types perform differently, so understanding where your home sits on the buyer–seller spectrum is key.

Benchmark Home Prices: Stable With Mild Movement

Single-Family Homes (Victoria Core)

• November 2024: $1,313,900

• November 2025: $1,276,700 (-2.8% year-over-year)

• Slight dip from October’s benchmark of $1,280,100

Condominiums (Victoria Core)

• November 2024: $542,100

• November 2025: $553,100 (+2% year-over-year)

• Up from October’s benchmark of $549,000

Condo values continue to hold steady, while single-family pricing shows mild softening — a trend aligned with broader affordability patterns.

What This Means for Buyers

• You have time and choice, especially compared to recent years.

• Well-priced homes still move quickly, particularly in the Core, Sidney, and Saanich East.

• If you're planning to buy in early 2026, now is a great moment to start conversations and get pre-approved before the January uptick.

What This Means for Sellers

• Presentation and pricing matter more than ever in a patient market.

• Buyers are thoughtful and selective — staging, photography, and market positioning are essential.

• A complimentary home evaluation can help you understand where your home sits in today’s balanced conditions.

I Can Help You Navigate This Market

Whether you’re planning to buy or sell in 2026, I’d love to walk you through what this market means for your specific plans.

➡️ Reach out anytime for a personalized market review or home evaluation 250-415-5656.

Jacqueline Ross
REALTOR® | Coldwell Banker Oceanside Real Estate
(250) 415-5656
jac@yourvanislehome.com
www.YourVanIsleHome.com
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Get the newsletter!

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

The Victoria real estate market ended the summer on a quiet but steady note. According to the Victoria Real Estate Board, 525 properties sold in August 2025—a 3.7% dip compared to August 2024 and 22.8% fewer than July 2025. While condo sales fell 16% year-over-year with 152 units sold, single-family home sales actually rose by 6.3% with 268 homes sold.

Inventory levels also shifted. There were 3,600 active listings at the end of August, down 2.8% from July but still 12.8% higher than August 2024. This increase in availability gives buyers and sellers more breathing room compared to the fast-paced market conditions of recent years.

Price trends remain relatively stable. In Victoria’s core, the benchmark price for a single-family home rose 1.6% year-over-year to $1,308,100 (down slightly from July’s $1,338,800). Condos in the core slipped 1.4% year-over-year to $551,300.

As Board Chair Dirk VanderWal explains:
“Consumers are adjusting their expectations for the time it takes to sell, how long they have to make a decision, and what competition they will encounter. The current market allows more time for planning and decision-making—important when making one of the biggest financial choices of your life.”

What This Means for Buyers

For buyers, today’s conditions present more flexibility than even six months ago. With stable pricing, more inventory, and slightly softer competition, you have more time to make thoughtful decisions instead of rushing. The recent Bank of Canada rate cut to 2.5% has also shifted the mortgage landscape. Variable rates are trending lower, while fixed rates are softening gradually. This creates an opportunity to explore different financing options that may not have been available just a few months back.

What This Means for Sellers

If you’re planning to list this fall, know that buyers have options and are moving carefully. Homes are still selling, but the pace is steadier, and pricing your home strategically will be key. Preparing your property now could help you capture attention as the market ramps up in the fall.

Mortgage Insights: Renewals, Refinances & Rate Trends

Dan Miller and Paul Macara at The Mortgage Group note a few important updates for homeowners and buyers:

• Variable rates are trending lower following the Bank of Canada’s cut to 2.5%, though discounts are tightening.

• Fixed rates are softening, though they tend to move down gradually.

• Lenders are competing aggressively for renewals and switches, which is great news if your mortgage is coming up for renewal.

• Refinance opportunities are worth exploring if you’re considering renovations, consolidating debt, or adjusting your financial plan.

With another Bank of Canada announcement possibly happening in October, now is a smart time to connect with a trusted mortgage broker to explore your options. Let me know if you want an introduction to them.

Final Thoughts

The Victoria market is balancing out—creating opportunities for both buyers and sellers to plan ahead instead of rushing. Whether you’re buying, selling, renewing, or refinancing, you don’t have to navigate this shift alone.

If you’d like to discuss your real estate plans this fall, or be connected with my mortgage partners at The Mortgage Group for expert advice on renewals and refinances, I’d love to help.

📩 Reach out today and let’s make a plan that works for you.

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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Victoria Real Estate Market Stable in the Face of Uncertainty
The Victoria real estate market demonstrated resilience in March 2025, maintaining a stable and balanced state despite ongoing global economic uncertainties. According to the Victoria Real Estate Board, a total of 613 properties changed hands in the region this past March, marking a 4.3 per cent increase compared to the 588 sales recorded in March 2024 and a significant 16.1% jump from February 2025.

