A Calmer Market, Smarter Moves: January in Review

📊 January Market Snapshot

January followed a familiar seasonal pattern, with fewer sales and a slower overall pace, which is typical for this time of year.Across Greater Victoria, 339 properties sold, down about 20% from January last year, while active listings rose to 2,624 homes, giving buyers more choice than we’ve seen in recent winters.In terms of pricing, benchmark values in the Victoria Core remained relatively stable:

Single-Family Homes: $1,265,500
Condos: $537,800
Townhomes: $833,100

While prices have softened slightly compared to last year, they’ve also held steady from month to month, which is a sign of a market that is adjusting thoughtfully rather than swinging dramatically.

⚖️ What These Numbers Mean for Buyers & Sellers

With more listings on the market and fewer sales than this time last year, January landed right on the edge of a balanced market.For buyers, this means more choice, more breathing room, and less pressure to make rushed decisions. It’s a time to be thoughtful, ask good questions, and focus on finding the right fit rather than just “winning” a property.For sellers, it means strategy matters more than ever. Homes that are priced realistically and presented well are still selling, but buyers are taking their time and comparing options. Preparation and positioning continue to make a real difference.Overall, this kind of market encourages better outcomes on both sides. Buyers can move forward with confidence, and sellers who approach the process with clarity and care are being rewarded.

📈 Looking Back: What 2025 Got Right
One of the more interesting market reads I came across recently was a local review that looked back at how well 2025 real estate forecasts matched what actually happened.The encouraging takeaway was that many of the predictions around pricing, sales activity, and interest rates turned out to be surprisingly accurate. In other words, the market largely behaved the way thoughtful observers expected it would.The biggest area where forecasts missed the mark was inventory. Listings ended up being higher than many people predicted, which helps explain why we’re seeing more balanced conditions today.This reinforces something I often share with clients: while no one can predict the future perfectly, markets tend to respond to fundamentals over time. Supply, demand, affordability, and confidence still matter most, and those forces continue to shape our local market.

🔍 Looking Ahead to Spring 2026

As we move closer to spring, activity typically begins to pick up across the market, and early signs suggest this year is no different.With inventory levels remaining healthy and interest rates continuing to be a key factor, we’re likely to see a market that rewards preparation and patience. Buyers who stay informed and organized will be well positioned, and sellers who take the time to price and present thoughtfully will continue to see strong results.Rather than sharp swings in either direction, the outlook points toward steady, sustainable movement. That kind of environment tends to benefit everyone involved and creates space for good decision-making.As always, every neighbourhood and property type has its own story, so understanding the local context will be especially important in the months ahead.

Rick’s Take 💬
“One of the things I’m noticing most right now is how intentional people are being with their decisions.Buyers aren’t rushing the way they did a few years ago. They’re taking time to understand neighbourhoods, compare options, and think long-term. Sellers, meanwhile, are asking better questions and thinking more carefully about timing, preparation, and pricing. To me, that’s a really healthy sign.It tells me our market is being driven less by emotion and more by clarity and confidence. When people make decisions this way, they tend to feel better about them years down the road.Early signs of what’s to come is that this could be a busier year, with more transactions, but not necessarily seeing any seismic shifts in pricing.”
If you’re curious about what this all means for your home’s value or your next move, I’d be happy to chat. Whether it’s a quick check-in or a full strategy session or complimentary home evaluation, I’m here to help.
Let’s stay connected,
Rick