Victoria’s July 2025 market? Balanced. Period. The spring frenzy faded, sure, but what emerged was stability. A good pace of sales. Listing inventory holding strong. This wasn’t some quiet summer lull. This was a market defying the usual economic jitters. It surprised many. A healthy, undeniable stability throughout 2025.
Jeff Bishop’s July 2025 market breakdown: Stable sales, healthy inventory, and declining rates reshaping Victoria.
We saw 680 properties change hands across the Victoria Real Estate Board region in July. That’s up 4.6% from July last year. Significant. While June edged us out by 10.6%, July still kept buyers active. Condominiums surged, 225 units sold, a 5.6% jump from July 2024. People are buying condos. Single-family homes? A slight dip, just 0.3% down from last year, at 318 units sold. Yet, even with that minor shift, the market maintained enough heat that some properties still provoked multiple offers. This isn’t a standstill.
Listings. Essential. We closed July with 3,703 active listings on the MLS. A 10.6% increase from July 2024. That’s a good selection, folks. While June did see slightly more, a 2% drop from the previous month isn’t a collapse. It’s consistent. It provides choices. This stability means shoppers aren’t battling over scraps.
Pricing? Predictable. That’s the word. The Home Price Index (HPI) confirms it. For a single-family home in the Victoria Core, the July 2025 benchmark hit $1,338,800. Up 3.3% from last July’s $1,296,100. It even nudged past June’s value. Condos in the Core, $563,300. Down 0.8% from July 2024, but up from June. These aren’t wild swings. They’re measured movements. As I noted in my August market overview, “the home price index… has gone up 3.3%… hasn’t gone up 10 20 30% pretty stable.” This market rewards clarity.
Now, interest rates. Crucial. This is where the landscape truly shifts. A year ago, the benchmark rate was 4.5%. Forget that. Since March 2025, we’ve seen multiple reductions. As of August, it stands at 2.75%. That’s a game-changer. I even hear indications of another potential decrease following the government’s September 17th decision. That kind of movement fuels confidence. It gives buyers more purchasing power. It drives stability. We’re moving into late summer and fall with more selection, more time, and increasingly favourable borrowing conditions. The market’s rhythm is strong. Seize it.
Ready to navigate Victoria’s balanced market and capitalize on lower rates? Don’t wait. Connect with me now. Your next move starts here: https://jeffreycbishop.com/contact