VICTORIA – Real estate sales are off and running early in 2025.
A total of 12.3 percent more properties were sold in the Victoria Real Estate Board region in February this year than in the same month last year, and 25.1 percent more than in January, 2025.
“February was another stable month for local real estate,” says Victoria Real Estate Board Chair Dirk VanderWal. “The combination of slowly growing inventory and slightly increased sales means that our market remains in balance from the start of the year, which creates comfortable conditions for both buyers and sellers.
“Nearly two years of steady prices combined with recent favourable interest rates are positive factors for our market. Thus far, 2025 has been a good year to buy and sell.”
A total of 528 properties sold in the region in the past month, up from the 470 sold in February, 2024. Condominium sales of were up 26.3 per cent from February 2024 with 192 units sold, and sales of single family homes increased by 4.5 per cent from February 2024 with 234 sold.
There were 2,630 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2025, an increase of 9.8 per cent compared to the previous month of January and an 11.3 per cent increase from the 2,364 active listings for sale at the end of February 2024.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2024 was $1,262,200, and that rose to $1,309,500 in February, 2025m, which represents a 3.7 percent increase. January’s value was $1,287,200.
The MLS® HPI benchmark value for a condominium in the Victoria Core area slipped half a percent in February 2025 to $551,900 from $554,700 in February 2024, yet last month’s figure was up from the January value of $548,100.
“In these market conditions properties need to be well presented and properly priced to be successful,” VanderWal adds. “We are following our typical early spring market cycle, which generally speaking peaks in late spring. Hopefully in the upcoming weeks we’ll see more inventory enter the market to meet consumer demand. We will also watch what impacts any changes to global economic policies may have on our market if and when they occur.”
Business Examiner Staff
