1. Market Snapshot & Sales Trends
- Balanced Market with Strong Activity
- June 2025 saw 761 properties sold, a 15.1% increase from June 2024. Condo sales surged 23.3%, while single-family home sales rose 17.5%
- July maintained momentum with 680 sales, up 4.6% YoY. Condo sales continued to trend upward; single-family sales dipped slightly
- Victoria’s sales-to-active listings ratio sits around 17–18%, signaling a stable, neither overly hot nor sluggish market
- Pricing Trends: Stability with Segmented Movement
- Benchmark prices for single-family homes rose modestly: $1.325M in June, rising to $1.3388M in July
- Condo prices have slightly declined (~0.8%) over the year-long period
- Early 2025 average prices:
- Condos (1–2 bd): ~$610K (+4.5%)
- Townhouses: ~$820K (+3.8%)
- Detached homes: ~$1.175M (+6.2%) janinethomson.net.
- Some regional forecasts suggest a mild dip (~0.9%) in average home prices in 2025, but a rebound (~3.2%) in 2026 www.canadianrealestatemagazine.ca.
- BCREA anticipates BC-wide sales to dip in 2025, followed by an 8.8% rebound in 2026 Kelowna Real Estate.
- CMHC expects a gradual recovery in 2026 as economic and trade conditions stabilize CMHC.
- Local Insights
- One resident on Reddit summed it up:"2025 will likely be hotter as rates are going down... Supply will never match demand. You have to overpay to buy anything." Reddit
2. Development & Building Trends
Major Projects Reshaping the Skyline
- Harris Green Village: Approved mixed-use project, including two towers (20–21 storeys), 526 rental units (80 affordable), commercial space, and daycare .
- One Victoria Place: Proposal for a 35-storey tower—potentially the tallest on Vancouver Island—featuring residential units, commercial and live/work space, and public plaza .
- Roundhouse at Bayview Place: Nine towers (10–32 storeys), totaling ~1,870 homes (with 215 affordable rentals), commercial space, heritage restoration of an old roundhouse, parks, childcare, and transit-focused design across 20 acres .
3. Design & Energy Efficiency Trends
Building & Energy Design Highlights
- Sustainable Development Leadership – Dockside Green, though established earlier, remains a hallmark: a LEED-ND-certified redevelopment using biomass heating, onsite water recycling, and brownfield remediation Wikipedia.
- Energy Efficiency Incentives –
- CleanBC’s heat pump rebates ended in April 2025; a new Energy Savings Program launched mid-July 2025 offers up to $24,500 per household, including condos and rentals.
- BC Hydro still offers up to $4,000 rebates for heat pump installations Wikipedia.
- The federal Canada Greener Homes Grant has closed to new applicants Wikipedia.
- Projects now aim for net-zero or carbon-neutral performance, waterfront and heritage considerations, and active transportation features.
- Architecture trends lean toward flexible mixed-use, integrating green features and responsive height scaling.
4. Policy & Zoning Shifts
- Provincial Housing Reforms: Under Premier David Eby’s leadership, BC:
- Eliminated single-detached zoning across urban areas
- Enabled low-rise buildings with single-stair access
- Removed parking minimums near transit
- Incentivized density and streamlined approvals Wikipedia.
- Missing Middle Housing: Victoria adopted zoning for multiplex forms (houseplexes, etc.) in March 2023. While targets are in progress, the city continues pushing this agenda House Hunt Victoria+1.
- Housing Supply Initiatives: Pre-sale developments and “Missing Middle” units align with broader strategies to increase supply for families.
2025 → 2026: What Lies Ahead?
CategoryWhat’s NextMarketModest gains in 2025; stronger rebound expected in 2026 as tariffs ease and demand returns.DevelopmentMajor towers and mixed-use projects advancing; expect more mid-rise and multiplex forms via zoning reforms.Design & SustainabilityIncreasing adoption of net-zero ambitions, energy-efficient retrofits, and greener infrastructure.PolicyContinued support for housing diversity, transit-oriented development, and streamlined approvals.
Full Blog: Victoria’s Real Estate Story
Title: Victoria 2025 Real Estate: A Year of Balanced Growth and Sustainable Innovation, with Momentum Brewing for 2026
IntroductionVictoria’s real estate market in 2025 strikes a rare balance—steady activity, moderate price increases, strong condo demand, and a backdrop of transformative development and sustainability initiatives. As we look ahead, 2026 promises to build on this foundation, fueled by economic recovery and policy reinvention.Market Pulse
- June–July figures show consistent demand and balanced supply; sales up across housing types, yet no frenzy
- Detached homes gain value moderately; condos soften slightly, presenting opportunities for entry-level buyers janinethomson.net
- Provincial forecasts anticipate a dip in 2025 followed by renewed growth in 2026 as optimism returns CMHC.
Victoria’s skyline is poised for change: heritage-infused waterfront communities like Roundhouse, high-rise mixed-use hubs like One Victoria Place, and creation of complete neighborhoods such as Harris Green Village suggest a shift to vibrant, walkable, and Zoning-forward urbanism.
Sustainability in Focus
Energy-efficient and green building gains steam: Dockside Green shows what’s possible today, while expanding rebate programs support widespread adoption of heat pumps and sustainable retrofits Wikipedia+1.Policy Landscape Shaping Tomorrow
BC's bold housing reforms—dismantling single-family zoning, parking minimums, and enabling gentle density—are already influencing Victoria’s planning culture, complementing municipal Missing Middle efforts.
Energy-efficient and green building gains steam: Dockside Green shows what’s possible today, while expanding rebate programs support widespread adoption of heat pumps and sustainable retrofits Wikipedia+1.Policy Landscape Shaping Tomorrow
BC's bold housing reforms—dismantling single-family zoning, parking minimums, and enabling gentle density—are already influencing Victoria’s planning culture, complementing municipal Missing Middle efforts.
2025 is about stability, sustainability, and slow-burning transformation. Come 2026, a market upswing, completion of major projects, and deeper integration of green design could redefine how Victorians live, move, and invest. Watch the runway—Victoria is preparing for liftoff.