Greater Victoria Real Estate Market Sees Spring Surge in March
The Victoria BC real estate market continued its steady momentum into spring, with both sales and inventory on the rise in March 2025. According to the Victoria Real Estate Board (VREB), a total of 613 properties sold in the region during the month, marking a 4.3% increase from March 2024 and a significant 16.1% rise from February 2025. These numbers underscore the region’s resilience and adaptability, even in the face of global economic uncertainties.
Condominium sales led the way with a 14.1% year-over-year increase, totaling 202 units sold. Sales of single-family homes also climbed, albeit more modestly, by 2.1%, with 292 homes changing hands. These stats point to growing consumer confidence and a healthy appetite for a wide range of property types across Victoria BC.
Market Remains Stable Despite Global Economic Uncertainty
“The economic uncertainty the world faces right now certainly colours our local real estate market,” said Dirk VanderWal, Chair of the Victoria Real Estate Board. “In spite of this, our market remains as it has in recent months—stable and balanced. Inventory levels this past month held steady at over three thousand listings, which meant that there was a good amount of selection for buyers, while relatively flat pricing meant more predictability for sellers and buyers.”
At the end of March 2025, there were 3,023 active listings on the Victoria Real Estate Board Multiple Listing Service® (MLS®). This figure represents a 14.9% increase from February and a 14.2% increase from the 2,647 listings recorded at the end of March 2024. This uptick in inventory is a positive sign for those navigating the housing market in Victoria BC, providing more options and reducing pressure on both buyers and sellers.
Balanced Market Creating Opportunity
As the region transitions into the peak spring real estate season, the market’s equilibrium continues to offer valuable opportunities. “As in past months, the balanced market in March softened the demand-side pressures of markets we’ve seen in recent years. There is more time for decision making, which is a positive aspect for both sellers and buyers,” VanderWal added.
The luxury of time is something that was in short supply during previous years’ highly competitive market conditions. Now, with more balanced dynamics, buyers have the opportunity to thoroughly research neighborhoods, compare listings, and work closely with their agents to make informed choices. Sellers, too, benefit from this shift, as serious buyers are still active and engaged.
Additionally, VanderWal notes that “thoughtfully priced and presented homes are selling well,” and even mentions “instances of multiple offers,” a hallmark of a busy spring market. For those considering selling, the key takeaway is clear: proper pricing and presentation remain critical to success in today’s climate.
Home Prices Trending Upward
Home prices in Victoria BC continue to show upward momentum, albeit in a more measured fashion compared to the sharp increases of past years. The MLS® Home Price Index (HPI) benchmark value for a single-family home in the Victoria Core climbed to $1,335,300 in March 2025. This represents a 3.6% increase year-over-year from $1,288,400 in March 2024, and a gain from February 2025’s $1,309,500.
Condominiums, which remain a popular option for first-time buyers, investors, and downsizers alike, also saw modest appreciation. The benchmark value rose to $560,400 in March 2025, up 0.4% from March 2024’s $558,200, and a noticeable increase from February’s $551,900.
These numbers reinforce the notion that while price growth may be more tempered than in years past, real estate in Victoria BC continues to be a sound long-term investment. Stable price increases support a healthy market that encourages both new buyers and those looking to upgrade or relocate.
Victoria BC: A Market Defined by Livability and Demand
Beyond the data, it’s important to consider the factors that continue to make Victoria BC a top destination for real estate investment. With its mild climate, natural beauty, and thriving arts, culture, and culinary scenes, Victoria consistently ranks as one of Canada’s most livable cities. This lifestyle appeal translates to sustained demand across various buyer segments, from young professionals to retirees.
Additionally, infrastructure improvements, new developments, and a steady population increase continue to bolster demand. Buyers are looking for walkable neighborhoods, access to green space, and proximity to amenities—and Victoria BC delivers on all fronts. The city’s enduring appeal makes working with an experienced local expert essential to making the most of real estate opportunities.
Working with a Local Expert
Navigating any real estate market—particularly one with increasing options and ongoing economic influences—requires insight, strategy, and trusted guidance. Whether you’re buying or selling in Victoria BC, working with the top realtor in Victoria BC can make all the difference.
Brad Maclaren, widely recognized as one of the best real estate agents in Victoria BC, brings unmatched local knowledge, a strong network, and proven expertise to every transaction. His years of experience and client-first approach help ensure that your real estate goals are not only met—but exceeded. From market analysis to negotiation and closing, Brad Maclaren is the partner you want by your side.
Whether you’re entering the market for the first time or seeking to move up or downsize, Brad’s tailored approach helps you navigate every detail with confidence. In a market where timing, pricing, and presentation matter, having a seasoned professional like Brad Maclaren can give you the competitive edge.
Final Thoughts
With rising inventory, steady pricing trends, and increased buyer confidence, the Victoria BC real estate market is entering a robust spring season. While global economic factors may introduce uncertainty, the local landscape remains resilient and offers opportunities for those prepared to act thoughtfully.
As always, staying informed and partnering with a knowledgeable REALTOR® is the best way to navigate any market conditions. If you’re ready to explore your next move in the Victoria area, now is an excellent time to do so.