EXPLORE HOMES FOR SALE | VICTORIA, BC

Condos and Townhomes with Sustainable Features and Premium Amenities Welcome to Tresah West, a stunning 12-storey steel-and-concrete condominium development located on tree-lined Speed Avenue in Victoria’s Midtown. This premier location offers an exclusive opportunity for early investment in one of Victoria’s most dynamic and up-and-coming neighborhoods. Combining contemporary design with sustainable features, Tresah West represents the future of modern urban living, providing thoughtfully designed homes for those seeking the perfect balance between work, life, and play. Modern Homes for All Lifestyles Tresah West offers a wide range of layouts and floor plans, tailored to meet the needs of diverse homeowners. From sleek, modern condos to expansive townhomes with private patios, Tresah West caters to different lifestyles, whether you're a first-time buyer, a family, or an empty nester looking to downsize. The property features: Spacious 1- and 2-bedroom condos with open-concept designs that maximize light and space. Tresah+ Townhomes: Two-level townhomes with 20-foot ceilings, private walk-out patios, and large floor-to-ceiling windows that create seamless indoor-outdoor living spaces. 12th Floor Penthouses and Sub-Penthouses: Luxury living at its finest, these units come with expansive rooftop patios offering panoramic views of downtown Victoria and the Strait of Juan de Fuca. Whether you're seeking the comfort of a cozy one-bedroom or the grandeur of a penthouse suite, Tresah West has a home designed to fit your needs. The development offers an exclusive opportunity to enjoy luxury living in a prime urban location. Stunning Interiors with High-End Finishes The homes at Tresah West are not only built with sustainability in mind but are also designed with luxurious, high-quality finishes. Each home is crafted with attention to detail, blending modern aesthetics with functionality. Homeowners can choose between nature-inspired Dark or Light interior packages created by the talented team at Studio Roslyn, and select units feature West Coast Industrial-inspired interior packages curated by Area 3. These choices allow homeowners to tailor their living spaces to reflect their personal style. Key interior features include: Quartz countertops and backsplashes in both kitchens and bathrooms for a sleek, durable surface. Wide-plank oak flooring throughout the living areas, bringing warmth and elegance to each room. Laminate finish cabinets with soft-close doors and drawers for a modern and polished look. Whirlpool stainless steel appliance package, providing both functionality and style. Feature and LED under-cabinet lighting, adding sophistication and practical lighting to kitchen spaces. Spa-inspired bathrooms with custom tiles, detachable handheld showerheads, and luxurious tubs, creating the perfect retreat for relaxation. Whether you’re hosting a dinner party in your modern kitchen or unwinding in your spa-like bathroom, the attention to detail and high-end finishes at Tresah West will make every day feel like a luxury experience. Thoughtfully Designed Amenities for Your Comfort Living at Tresah West goes beyond the walls of your condo or townhome. The development offers an impressive range of amenities designed to enhance residents' everyday lives. These shared spaces provide opportunities for relaxation, socializing, and staying active: Rooftop Patio: Residents can enjoy expansive views of downtown Victoria and the Strait of Juan de Fuca from the rooftop, which also features an outdoor kitchen, alfresco dining areas, and cozy lounge spaces. This is the perfect spot for summer barbecues, evening cocktails, or simply taking in the stunning West Coast scenery. Art Deco-Inspired Lobby: The stylish lobby welcomes you with communal tables, a kitchenette, library, and cafe-style seating. It’s an ideal place to meet with friends, relax, or work from home. Pet-Friendly Spaces: With a dedicated pet area and a convenient pet wash station, Tresah West is a perfect fit for pet owners who want to live in comfort and style while accommodating their four-legged