February a steady month for Greater Victoria Buyers & Sellers

March 3, 2025  A total of 528 properties sold in the Victoria Real Estate Board region this February, 12.3 per cent more than the 470 properties sold in February 2024 and 25.1 per cent more than in January 2025. Sales of condominiums were up 26.3 per cent from February 2024 with 192 units sold. Sales of single family homes increased by 4.5 per cent from February 2024 with 234 sold.

"February was another stable month for local real estate," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "The combination of slowly growing inventory and slightly increased sales means that our market remains in balance from the start of the year, which creates comfortable conditions for both…

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2025 housing market kicks off with good balance of inventory and stable pricing

February 3, 2025  A total of 422 properties sold in the Victoria Real Estate Board region this January, 23.8 per cent more than the 341 properties sold in January 2024 and 0.2 per cent more than in December 2024. Sales of condominiums were up 30.4 per cent from January 2024 with 146 units sold. Sales of single family homes increased by 19.8 per cent from January 2024 with 194 sold.

"We've seen a strong hand off from the December market to January with a good sense of momentum building," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "Over the course of the month, we saw an uptick in new listings, and it is the first time in ten years that over one thousand…

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2024 Victoria real estate market year in review

January 2, 2025  A total of 421 properties sold in the Victoria Real Estate Board region this December, 28 per cent more than the 329 properties sold in December 2023 and a 23.6 per cent decrease from November 2024. Sales of condominiums were up 25 per cent from December 2023 with 135 units sold. Sales of single family homes increased 20.9 per cent from December 2023 with 191 sold.

A grand total of 6,893 properties sold over the course of 2024, an 11 per cent increase from the 6,207 sold in 2023.

"2024 was a fairly calm year for local real estate," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "And this is what we like to see for consumers! It has been a year of stability and…

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A warm start to winter sales in the Victoria real estate market


December 2, 2024 - A total of 551 properties sold in the Victoria Real Estate Board region this November, 39.8 per cent more than the 394 properties sold in November 2023 and a 15.7 per cent decrease from October 2024. Sales of condominiums were up 55 per cent from November 2023 with 186 units sold. Sales of single family homes increased by 36.3 per cent from November 2023 with 263 sold.

“I’ve found that buyers and sellers are feeling optimistic right now,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “With the steady decrease we’ve seen in interest rates and the continued balance in the market, consumers are feeling more comfortable and empowered to make the big…

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Victoria market exceeds expectations but remains balanced

November 1, 2024  A total of 654 properties sold in the Victoria Real Estate Board region this October, 60.7 per cent more than the 407 properties sold in October 2023 and a 14.5 per cent increase from September 2024. Sales of condominiums were up 32.6 per cent from October 2023 with 187 units sold. Sales of single family homes increased by 76.2 per cent from October 2023 with 340 sold.

'Sales did increase notably over last year, but it's important to include some context,' said 2024 Victoria Real Estate Board Chair-Elect Dirk VanderWal. 'October 2023 saw the fewest sales in that month since 2008, which distorts a year-over-year comparison; in fact, last month's sales count was almost…

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Understanding the New Mortgage Rates in Canada: What You Need to Know for Your Home Purchase in BC

BREAKING NEWS:

The Bank of Canada lowered its key interest rate to 3.75% with a significant 50 basis-point cut, responding to subsiding inflation concerns and aiming to stimulate economic growth. This marks the fourth consecutive cut since June and reflects the Bank's strategy to manage borrowing costs as the economy faces challenges under high rates. With inflation back to the 2% target, the Bank is focused on maintaining stable rates to support consumers and businesses. These lower interest rates can lead to more favourable mortgage options for homeowners and potential buyers, making it an ideal time to explore refinancing or new financing…

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Victoria real estate market current conditions benefit buyers and sellers

October 1, 2024  A total of 571 properties sold in the Victoria Real Estate Board region this September, 15.8 per cent more than the 493 properties sold in September 2023 and a 4.8 per cent increase from August 2024. Sales of condominiums were up 21.9 per cent from September 2023 with 189 units sold. Sales of single family homes increased by 19.3 per cent from September 2023 with 272 sold.

"The real estate market in Victoria right now is much more stable and more predictable than it has been in recent years," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "We have seen a few solid months of near-balance in the market, which means it's neither a seller's nor a…

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Victoria’s summer real estate market meets seasonal expectations

September 3, 2024  A total of 545 properties sold in the Victoria Real Estate Board region this August, 0.2 per cent more than the 544 properties sold in August 2023 and a 16.5 per cent decrease from July 2024. Sales of condominiums were up 10.4 per cent from August 2023 with 181 units sold. Sales of single family homes decreased by 7.7 per cent from August 2023 with 252 sold.

"The final month of the summer is generally a rather relaxed one in terms of real estate sales and listings," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "Many folks pause their home shopping activities or pause their sales listing to make the most of other summer activities and vacations. It's no…

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Victoria housing market remains steady for buyers & sellers over summer

August 1, 2024  A total of 650 properties sold in the Victoria Real Estate Board region this July, 9.2 per cent more than the 595 properties sold in July 2023 and a 1.7 per cent decrease from June 2024. Sales of condominiums were up 6.5 per cent from July 2023 with 213 units sold. Sales of single family homes increased by 8.9 percent from July 2023 with 319 sold. 

“The month of July delivered another steady month of sales and listings, as we’d expect for an average summer season in our market,” said 2024 Victoria Real Estate Board Chair Laurie Lidstone. “The sales in July tracked very closely to June numbers, which may have surprised some who expected that summer vacations…

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Victoria real estate market slow and steady for buyers and sellers

July 2, 2024  A total of 661 properties sold in the Victoria Real Estate Board region this June, 6.2 per cent fewer than the 705 properties sold in June 2023 and a 13.4 per cent decrease from May 2024. Sales of condominiums were down 16.5 per cent from June 2023 with 202 units sold. Sales of single family homes increased by 6.2 percent from June 2023 with 342 sold.
"June followed our normal seasonal trends," said 2024 Victoria Real Estate Board Chair Laurie Lidstone. "With more inventory and slightly fewer sales when compared to May, most buyers last month would have experienced a market with more choice and more time to make decisions, and some sellers may have experienced…

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