Market Insight Series - September 2025

sasha540
Sep 3
3 min read

Updated: Sep 3

What does the current Victoria real estate market look like?

As part of our monthly Market Insight Series, I’m excited to continue sharing regular updates on the Victoria and Vancouver Island market. My goal is to highlight the most important numbers, define key terms, and give you resources so you can make smarter buying and selling decisions. If you’d like to see what last month’s Market Insight looked like, click here.

Ladies and gentlemen, let’s dive into the latest facts and figures straight from the Victoria Real Estate Board as of August 2025. Buyers, sellers, and investors—you’re going to want to pay close attention to these numbers.

In August 2025, a total of 525 properties sold across the Victoria Real Estate Board region. That’s 3.7% fewer than the 545 sales recorded in August 2024, and a notable 22.8% drop compared to July 2025.

Breaking it down further:

Condominium sales slipped by 16% year-over-year, with 152 units sold.
Single-family home sales, on the other hand, saw a 6.3% increase compared to last year, with 268 homes changing hands.

Chair’s Commentary

“August was a quiet but steady month,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “Typical of what we’d expect for the time of year, the late summer month saw fewer sales and a small decrease in available listings. Many people shift focus to vacations and back-to-school preparation in August. Home buying, selling, and moving projects are often put on hold until fall. Some sellers use the month to prepare their home for listing in the busier fall market.”

Inventory numbers support that seasonal slowdown. At the end of August 2025, there were 3,600 active listings on the Victoria Real Estate Board MLS®. That’s a 2.8% decrease from July 2025, but still a solid 12.8% increase from August 2024 when there were 3,191 active listings.

Chair VanderWal adds: “We’ve seen fairly stable prices and interest rates for over a year now. These factors, combined with the improved availability of inventory, have translated into a real estate market which has a much different pace than the highly pressurized conditions that made headlines five years ago. The current market allows buyers and sellers more time to review their options, evaluate properties, and make decisions at a healthier pace.”

Home Prices

Let’s talk prices.

The MLS® HPI benchmark value for a single-family home in the Victoria Core was $1,287,400 in August 2024. Fast forward a year, and in August 2025, that benchmark is up 1.6% to $1,308,100—though it’s slightly down from July 2025’s value of $1,338,800.
For condominiums, the story looks different. The benchmark was $559,200 in August 2024, but by August 2025 it had decreased by 1.4% to $551,300, down from $563,300 in July 2025.

Opportunities for Buyers & Sellers

Here’s the big takeaway: today’s market is stable, balanced, and moving at a slower, more manageable pace. For buyers, that means more time to evaluate properties and negotiate without the frantic pressure of past years. For sellers, it’s a reminder that pricing strategically and preparing your home properly are key to standing out in a competitive but steady environment.

The upcoming fall market is typically busier, and we could see momentum pick back up as more listings hit the MLS®. If you’ve been considering buying or selling, September through November could be your window of opportunity.

Opportunities for ordinary people looking to get into their first home, or move up into an affordable nicer home are still out there, it just takes a bit of diligence, and ideally the support of a committed agent.

Conclusion

So there you have it, folks—the Victoria real estate market in August 2025 was quieter but steady, marked by slower sales, stable prices, and growing inventory. These conditions give both buyers and sellers more breathing room to make smart, calculated moves.

As always, if you’re navigating this ever-changing market, connect with a trusted REALTOR® who can guide you with up-to-the-minute insight.

Stay tuned for next month’s Market Insight, and check out the resources below if you want to dive deeper.

Talk To Me Now

Glossary Term

Addendum.

An addendum is an attachment to a contract that modifies the terms and conditions of the original contract. Addendums are used to efficiently update the terms or conditions of many types of contracts.

https://www.investopedia.com/terms/a/addendum.asp