January 2026

Victoria Real Estate Board Market Report – December 2025
The Greater Victoria and Westshore markets were quite resilient in 2025. While the news headlines were geared towards the distractions from South of the border, our region registered a slight increase in overall sales for the year compared to 2024, and prices in most areas remained stable. Listing inventory was up, so Buyers had a lot of choice, and the market remained balanced with slight favour to Buyers. 2026 will most likely remain the same, unless there are large global interruptions affecting our market.

Below are some statistics for December 2025 and Year end throughout the Greater Victoria region

Listing Inventory:

There were 2,544 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2025, a decrease of 19.3 % compared to the previous month of November but an 11.1 % increase from the 2,290 active listings for sale at the end of December 2024. Overall inventory is up from a year ago, but marginally. Buyers will continue to have good options as the year progresses.

Sales:

A total of 367 properties sold in the Victoria Real Estate Board region this December, 12.8 % fewer than the 421 properties sold in December 2024 and 18.6 % fewer than in November 2025. Sales of condominiums were down 21.5 % from December 2024 with 106 units sold. Sales of single family homes decreased by 2.6 % from December 2024 with 186 sold. There were 6,918 sales over the course of 2025, a 0.36 % increase from the 6,893 sales in 2024. While the overall sales numbers have remained consistent over the last 2 years, the last few months have shown lower sales numbers, so 2026 could have fewer sales than 2025 if this trend continues. The Bank of Canada’s pause on interest rate changes is predicted to remain for the next 6 months, so not much should change in the market between now and then.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2024 was $1,316,700. The benchmark value for the same home in December 2025 decreased by 4.7 % to $1,255,000, down 1.7 per cent from November’s value of $1,276,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2024 was $546,100 while the benchmark value for the same condominium in December 2025 increased by 0.7 % to $549,900, a decrease of 0.6 % from the November value of $533,100. Prices have softened over the last few months for single family homes, and condos are remaining about same. However, with the recent lower monthly sales numbers and rising inventory levels that occur in the first half of the year, the stable prices might soften somewhat. This will depend on the Bank of Canada’s interest rate policy and the long term economic effects from the policies South of the border. All in all it should be a decent year for the Greater Victoria markets.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values for 2026.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighborhoods values.

https://www.bcassessment.ca/

Featured Listings:

113 1201 Nova Crt $699,800

 Step into contemporary elegance with this beautifully appointed 3-bedroom, 2-bath modern townhome — a perfect blend of design, comfort, and functionality. The open-concept layout is filled with natural light, featuring a sleek fireplace as the centerpiece of the living area. 14′ vaulted ceilings, quartz counters in kitchen, wide plank ,aminate flooring, natural gas stove and tankless hot water heater. Primary bedroom has ensuite and large walk-in closet. Enjoy seamless indoor-outdoor living with a private balcony and a spacious 267 sq/ft roof top deck with electrical, water and gas hookup, perfect for morning coffee or evening entertaining with sweeping forest and mountain views. The large carport offers convenient covered parking for 2 vehicles, and additional storage. Bonus 4’10” full crawlspace for storage. Thoughtfully designed with quality finishes throughout, this home delivers effortless modern living in a desirable location close to shopping, parks, and vibrant local amenities.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1018597-113-1201-nova-crt-langford-v9b-0t7.107266465

216-1375 Bear Mountain PKWY  $529,800

 Located on Bear Mountain in the popular St. Andrew’s Walk. Quietly tucked away overlooking the 9th fairway, this beautifully updated 2 bed condo offers a rare blend of privacy and effortless living. Covered south-facing deck invites you to unwind as the afternoon sun shines bright into the suite, and enjoy the tranquil golf course views & the gentle flutter of hummingbirds. The gourmet kitchen, featuring granite counters & a comfortable eating island, flows effortlessly into the Living and Dining areas, creating a bright, open-concept space with a cozy electric fireplace. Updates includes quality wood floors, newer appliances, built-in cupboard organizers that maximize function and style, Murphy bed in 2nd bedroom. Lots of storage, bike area, and secure underground parking. A truly inviting home in a peaceful natural setting. Just Steps away from the Village, Westin Hotel & Spa, Athletic Club, & restaurants. Secure parking, Pets allowed

