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Victoria Real Estate Market Update: November 2025 Shows Balanced Conditions and Patient Buyers

December 3, 2025

Victoria Real Estate Market Update: November 2025 Shows Balanced Conditions and Patient Buyers

The Victoria real estate market update for November 2025 reveals a calmer, more patient market heading into winter. While overall sales slowed compared to last year, inventory remained healthy, prices stayed relatively stable, and the market continued to show signs of balance across most property types.

For home buyers, sellers, and investors, this month’s data shows a market that is neither overheated nor declining — a welcome shift after the volatility of the early 2020s.

Victoria Real Estate Market Update: November 2025 by the Numbers

A total of 451 properties sold in the Victoria Real Estate Board region this November. Here’s how that compares:

  • 18.1% fewer sales than November 2024 (551 sales)

  • 26.9% fewer than October 2025

  • Still higher than November 2022 and November 2023

Breaking down by property type:

  • Condominium sales: 119 units sold

    • Down 36% from November 2024

  • Single-family homes: 241 sold

    • Down 8.4% year-over-year

These numbers confirm what many agents have experienced firsthand — a late-fall cool-down that gives both buyers and sellers more breathing room.

How This Year Differs From Last Year

“We observed a slowing of the pace of sales this month that we didn’t experience last year at this time,” said VREB Chair Dirk VanderWal.

But the year-over-year comparison doesn’t tell the whole story. Here’s why:

2024:

  • An unusual surge in late-year sales

  • Buyers rushed in after a slow start

  • Not reflective of typical seasonal patterns

2025:

  • Higher-than-normal spring sales

  • A return to seasonal trends

  • More patience and less urgency among consumers

Even though this year’s November numbers appear softer than 2024, they are significantly stronger than November 2022 and 2023, placing 2025 comfortably in line with long-term averages.

This aligns with the theme of this Victoria real estate market update:
Balanced, predictable, and steady.

Inventory Levels: Plenty of Options for Buyers

There were 3,152 active listings on the MLS at the end of November 2025. This represents:

  • A 7.9% month-over-month decrease from October

  • An 11.1% year-over-year increase compared to November 2024

This means buyers have more choice than last year, but the market is not oversupplied. Instead, it’s steady — offering selection without creating downward pressure on prices.

VREB describes the overall tone for November as one of patience. Buyers are:

  • Taking more time

  • Comparing options

  • Feeling less pressure to make quick decisions

This is a major contrast from the competitive markets of previous years and is one of the key reasons this Victoria real estate market update shows stability heading into winter.

Balanced Conditions Continue

According to VanderWal, “Our market remains in a balanced position.”

This means:

  • Sellers who price fairly and prepare their homes well will attract offers

  • Buyers have time to negotiate and evaluate

  • Neither side holds disproportionate power

However, balance varies depending on property type and location. For example:

  • Single-family homes continue to see steady demand

  • Condos are softer, offering excellent selection for buyers

  • Townhomes remain strong due to family demand and affordability

This reinforces the importance of working with a local real estate expert who understands which micro-markets lean more toward buyers or sellers.

Victoria Home Price Trends for November 2025

Pricing trends in this Victoria real estate market update remain consistent with a balanced environment.

Single-Family Homes

  • Benchmark value in Victoria Core (Nov 2024): $1,313,900

  • Benchmark value in November 2025: $1,276,700

    • Down 2.8% year-over-year

    • Down slightly from October 2025 ($1,280,100)

This slight moderation reflects seasonal cooling rather than market weakness.

Condominiums

  • Benchmark value in Victoria Core (Nov 2024): $542,100

  • Benchmark value in November 2025: $553,100

    • Up 2% year-over-year

    • Up from October 2025 ($549,000)

This makes condos one of the most stable and even appreciating segments of the current market — a welcome trend for first-time buyers and investors.


Alt text: “Victoria real estate market update November 2025 condo prices increasing”

What This Means for Buyers

Buyers today can enjoy several advantages that were simply not available in the intense markets of the early 2020s:

  • More inventory and a wider range of price points

  • More time to evaluate homes

  • Less competition in most segments

  • Lower interest rates improving affordability

For buyers exploring the condo market, the combination of soft sales and modest price growth makes this an excellent time to enter the market.

What This Means for Sellers

Sellers should not interpret slower sales as a declining market. Instead, now is the time for:

  • Accurate pricing

  • Strong marketing

  • Quality presentation

Well-priced, well-presented homes are still selling — and often faster than expected. This Victoria real estate market update shows that the region remains stable and in demand.

Why Working With a Local Expert Matters

As the market stays balanced, strategy becomes more important than ever. Homeowners need expert guidance to understand how their specific property fits into shifting conditions. Buyers benefit from local insight into micro-markets that still show strong demand.

As one of the top realtors in Victoria BC, Brad Maclaren helps clients interpret market trends, price correctly, and make confident decisions in every type of market.

Contact Brad today for a personalized assessment of your buying or selling opportunities in the Victoria real estate market.