friends. Fitness Facilities: Stay active with a modern fitness center right in the building, so you never have to leave home to maintain your exercise routine. Secure Underground Parking: Available for purchase, the secure underground parking garage provides peace of mind and convenience for residents with vehicles. Bike Storage: For cycling enthusiasts, there’s secure underground bicycle storage, providing safe and easy access to your gear for those who love to commute or explore Victoria on two wheels. Sustainable and Energy-Efficient Living One of the most exciting aspects of living at Tresah West is its commitment to sustainability. Built with Step Code 2 energy standards, the development uses eco-friendly materials and energy-efficient systems to minimize its environmental impact, ensuring a healthier planet for future generations. Some of the key sustainability features include: Green Central Heating and Cooling: A state-of-the-art energy system provides efficient temperature control throughout the building, ensuring both comfort and reduced energy consumption. Carshare Program: Tresah West offers two EVs on-site as part of its carshare program, reducing the need for personal vehicles and promoting a more sustainable way of living. Recycled Steel and Carbon-Capture Concrete Construction: The building is constructed with sustainable materials, contributing to lower emissions during construction and providing long-term durability. On-Site Rainwater Management: An advanced rainwater management system ensures efficient use of water resources, further enhancing the building’s sustainability credentials. Prime Midtown Location: Convenience at Your Doorstep Tresah West is ideally located in Victoria’s Midtown, one of the city's fastest-growing and most exciting neighborhoods. Whether you’re commuting to work, heading out for a meal, or enjoying outdoor activities, Tresah West offers easy access to everything that makes life in Victoria so enjoyable. Best-Serviced Bus Route: Located on one of Victoria’s most accessible bus routes, commuting from Tresah West is quick and convenient. Steps to the Galloping Goose Trail: The regional cycling and walking trail is just moments away, offering a scenic route for both exercise and commuting. Across from Mayfair Shopping Centre: Victoria’s largest shopping center is right across the street, providing easy access to retail stores, dining, and entertainment. Close to the Gorge Waterway: Enjoy the waterfront lifestyle with a quick walk to the Gorge Waterway, where you’ll find waterfront dining, kayaking, paddleboarding, and parks for a day of relaxation or adventure. Whether you're running errands, enjoying the outdoors, or commuting to work, Tresah West places you at the center of it all. Flexible Pricing and Floorplans Tresah West offers homes at a variety of price points to accommodate different budgets and needs. Whether you're a first-time buyer or a seasoned investor, the development provides several options to fit your lifestyle: Studio units starting from $299,900 1-bedroom homes starting from $339,900 2-bedroom homes starting from $509,900 Townhomes and penthouses offer additional living space, luxury finishes, and private outdoor areas, perfect for families or those looking for more room to entertain. Why Choose Tresah West? Tresah West is more than just a place to live—it’s a lifestyle. With its modern designs, high-end finishes, and variety of layouts, this development offers something for everyone. Whether you're lounging on your private rooftop patio, taking a stroll on the Galloping Goose Trail, or exploring nearby shops and restaurants, life at Tresah West is designed to be convenient, luxurious, and eco-friendly. For more information on pricing and floorplans, visit the official Tresah West Floorplans page. Ready to Learn More? Interested in calling Tresah West home? Our team is here to assist you. Whether you're curious about pricing, want to schedule a tour, or need more details on floorplans, we're ready to guide you through the process. Connect with a Realtor today and take the first step toward making Tresah West your new home.