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020510-216-1375-bear-mountain-pkwy-langford-v9b-0c9.107348919

1954 Polo Park Crt  $849,800

 Impeccably presented and thoughtfully designed, this three-bedroom residence offers over 1,600 sq ft of refined living in one of Saanichton’s most convenient & desirable settings. Soaring ceilings & abundant natural light create an airy sense of space throughout. The gourmet kitchen features a corner island & breakfast area, perfect for casual mornings, while the spacious living and dining areas open seamlessly and lead to a private garden patio. The main-floor primary bedroom offers a spa-inspired ensuite with a soaker tub and separate shower and walk-in closet. Upstairs has two more spacious bedrooms and a main bathroom. A double garage and private driveway for 2 more cars complete the package. Lots of storage. Located just steps from shopping, cafés, and local amenities, and centrally located for easy commute to both Sidney and Victoria, this exceptional home blends comfort, lifestyle, and location in perfect harmony.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020418-1954-polo-park-crt-central-saanich-v8m-2k1.107348968

 Lot A 265 Trans Canada Hwy  $3,999,800

Moon Water Lodge is a beautiful west coast designed boutique Hotel situated on a special 9.58acre parcel with spectacular panoramic ocean and mountain views of Finlayson Arm and Mt. Finlayson. The business is running very well and is quite self sufficient. 8400 sq/ft on 4 levels with 14 rooms with potential to expand as lowest level is unfinished. Sale includes the business, building and land. The large acreage has great potential as well. Hotel was built in 2002. The rooms are all positioned to take advantage of the views, with kitchenettes, propane fireplaces, soaker tubs. Real Estate and Business are included in sale. All Business equipment, supplies and web site are included. Serviced by septic treatment plant and drilled well. Located next door to the Malahat Chalet restaurant. Call for appointment.

View Listing here  https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

933 Turnstone Ridge  $619,800

Popular Turnstone Ridge Development in the Happy Valley area of South Langford. 3 Story Modern Townhouse offering 2 spacious Bedrooms & 2 Bathrooms. You will Love the Open Living Concept main floor with Designer Kitchen & Quartz Counters, Stainless Appliances, Gas Fireplace, Gas On Demand Hot Water, Gas Cooktop on Oven, Gas Line to Patio for BBQ. Updated Ductless Heat Pump for Cool Summers and Warm Winters. This unit will impress with its Quality Finishes, includes Laminate Flooring, Ceramic Tiles, Luxury Carpets, Closet Organizers, some updated hardware and fixtures. Large Tandem Double Car Garage with roughed in EV Charger, and extra storage! This unit has a Private Rear Patio off the Kitchen. Located a short walking distance to Happy Valley Elementary and the Galloping Goose Trail. 10 minutes to Belmont Market and Royal Bay. 2-5-10 New Home Warranty.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1022997-933-turnstone-ridge-langford-v9c-0j4.107640114

109 797 Tyee Rd  $698,800

The Gateyard is a quality-built Vic West complex in the Railyards community fronting the Selkirk Waterway and close to the Galloping Goose Trail. Spacious 2 bedroom, 2 bath condo with 2 parking spots, separate storage and 2 pets allowed! 973 sq/ft plus a 309 sq.ft private and part covered garden patio. Cozy electric fireplace in the spacious livingroom, large kitchen with stainless appliances and wood floors. Nice open layout to the spacious livingroom and dining area with a cozy electric fireplace and leading to the entertaining sized patio. Primary bedroom has 4 piece ensuite and large closet space, in-suite laundry, 2 in ground secure parking spots. Short walk to amenities, and minutes to downtown Victoria. Pet friendly.

View Listing here  https://dalesheppard.com/search-listings/featured-listings/#!listing.1022397-109-797-tyee-rd-victoria-v9a-7r4.107575446

We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-January 2026 appeared first on Dale Sheppard.

