July 2025 Victoria Real Estate Board Market Statistics

As we moved through July, the Victoria real estate market showed encouraging signs of balance—offering both buyers and sellers some breathing room during the typically slower summer months. A total of 680 properties changed hands in the Victoria Real Estate Board (VREB) region this July. That’s a 4.6% increase over the 650 sales recorded in July 2024, though a slight 10.6% dip from June 2025, as expected with seasonal trends.

One of the key takeaways from this month’s data is the stability in inventory. With 3,703 active listings at the end of July, buyers are continuing to see more choice across price ranges and property types—an increase of 10.6% from the same time last year. While inventory dipped slightly by 2% compared to June, it remains at healthy levels for those actively shopping this summer.

A Mixed Bag for Property Types

Condominiums in particular saw a bump in activity, with 225 units sold—a 5.6% rise from July 2024. This could reflect continued interest from first-time buyers, downsizers, and investors alike who are attracted to the relatively affordable entry point and lower maintenance lifestyle condos offer.

On the other hand, single-family home sales dipped slightly, down 0.3% year-over-year, with 318 units sold. While that’s nearly flat, the pricing data tells an interesting story.

• The MLS® HPI benchmark value for a single-family home in the Victoria Core rose to $1,338,800, a 3.3% increase from last year’s benchmark of $1,296,100. It also nudged up from $1,325,400 in June.

• Meanwhile, the benchmark value for condos decreased slightly year-over-year by 0.8%, settling at $563,300, up just a touch from June’s $562,800.

Market Sentiment: Steady and Predictable

According to VREB Chair Dirk VanderWal, the market remained active even as summer holidays set in:

“We did see a good pace of sales in July, and listing inventory remained at a stable level. This means that those shopping over the summer will have a good selection of homes to consider—but it also means there is enough market activity that we could see some properties go into multiple offers.”

This balance is welcome news for many, especially after a spring market that outperformed expectations despite economic uncertainty. Stable prices, more listings, and less urgency are creating an environment where clients can take time to make informed decisions.

Looking Ahead: Late Summer and Fall Opportunities

As we head into late summer and prepare for the typically more active fall market, buyers can enjoy a strong selection of listings and sellers can benefit from steady demand. If you're thinking of making a move—whether it's upsizing, downsizing, or investing—now is a great time to strategize.

As your local Victoria REALTOR®, I’m always happy to provide expert guidance tailored to your situation. Let’s chat if you're curious about your home's value, exploring buying opportunities, or just want to better understand the current market.

Want to know what your home is worth today?
Contact me via email at florenciomendejr@gmail.com or via phone at 250-882-1986 for a complimentary home evaluation or personalized market update.