Modern Interiors and Flexible Financing in West Shore Welcome to Solaris, an exciting new two-building condominium development located at the intersection of Constellation Avenue and Meridian Avenue in the heart of Langford on Victoria’s West Shore. Rising five and seven storeys, Solaris offers a modern living experience with stunning lake views, sunny interiors, and an array of premium amenities that make life brighter. Whether you’re looking for a studio, a one-bedroom with a den, or a spacious two-bedroom unit, Solaris has the perfect home to match your lifestyle. A Range of Layouts to Fit Every Lifestyle With 130 homes spread across two six-storey buildings, Solaris provides a wide variety of unit layouts to suit different needs and preferences. Whether you’re a young professional, a first-time homebuyer, or a family looking for a little more space, Solaris has the right fit. Choose from: Studios starting at $399,900 + GST Jr. 1 Bedrooms from $409,900 + GST 1 Bedroom + Den from $459,900 + GST 2 Bedroom + Den from $569,000 + GST Each unit is designed to make the most of natural light and maximize comfort, offering expansive living areas with open-concept layouts. The combination of modern aesthetics and functional design ensures that every home feels spacious and inviting. Whether you’re downsizing, upgrading, or investing, Solaris offers a variety of options that cater to different lifestyle needs. For those working from home, the one-bedroom + den and two-bedroom + den units offer the perfect balance between work and living space. The den can easily serve as a home office, creative space, or reading nook, making the transition between work and relaxation seamless. Stunning Interiors and High-End Features Every home at Solaris is crafted with attention to detail and modern luxury. Choose between two curated interior design schemes—Halo and Aura—each offering a unique blend of aesthetics and functionality, with finishes that are both stylish and durable. Halo: Featuring a warm color palette, honed stone surfaces, matte black fixtures, and custom two-toned cabinetry. This design floods the interiors with natural light, creating a bright and welcoming atmosphere that’s perfect for entertaining or unwinding at home. Aura: A sophisticated package featuring two-toned cabinets in white and gray, with honed stone countertops, matte black fixtures, and sleek European hardware. The dramatic kitchen backsplash and bathroom floors bring a touch of luxury to everyday living. Both design packages come with quartz countertops, soft-close cabinetry, and sleek tile backsplashes that elevate the aesthetic of your kitchen and bathroom spaces. The Samsung appliance package—including a fingerprint-resistant stainless steel fridge, whisper-quiet dishwasher, gas slide-in range, and built-in microwave—ensures that your kitchen is as functional as it is stylish. Modern appliances help reduce energy consumption while enhancing the overall design of your home, blending efficiency with elegance. Spacious and Inviting Living Spaces One of the highlights of living at Solaris is the sense of space and openness. The 9-foot ceilings in every unit make each room feel larger, while the extra-large windows allow natural light to flood the interior spaces. This creates a bright and airy atmosphere, making your home feel connected to the surrounding natural beauty of Langford’s lakes and forests. In addition to the thoughtfully designed interiors, each unit comes with a private balcony where you can enjoy the serene lake views or watch the sunset. These outdoor spaces provide the perfect spot to relax with a morning coffee, read a book, or entertain friends. Exceptional Building Amenities Living at Solaris means enjoying an elevated lifestyle with exceptional building amenities designed to enhance your day-to-day experience. From the moment you step into the art deco-inspired lobby, you’ll be greeted by elegant design and sophisticated common areas that set the tone for modern living. Some of the standout amenities include: Outdoor Courtyard: Featuring cozy seating, outdoor cooking areas, and gas firepits, the landscaped courtyard is perfect for socializing, hosting gatherings, or relaxing on warm summer evenings. Whether it’s a barbecue with friends or a quiet evening under the stars, the courtyard is designed to be a communal space where residents can connect and unwind. Outdoor Fitness Area: Stay active and healthy with a state-of-the-art outdoor fitness area designed for exercise in the fresh air. This is an ideal space for yoga, stretching, or using fitness equipment to maintain your active lifestyle, all while enjoying the beautiful West Coast surroundings. EV-Ready Parking: Each unit comes with a designated parking stall prewired for electric vehicles in a secure, gated parkade. This feature ensures that Solaris is ready for the future of sustainable transportation, offering convenience for eco-conscious residents. Pet and Car Wash Stations: Pet owners will love the convenient pet wash station, where you can easily clean up after walks along Langford Lake or nearby trails. Meanwhile, car enthusiasts can take advantage of the on-site car wash, keeping your vehicle spotless without leaving the building. Secure Bike Storage and Locker Space: For those who enjoy cycling, Solaris provides ample bike storage in a secure area, ensuring that your gear is safe and accessible. Additional storage lockers are available, offering residents extra space to stow belongings. These thoughtfully curated amenities make life at Solaris more convenient, enjoyable, and