December 2025

December is here, and the holiday season is rapidly approaching. I wish you and your family all the best over the holidays, and a prosperous New Year!
The Victoria Real Estate market has remained stable over the last few months. Sales numbers dropped in November but that is typical as we near the end of the year. While interest rates are poised to remain unchanged in the coming months, and listing inventory on the higher side, prices continue to remain stable, which shows the resilience of the Victoria market. Not much is expected to change in the Greater Victoria market for the remainder of the year, and into 2026.

Below are some statistics for November 2025 throughout the Greater Victoria region

Listing Inventory:

There were 3,152 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2025, a decrease of 7.9 % compared to the previous month of October and an 11.1 % increase from the 2,836 active listings for sale at the end of November 2024. Today’s elevated inventory is giving buyers exceptional selection, but it also puts pressure on sellers to price sharply to stand out. With roughly one in seven properties selling each month, proper pricing is essential for Sellers to attract viewings and offers.

Sales:

A total of 451 properties sold in the Victoria Real Estate Board region this November, 18.1 % fewer than the 551 properties sold in November 2024 and 26.9 % fewer than in October 2025. Sales of condominiums decreased by 36 % from November 2024 with 119 units sold. Sales of single-family homes decreased by 8.4 % from November 2024 with 241 sold. The sales numbers decreased considerable in November. Declining numbers towards the end of a year are not unusual, but with interest rates lower today than in 2024, this is unusual. The effects of the global and Canadian economic picture might be catching up with our local markets. The coming months should remain relatively unchanged, but it is hard to predict outcomes in these uncertain times.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index* benchmark value for a single family home in the Victoria Core in November 2024 was $1,313,900. The benchmark value for the same home in November 2025 decreased by 2.8 % to $1,276,700, down from October’s value of $1,280,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in November 2024 was $542,100, while the benchmark value for the same condominium in November 2025 increased by 2 % to $553,100, up from the October value of $549,000. Single-family home prices are not only lower than in 2024, but they also dipped slightly compared to October of this year. With inventory remaining high, sellers need to price accurately to capture buyer interest. Condo prices saw a small month-over-month increase, but condos continue to be more challenging to sell due to oversupply. Overall, prices across Greater Victoria have been relatively stable and are expected to remain this way for the foreseeable future.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values are now out for 2025.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighborhoods values.

https://www.bcassessment.ca/

Featured Listings:

113 1201 Nova Crt $749,800

 Step into contemporary elegance with this beautifully appointed 3-bedroom, 2-bath modern townhome — a perfect blend of design, comfort, and functionality. The open-concept layout is filled with natural light, featuring a sleek fireplace as the centerpiece of the living area. 14′ vaulted ceilings, quartz counters in kitchen, wide plank ,aminate flooring, natural gas stove and tankless hot water heater. Primary bedroom has ensuite and large walk-in closet. Enjoy seamless indoor-outdoor living with a private balcony and a spacious 267 sq/ft roof top deck with electrical, water and gas hookup, perfect for morning coffee or evening entertaining with sweeping forest and mountain views. The large carport offers convenient covered parking for 2 vehicles, and additional storage. Bonus 4’10” full crawlspace for storage. Thoughtfully designed with quality finishes throughout, this home delivers effortless modern living in a desirable location close to shopping, parks, and vibrant local amenities.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1018597-113-1201-nova-crt-langford-v9b-0t7.107266465

216-1375 Bear Mountain PKWY  $529,800

OPEN HOUSE SAT, DEC 13TH, 10:00AM-11:30AM. Located on Bear Mountain in the popular St. Andrew’s Walk. Quietly tucked away overlooking the 9th fairway, this beautifully updated 2 bed condo offers a rare blend of privacy and effortless living. Covered south-facing deck invites you to unwind as the afternoon sun shines bright into the suite, and enjoy the tranquil golf course views & the gentle flutter of hummingbirds. The gourmet kitchen, featuring granite counters & a comfortable eating island, flows effortlessly into the Living and Dining areas, creating a bright, open-concept space with a cozy electric fireplace. Updates includes quality wood floors, newer appliances, built-in cupboard organizers that maximize function and style, Murphy bed in 2nd bedroom. Lots of storage, bike area, and secure underground parking. A truly inviting home in a peaceful natural setting. Just Steps away from the Village, Westin Hotel & Spa, Athletic Club, & restaurants. Secure parking, Pets allowed

