In April 2025, the Victoria Real Estate Board (VREB) reported the sale of 642 properties, marking a 5.3% decrease from April 2024's 678 sales, but a 4.7% increase compared to March 2025. Condominium sales declined by 10.1% year-over-year to 187 units, while single-family home sales saw a marginal 0.6% decrease, totaling 335 units sold.
VREB Chair Dirk VanderWal attributed the tempered market activity to external factors, stating, "Political uncertainty associated with the federal election, combined with broader economic concerns stemming from the United States tempered our spring market growth." Despite these challenges, he noted the market's resilience, evidenced by stable prices and consistent inventory levels. It is important to note that while certain price ranges of homes are experiencing high demand the condo market is seeing a surplus of inventory.
At the end of April 2025, active listings on the VREB Multiple Listing Service® reached 3,425, reflecting a 13.3% increase from March and a 13.5% rise from April 2024. This inventory level is the "sweet spot," balancing supply and demand, reducing pricing pressures, and providing buyers ample opportunity to make informed decisions.
Price trends remained steady, with the MLS® Home Price Index benchmark value for a single-family home in Victoria's core area rising 3.3% year-over-year to $1,344,800. Condominiums experienced a modest 0.9% increase, reaching a benchmark value of $566,100."
For more details: Victoria real estate board