community-oriented. Whether you’re hosting events, staying active, or simply relaxing, there’s something for everyone. Location and Community: West Coast Living at Its Best Situated in one of Canada’s fastest-growing cities, Langford, Solaris offers easy access to everything that makes the West Coast such an incredible place to live. From breathtaking natural landscapes to the convenience of urban amenities, Solaris is perfectly positioned to offer the best of both worlds. Langford Lake and its surrounding beaches are just moments away, offering opportunities for swimming, kayaking, and hiking. Imagine starting your day with a peaceful walk along the lake or an adventurous paddleboarding session. Nearby parks provide scenic walking and biking trails for nature lovers, with plenty of spots to stop for a picnic or simply take in the beautiful surroundings. If you’re a fan of outdoor activities, you’ll love having access to some of the best hiking and biking trails on Vancouver Island. The Westhills community is home to a variety of shops, restaurants, and recreational facilities, providing everything you need right at your fingertips. Enjoy a cup of coffee at a local café or explore the nearby boutique shops and eateries that add to the community’s charm. Great schools and playgrounds ensure that families have access to all the resources they need, making Solaris a perfect choice for families with children. Langford’s growth as a vibrant community means that everything you need is close by. At Solaris, you’re not just buying a home—you’re becoming part of a thriving community designed for modern living. Flexible Financing and First-Time Homebuyer Options For those ready to make Solaris their home, several units are move-in ready! With studios starting at $399,900, Solaris offers an attractive entry point into the Langford real estate market. Financing is made easier with the introduction of the RBC Green Home Mortgage Program, offering up to 35-year amortization, lower monthly payments, and increased buying power. This program is available exclusively for Westhills inventory, helping you unlock your dream home with more flexible financing options. For first-time homebuyers, Solaris offers additional support through a 30-year amortization option, designed to make homeownership more accessible. With reduced monthly payments, this is the perfect opportunity for buyers entering the housing market. To qualify, at least one borrower must meet specific first-time homebuyer criteria, making it easier to take that first step into homeownership. Why Choose Solaris? Solaris offers more than just a home—it provides a complete lifestyle in a flourishing community. With stunning lake views, bright and modern interiors, and a long list of premium amenities, this development is the perfect choice for anyone looking to enjoy the best that Langford has to offer. The range of unit sizes and flexible financing options, including the RBC Green Home Mortgage Program, make securing your dream home easier than ever. Visit the official website for more information! Ready to Learn More? Interested in calling Solaris home? Our team is ready to help. Whether you’re curious about pricing, want to schedule a tour, or need more details on financing options, we’re here to guide you through the process. Connect with a Realtor today and take the first step toward making Solaris your new home.

Contemporary Living at The Royale Welcome to The Royale, a collection of contemporary 1, 2, and 3-bedroom condominiums situated at 298 Island Highway in the historic and vibrant community of View Royal. Each home is thoughtfully designed with open-concept layouts, premium finishes, and modern conveniences, offering a blend of comfort and style in one of Victoria’s most desirable locations. Whether you’re a first-time homebuyer, growing family, or someone seeking a more refined and relaxed lifestyle, The Royale provides a perfect balance of modern living with the charm of a well-established neighborhood.   The Royale rises six storeys high, offering a variety of residences, some with spacious balconies and dens. Each unit has been meticulously crafted with the modern homeowner in mind. Open-concept designs create flowing, spacious living areas that maximize natural light, while smart home technology ensures that your living space is as convenient as it is stylish. With one-bedroom homes starting at $549,900, The Royale offers an affordable entry point into an upscale residential community. Buyers can take advantage of the split deposit structure—5% at signing and another 5% after three months—making it even easier to secure your dream home in this sought-after location. Unbeatable Location Nestled in the heart of View Royal, The Royale provides residents with the best of both worlds—easy access to urban amenities and proximity to nature. View Royal is known for its balance of lush landscapes, vibrant community life, and access to outdoor recreation. This means you can enjoy scenic parks, shopping, and essential services, all just minutes from your front door. Here’s what living at The Royale offers: 4 minutes to Admirals Walk Shopping Centre for groceries, dining, and day-to-day essentials. 5 minutes to Gorge Vale Golf Course, perfect for those looking to enjoy a relaxing day on the green. 5 minutes to Victoria General Hospital, one of the region’s top healthcare facilities. 7 minutes to Uptown Shopping Centre, home to high-end shopping, restaurants, and more. 14 minutes to Harbour Air Seaplanes, providing quick access to Vancouver and other nearby destinations. 