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020510-216-1375-bear-mountain-pkwy-langford-v9b-0c9.107348919

1954 Polo Park Crt  $849,800

OPEN HOUSE SUNDAY, DECEMBER 14TH, 1-3PM. Impeccably presented and thoughtfully designed, this three-bedroom residence offers over 1,600 sq ft of refined living in one of Saanichton’s most convenient & desirable settings. Soaring ceilings & abundant natural light create an airy sense of space throughout. The gourmet kitchen features a corner island & breakfast area, perfect for casual mornings, while the spacious living and dining areas open seamlessly and lead to a private garden patio. The main-floor primary bedroom offers a spa-inspired ensuite with a soaker tub and separate shower and walk-in closet. Upstairs has two more spacious bedrooms and a main bathroom. A double garage and private driveway for 2 more cars complete the package. Lots of storage. Located just steps from shopping, cafés, and local amenities, and centrally located for easy commute to both Sidney and Victoria, this exceptional home blends comfort, lifestyle, and location in perfect harmony.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1020418-1954-polo-park-crt-central-saanich-v8m-2k1.107348968

 Lot A 265 Trans Canada Hwy  $3,999,800

Moon Water Lodge is a beautiful west coast designed boutique Hotel situated on a special 9.58acre parcel with spectacular panoramic ocean and mountain views of Finlayson Arm and Mt. Finlayson. The business is running very well and is quite self sufficient. 8400 sq/ft on 4 levels with 14 rooms with potential to expand as lowest level is unfinished. Sale includes the business, building and land. The large acreage has great potential as well. Hotel was built in 2002. The rooms are all positioned to take advantage of the views, with kitchenettes, propane fireplaces, soaker tubs. Real Estate and Business are included in sale. All Business equipment, supplies and web site are included. Serviced by septic treatment plant and drilled well. Located next door to the Malahat Chalet restaurant. Call for appointment.

View Listing here  https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-December 2025 appeared first on Dale Sheppard.

November 2025

The Victoria Real Estate market continues to remain in a balanced state with great options for Buyers in most sectors of the market. The small interest rate drop by the Bank of Canada was welcomed by the industry and should allow a few more first time Buyers to enter the market.

Below are some statistics for October 2025 throughout the Greater Victoria region

Listing Inventory:

There were 3,423 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2025, a decrease of 7.3 % compared to the previous month of September and an 8.3 % increase from the 3,161 active listings for sale at the end of October 2024. Inventory usually starts to drop as we near the end of the year, but there is still a healthy supply of homes and condos on the market

Sales:

A total of 617 properties sold in the Victoria Real Estate Board region this October, 5.7 % fewer than the 654 properties sold in October 2024 and 11.4 % more than in September 2025. Sales of condominiums decreased by 15 % from October 2024 with 159 units sold. Sales of single family homes increased by 2.9% from October 2024 with 350 sold. The October sales numbers were down from 2024, but up from last month, which shows there is still strength in the market.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2024 was $1,300,200. The benchmark value for the same home in October 2025 decreased by 1.8 % to $1,276,500, down from September’s value of $1,294,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2024 was $547,800, while the benchmark value for the same condominium in October 2025 increased by 0.6 % to $551,000, up from the September value of $547,500. Prices in all sectors of the market in Victoria have remained stable over the last few months, with small fluctuations up and down, leaving a strong balanced market for the coming months.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values are now out for 2025.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighborhoods values.

https://www.bcassessment.ca/

Featured Listing:

