The Greater Victoria real estate market in March 2025 continued to show strong momentum. New listings jumped significantly to 1,487, marking a 20% increase from last month and 11% more than the same time last year. Active listings also rose to 3023, up 10% month-over-month and a notable 20% year-over-year, indicating more choices for buyers entering the spring market. There were 613 properties sold during the month—an increase of 10% from February, and slightly above the 600 homes sold in March 2024.
Homes in Victoria are now taking an average of 37 days to sell, a bit longer than the 45 days reported last month but unchanged from a year ago. Pricing remained solid overall. Single-family homes averaged $1,332,588, a modest increase from both last month and last year. Townhomes saw the strongest growth, reaching an average of $910,000—up considerably from $842,710 in February and $829,259 last March. Condo prices dipped slightly to $645,500, though they remain higher than they were a year ago. With inventory climbing to 4.9 months, up from 3.6 in February 2024, Victoria is heading toward a more balanced market, though prices suggest demand is still healthy.