A total of 554 properties sold in the Victoria Real Estate Board region this September, 3 per cent fewer than the 571 properties sold in September 2024 and 5.5 per cent more than in August 2025. Sales of condominiums decreased by 18.5 per cent from September 2024 with 154 units sold. Sales of single family homes increased by 6.3 per cent from September 2024 with 289 sold.
A total of 525 properties sold in the Victoria Real Estate Board region this August, 3.7 per cent fewer than the 545 properties sold in August 2024 and 22.8 per cent fewer than in July 2025. Sales of condominiums decreased by 16 per cent from August 2024 with 152 units sold. Sales of single family homes increased by 6.3 per cent from August 2024 with 268 sold.
The Victoria Real Estate Board has released their statistics for the month of July. The following is an excerpt from their press release.
A total of 680 properties sold in the Victoria Real Estate Board region this July, 4.6 per cent more than the 650 properties sold in July 2024 and 10.6 per cent fewer than in June 2025. Sales of condominiums increased by 5.6 per cent from July 2024 with 225 units sold.
Sales of single family homes decreased by 0.3 per cent from July 2024 with 318 sold. “Typically, as the school year wraps up and summer holidays begin, our housing market relaxes somewhat,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “However, we did see a good pace of sales in July, and listing inventory remained at a stable level. This means that those shopping over the summer will have a good selection of homes to consider but it also means there is enough market activity that we could see some properties go into multiple offers.”
There were 3,703 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2025, a decrease of 2 per cent compared to the previous month of June and a 10.6 per cent increase from the 3,348 active listings for sale at the end of July 2024.
“The conclusion of July also signals the traditionally busy spring market is officially over,” adds Chair VanderWal. “Overall, I think the level of activity over the course of the spring surprised many, who were unsure how the real estate market would be impacted by economic and trade uncertainties. But throughout 2025, we have seen positive indicators of a healthy and stable market, with consistent levels of listing inventory higher than we’ve seen in recent years along with reasonably flat and predictable pricing. Moving into the late summer and then into fall when sales often increase, consumers should enjoy a good selection of properties and the time to make decisions. It’s a great time to connect with your favourite local REALTOR® for expert assistance and up-to-the-minute insights on the market if you are considering a sale or purchase.”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2024 was $1,296,100. The benchmark value for the same home in July 2025 increased by 3.3 per cent to $1,338,800, up from June’s value of $1,325,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in July 2024 was $567,800 while the benchmark value for the same condominium in July 2025 decreased by 0.8 per cent to $563,300, up from the June value of $562,800.
This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months:
Based on a regression analysis performed by the Economics Department of the BC Real Estate Association in each market area of the province, the Sales to Active Listings Ratio for Victoria can be interpreted as follows:-
below 14%, there is downward pressure on prices (buyers' market)
above 20%, there is upward pressure on prices (sellers' market)
in the 14-20% range, there is little pressure on prices either way (balanced market)
"We observed a fairly robust real estate market in the month of June," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "Recent market trends suggest that we have finally transitioned from a pandemic-driven market to more conventional patterns. We have experienced consecutive months of a healthy and balanced market that includes listing inventory levels we have not seen in a decade paired with steady sales. Despite economic uncertainties weighing on consumer confidence, Victoria continues to demonstrate resilient market conditions."
Yesterday, the Bank of Canada chose to maintain its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. In the accompanying statement, the BOC said, “With uncertainty about US tariffs still high, the Canadian economy softer but not sharply weaker, and some unexpected firmness in recent inflation data, Governing Council decided to hold the policy rate as we gain more information on US trade policy and its impacts.
"Victoria's real estate market in the month of May was positive for consumers on both sides of the transaction," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "Ample inventory coming to market outpaced brisk sales, which provided a consistent amount of choice and eased competition on high-demand properties. More balanced market conditions were supported by stability both in prices and in interest rates. The May market was resilient, and that steady pace is a little boring to report on but has been much more comfortable for buyers and sellers to navigate than markets we've seen in past years."
