May in Victoria felt like the moment people stopped holding their breath. I noticed it when a client mentioned she had spent a whole afternoon visiting three different properties and never once felt rushed. That kind of ease has not been part of the story here for a while. It tells me something real about where we are right now.

Here is what the data is showing, and more importantly, what I think it means for people who are thinking about their next move.

What the Numbers Say

A total of 713 properties sold across the Victoria Real Estate Board region in May 2026. That is 5.9% fewer than May 2025, but 11% more than April 2026, which means momentum is building even if the year-over-year comparison looks soft. Single family home sales came in at 385, down 4 per cent from last May. Condo sales were 188, down 15% from the same time last year. Townhomes were a quieter story, with 98 sales and an 9% increase over last year.

The number that matters most right now is active listings. There were 4,029 properties for sale at the end of May, up 8.6% from April and 8.4% higher than May 2025. That is the most inventory this market has seen in eleven years. If you have been waiting for more options, this is the environment you were waiting for.

What Prices Are Doing

The MLS Home Price Index benchmark for a single family home in the Victoria Core sits at $1,339,000, essentially flat compared to last May and barely changed from April. Condo benchmarks in the Core are at $551,400, down 1.9 per cent from last year. On the Saanich Peninsula, single family benchmarks are up 4% year over year at $1,292,000, which tells a different story than the rest of the region. The Westshore single family benchmark sits at $1,028,100, down almost 3% from last May.

The sales to active listings ratio for the region is sitting at roughly 17%, which puts us right at the edge of balanced market territory. Prices are not under dramatic pressure in either direction, but sellers cannot assume the market will do their pricing work for them anymore.

What This Means If You Are Buying

This is one of the better environments for buyers that we have seen in several years. More inventory means more time to think, more properties to compare, and more room to negotiate. The days of writing offers the same afternoon you viewed a home are largely behind us for now. If you have been sitting on the sidelines waiting for conditions to shift in your favour, this is worth paying attention to. The Peninsula in particular is worth a look if single family homes are your target, since values there have held and even grown modestly while other areas have softened.

What This Means If You Are Selling

Realistic pricing is the whole conversation right now. With more competition on the market and buyers taking their time, homes that are priced thoughtfully for their neighbourhood and condition are still selling. Homes that are not are sitting. The average days on market across the region varies significantly by area, and understanding where your property fits within its specific submarket matters more than broad regional trends. If you are thinking about listing this summer, the window before the seasonal slowdown is still open, but it will not be open indefinitely.

A Note for Anyone Thinking About Downsizing

May's numbers are quietly encouraging for people in the middle of this decision. More inventory means more choices at the other end of the move, whether that is a strata townhome, a ground floor condo, or a smaller detached home in a neighbourhood you have always liked but never quite lived in. If you have been wondering whether now is the right time to find out what your current home is worth and what your next chapter might look like, I am genuinely happy to have that conversation with you. No pressure, no agenda. Just two people thinking it through together.

If you are wondering what May's numbers mean for your specific situation, whether you are thinking about selling, buying, or just starting to explore your options, I am happy to talk it through. Reply to this email, or book a call here. No agenda, just a conversation.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
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Helping you find home, and community, here in Victoria, BC.

The Greater Victoria real estate market is moving through spring with steady momentum—but what’s shaping today’s market isn’t just housing activity. It’s also the broader economic environment.

In April 2026, a total of 643 properties sold, up 11.1% from March and essentially flat year-over-year. At the same time, inventory climbed to 3,710 active listings, giving buyers more choice and helping create more balanced conditions overall.

The Bigger Picture: Interest Rates and the Economy

A key driver right now is the decision by the Bank of Canada to hold its overnight rate at 2.25%. Ok, but what does this mean to me… a buyer or seller?

When rates are rising quickly, buyers often pull back due to uncertainty and affordability concerns. When rates are falling, activity tends to surge. But when rates hold steady—as they are now—it creates something different: confidence and predictability.

For buyers, this means you can make decisions without worrying about sudden changes to your borrowing power. For sellers, it means the pool of active buyers becomes more stable and consistent. At the same time, the economy is still adjusting.

Unemployment has edged slightly higher in parts of Canada, and while this varies regionally, it contributes to a more cautious mindset among buyers. Household expenses—from groceries to insurance to utilities—remain elevated compared to previous years, which also impacts how buyers approach affordability.

The result isn’t a slowdown—it’s a shift in behaviour.

If you’d like to understand this further, I’m happy to connect you to my trusted mortgage partners. They can review your whole financial picture and help you understand what rates you would qualify for. Just let me know.

A Balanced Market Is Taking Shape

Right now, Greater Victoria is in what many are calling a “Goldilocks” market.

Prices have remained relatively stable:
Single-family homes benchmark around $1,339,100
Condominiums around $558,300

These small year-over-year adjustments, combined with recent monthly increases, reflect a market that is stabilizing rather than correcting sharply.

Inventory is up, buyer interest is steady, and conditions are landing in that middle ground where neither side has a strong advantage.

What This Means If You’re Buying in Victoria

If you’re buying right now, this is one of the more strategic windows we’ve seen in recent years. Seriously.

You have more choice across property types and price points
You’re less likely to face intense bidding competition
You can plan more confidently with stable interest rates

However, affordability still matters. With higher day-to-day expenses and borrowing costs compared to past years, buyers are being more selective—and that’s actually creating better long-term decisions.

What This Means If You’re Selling in Victoria

For sellers, the opportunity is still strong—but execution matters.

Homes that are priced appropriately and presented well are attracting attention
Buyers are taking their time, but they are still active and ready when the right property comes up
Overpricing or under-preparing a home can lead to extended time on market

This is no longer a market where everything sells quickly regardless of strategy. It’s a market where thoughtful positioning wins.

Why Local Expertise Matters More Right Now

Victoria is not one single market—it’s a collection of micro-markets. Real estate here is like the weather!

Sidney, Langford, Saanich, and Victoria proper are all behaving differently
Condos, townhomes, and single-family homes are each responding differently to current conditions
Even within neighbourhoods, pricing and demand can vary significantly

This is why understanding your specific segment of the market is key to making the right move.

The Bottom Line

We’re in a rare moment where housing and the economy are aligning in a way that supports balanced, informed decision-making.

Stable interest rates
Increasing inventory
Measured buyer confidence

Whether you’re buying or selling, success right now comes down to strategy—not timing the market perfectly.

If you’re curious what’s happening in your neighbourhood—or how to position yourself in this market—I’m always happy to talk it through.

👉 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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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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