25 minutes to Victoria International Airport, ideal for frequent travelers or business trips. Additionally, The Royale is just steps from parks, walking trails, and the scenic Gorge Waterway, making it the perfect location for those who love outdoor activities or simply appreciate having nature close by. Premium Amenities at The Royale One of the standout features of The Royale is its exceptional amenities. Every aspect of the building is designed to enhance your lifestyle, from the rooftop deck to the modern kitchens. Each amenity is curated to provide convenience, comfort, and enjoyment in your day-to-day life. Rooftop Deck: Take in panoramic views of the Gorge Waterway and surrounding mountains, providing a serene backdrop for socializing or relaxing. Air Conditioning: Every unit features in-suite air conditioning, ensuring your home remains cool and comfortable year-round. Samsung Energy Star Appliances: These high-efficiency appliances not only add a sleek look to your kitchen but also lower energy consumption, helping you save on utility costs while minimizing your environmental impact. NuHeat Heated Floors: Luxurious heated floors in the primary bathrooms bring warmth and comfort, turning your bathroom into a personal spa. Soundproofing: A superior soundproofing system between floors ensures privacy, making sure that your home is your sanctuary, free from noise disruptions. EV Charging Stations: For eco-conscious residents, prewired parking spaces for electric vehicles make charging convenient and hassle-free. Sustainable and Thoughtful Design The Royale takes a forward-thinking approach to sustainability. In today’s world, energy efficiency and environmental responsibility are more important than ever, and The Royale meets these demands. From Energy Star appliances to premium insulation, each home is designed to minimize its carbon footprint. The building’s construction also includes advanced heating and cooling systems that help regulate temperature efficiently, further reducing energy consumption and contributing to lower utility bills. For those driving electric vehicles, the building’s prewired EV parking spaces are a thoughtful addition, ensuring that you can charge your car conveniently and sustainably. Spacious and Elegant Living Spaces Each home at The Royale has been designed to create a bright, open, and inviting atmosphere. With 9-foot ceilings and extra-large windows, natural light floods into every unit, enhancing the spaciousness of the living areas. Whether you’re relaxing on your private balcony or hosting friends for dinner, the attention to detail in every corner of the home makes life at The Royale a pleasure. One-bedroom homes, starting at $549,900, offer affordable luxury, ideal for singles or couples looking for a stylish living space. Two-bedroom units, starting at $789,900, provide flexibility and space for families, remote workers, or those who desire an additional room for guests or an office. Three-bedroom homes offer up to three bathrooms and ample living space, perfect for families or those who enjoy entertaining in a larger, luxurious setting. Each unit is finished with quartz Carrera countertops, European-inspired cabinetry, and custom-built shelving, ensuring that your home is as functional as it is beautiful. High-quality materials, wide plank flooring, and glass balcony railings add to the elegance and refinement that set The Royale apart. Community and Lifestyle Life at The Royale is about more than just having a beautiful home—it’s about living in a vibrant, connected community. The nearby Gorge Waterway offers opportunities for kayaking, paddleboarding, and waterfront walks, while local parks provide space for picnics, hiking, and outdoor activities. Living here means enjoying the best of what Vancouver Island has to offer, from its natural beauty to its welcoming neighborhoods. The boutique grocery market located on the ground floor makes daily shopping convenient, allowing you to pick up fresh produce and essentials without leaving the building. Nearby dining options, cafes, and shops ensure that everything you need is right at your fingertips. The rooftop deck at The Royale further fosters a sense of community, providing a shared space where residents can gather, relax, and enjoy stunning views of the surrounding landscape. Whether it’s a morning coffee or an evening glass of wine, this space adds a touch of luxury to everyday life. Why Choose The Royale? The Royale stands out as a premier development in View Royal, offering a unique combination of modern design, sustainability, and community living. With flexible financial options—including a split deposit structure of 5% down at signing and another 5% in three months—it’s easier than ever to secure a home in this desirable community. From the well-appointed living spaces and high-end finishes to the environmentally conscious design and prime location, The Royale offers something for everyone. Whether you’re a young professional, a growing family, or someone looking to downsize into a more manageable yet luxurious space, The Royale provides a home that suits your lifestyle. Visit the official website to see all features and floor plans.  Ready to Learn More? Contact Us Today If you're interested in learning more about The Royale or would like to explore available units, our experienced real estate team is here to help. Whether you’re seeking additional details, want to request a brochure, or are ready to schedule a private tour, we’re just a click away. Connect with a Realtor today! We’re excited to help you find your next home at The Royale.

