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Victoria Real Estate Market Update: December 2025 Wrap-Up and What It Means for 2026

January 9, 2026

Victoria Real Estate Market Update: December 2025 Wrap-Up and What It Means for 2026

The final month of the year often provides valuable insight into where the market is headed next. According to the latest data from the Victoria Real Estate Board, December 2025 reflected a seasonal slowdown in sales, stable long-term performance, and clear signals about how inventory and pricing will shape the Victoria real estate market in 2026.

For home buyers and sellers, this update highlights a market that remains balanced, predictable, and driven by preparation rather than pressure.

December 2025 Sales Activity by the Numbers

A total of 367 properties sold in the Victoria Real Estate Board region in December 2025. This represents:

  • A 12.8 percent decrease from December 2024

  • An 18.6 percent decrease from November 2025

This slowdown is consistent with typical seasonal trends. December is historically one of the quietest months of the year as many buyers and sellers pause activity over the holidays and prepare for the new year.

Sales by Property Type

  • Condominiums:

    • 106 units sold

    • Down 21.5 percent year over year

  • Single family homes:

    • 186 sold

    • Down 2.6 percent year over year

While condo sales saw a sharper year-over-year decline, detached home activity remained relatively stable, reinforcing the ongoing demand for single family properties across Greater Victoria.

2025 Year-End Sales Show Market Stability

Looking beyond December alone, the broader picture of 2025 tells a story of consistency.

  • Total sales in 2025: 6,918

  • Total sales in 2024: 6,893

  • Year-over-year change: +0.36 percent

Despite global economic uncertainty and shifting interest rate conditions earlier in the year, Victoria’s real estate market delivered nearly identical sales volume to the previous year. This kind of stability is a strong indicator of a resilient, well-balanced market.

According to 2026 VREB Chair Fergus Kyne, 2025 was defined by steady sales and balanced pricing, supported largely by higher inventory levels.

Inventory Played a Defining Role in 2025

One of the most important factors shaping the market last year was the volume of new listings.

Victoria saw the second highest number of new listings on record enter the market in 2025. This influx of inventory created healthier conditions for both sides of the transaction.

  • Buyers benefitted from more choice and more time

  • Sellers benefitted from clearer expectations around pricing and timelines

  • The market avoided the extreme pressure seen earlier in the decade

By the end of December 2025, there were 2,544 active listings, which is:

  • A 19.3 percent decrease from November

  • An 11.1 percent increase from December 2024

This pattern reflects normal year-end behavior. Inventory tightens in December as fewer new listings come online, then begins rebuilding in January and February.

Home Price Trends in the Victoria Core

Price performance in December continued to reflect a balanced market, with variations by property type and region.

Single Family Homes

  • Benchmark value December 2024: $1,316,700

  • Benchmark value December 2025: $1,255,000

  • Year-over-year change: -4.7 percent

  • Month-over-month change from November: -1.7 percent

This modest softening reflects normalization rather than distress. Pricing adjustments were gradual and region-specific, not market-wide declines.

Condominiums

  • Benchmark value December 2024: $546,100

  • Benchmark value December 2025: $549,900

  • Year-over-year change: +0.7 percent

  • Month-over-month change from November: -0.6 percent

Condo values remained relatively flat throughout the year, reinforcing their role as one of the most stable segments of the Victoria market.

Regional Differences Matter More Than Ever

As Fergus Kyne noted, MLS Home Price Index trends in 2025 varied significantly by region and property type.

Key takeaways include:

  • Victoria Core: Single family values softened modestly

  • Westshore: Experienced small but steady gains

  • Condos: Remained largely flat across most regions

This reinforces an important point for 2026. Market conditions are no longer uniform across Greater Victoria. Strategy must be tailored to the specific neighborhood, property type, and buyer profile.

What This Means for Buyers Entering 2026

For buyers, the December data supports a positive outlook.

  • Inventory remains higher than previous years

  • Pricing has stabilized

  • There is time for inspections and due diligence

  • Negotiation is once again part of the process

Buyers who track neighborhood-level trends and act decisively when good value appears are well positioned in early 2026.

Winter buyers also tend to face less competition, particularly in January and February, before spring activity ramps up.

What This Means for Sellers in 2026

For sellers, the message is clear. Preparation and pricing matter more than ever.

In a market shaped by inventory, buyers respond best to homes that:

  • Are well-presented

  • Are priced accurately from day one

  • Reflect current market conditions, not past peaks

  • Offer clear value relative to comparable listings

Homes that meet these criteria continue to sell, even in slower months.

Looking Ahead: Strategy Over Speculation

As we move into 2026, inventory levels will continue to be a key driver of market behavior. Rather than reacting to headlines or short-term fluctuations, successful buyers and sellers will focus on:

  • Local data

  • Property-specific pricing trends

  • Timing that aligns with personal goals

  • Professional guidance

The Victoria real estate market has returned to a more traditional rhythm. This rewards informed decisions over urgency.

Work With a Local Expert Who Understands the Numbers

Understanding how these trends apply to your specific property or purchase requires local insight. As one of the top realtors in Victoria BC, Brad Maclaren helps clients interpret market data, price strategically, and build plans that align with current conditions.

Whether you are buying, selling, or planning a move later in 2026, now is the right time to understand where the market stands and how to position yourself within it.

Contact Brad Maclaren today to discuss your strategy for the year ahead.