July 2025
The Victoria real estate market remains stable as we enter the summer months. Sales were up slightly from the previous month and have remained stable so far in July. Listing inventory has increased over the last few months, but prices remain relatively unchanged, with some slight drops in certain sectors of the market. Not much should change over the next few months.
Below are some of the statistics for June 2025
Listing Inventory:
There were 3,778 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2025, an increase of 1.7 % compared to the previous month of May and an 9.2 % increase from the 3,460 active listings for sale at the end of June 2024. Increased choice for buyers is good for the market, but sellers need to list at a competitive price to attract offers.
Sales:
A total of 761 properties sold in the Victoria Real Estate Board region this June, 15.1 % more than the 661 properties sold in June 2024 and 0.4 % more than in May 2025. Sales of condominiums increased by 23.3 % from June 2024 with 249 units sold. Sales of Single-Family homes increased by 17.5 % from June 2024 with 402 sold. While sales were up in June, single family homes lead the way, while condo sales have remained sluggish with all of the increased inventory on 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 June 2024 was $1,295,500. The benchmark value for the same home in June 2025 increased by 2.3 % to $1,325,400, down from May’s value of $1,326,600. The MLS® HPI benchmark value for a condominium in the Victoria Core area in June 2024 was $567,900 while the benchmark value for the same condominium in June 2025 decreased by 0.9 % to $562,800, down from the May value of $564,100. While overall prices of Single-Family homes are up slightly from 1 year ago, the trend over the last few months has seen a stable pricing environment, which is mostly due to the higher listing inventory, and the lack of drops in interest rates from the Bank of Canada. Condo prices are down from a year ago and have continued to drop slightly over the last few months. These trends should continue until the interest rates drop, and political climates stabilize.
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
