Victoria’s Real Estate Trends: 2025 and Looking Ahead to 2026 

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

Takeaway: Overall, 2025 is a year of measured stability in Greater Victoria—modest price gains, strong condo demand, balanced inventory. A more robust upswing is expected in 2026 as economic headwinds ease.

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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 .

These developments signal a pivot toward higher-density, mixed-use, and transit-aligned growth.

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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.

Design Trends:

• 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.

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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. 

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2025 → 2026: What Lies Ahead?

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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

Introduction
Victoria’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.

Development & Design Momentum
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.