BC Housing Market Sees Summer Momentum as Sales Edge Higher in July 2025

The British Columbia Real Estate Association (BCREA) reports that the provincial housing market continued to show signs of resilience in July 2025. A total of 7,056 residential unit sales were recorded on the Multiple Listing Service® (MLS®) Systems, marking a 2.2% increase compared to July 2024.

The average MLS® residential price across BC came in at $942,686, down 2.1% year-over-year from $963,047 in July 2024. Despite the slight dip in average prices, the total sales dollar volume remained stable at $6.7 billion, mirroring last year’s performance.

BC MLS® unit sales, however, were still 16% below the ten-year July average, reflecting a market that, while strengthening, is still working its way back from a quieter period.

According to BCREA Chief Economist Brendon Ogmundson, “Housing markets across BC continue to build momentum through the summer, with all regions apart from the Lower Mainland boasting higher sales activity from the previous year. With a stable trajectory for monetary policy, we expect sales in the province will continue to improve as tariff uncertainties fade.”

Year-to-date, BC residential sales dollar volume has dropped 9.4% to $40.8 billion, while residential unit sales are down 5.7% year-over-year at 42,895 units. The average MLS® residential price is also down 3.9% to $952,323 compared to the same period in 2024.

Victoria Housing Market – July 2025 Analysis

Victoria’s real estate market showed moderate strength in July 2025, with an average home price of $966,885, representing a 1.4% decline compared to last year. This small dip in pricing suggests a slight cooling in the market, but far from a major downturn.

Unit sales in Victoria rose by 4.8% year-over-year, with a total of 653 homes sold. This growth in sales activity, despite the modest price drop, indicates continued demand from buyers—likely fueled by stable interest rates and renewed market confidence.

Compared to other BC regions, Victoria is performing solidly:

• Price declines are modest compared to areas like Okanagan (-4.1%) and Greater Vancouver (-3.7%).

• Sales growth is in line with other strong-performing markets such as Vancouver Island (+17.4%) and BC Northern (+6.6%).

Overall, Victoria’s market remains balanced, with steady buyer interest and only mild downward pressure on prices—making it an attractive environment for both buyers and sellers navigating the current market cycle.