Hey Friends,Welcome, and thanks for being here. I really appreciate you taking a few minutes to stay connected with what’s happening in our local real estate market.
The spring market is here, and it feels a little different this year. There are more listings coming online, buyers have more choice, and things aren’t moving at that frantic pace we’ve seen in the past. But here’s what’s interesting, the homes that are priced well and show well are still getting solid attention. For example, two of my recent listings sold in multiple offers!  So, there’s a clear pattern emerging, and if you’re thinking about making a move, it’s one worth understanding.  Let’s jump in and take a look together at what is happening.Your Real Estate Guide & Friend,
Rick

March Market Breakdown

1. More Listings, More Choice (Finally)

If the past few years felt like speed dating with houses, this spring is a bit more… thoughtful.Inventory is up to over 3,200 active listings, which is higher than both last month and last year.  That means buyers aren’t feeling the same pressure to rush into decisions, and they’re taking more time to compare options.For buyers, this is a welcome shift. You can breathe a little.
For sellers, it means you’re no longer just competing with “whatever else is available”… you’re competing with everything else that looks good too.
👉 Translation: choice is back, and it’s changing behaviour.

---

2. Sales Are Steady… But Not Surging

A total of 579 (condo’s, townhouses, single family) homes sold in March, which is down about 5.5% from last year, but up significantly from February.So what does that mean?
The market isn’t slow… it’s just not in a frenzy.We’re seeing a pretty typical spring build, where activity ramps up toward May and June, but without the chaos we saw in past years. Fewer bidding wars, fewer panic decisions, and more conditions coming back into play.
👉 Think: steady pace, not a sprint.

---

3. Prices Are Holding (With Some Soft Spots)

Benchmark prices are relatively stable:

• Single family homes: $1.33M (down about 1.1% year over year)
• Condos: $553K (down about 0.8% year over year)

So no, prices aren’t falling off a cliff. But they’re also not climbing aggressively either.  What we are seeing is price sensitivity. Buyers are paying attention.
Well-priced homes are getting activity. Overpriced ones… are sitting.
👉 It’s less about “the market price” and more about your price.

---

Rick’s Take 💬

“If you’ve made it this far, I appreciate you sticking with me.  As we move through the spring market, I’m going to keep sharing what I’m seeing from my perspective… what’s actually happening on the ground. And that part really matters.Take two of my recent listings, for example. Both sold quickly, in multiple offers, and over asking. One thing that stood out right away was the open house traffic. We had over 50 groups through each property, which is very busy by today’s standards.So why did that happen?It came down to pricing and presentation. Both homes were positioned right at market value, which attracted the largest pool of buyers. In today’s market, if a home is priced too high, buyers simply don’t engage. They won’t book showings, and they won’t come through open houses. They just wait. When a home is priced correctly, though, it creates momentum. More eyes, more interest, and in some cases, multiple offers.The big takeaway right now is this. Homes are still selling. They always will. People are upsizing, downsizing, relocating, and Victoria continues to be an incredible place to live.  If you’re thinking about buying, this market may actually work in your favour. Over the past few weeks, I’ve helped several buyers secure great properties at really great prices, simply because they had more time and more choice.”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