627 Rason Rd  $1,149,800

Great Thetis Heights family area in Langford. Spacious 5 Bedroom, 4 Bathroom family home with 2 bedroom legal suite. Featuring hardwood floors, stainless steel appliances, and a stunning double-sided fireplace, this home blends comfort and style. Both living areas are bright and welcoming, with plenty of room for family gatherings. Upstairs offers generous bedrooms, walk in closet and ensuite with jetted tub, Ample cabinet space and lots of natural light, while the lower-level suite—with its own private entrance—provides excellent flexibility for extended family or rental income. Enjoy outdoor living with a sunny deck, shaded sitting areas, and a fully fenced yard. Heat pumps for air conditioning in the summer. The crawl space is full height with room for more development and great storage, an office area is set up in this space. A double garage plus ample parking make this property ideal for families on the go. Conveniently located near schools, parks, and amenities.

View Listing here: https://dalesheppard.com/search-listings/featured-listings/#!listing.1014390-627-rason-rd-langford-v9b-6c3.106983061

113 1201 Nova Crt $784,800

 Step into contemporary elegance with this beautifully appointed 3-bedroom, 2-bath modern townhome — a perfect blend of design, comfort, and functionality. The open-concept layout is filled with natural light, featuring a sleek fireplace as the centerpiece of the living area. 14′ vaulted ceilings, quartz counters in kitchen, wide plank ,aminate flooring, natural gas stove and tankless hot water heater. Primary bedroom has ensuite and large walk-in closet. Enjoy seamless indoor-outdoor living with a private balcony and a spacious 267 sq/ft roof top deck with electrical, water and gas hookup, perfect for morning coffee or evening entertaining with sweeping forest and mountain views. The large carport offers convenient covered parking for 2 vehicles, and additional storage. Bonus 4’10” full crawlspace for storage. Thoughtfully designed with quality finishes throughout, this home delivers effortless modern living in a desirable location close to shopping, parks, and vibrant local amenities.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1018597-113-1201-nova-crt-langford-v9b-0t7.107266465

3638 Ridge View Terr  $1,399,800

Elevation Pointe is a quality luxurious subdivision in Colwood with nice Mountain & Ocean views, located close to Royal Bay, Olympic View Golf & Colwood Lagoon. This modern contemporary open-concept executive home features expansive floor-to-ceiling windows, white oak engineered wood floors, chef’s kitchen, granite surfaces, Bespoke cabinetry, large island, premium appliances, dual ovens, a warming drawer & gas cooktop. Open dining and living areas anchored by a striking stone-clad gas fireplace, automated blinds, large office with built-ins. Upstairs has 3 bdrms, main bath & laundry, primary bedroom has it’s own terrace, a spa-inspired ensuite & large walk-in closet. The lower level hosts a legal self-contained one-bedroom suite with own hydro meter, laundry & private patio, great rental income or extended family. Constructed with silent floors & rebar-reinforced. Double garage, heat pump, backs onto a private green space. Well Priced for this Market!

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015709-3638-ridge-view-terr-colwood-v9c-0m3.107125141

1124 Colville Rd  $849,800

 Great Esquimalt location, backing onto the Gorge Vale Golf Course. Zoning is RS-6, but Esquimalt indicated Small Scale Multi Family (RSM-2) Medium Density is permitted in this area. Charming 3 Bedroom rancher with loads of potential! This cozy home offers comfortable one-level living with a bright, functional layout. The inviting living room features a woodstove for warmth and character, while the kitchen with pantry provides plenty of space for your ideas. 3 bedrooms plus a potential 4th bedroom make this a great fit for families, downsizers, or investors. Step outside to enjoy the private, part fenced yard – perfect for kids, pets, or gardening with a huge entertaining deck with hot tub. Single garage plus parking in driveway for 2 cars. Conveniently located close to schools, parks, shopping, and transit. Only 10 minutes to downtown Victoria.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1014997-1124-colville-rd-esquimalt-v9a-4p7.106959610

 Lot A 265 Trans Canada Hwy  $3,999,800

Moon Water Lodge is a beautiful west coast designed boutique Hotel situated on a special 9.58acre parcel with spectacular panoramic ocean and mountain views of Finlayson Arm and Mt. Finlayson. The business is running very well and is quite self sufficient. 8400 sq/ft on 4 levels with 14 rooms with potential to expand as lowest level is unfinished. Sale includes the business, building and land. The large acreage has great potential as well. Hotel was built in 2002. The rooms are all positioned to take advantage of the views, with kitchenettes, propane fireplaces, soaker tubs. Real Estate and Business are included in sale. All Business equipment, supplies and web site are included. Serviced by septic treatment plant and drilled well. Located next door to the Malahat Chalet restaurant. Call for appointment.

