1. Inventory Is at Its Highest in Years
Victoria’s real estate market is experiencing an unprecedented boost in active listings. As of May 2025, there were 3,716 active listings, marking the highest inventory in over a decade—up 11.3% year-over-year and 8.5% month-over-month.This abundance of choice means less frenzied competition, fewer bidding wars, and more time to plan your purchase.
2. Stable Prices & Balanced Market Conditions
Pricing trends show a stable and balanced market. As of May 2025:- Single‑family homes averaged $1,326,600, up 1.3% year‑over‑year but slightly down from April.
- Condos averaged $564,100, down 0.9% year‑over‑year.
3. Interest Rates Poised to Stay Low
The Bank of Canada has held its key overnight rate steady at 2.75%, with expectations of at least two more rate cuts this year—starting possibly as soon as September.Stable or declining interest rates helps reduce borrowing costs and improves mortgage affordability—an opportune climate for buyers locking in now.
4. Less Pressure, More Strategy
With rising inventory and stabilized prices, buyers now enjoy breathing room to:- Visit multiple properties
- Take time on due diligence and inspections
- Negotiate closing cost concessions or flexible terms
This contrasts sharply with the high‑pressure bidding wars of previous market cycles.
5. Victoria’s Strong Value Fundamentals
Victoria continues to attract buyers with:- Limited developable land
- High quality of life and stable industries (tech, healthcare, public service)
- Long-term appreciation of real estate even amid broader fluctuations.
Bottom Line: A Winning Window for Buyers
Right now, Victoria offers a balanced market, where buyers benefit from:- High inventory and variety
- Stable prices, especially in the condo sector
- Predictable (possibly improving) borrowing costs
- Time and strategic flexibility
- Enduring location appeal and value retention