Despite ongoing tariff threats and political whirlwind throughout 2025, Victoria's real estate market kept steady in March.
The latest report from the Victoria Real Estate Board (VREB) found that 613 properties were sold throughout the region, a 4.3 per cent increase from March 2024 and a more dramatic 16.1 per cent increase from February 2025.
Condominium sales were up 14.1 per cent from the same time last year, while single-family home sales rose 2.1 per cent.
“The economic uncertainty the world faces right now certainly colours our local real estate market,” said 2025 Victoria Real Estate board chair Dirk VanderWal. “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 3,000 listings, which meant that there was a good amount of selection for buyers, while relatively flat pricing meant more predictability for sellers and buyers.”
Listings have risen, as the VREB reported 3,023 active property listings for sale at the end of March 2025. This marked a 14.9 per cent gain compared to February 2025, and a 14.2 per cent gain from last year.
“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,” said VanderWal.
“Thoughtfully priced and presented homes are selling well, and we do see instances of multiple offers, which is often a hallmark of the spring market."
VREB's multiple listing service home price index benchmark value (MLS HPI) for a single-family home in the Victoria Core was $1,288,400 in March 2024. For the same home in March 2025, the index value shows a 3.6 per cent increase, pushing the price to $1,335,300. For a condominium, the MLS HPI value in the Victoria Core is now $560,400, up only 0.4 per cent from the price of $558,200 in March 2024.