View Listing here  https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-November 2025 appeared first on Dale Sheppard.

September 2025

As we enter the fall season, the Victoria real estate market continues to remain in balance. September’s numbers reveal a steady flow of activity, with both sales and inventory adjusting to seasonal and economic trends. Prices must be sharp to attract Buyers, as there are more homes currently for sale than in previous fall markets.

Below are some of the statistics for September 2025

Listing Inventory:

There were 3,694 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2025, an increase of 2.6 % compared to the previous month of August and a 9% increase from the 3,361 active listings for sale at the end of September 2024. The increase in listings is making it harder to sell homes, so Sellers must price their homes well to attract Buyers.

Sales:

A total of 554 properties sold in the Victoria Real Estate Board region this September, 3 % fewer than the 571 properties sold in September 2024 and 5.5 % more than in August 2025. Sales of condominiums decreased by 18.5 % from September 2024 with 154 units sold. Sales of single family homes increased by 6.3 % from September 2024 with 289 sold. Condo sales numbers continue to trail single family sales.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2024 was $1,279,700. The benchmark value for the same home in September 2025 increased by 1.2 % to $1,294,800, down from August’s value of $1,308,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2024 was $553,400, while the benchmark value for the same condominium in September 2025 decreased by 1.1 % to $547,500, down from the August value of $551,300. Prices softened slightly in September, and mostly as a result of the increased listing inventory at this time.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values are now out for 2025.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighbourhood values.

https://www.bcassessment.ca/

Featured Listing:

1375 Neild Rd  $499,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1011124-1375-neild-rd-metchosin-v9c-4h4.106643248

627 Rason Rd  $1,229,800

View Listing here: https://dalesheppard.com/search-listings/featured-listings/#!listing.1014390-627-rason-rd-langford-v9b-6c3.106983061

106 2049 Country Club Way $624,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1003729-106-2049-country-club-way-langford-v9b-0h8.106165778

 6885 Laura’s Lane  $749,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1011348-6885-laura-s-lane-sooke-v9z-0p8.106706462

1124 Colville Rd  $899,800

 Great Esquimalt location, backing onto the Gorge Vale Golf Course. Zoning is RS-6, but Esquimalt indicated Small Scale Multi Family (RSM-2) Medium Density is permitted in this area. Charming 3 Bedroom rancher with loads of potential! This cozy home offers comfortable one-level living with a bright, functional layout. The inviting living room features a woodstove for warmth and character, while the kitchen with pantry provides plenty of space for your ideas. 3 bedrooms plus a potential 4th bedroom make this a great fit for families, downsizers, or investors. Step outside to enjoy the private, part fenced yard – perfect for kids, pets, or gardening with a huge entertaining deck with hot tub. Single garage plus parking in driveway for 2 cars. Conveniently located close to schools, parks, shopping, and transit. Only 10 minutes to downtown Victoria.

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1014997-1124-colville-rd-esquimalt-v9a-4p7.106959610

2744 Forbes Rd $949,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015742-2744-forbes-st-victoria-v8r-4c3.107100194

 Lot A 265 Trans Canada Hwy  $3,999,800

View Listing here  https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197

We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-October 2025 appeared first on Dale Sheppard.

September 2025

Victoria real estate market has slowed slightly over the course of the summer, while listing inventory has increased over the last year, leaving more choice for Buyers while Sellers must price their properties correctly to attract interest.

