Victoria Real Estate Market Update
May 2025
Calm, Steady, and Full of Opportunity
As we head into summer, Victoria’s real estate market continues to show signs of strength, balance, and opportunity—for buyers and sellers alike.May brought a healthy uptick in activity without the frenzy we’ve seen in past years. The result? A calm, steady market that rewards smart strategy over rushed decisions.
📊 Sales & Inventory: A Balanced Market
Sales activity in May increased at a steady pace, which tells us buyers are still engaged—and sellers are getting traction when homes are well-positioned.Here’s what the numbers look like:- 528 properties sold in May, up 6.7% from April and 12.3% compared to May 2024.
- 2,630 active listings at month-end, a 10% year-over-year increase.
💰 Prices: Solid, Not Spiking
The market remains stable, with slight increases in home values—just enough to show confidence without pricing people out.- Single-family homes in Victoria’s core are averaging $1.31M, up 3.7% year-over-year.
- Condo prices saw a small 0.5% dip, giving first-time buyers or investors a bit more room to breathe.
🔎 The Bigger Picture
Looking at the broader economic and market context:- More listings = more opportunity. We’ve consistently seen high listing volume this year, starting with 1,000+ new listings in January—a first in over a decade.
- Interest rates are softening. The Bank of Canada has begun to ease its monetary policy, which could lead to more affordable borrowing as we move through summer.
- Construction costs and economic headwinds are still factors, but they haven’t slowed Victoria’s market in any meaningful way—yet.
🤝 What This Means for You
If you’re buying:You’ve got options. With more listings and slightly better affordability on the horizon, it’s a great time to explore, compare, and purchase with confidence—without pressure.If you’re selling:
Homes that are well-presented and priced strategically are still moving quickly. Buyers are informed and selective, so your home needs to stand out—but you’re not competing in a market that’s overloaded with inventory either.