Market Insight Series - October 2025

sasha540
Oct 4
4 min read

What does the current Victoria real estate market look like?

As part of our ongoing Market Insight Series, I’m excited to continue bringing you the latest updates on Victoria and Vancouver Island’s real estate market. My goal is to help you make informed buying and selling decisions based on real, current data. Below, we’ll break down the most important market numbers, define a few key terms, and share helpful resources for further research. If you missed last month’s update, click here.

Ladies and gentlemen, let’s take a closer look at what’s been happening in Victoria’s real estate market as we move into the fall season of 2025!

Victoria Market Overview – September 2025

In September 2025, a total of 554 properties changed hands across the Victoria Real Estate Board region. That’s 3% fewer than the 571 properties sold in September 2024, but 5.5% more than the sales recorded in August 2025 — a modest but healthy month-over-month increase as we head into autumn.

Breaking it down by property type:

Condo sales dropped 18.5% year-over-year, with 154 units sold.
Single-family homes, on the other hand, saw a 6.3% increase compared to September 2024, with 289 homes finding new owners.

A Balanced and Stable Market

“September was another stable month for local real estate,” said 2025 Victoria Real Estate Board Chair, Dirk VanderWal.

He emphasized that stability is exactly what the market needs right now — fewer dramatic swings in price or sales volume and more predictable seasonal patterns.

“A market like we currently are in, that experiences typical seasonality and includes a healthy amount of inventory and a good selection of interested buyers, is one where we won’t have that overheated pressure on pricing and on transactions that we saw in previous years,” VanderWal explained.

This balance between supply and demand means both buyers and sellers have more breathing room to make thoughtful decisions, do their due diligence, and negotiate effectively.

Inventory Levels: Up and Holding Strong

At the end of September 2025, there were 3,694 active listings on the Victoria Real Estate Board Multiple Listing Service®.

That’s a 2.6% increase compared to August 2025 and a 9.9% jump from the 3,361 listings available at the end of September 2024.

This steady increase in inventory continues to give buyers more options while helping keep price growth moderate — a key ingredient for a sustainable market moving forward.

Home Prices: Modest Gains for Single-Family Homes, Slight Dip for Condos

Now, let’s talk numbers — everyone’s favorite part!

The MLS® Home Price Index benchmark for a single-family home in the Victoria Core rose from $1,279,700 in September 2024 to $1,294,800 in September 2025, marking a 1.2% year-over-year increase. However, that’s down slightly from August’s value of $1,308,100 — a sign of mild seasonal softening as we move into fall.

For condominiums, the story’s a bit different. The benchmark value slipped from $553,400 in September 2024 to $547,500 in September 2025, a 1.1% decrease, and also down from August’s $551,300.

Market Commentary: What’s Driving These Trends?

According to Chair VanderWal, single-family homes and townhomes remain strong performers, while condos have softened slightly.

“Decreasing interest rates may bring more buyers into the field, including first-time home buyers who often purchase condos,” he noted.

For sellers, this means it’s crucial that your home is well-presented and correctly priced to attract the right attention in a balanced market. For buyers, the current environment offers more choice and less pressure, so it’s the perfect time to clearly define your needs vs. wants and take advantage of available options.

A Buying Window of Opportunity

Here’s where things get interesting — with interest rates trending downward and inventory levels high, we’re entering a potential sweet spot for buyers.

If you’ve been waiting for the right time to get into the market or move up into a larger home, this fall could offer a rare window of opportunity. Fewer bidding wars, more selection, and slightly relaxed prices on condos mean savvy buyers have a chance to negotiate excellent deals before demand picks back up again in early 2026.

Remember, even though the market feels balanced right now, conditions can shift quickly — especially once rate cuts fully take effect and sidelined buyers jump back in.

Get in Touch

So, there you have it — Victoria’s real estate market in September 2025 is stable, balanced, and showing all the hallmarks of a healthy fall season.

With increasing inventory, moderate price movement, and interest rates easing, both buyers and sellers have opportunities to make smart, strategic moves.

As always, if you’re considering making a real estate move this fall, let’s connect and build a personalized strategy to help you navigate today’s market with confidence.

Stay informed, stay patient, and make those moves wisely — because even in a balanced market, timing and preparation are everything.

Talk To Me Now

Glossary Term

Deed

A deed is a signed legal document crucial in transferring asset ownership, such as property or vehicles. Proper filing with the local government ensures legal recognition and enables owners to sell or leverage property for credit. Deeds differ from titles as they facilitate the transfer of ownership but aren't ownership themselves. Understanding the types of deeds—grant, warranty, and quitclaim—helps navigate the complexities of property rights and legal challenges.

https://www.investopedia.com/terms/d/deed.asp