Below are some of the statistics for August 2025

Listing Inventory:

There were 3,600 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2025, a decrease of 2.8 % compared to the previous month of July and a 12.8 % increase from the 3,191 active listings for sale at the end of August 2024. This increased inventory is putting some downward pressure on prices.

Sales:

A total of 525 properties sold in the Victoria Real Estate Board region this August, 3.7 % fewer than the 545 properties sold in August 2024 and 22.8 % fewer than in July 2025. Sales of condominiums decreased by 16 % from August 2024 with 152 units sold. Sales of single family homes increased by 6.3% from August 2024 with 268 sold. Condos are struggling the most in this market. Single family sales numbers have actually increased from a year ago.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2024 was $1,287,400. The benchmark value for the same home in August 2025 increased by 1.6 % to $1,308,100, down from July’s value of $1,338,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in August 2024 was $559,200 while the benchmark value for the same condominium in August 2025 decreased by 1.4 % to $551,300, down from the July value of $563,300. Overall prices are now only up 1.6% from one year ago and seem to have topped out in July as we are now seeing slight monthly drops in all sectors over the last month. The Bank of Canada is leaning towards dropping the overnight interest rate at the next meeting next week, so let’s hope this helps to prop up the market in the coming fall months.

For the full Victoria Real Estate Boards Statistical Package for 2025 click on the following link below

https://www.vreb.org/current-statistics#gsc.tab=0

The BC Tax Assessment Values are now out for 2025.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighbourhood values.

https://www.bcassessment.ca/

Featured Listing:

1375 Neild Rd  $699,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1011124-1375-neild-rd-metchosin-v9c-4h4.106643248

96 2500 Florence Lake Rd  $207,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.995065-96-2500-florence-lake-rd-langford-v9b-4h2.105265380

106 2049 Country Club Way $624,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1003729-106-2049-country-club-way-langford-v9b-0h8.106165778

 6885 Laura’s Lane  $769,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1011348-6885-laura-s-lane-sooke-v9z-0p8.106706462

704 373 Tyee Rd  $529,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1008873-704-373-tyee-rd-victoria-v9a-0b3.106537624

3956 Long Gun Pl $949,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1012126-3956-long-gun-pl-saanich-v8n-3a9.106735137

 Lot A 265 Trans Canada Hwy  $4,499,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1008298-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.106458645

301 2706 Peatt Rd  $449,800

View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1008272-301-2706-peatt-rd-langford-v9b-3v3.106484929

We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com

The information contained in this blog is for general information purposes only. The information is provided by Dale Sheppard and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this blog.

The post Victoria Real Estate Market Update-September 2025 appeared first on Dale Sheppard.

The post Special Assessment appeared first on Dale Sheppard.

This fall has been full of surprises. The Blue Jays are in the playoffs, the Canucks started out with a bang, The Seahawks are losing, and oh yeah, Canada has a new Prime Minister – Justin Trudeau of the Liberals. I watched CNN for a while after our election results were finished, and low and behold, there was no mention of our election, or that Canada had a new Prime Minister. I guess we are not that newsworthy across the border.

In Victoria, the real estate market has surprised some, as we have experienced a complete turnaround from the 5 year slowdown of 2010 through 2014. However, if you look at my previous blogs, I did see this coming last year, as the listing inventory continued to drop year after year beginning in the summer of 2012, and the number of sales began to increase late last year, and this combined with the record low interest rates, has led to exactly what we are experiencing this year – high sales, higher prices and less homes for sale – resulting in an increase in average prices throughout the region by about 8.6% this year to date.

However, not all regions are up in price, and some are experiencing a slower recovery. Most areas outside of Victoria, like the Westshore, Saanich Peninsula and other outer regions, are not seeing prices increase as much as Saanich East and Oak Bay, which have been leading the way with sales and increased prices this year. So much so that the BC Assessment authority recently stated that most property assessments in Greater Victoria are going to go up by 5-10% in 2016, and possibly above 10% in areas like Oak Bay. The overall trend should see all markets continue to improve in the fall and winter and into 2016. Especially with the announcement this week that the Bank of Canada is not making any changes to its overnight rate. This should result in continued low mortgage interest rates well into 2016.

