Victoria Real Estate Market Update
As we’ve settled into January, it’s becoming clear that 2026 is shaping up as a continuation of real estate trends that quietly took hold last year: more balance, more choice, and growing confidence tied to stable interest-rate expectations.
Across British Columbia, home sales activity finished 2025 modestly lower than the year before, and average prices also edged down. That may sound negative at first glance, but in practice it has translated into a healthier real estate market—one that allows home buyers to move forward more thoughtfully and with greater confidence. In Victoria, for much of 2025, single-family prices held steady or even increased modestly compared with the same months in 2024, even though the December year-over-year comparison showed some softening. To us, that points to relative price stability rather than any kind of meaningful downturn. Overall activity in Greater Victoria has remained resilient, with 6,918 residential sales recorded in 2025—a slight increase over 2024.
What has changed meaningfully in Victoria is inventory. Throughout 2025, active listings of condos, townhomes and single family homes were consistently higher than in 2024, finishing the year at approximately 2,544 properties—about an 11% increase year over year. This reflects a continued trend of the build-up of inventory over several consecutive years. Single-family homes continued to sell relatively steadily and benefit from sustained demand, while the condominium market experienced a softer sales pace and higher relative inventory, creating more choice and less competitive pressure than we’ve seen in several years.
Inflation nationally ticked up slightly late in the year, but underlying “core” inflation measures have continued to cool. In British Columbia specifically, inflation remains lower than the national average. This matters because it reinforces what most major banks and economists are now saying: interest rates are widely expected to remain stable in the near term. For real estate, that sense of stability is important. When buyers feel they can plan around financing without worrying about sudden increases, confidence improves. We’re interested to see how this plays out in the condo market, which tends to be the most price- and payment-sensitive segment and was impacted last year by buyer hesitation.
Professionalism matters—and higher standards are welcome
Real estate transactions are complex, high-stakes, and deeply personal for most people. Better training benefits everyone.
A seasonal note for homeowners: winter garden prep pays off
With foliage back and growth slowed, it’s easier to see the “bones” of the garden and spot issues that tend to get hidden later in the year. Clearing debris now, addressing moss, and preparing lawns for spring reseeding all set you up for better results once temperatures warm. It’s also an ideal window to identify exterior repairs—fences, paths, drainage, or trim—before spring growth masks problem areas.
A little attention now can make a big difference by April.
A few timely reminders for the months ahead
- BC Assessments have been released. If assessed values raise questions, there is a short window to review and, if appropriate, appeal.
- Speculation & Vacancy Tax declarations will be coming out soon.
- For anyone buying or selling with shorter timelines in mind, it’s important to be aware of BC’s home flipping tax rules and how they may apply.
If any of these raise questions, we’re always happy to talk them through.
Looking ahead to the spring 2026 Real Estate Market
- Whether interest-rate stability brings more condo buyers back into the market, especially at lower price points.
- Whether the increase in returning Canadians continues and expands in 2026, which will inevitably create more demand in the Victoria market particularly for houses.
- How inventory levels evolve as we move into the spring selling season.
If you’re thinking about buying, selling, or simply want a clearer picture of how your specific neighbourhood is performing, we’re happy to put together a tailored, no-pressure comparative market analysis.
Warm regards,
Audra & Robert
The Victoria Pros Real Estate Team
For more statistics on the Victoria real estate market – click on the links to the right for the latest reports and data from the Victoria Real Estate Board, the British Columbia Real Estate Association, the Canadian Mortgage and Housing Corporation and the Canadian Real Estate Association.