Victoria Real Estate Market Update September 2025
Welcome to my September 2025 market update. The Victoria real estate market didn’t just shift—it dug in and we’ve entered a phase of remarkable stability. It’s a calm certainty that has replaced the chaos of years past, allowing for a more strategic and thoughtful approach to buying and selling property in our beautiful city. This transition is the central story of the Victoria Real Estate Market Update September 2025, and the data tells a clear story: we’ve found our footing.
The Numbers Tell the Story: A Closer Look at the Data
While the overall market has settled, a deeper look at the numbers from the Victoria Real Estate Board reveals some fascinating and encouraging trends. Sales volume saw a slight dip, but the real headline is the surge in available inventory, providing buyers with an unprecedented level of choice. This is a buyer’s moment, with more options and less pressure to make rushed decisions.
| Metric | September 2025 | September 2024 | Year-over-Year Change |
|---|---|---|---|
| Total Sales | 525 | 545 | ▼ 3.7% |
| New Listings | 985 | 980 | ▲ 0.5% |
| Active Listings | 3,600 | 2,985 | ▲ 20.6% |
| Average Days on Market | 42 days | 28 days | ▲ 50.0% |
| Single-Family HPI | $1,308,100 | $1,287,400 | ▲ 1.6% |
| Condominium HPI | $551,300 | $559,200 | ▼ 1.4% |
The Home Price Index (HPI) is holding its ground for single-family homes, showing a modest increase of 1.6% from last year. This isn’t a market in freefall; it’s stable and predictable. The condominium HPI, however, has seen a small decrease, which can be an excellent opportunity for first-time buyers looking to get into the market. The increase in the average days on market is a clear signal that the frenzy is over, and both buyers and sellers have more time to strategize.
Victoria real estate market insights from the ground
Dirk VanderWal, the 2025 Victoria Real Estate Board Chair, has a firm grip on the market’s pulse. His recent statement perfectly encapsulates the current mood. He said, “We’ve seen fairly stable prices and interest rates for over a year now. These factors, combined with the improved availability of inventory, have translated into a real estate market which has a much different pace than the highly pressurized conditions that made headlines five years ago.” This is what we’ve been waiting for. A market where you can breathe, where you can think, and where you can plan your move without being rushed.
From my perspective on the ground, this new pace is all about informed decision-making. No longer is a home’s value simply driven by raw competition; it is now about professional presentation, strategic pricing, and understanding the nuances of your specific neighbourhood. The days of making an offer with no conditions are largely behind us, and a new era of careful due diligence has arrived.
What this market means for you
This new balanced market offers unique opportunities, but only for those who are prepared to act strategically. Here’s a breakdown of what this means, whether you’re looking to buy or sell.
For Buyers: a moment of opportunity
For years, many potential buyers have been sidelined by intense competition and a lack of options. Now, the tables have turned. You have a chance to find the right property, negotiate on price, and include important conditions like inspections and financing.
- More Choice: With active listings up significantly, you have more homes to choose from. This gives you the power to find a property that truly fits your needs, not just what’s available.
- Time to Decide: The days on market have increased, giving you the time you need to properly evaluate a home, review all disclosure documents, and arrange for a professional inspection.
- Negotiation Power: In a balanced market, sellers are more open to negotiating on price and terms. This is a huge advantage and a key benefit of the current conditions.
- Pre-Approval is Key: Before you start your search, get fully pre-approved for a mortgage. This will give you a clear budget and show sellers you’re a serious, qualified buyer.
For Sellers: strategy is everything
Selling a home in a balanced market requires a different approach. The “list and wait for offers” strategy is less effective. Success now depends on smart preparation and a competitive mindset.
- Price it Right from Day One: Overpricing your home is the biggest mistake you can make right now. A well-priced property will attract serious buyers, while an overpriced one will sit on the market, eventually requiring a price reduction.
- Presentation Matters: With more options on the market, your home needs to stand out. Professional staging, high-quality photography, and a tidy, well-maintained exterior are no longer optional—they are essential.
- Be Patient: The average days on market has increased. This doesn’t mean something is wrong with your property; it means the market has slowed to a more manageable pace. Be prepared for a longer timeline and trust the process.
- Highlight Your Home’s Value: Every home has unique selling points. Whether it’s a beautifully renovated kitchen, a large backyard, or a prime location, we need to highlight these features in our marketing to attract the right buyer.
Now is the time to move
The balanced market is here to stay, and it’s a great thing for everyone. People still need to buy and sell—this isn’t going to change. The question isn’t if you should make a move, but how. The stock market is holding steady, and the Bank of Canada will make its rate decision, but the market’s trajectory is already set. Now is the moment to get serious and make a plan for a great fall.
If you have questions about buying or selling in this new environment, give me a call. Let’s make a plan to get you where you need to be.
Ready to talk strategy? Contact me today to make your move.
Take care.