In the meantime, if you were putting off selling while the market values dropped over the last 5 years, now might be a great time to explore your options again. I have been asked to do a number of evaluations for a lot of my clients this year, and most are surprised to find out that they can get more for their home than they thought. This, coupled with the fact that they have paid down a portion of their mortgage over the last 5 years, puts them in a good position to be able to make that move that they had been putting off over the last few years.

I am always available to provide updated price evaluations, either through email, or a site visit, so please don’t be afraid to ask. This is part of my job, and until you know where you stand price wise, the decision to sell can be very overwhelming. I am always available to answer all of your questions with respect to making a move, whether it is about staging your home for a sale, or suggestions on whether to update or not, or any other changes to improve saleability of your home, to help you maximize your selling price.

Here are a few links to various real estate sources that may be of interest to you:

1. Click on this link and hit “Like” to obtain current postings from my real estate Facebook page: VictoriaBCProperties

2. Click this link for my latest Website Newsletter: Newsletter

3. For the latest historical statistics from the Victoria Real Estate Board, click here: VREBStatistics

4. Search for listing at my Victoria BC Properties website: DaleSheppard.com

All the best to you and your family.

Sincerely, Dale.

The post Victoria Real Estate Market Update – Fall 2015 appeared first on Dale Sheppard.

I am constantly asked by friends, family and clients – why did my assessment go up when prices have come down? Why did my assessment go down, but my neighbours went way up? How will this change affect my property taxes? Historically, assessments have been used not as a gauge for actual value, but for an average price to set your municipal or city property taxes to. Therefore, the assessed number should not be compared to actual real estate sale prices.  Nor should any percentage of average assessments be used to try and guess true market value. Every city will have a street or a block that is much higher in value to the one right beside it. Similarly, a neighbours house may be valued significantly different if the neighbourhood has a lot of homes that were built in different eras. Victoria, for instance, has a wide range of homes and styles dating back to the late 1800’s and early 1900’s, with a high number built around 1912, 1920-1930, 1945-65, and modern booms from the 1970’s until today. All of these house styles reflect slightly different assessed values, which can be quite frustrating for the home owner to analyze. On top of all of this, if a neighbour has completed a basement without a permit, then this space may not be calculated by the assessor, so the assessed value for a home like this may be significantly lower than it should be. 

The main area of concern for the home owner is the effect of assessments in the pocket book at the end of the day. Of course, higher assessments mean higher annual property taxes. This is a catch 22. If you are planning on selling your home, then a higher assessment will help you justify your list price, and may discourage buyers from trying to low ball your house, especially in a slow market like we are experiencing at this particular time. However, if you are not planning on moving, then the higher assessment can mean significantly higher taxes.

One thing to note, if the overall assessment averages increase, but the municipality or city is determined to keep taxes from increasing, then the municipality or city will adjust their mill rate, which is the number that is multiplied by your assessment to determine your annual property tax amount. This means that property taxes will not change much if your annual assessment change is within the regional average increase or decrease. Therefore, the only way that your taxes will be significantly altered is if your percentage change in your assessment is significantly out of the range of the average. For instance, if the average increase is 5%, and yours goes up 10%, you may have grounds to appeal your assessment.

The government does allow a home owner to appeal their assessments, if they feel that the assessed amount is significantly out of line with the average assessment percentage change. Therefore, at this time of the year, when all of the new assessments are arriving in the mail, before you decide whether to dispute your assessment, it might be worth looking at the pros and cons of a high assessment verse a low assessment if you are planning on moving during the current tax year.  Depending on your situation, making an appeal might be something worth considering. The initial appeal must be made to the property assessment review panel by January 31, 2012, and the final appeal deadline is April 30, 2012. Details can be found here: http://www.assessmentappeal.bc.ca/SubmitAnAppeal/. If you have any comments, questions or concerns about your property assessment, feel free to contact me anytime.

The post Tax Assessments and Rapid Fluctuations appeared first on Dale Sheppard.