Victoria Real Estate Market Shifts: Buyers Gain Time to Decide

Published

17 hours ago

3 September, 2025

Editorial

UPDATE: The Victoria real estate market shifts as buyers and sellers gain valuable time for decision-making, according to new insights from the Victoria Real Estate Board. With 525 properties sold in August 2025, this marks a 3.7% decrease compared to last year and a staggering 22.8% drop from July.

August is traditionally a slower month for real estate, as chair Dirk VanderWal explains, “Home buying, selling, and moving projects are often put on hold until fall.” Sellers are using this time to prepare their homes for a busier market ahead. The number of active listings in the Victoria Real Estate Board region has surged to 3,600, reflecting a 12.8% increase from August 2024.

The market dynamics are shifting. While condominium sales have dropped 16% from last year, single-family homes have shown resilience, increasing by 6.3%. This evolving landscape allows buyers and sellers to take their time, evaluate options, and make informed decisions without the pressure seen in previous years.

Currently, the Multiple Listing Service Home Price Index benchmark value for a single-family home in the Victoria Core stands at $1,308,100, a 1.6% increase from last year, although it has decreased from July’s value of $1,338,800. In contrast, the benchmark price for a condominium has dipped 1.4% to $551,300, down from $563,300 in July.

VanderWal emphasizes the stability buyers are experiencing, noting, “We’ve seen fairly stable prices and interest rates for over a year now.” The enhanced availability of inventory is creating a more supportive environment for planning and decision-making, which is crucial when navigating one of life’s largest financial commitments.

As we move into the fall market, attention will be on how these trends develop. Will the increase in listings continue? How will buyers respond to shifting prices? The Victoria real estate market is evolving, and stakeholders are keenly observing the changing tides.

Stay tuned for more updates as the situation unfolds.