Victoria Real Estate Market Update-August 2025

August 2025

Victoria real estate market offers good options for Buyers over the summer months as inventory is up while sales and prices remain stable. The Bank of Canada left interest rates unchanged again, so not much should change in the market over the next few months.

Below are some of the statistics for July 2025

Listing Inventory:

There were 3,703 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2025, a decrease of 2 % compared to the previous month of June and a 10.6 % increase from the 3,348 active listings for sale at the end of July 2024. Inventory is at a great level for Buyers, as there is a lot of choice on the market.

Sales:

A total of 680 properties sold in the Victoria Real Estate Board region this July, 4.6 % more than the 650 properties sold in July 2024 and 10.6 % fewer than in June 2025. Sales of condominiums increased by 5.6% from July 2024 with 225 units sold. Sales of single family homes decreased by 0.3 % from July 2024 with 318 sold. Sales were up from 2024, but down slightly from last month, which is typical for the summer months.

Average Victoria Real Estate Prices:

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2024 was $1,296,100. The benchmark value for the same home in July 2025 increased by 3.3% to $1,338,800, up from June’s value of $1,325,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in July 2024 was $567,800 while the benchmark value for the same condominium in July 2025 decreased by 0.8 % to $563,300, up from the June value of $562,800. Overall prices are very stable, with a slight increase in prices in July for single family homes and condos. The next Bank of Canada meeting is September 17th, so we will see what happens at that time. If rates drop, then the market may pick up for the fall months. A very interesting market to say the least.

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

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