Market Insight Series - July 2025

sasha540
Jul 3
4 min read

Updated: Jul 6

What does the current Victoria real estate market look like?

As part of our ongoing Market Insight Series, I’m here once again to walk you through what’s happening in the Victoria and Vancouver Island real estate market. Whether you're thinking of buying, selling, or just staying informed, this breakdown is designed to help you make better decisions by diving into the latest numbers, trends, and industry commentary. We'll also include a glossary term to build your real estate vocabulary, and a few helpful resources to dig even deeper. Let’s get into it! If you want to see what the Market Insight for the previous month was, click here.

Ladies and gentlemen, let’s talk real estate—fresh off the press from the Victoria Real Estate Board’s June 2025 stats, and this time, we’ve got some momentum in the market!

In June 2025, a total of 761 properties were sold across the Victoria Real Estate Board region. That’s 15.1% more than the 661 sales in June 2024, and a modest 0.4% increase over May 2025. It may not sound like much month-to-month, but that year-over-year boost tells a strong story.

Let’s break it down by property type:

Condos saw a comeback, with 249 units sold—a 23.3% increase from June 2024.
Single-family homes weren’t far behind, notching up 402 sales, marking a 17.5% rise from last June.

So, What’s the Story Behind the Numbers?

Victoria Real Estate Board Chair Dirk VanderWal weighed in on what these numbers mean. According to him:

“We observed a fairly robust real estate market in the month of June. Recent market trends suggest that we have finally transitioned from a pandemic-driven market to more conventional patterns.”

That’s big news.

For months (and years), we've been dealing with unpredictable shifts—boom-and-bust cycles, interest rate shocks, and low inventory chaos. But the tides may finally be turning toward balance. Chair VanderWal also highlighted how we’re now seeing inventory levels we haven’t experienced in over a decade—and that, combined with steady sales, has brought us into a healthy, more balanced market.

Even with ongoing economic uncertainty, Victoria’s real estate market continues to show resilience, driven by strong demand and stable consumer interest.

What About Inventory?

As of June 30, 2025, there were 3,778 active listings on the Victoria Real Estate Board MLS® system.

That’s a 1.7% increase from May 2025
And a 9.2% jump from June 2024, when active listings sat at 3,460

This growing inventory is a good sign for buyers, as it means more options and less pressure in bidding situations. Still, supply isn’t keeping up with long-term demand trends just yet, so expect pockets of competition to remain—especially in popular neighbourhoods.

Condo Buyers Are Back

Another highlight from Chair VanderWal:

“Earlier in the spring, fewer condos were sold compared to the previous year. It seems that condo buyers were back in the market and very active in June.”

That’s an important trend to keep an eye on. Condo sales have rebounded, and if this continues through the summer, we could be looking at a renewed surge in demand for urban living, downsizing options, or investment properties. With affordability being a key issue, condos often serve as a stepping stone for first-time buyers and investors alike.

What’s Going On With Home Prices?

Let’s talk benchmark values.

In June 2024, the benchmark value for a single-family home in the Victoria Core was $1,295,500
By June 2025, that value had increased by 2.3% to $1,325,400
However, it slightly dipped from May’s benchmark of $1,326,600

As for condominiums:

The June 2024 benchmark was $567,900
By June 2025, it had decreased by 0.9% to $562,800, down a touch from May’s $564,100

So what does this mean? Single-family homes are still trending upward over the long run, but price growth has started to level off slightly month to month. Condos, on the other hand, remain more affordable, and even with a slight price dip, the uptick in buyer activity could lead to price firming if demand stays strong through the summer.

Key Takeaways for Buyers and Sellers

Buyers: With rising inventory and softer price growth, this summer offers a solid window to explore the market, especially if you're eyeing a condo.
Sellers: The market is stable, and homes are still selling—especially well-priced and well-marketed ones. Make sure your listing stands out.
Investors: Keep a close eye on multi-family and condo markets. The demand seems to be bouncing back, and the entry prices are appealing.

As always, whether you're considering a move or just want a pulse check on the market, this is a great time to chat with a trusted local REALTOR® who knows how to guide you in a balanced, dynamic environment like this one.

Get in Touch

So there you have it—the June 2025 real estate market in Victoria is showing signs of strength, stability, and seasonal normalcy. Whether you're a buyer, seller, or investor, now is the time to pay attention, explore your options, and take advantage of a market that’s no longer running red-hot, but still packed with opportunity.

Have questions? Curious how this applies to your specific situation? Reach out—I’d love to help you build a strategy. Let’s make your next move a smart one.

Talk To Me Now

Glossary Term

Capital Improvement

A capital improvement is adding a permanent structural change or restoring some aspect of a property that will either enhance the property's overall value, prolong its useful life, or adapt it to new uses.

https://www.investopedia.com/terms/c/capitalimprovement.asp