Here's a quick look at the average prices in the Victoria Core:
* Single Family Detached Homes: $1,283,842
* Townhomes: $804,796
* Condos: $642,059

Breaking down the sales by property type, condominiums saw a notable surge in activity, with 202 units sold, representing a 14.1% increase from March of the previous year. The single-family home market also experienced positive growth, with 292 sales, a 2.1% rise compared to March 2024.

"The economic uncertainty the world faces right now certainly colours our local real estate market," commented 2025 Victoria Real Estate Board Chair Dirk VanderWal. "In spite of this, our market remains as it has in recent months - stable and balanced. Inventory levels this past month held steady at over three thousand listings, which meant that there was a good amount of selection for buyers, while relatively flat pricing meant more predictability for sellers and buyers."

The number of active listings on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2025 stood at 3,023. This represents a substantial increase of 14.9% from the 2,631 listings in February and a 14.2 per cent rise from the 2,647 active listings available at the end of March 2024.

Chair VanderWal further noted, "As in past months, the balanced market in March softened the demand-side pressures of markets we've seen in recent years. There is more time for decision making, which is a positive aspect for both sellers and buyers. Thoughtfully priced and presented homes are selling well and we do see instances of multiple offers, which is often a hallmark of the spring market. For the best outcomes in your property search or sale, connect with your favourite local REALTOR® to navigate the current market."

Looking at benchmark pricing in the Victoria Core, the Multiple Listing Service® Home Price Index benchmark value for a single-family home in March 2025 reached $1,335,300, a 3.6% increase from the $1,288,400 recorded in March 2024 and up from February's $1,309,500. The benchmark value for a condominium in the Victoria Core area saw a more modest increase, reaching $560,400 in March 2025, a 0.4% rise from $558,200 in March 2024 and an increase from February's $551,900.

Local Market Activity
Across southern Vancouver Island, we've seen great turnouts at open houses for single-family detached and townhomes in the $900,000 to $1.3 million range. Many of these sales were competitive due to multiple bids on listings. The recent decrease in interest rates has made this segment of the market very attractive to buyers, especially for properties that could provide rental income.

Navigating the Victoria Real Estate Market
The current stability of the Victoria real estate market presents both opportunities and considerations for buyers and sellers. With a healthy inventory and more balanced conditions, now is an opportune time to make informed decisions. 

Whether you're looking to buy your dream home or sell your property for the best possible price, having expert guidance is crucial. Contact me today to discuss your real estate goals and navigate the Victoria market with confidence.

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

The Greater Victoria real estate market has shown remarkable stability in February, offering a balanced landscape for both buyers and sellers. According to the Victoria Real Estate Board, February saw a total of 528 properties sold, marking a 12.3% increase compared to February 2024 and a significant 25.1% jump from January 2025. This steady activity, coupled with a growing inventory, paints a promising picture for the local market.

Key Highlights from February 2025:

• Increased Sales: Overall property sales surged, with condominium sales experiencing a notable 26.3% rise from February 2024 (192 units sold) and single-family home sales increasing by 4.5% (234 units sold).

• Growing Inventory: Active listings reached 2,630 at the end of February, indicating a 9.8% increase from January and an 11.3% rise from February 2024.

• Balanced Market: The combination of increased sales and growing inventory has created a balanced market, fostering comfortable conditions for both buyers and sellers.

• Stable Price Appreciation: The benchmark value for a single-family home in the Victoria Core increased by 3.7% year-over-year, reaching $1,309,500. Condominium benchmark values experienced a slight decrease of 0.5% year over year, settling at $551,900.

What This Means for Buyers:

• More Options: The increase in active listings provides buyers with a wider selection of properties to choose from, increasing the chances of finding the perfect home.

• Stable Prices: Nearly two years of steady prices combined with recent favourable interest rates provide a degree of confidence for buyers.

• Balanced Market: A balanced market means less pressure and a more relaxed buying experience. Buyers have more time to make informed decisions.

• Favourable Interest Rates: Recent favourable interest rates help with affordability.

What This Means for Sellers:

• Increased Sales Activity: The surge in sales indicates strong buyer demand, increasing the likelihood of a successful sale.

• Growing Market: A healthy increase in sales from the previous year, and the previous month shows market momentum.

• Balanced Market: A balanced market allows sellers to achieve fair market value for their properties.

• Importance of Proper Pricing and Presentation: Well-presented and properly priced properties are crucial for success in the current market.

Looking Ahead:

The Greater Victoria real estate market appears to be following its typical early spring cycle, with expectations of peak activity in late spring. The hope is that increased inventory will continue to meet consumer demand. However, the market remains sensitive to global economic policy changes, underscoring the importance of staying informed.

Navigating the Market with a REALTOR®:

In today's dynamic market, having a knowledgeable and experienced REALTOR® is essential. I can provide invaluable guidance, help you understand market trends, and navigate the complexities of buying or selling a home.

Ready to discuss how these market trends impact your real estate goals? Contact me today for personalized advice and expert guidance.