A total of 642 properties sold in the Victoria Real Estate Board region this April, 5.3 per cent fewer than the 678 properties sold in April 2024 but 4.7 per cent more than in March 2025. Sales of condominiums decreased by 10.1 per cent from April 2024 with 187 units sold. Sales of single family homes decreased by 0.6 per cent from April 2024 with 335 sold.
While sales were down slightly this April compared to April 2024 (-5.3%), we are seeing the impact of some pent-up demand with multiple offers occurring as our spring market progresses. The condo market in Greater Victoria has experienced pressures due to the B.C. government implementing regulations on short-term rentals (“STR”). Sales of condos declined 10.1% in April 2025 compared to April 2024. Many owners of STR condos have tried to sell rather than take on long-term tenants, and the core area of Victoria has experienced social challenges, which have also slowed this market down.
"February was another stable month for local real estate," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "The combination of slowly growing inventory and slightly increased sales means that our market remains in balance from the start of the year, which creates comfortable conditions for both buyers and sellers. Nearly two years of steady prices combined with recent favourable interest rates are positive factors for our market. Thus far, 2025 has been a good year to buy and sell."
"We've seen a strong hand off from the December market to January with a good sense of momentum building," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "Over the course of the month, we saw an uptick in new listings, and it is the first time in ten years that over one thousand new listings were added to our inventory in a January. This is a positive sign for our market as we head into 2025."
A total of 421 properties sold in the Victoria Real Estate Board region this December, 28 per cent more than the 329 properties sold in December 2023 and a 23.6 per cent decrease from November 2024. Sales of condominiums were up 25 per cent from December 2023 with 135 units sold. Sales of single family homes increased 20.9 per cent from December 2023 with 191 sold.
“I’ve found that buyers and sellers are feeling optimistic right now,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “With the steady decrease we’ve seen in interest rates and the continued balance in the market, consumers are feeling more comfortable and empowered to make the big decisions around home ownership knowing that they have a fairly stable real estate environment to navigate.”
"Sales did increase notably over last year, but it's important to include some context," said 2024 Victoria Real Estate Board Chair-Elect Dirk VanderWal. "October 2023 saw the fewest sales in that month since 2008, which distorts a year-over-year comparison; in fact, last month's sales count was almost exactly on the ten-year average for the month.”
"The real estate market in Victoria right now is much more stable and more predictable than it has been in recent years," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "We have seen a few solid months of near-balance in the market, which means it's neither a seller's nor a buyer's market and positives exist for both sides of a transaction."
A total of 545 properties sold in the Victoria Real Estate Board region this August, 0.2 per cent more than the 544 properties sold in August 2023 and a 16.5 per cent decrease from July 2024. Sales of condominiums were up 10.4 per cent from August 2023 with 181 units sold. Sales of single family homes decreased by 7.7 per cent from August 2023 with 252 sold.
A total of 650 properties sold in the Victoria Real Estate Board region this July, 9.2 per cent more than the 595 properties sold in July 2023 and a 1.7 per cent decrease from June 2024. Sales of condominiums were up 6.5 per cent from July 2023 with 213 units sold. Sales of single family homes increased by 8.9 percent from July 2023 with 319 sold.
A total of 661 properties sold in the Victoria Real Estate Board region this June, 6.2 per cent fewer than the 705 properties sold in June 2023 and a 13.4 per cent decrease from May 2024. Sales of condominiums were down 16.5 per cent from June 2023 with 202 units sold. Sales of single family homes increased by 6.2 percent from June 2023 with 342 sold.
total of 763 properties sold in the Victoria Real Estate Board region this May, 1.5 per cent fewer than the 775 properties sold in May 2023 and a 12.5 per cent increase from April 2024. Sales of condominiums were down 5.2 per cent from May 2023 with 235 units sold. Sales of single family homes exactly matched the number from May 2023 with 399 sold.
