Victoria’s Real Estate Market Holds Steady in May 2025: A Balanced Landscape for Buyers and Sellers

In a region often known for fast-paced and competitive real estate swings, Victoria, BC’s property market in May 2025 is proving to be refreshingly steady. With balanced conditions and an uptick in available listings, both buyers and sellers are finding a more predictable, less pressured environment to navigate—an experience rarely seen in recent years.

According to the Victoria Real Estate Board, a total of 758 properties were sold across the region in May. While this represents a slight 0.7% dip compared to May 2024, it marks an impressive 18.1% increase from April 2025, signaling a late-spring revival in buyer interest. Sales of single-family homes inched up by 0.5% year-over-year, reaching 401 units sold, whereas condominium sales dipped by 6%, with 221 units moving hands.

“Victoria’s real estate market in the month of May was positive for consumers on both sides of the transaction,” said Dirk VanderWal, Chair of the Victoria Real Estate Board. “Ample inventory coming to market outpaced brisk sales, which provided a consistent amount of choice and eased competition on high-demand properties.”

And that inventory surge is worth noting: the region closed the month with 3,716 active listings, up 8.5% from April and 11.3% from May 2024. It’s the highest number of new listings recorded since May 2008, allowing some long-overdue breathing room in a market that’s historically been starved for supply.

This environment—characterized by stable prices, predictable interest rates, and more inventory—is giving rise to what VanderWal describes as a “boring” but comfortable market. And perhaps, in real estate, boring is good.

“We’ve tracked the highest total sales since May 2024 and the highest number of new listings in over 15 years,” VanderWal added. “But it’s important to remember that Victoria’s market is made up of many micro markets. Whether you're buying a condo downtown or a detached home in the suburbs, your experience will vary—and so should your strategy.”

On the pricing side, the MLS® Home Price Index (HPI) benchmark for a single-family home in the Victoria Core edged up 1.3% year-over-year, landing at $1,326,600—though this figure dropped slightly from April’s $1,345,200. Meanwhile, condominium benchmark values dipped by 0.9% over the year, now sitting at $564,100, down marginally from $566,300 in April.

Final Thoughts

Victoria's May 2025 market trend represents a noteworthy shift toward balance and sustainability. For years, residents have grappled with limited inventory and relentless bidding wars. This recent pattern of modest price growth, easing competition, and healthy listing volume may not generate flashy headlines—but it’s a much-needed development for anyone hoping to make a smart, secure move.

Whether you’re looking to buy your first home, upgrade, or sell a long-held property, the key takeaway is clear: in today’s Victoria market, informed decisions, local expertise, and a measured approach will go a long way. A trusted REALTOR® can help guide you through the intricacies of your specific market segment—no drama required.