Jacqueline Ross 
REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
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I know you are curious about what's been happening in Victoria's real estate market, so I'm here to give you a clear picture of the latest trends. This post dives into the December 2024 sales activity and shares some important insights from the Victoria Real Estate Board Chair, Laurie Lidstone, on what we can expect in 2025.

December 2024 Market Highlights:

Let's look at the numbers:

• We saw a total of 421 properties sold in the Victoria Real Estate Board region this December.

• That's a 28% jump from the 329 properties sold in December 2023! That's great news!

• However, it's a 23.6% decrease from November 2024, showing the market is always dynamic.

• Condominium sales were up 25% from December 2023, with 135 units sold.

• Sales of single-family homes also increased by 20.9% from December 2023, with 191 sold.

• Over the entire year of 2024, a grand total of 6,893 properties changed hands—an 11% increase from the 6,207 sold in 2023.

What This Means for You (Buyers & Sellers):

I want to break down what these numbers mean for you, whether you're looking to buy or sell:

For Buyers:

• The increased sales activity tells me the market is active. This is great for choice, but be prepared to act fast on properties you love.

• Inventory is still relatively low, which can mean more competition for desirable homes. Let's work together to make your offer stand out.

• Recent government changes, like extended amortization periods for first-time buyers and adjustments to property transfer tax thresholds, are aimed at making homes more attainable. Let's explore how these can benefit you.

For Sellers:

• The good news is that prices have been relatively stable for the past two years, providing a more predictable market for you.

• The low inventory could work in your favour if demand picks up, which could put upward pressure on prices.

My Take on 2025 (and What the VREB Says):

Laurie Lidstone, the 2024 Victoria Real Estate Board Chair, summed it up well: "2024 was a fairly calm year for local real estate...a year of stability and predictability." This is exactly what we want for a healthy market! The VREB also mentioned that consistent interest rates will help people make moves. I agree – stability is key.

The VREB is also advocating for gentle density development, which will help with our long-term inventory challenges.

My Advice:

The market is influenced by many factors, and predicting the future is impossible. But with consistent interest rates and the possibility of increased demand against limited inventory, it is key to be prepared.

Call to Action:

Whether you're thinking about buying or selling in 2025, I'm here to help you navigate this complex market. As your local expert, I can create a personalized strategy for you and your property.

Contact me today for a free consultation!

A Few More Numbers:

• At the end of December 2024, there were 2,290 active listings. This is down 19.3% from November but up 7.4% from December 2023.

• The benchmark price for a single-family home in the Victoria Core in December 2024 was $1,306,400, a 2.7% increase from December 2023 ($1,272,000) and a slight 0.3% increase from November.

• The benchmark price for a condo in the Victoria Core in December 2024 was $547,800, a 1.6% decrease from December 2023 ($556,500) but a slight 0.6% increase from November.

Stay in the loop! Subscribe to my newsletter for more market updates and local insights!

I'm here to help you achieve your real estate goals in Victoria!

– Jacqueline Ross

Jacqueline Ross
REALTOR®
Coldwell Banker Oceanside
250.415.5656
jac@yourvanislehome.com 
YourVanIsleHome.com
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The Victoria real estate market continues to evolve, and recent trends offer promising opportunities for both buyers and sellers. Here's what you need to know:

A Shift Towards Balance

The Victoria real estate market continues to evolve, and recent trends offer promising opportunities for both buyers and sellers. Here's what you need to know:

551 properties sold, 39.8% more than the 394 sold in November 2023 and down 15.7% from October 2024. Condos were up 55% from last month, with 186 units sold. Sales of single-family homes were up 36%, with 263 sold.

While the number of active listings has dipped slightly compared to October, providing some breathing room for buyers, the market still shows a 7.3% increase in listings compared to last year. This movement indicates a shift towards a more balanced market.

Benefits for Buyers & Sellers

This newfound stability creates a favourable environment for both buyers and sellers. Here's how you can capitalize on it:

For Buyers:

• Lower Interest Rates: Take advantage of recent interest rate decreases! Explore mortgage options and lock in a favourable rate. [Connect with me for a fantastic broker recommendation!] 

• Less Competition: A balanced market means fewer competing offers. Be prepared to act quickly on properties you love.

For Sellers:

• Competitive Pricing: Attract buyers with a realistic asking price that reflects the current market conditions.

• Strategic Presentation: Stage your home to showcase its best features and leave a lasting impression on potential buyers. Our proven marketing strategies can help you create that crucial first impression. [Ask me about our marketing expertise!] Sell the right way.

Navigating the Market with Confidence

Whether you're buying your dream home or selling your current property, navigating the real estate market can feel complex. I'm here to help you make informed decisions and achieve your goals.

Let's Connect!

Let's chat about your specific needs and discuss how I can guide you through the Victoria real estate market.

GET IN TOUCH

Jacqueline Ross, REALTOR® | 250.415.5656 | jac@yourvanislehome.com