Market Insight Series - August 2025

sasha540
Aug 1
4 min read

Updated: Aug 2

What does the current Victoria real estate market look like?

As part of our monthly Market Insight Series, I am excited to continue to bring you regular insights into the Victoria and Vancouver Island market trends, so you can make better buying and selling decisions. Below I will jump into the most important market numbers to look into, I will provide glossary term definitions, and will conclude with resources if you want to further research current trends and stats. If you want to see what the Market Insight for the previous month was, click here.

Ladies and gentlemen, let’s break down some real estate facts and figures coming at you from the Victoria Real Estate Board as of August 2025. And this month’s update is filled with meaningful signs of stability—and even opportunity. I know you love your numbers, so let’s dive right into it.

In July 2025, a total of 680 properties changed hands in the Victoria Real Estate Board region. That’s a 4.6 percent increase compared to the 650 properties sold in July 2024, though it does mark a 10.6 percent decline from June 2025. Now, if we’re talking property types: condo sales were up by 5.6 percent year-over-year with 225 units sold, while single-family homes dipped slightly by 0.3 percent to 318 sales.

But let’s not forget the bigger picture, folks.

Inventory continues to paint a picture of opportunity and balance. As of the end of July 2025, there were 3,703 active listings on the Victoria Real Estate Board Multiple Listing Service®. That’s a 2 percent dip compared to June 2025, but still a significant 10.6 percent jump from July 2024’s inventory total of 3,348.

Board Chair Dirk VanderWal gave us his take:“Typically, as the school year wraps up and summer holidays begin, our housing market relaxes somewhat. However, we did see a good pace of sales in July, and listing inventory remained at a stable level. This means that those shopping over the summer will have a good selection of homes to consider—but it also means there is enough market activity that we could see some properties go into multiple offers.”

Now, what about the cold, hard numbers on home prices?

In July 2024, the Multiple Listing Service® Home Price Index benchmark value for a single-family home in the Victoria Core was $1,296,100. One year later, in July 2025, that value increased by 3.3 percent to $1,338,800, also up from June’s $1,325,400.

For condo buyers, it’s a slightly different story. The benchmark value for a condo in the Victoria Core was $567,800 in July 2024, and that number dipped 0.8 percent to $563,300 in July 2025, although it did increase modestly from June’s value of $562,800.

Chair VanderWal summed it up nicely:“Throughout 2025, we’ve seen positive indicators of a healthy and stable market, with consistent levels of listing inventory higher than we’ve seen in recent years along with reasonably flat and predictable pricing.”

The Spring Rush is Over… But Don’t Sleep on Summer and Fall

With July wrapping up, the traditionally busy spring market is now officially in the rearview mirror. But don’t confuse “summer slowdown” with inactivity. There is still a strong selection of properties, and with buyer competition lower than spring, this season can be an ideal time to make a thoughtful move.

Heading into late summer and early fall—when sales often tick up again—it’s a smart time to have a trusted REALTOR® in your corner. With more breathing room in the market, the second half of the year offers a unique chance to buy without the frenzy that defined earlier cycles.

A Massive Buying Opportunity Still Exists

Now here’s the part savvy buyers and investors really need to hear.

While much of the focus is on what’s active, few people are talking about off-market opportunities—we’re talking canceled, expired, and withdrawn listings. These are homes where the seller may still be open to a deal, but they’ve stepped back from public listing. And that’s where your opportunity lies.

If you’re ready to be bold and make offers, this is your window. I’m still seeing deals where buyers are scoring $50,000 to $100,000 off asking—but only because they’re looking in places others aren’t. While the rest of the market waits, you could be locking in equity.

But hey, the real estate market is a complex beast, and it's influenced by many factors—local, national, and even international. So if you’re thinking about buying or selling in the back half of 2025, you know the drill: get in touch with me for a strategy that fits your exact situation, timing, and goals.

Get in Touch

So there you have it, folks.

The real estate landscape in Victoria is evolving—with rising inventory, stabilized prices, and balanced seasonal rhythms. For those of you navigating this changing terrain, I’m here to help you make smart, strategic moves. Stay informed. Stay ready. And when you’re ready to act, let’s talk.

Opportunities for ordinary people looking to get into their first home—or move up into something more comfortable—are still out there. You just need a bit of diligence and the right partner to help you find them.

Conclusion

The goal of this series is to give you clear insight into what’s really happening in the Victoria and Vancouver Island housing markets. I’ve included resources below so you can dig deeper into the stats, and each month I’ll continue to highlight a glossary term to grow your knowledge of how this market really works.

Feel free to contact me if you want to learn more or if you have any questions about the broader market trends.

Talk To Me Now

Glossary Term

Active Contingent

When a home is listed as "Active Contingent" or "Active with Contingencies," it means the seller has accepted an offer from a buyer and a Purchase and Sale Agreement exists, but that certain conditions (or contingencies) must be satisfied before the sale can be finalized. These conditions may include a home inspection or getting approved for a mortgage loan. Once these conditions are met, the home is no longer listed as Active Contingent. In certain areas, Active Contingent is also known as Active CAPA (can accept purchase agreement).

https://www.redfin.com/definition/active-contingent