Market Remains Stable with Increased Sales Activity October 2024 continued to show a stable real estate market in Victoria, BC, with 654 properties sold—a 60.7% jump from the 407 sold in October 2023 and a 14.5% increase from September 2024. This rise in sales activity, though substantial, aligns more closely with the ten-year average, reflecting a balanced market as we move deeper into fall. Sales Breakdown: Condominiums: Sales increased by 32.6% year-over-year, with 187 units sold. Single-Family Homes: Sales saw a significant rise of 76.2% compared to October 2023, with 340 homes sold. 2024 Victoria Real Estate Board Chair-Elect Dirk VanderWal commented on the market's current dynamics: “Sales did increase notably over last year, but it’s essential to add context. October 2023 had the fewest sales in that month since 2008, which makes the year-over-year comparison appear more drastic. Last month’s sales numbers align with the ten-year average for October, indicating a return to more typical market conditions. Inventory levels have been stable, creating a more balanced market for buyers and sellers.” Inventory and Market Conditions At the end of October 2024, there were 3,161 active listings on the MLS®, marking a 6% decrease from September but a 14.7% increase from October 2023. This steady inventory provides buyers with choices, though desirable homes can still attract interest. VanderWal noted, “With recent rate drops from the Bank of Canada, we may see more activity as November begins the typical winter slowdown. Even with elevated sales, we’re in a comfortable environment for negotiation. Fewer multiple offers and more decision-making time create an ideal market for both buyers and sellers.” Pricing Trends Single-Family Homes: The MLS® HPI benchmark for a single-family home in the Victoria Core was $1,300,200 in October 2024, a slight year-over-year decrease of 0.8% from $1,310,100 in October 2023 and up from September’s $1,279,700. Condominiums: The benchmark value for a condominium in the Victoria Core decreased by 5.4%, from $578,800 in October 2023 to $547,800 in October 2024, also down from September’s $553,400. Looking Ahead to the Winter Market As we transition from fall, October’s steady activity hints at a balanced winter season. With prices stable and inventory sufficient, both buyers and sellers can approach the market with confidence. For tailored insights and strategic guidance, reach out to your local REALTOR®. For more detailed statistics and market updates, visit the Victoria Real Estate Board.

Market Shows Stability Heading into Fall September 2024 saw a steady real estate market in Victoria, BC, with 571 properties sold—a 15.8% increase from the 493 sold in September 2023, and a 4.8% rise from August 2024. This signals a more active market as buyers and sellers return from summer breaks. Sales Breakdown: Condominiums: Sales jumped 21.9% compared to September 2023, with 189 units sold. Single-Family Homes: Sales increased by 19.3%, with 272 homes sold. 2024 Victoria Real Estate Board Chair Laurie Lidstone commented on the current market dynamics: “The real estate market in Victoria right now is much more stable and predictable than it has been in recent years. We’ve seen a few solid months of near-balance, offering advantages for both buyers and sellers. With downward trending interest rates, stable pricing, and increased inventory, it’s one of the most comfortable markets for consumers to navigate in years.” Inventory and Market Conditions At the end of September 2024, there were 3,361 active listings on the MLS®, marking a 5.3% increase from August and a 24.5% rise from September 2023. This growing inventory provides more choices for buyers, but in-demand homes can still generate competition. “In a balanced market, there’s less pressure on pricing, and buyers have more time to make decisions,” Lidstone added. “However, homes in desirable locations or price points can still attract multiple offers. Connecting with a local REALTOR® can help you navigate these nuances and build the best strategy.” Pricing Trends Single-Family Homes: The MLS® HPI benchmark value for a single-family home in the Victoria Core dropped by 2.8% year-over-year, from $1,316,100 in September 2023 to $1,279,700 in September 2024. This also represents a slight decrease from August’s $1,287,400. Condominiums: The benchmark value for a condominium in the Victoria Core decreased by 5.1%, from $583,400 in September 2023 to $553,400 in September 2024, down from August’s $559,200. Looking Ahead to the Fall Market With the summer slowdown behind us, September signals a more active period in Victoria’s real estate market. Stable prices and a larger inventory make this fall an ideal time for both buyers and sellers. As always, consulting with a local REALTOR® is key to navigating the evolving market conditions. For more detailed statistics and market insights, visit the Victoria Real Estate Board.

