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.
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
