June 2025 MARKET UPDATE

Sales Snapshot: A Balanced Summer Market Takes Hold

June marked a turning point in the Victoria real estate market. With 761 properties sold across the region, we saw a 15.1% increase in sales compared to June 2024, and a slight 0.4% uptick from May 2025. Inventory has climbed to levels we haven’t seen in over a decade, giving both buyers and sellers room to breathe.

🔹 Single Family Homes
402 sales – Up 17.5% year-over-year
$1,325,400 (benchmark price – Victoria Core) – Up 2.3% year-over-year

Detached homes continue to anchor the market. Buyer activity is consistent, especially in desirable neighborhoods. Well-prepared homes priced with strategy are still moving efficiently, even in a more balanced environment.

🔹 Condominiums
249 sales – Up 23.3% year-over-year
$562,800 – Down 0.9%

After a slower spring, condos came roaring back in June. This resurgence could signal renewed buyer interest at the entry level and in investment properties. For buyers, the slight dip in pricing combined with increased inventory offers a timely opportunity to secure value in key locations.

🔹 Townhomes
75 sales – Down 7.4% year-over-year
$853,300 – Up slightly

Townhome activity softened in June, but pricing remains stable. This segment continues to appeal to both downsizers and families looking for more space without jumping to detached pricing.

📊 What’s happening in the market?

Market Conditions at a Glance:

Active Listings: 3,778 (up 9.2% YoY and 1.7% from May — highest in 10+ years)

Sales-to-Active Listings Ratio: Balanced (14–20%), indicating stable pricing conditions

Price Trends: Detached homes inching upward, condos holding, townhomes flat

💡 Thinking of buying or selling?

What This Means for You

For Sellers:
Despite the increase in listings, demand remains strong—especially in well-presented homes that are priced right. Detached homes in core areas continue to see activity, and condos, which lagged earlier this spring, saw a surprising resurgence in June.

If you're considering selling, now is the time to get strategic. With more competition, thoughtful preparation matters more than ever.

For Buyers:
After years of low supply and fast-moving conditions, the shift is noticeable. More listings mean more breathing room and opportunities for negotiation. The uptick in condo sales may indicate a rebound in the entry-level and investor markets. Paired with steady single-family demand, it’s a market that rewards preparation.

If you’re thinking about entering the market, this summer could be your window.

What I’m Watching Closely

Will the rise in condo sales continue into July and August?

Will interest rate shifts (or cuts) unlock more buying power this fall?

Will balanced market conditions hold through the rest of 2025?

These are the trends I’ll be monitoring closely so I can guide you with insight—not just instincts.

In Summary
Victoria is holding strong. This is not the frantic market of the past few years, nor a soft one. It’s measured. And that makes it a market where good advice, smart timing, and local expertise matter.

Real estate is always hyper-local. Every property and every neighbourhood tells a different story. Whether you’re thinking of making a move or just want a quick check-in on your home’s value, I’m always here to help — no pressure, just honest, helpful insight.

🏦 Mortgage Watch

The Bank of Canada rate announcement The next interest rate decision by the BoC is scheduled for July 30th, 2025.

With affordability still tight, your rate strategy matters more than ever. I’m happy to connect you with a mortgage specialist to explore your best options.

Let’s make informed decisions, together. For more statistical data sign up for my newsletter.

Warmly,
Lisa Davies
The Art of Home, Thoughtfully Delivered.
RE/MAX Camosun – Island Owned 🇨🇦

250-883-2220