Market Steadies Ahead of Fall Transition August 2024 saw a relatively calm real estate market in Victoria BC, with 545 properties sold in the region, a slight increase of 0.2% from the 544 properties sold in August 2023. However, this represented a more notable 16.5% drop in sales from July 2024, marking a typical seasonal slowdown as many buyers and sellers take a break for summer activities. Sales Breakdown: Condominiums: Sales rose by 10.4% from August 2023, with 181 units sold. Single Family Homes: Sales saw a 7.7% decline from August 2023, with 252 homes sold. Laurie Lidstone, 2024 Chair of the Victoria Real Estate Board, commented on the seasonal nature of the market: “The final month of the summer is generally a rather relaxed one in terms of real estate sales and listings. Many folks pause their home shopping activities or sales listing to make the most of other summer activities and vacations. It’s no surprise that sales this year were so close to the sales from 2023 and that listings declined slightly from the number we saw in July.” Inventory and Market Conditions By the end of August 2024, there were 3,191 active listings on the Multiple Listing Service® (MLS®), representing a 4.7% decrease from July 2024, but a significant 28.2% increase from the 2,490 listings available in August 2023. This drop in listings compared to July follows a typical seasonal trend, as many sellers choose to wait until fall to re-enter the market, while the overall increase from last year points to a more balanced market with more options for buyers looking at real estate for sale in Victoria BC. Chair Lidstone noted that while August may have been quieter, activity is expected to pick up soon. “It’s likely our market will trend a bit busier in the upcoming fall months,” she added. “In September, people return their attention to work and school and to bigger projects like making a move. Week by week into the fall, our market will evolve, so if you are considering locating and purchasing real estate in the Victoria area, connect with your favourite local REALTOR® to help develop your best strategy.” Pricing Trends The MLS® Home Price Index (HPI) benchmark value for single-family homes in the Victoria Core decreased by 3%, from $1,327,800 in August 2023 to $1,287,400 in August 2024. This also represents a slight drop from July 2024’s value of $1,296,100. The overall decline in home prices for single-family homes offers buyers a potential opportunity to enter the market at a lower price point. For condominiums, the benchmark value in the Victoria Core followed a similar trend, decreasing by 2.9%, from $575,900 in August 2023 to $559,200 in August 2024. This is also down from July 2024’s value of $567,800. Despite these modest declines, condominium sales were up year-over-year, indicating continued interest, particularly for buyers looking for more affordable options in a market that has remained competitive. Outlook for the Fall Market While the summer months typically see a cooling off in market activity, as reflected in the lower sales and inventory numbers, September is expected to bring renewed energy to the market. As people return from vacations and refocus on larger projects such as moving, the fall season traditionally sees a bump in activity. This could be a great time for both buyers and sellers to engage with the real estate market in Victoria BC, especially with current inventory levels offering a wider range of choices. Chair Lidstone advises anyone considering a move this fall to connect with a local REALTOR® who can help navigate the changing market conditions and develop a strategy tailored to their needs. For more detailed statistics and market insights, visit the Victoria Real Estate Board. MLS® property information is provided by the Vancouver Island Real Estate Board, and all information is provided under copyright© by the Victoria Real Estate Board. Victoria is the capital of British Columbia, located on the southern tip of Vancouver Island.