As a veteran real estate professional deeply rooted in Victoria’s housing market, I’ve seen firsthand how local trends often echo broader national and global influences. April 2025 was a clear reflection of that connection — a month that showed subtle movement, shaped not just by real estate fundamentals, but by political and economic headwinds reaching beyond our city limits.
Market Snapshot
In April 2025, a total of 642 properties were sold in the Victoria Real Estate Board (VREB) region. This figure represents a 5.3% decrease compared to the 678 sales in April 2024, but also a 4.7% increase over March 2025, signaling a modest springtime uptick despite the uncertainty.
Here’s a closer look at the breakdown:
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Condominium sales came in at 187 units, down 10.1% year-over-year.
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Single-family home sales remained fairly stable, with 335 units sold, a slight 0.6% decline from April 2024.
According to VREB Chair Dirk VanderWal, “While sales were up from March, activity in April was most likely impacted by events in play well beyond our immediate real estate market.” He points to federal election-related political uncertainty and U.S.-driven economic concerns as contributing factors.
Stability Amid Broader Uncertainty
Despite these outside forces, Victoria’s real estate market continues to show signs of stability. Price growth remains flat but steady, and inventory levels are improving — a healthy sign for both buyers and sellers.
At the end of April 2025, there were 3,425 active listings on the Victoria Real Estate Board MLS®, up 13.3% from March 2025 and 13.5% from April 2024. This is an encouraging trend and places us within the “sweet spot” of inventory (between 3,000 and 4,000 listings), where demand can be met without excessive upward pressure on pricing.
This level of inventory gives buyers room to breathe and consider their options, while still creating opportunity for sellers — particularly those in segments with higher demand.
Property Values: Modest but Meaningful Growth
Here’s how benchmark prices are holding up in the Victoria Core:
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Single-family homes:
April 2024: $1,301,800
April 2025: $1,344,800 (+3.3% YoY) -
Condominiums:
April 2024: $561,200
April 2025: $566,100 (+0.9% YoY)
We’re not seeing dramatic surges, but this steady pace suggests the market continues to reward well-positioned properties — particularly in sought-after neighborhoods or popular price bands.
What This Means for You
As always, it’s important to remember that Greater Victoria is made up of many micro-markets. While some areas and property types — especially single-family homes in desirable ranges — may still attract multiple offers, others (like condos) are seeing more inventory and slower movement.
If you’re considering a move, downsizing, or investing, now is a smart time to reassess your real estate goals. The balanced market offers both opportunity and room to negotiate, but strategy matters more than ever.
Let’s talk about how to position your property for success or find you the right fit in today’s market.
