Market Trends and Insights

Victoria real estate myths can mislead both buyers and sellers. As we move into 2026 in Victoria, British Columbia, market conditions have shifted from the frenzy of earlier years. Here, we address common misconceptions with up-to-date data and practical insights. Myth 1: Prices Always Rise A pervasive belief is that real estate prices in Victoria will only go up. While long-term demographic demand and limited land supply support overall value retention, benchmark prices have not consistently climbed in 2025. Data from late 2025 shows single-family home benchmark prices slightly down year-over-year in the Victoria core and sales slowing, even as detached values remain relatively high. This reflects a stable or mildly softening market rather than unchecked price growth. Pricing is now more balanced, influenced by interest rates, inventory levels and buyers’ ability to act. Expect modest movement rather than guaranteed annual increases in 2026. Myth 2: Condominiums Are Always a Bad Investment Another common idea is that condos are poor investments in Victoria. The condo market did experience significant sales declines in 2025, especially compared to detached homes, and some downtown inventory softened. However, benchmark condo prices have shown mild appreciation in late 2025. Market niche, building quality, location and rental demand all matter for investment outcomes. Victoria’s condo segment can still offer opportunities, particularly where rental returns and future demand align with investor goals. Myth 3: You’ll Always Get Multiple Offers The extreme multiple-offer situations of the early 2020s have largely vanished. In balanced conditions, competitive offers occur but are no longer the norm. Accurate pricing, presentation and a strategic listing approach now drive stronger outcomes — not simply list-and-watch offers flood in. Myth 4: Real Estate Agents Aren’t Needed Anymore With abundant online data, some believe professional representation is optional. In a balanced and nuanced market, expert guidance remains critical for pricing strategy, negotiation and risk management — particularly in Victoria where micro-market variations can be significant. Myth 5: Rental Demand Always Sustains Values The link between rental demand and investment value is not automatic. Broader Canadian trends show rents softening into late 2025 and early 2026, which can temper yield expectations for investors. Conclusion Victoria’s real estate landscape in 2026 is defined by stability and balance, not runaway growth or universal downturns. Dispelling myths with current data helps buyers and investors make informed decisions rather than relying on assumptions rooted in past market behaviour.   Raman B., 5-Star Review, via Google “Faber group is a power house team with motivation, drive and a desire to exceed your needs. This family based business excels in the Victoria real estate market and goes to great lengths to find the perfect property that suits you. I would highly recommend them, 5 out of 5 stars!!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

In Victoria's balanced 2026 real estate market, secondary suites offer a smart way to increase property value and attract buyers. These self-contained units provide steady rental income and extra appeal during steady times. Victoria's Housing Market Today The Victoria Real Estate Board reports that 2025 ended with stable sales and pricing. Single-family home values softened slightly in the core while the Westshore saw modest gains. Condo values stayed flat. Higher inventory in 2026 gives buyers more choice and keeps the market balanced with cautious optimism. Strong Rental Income Potential Rental demand remains solid for secondary suites in Victoria for 2026. Greater Victoria's vacancy rate reached 3.3% by late 2025 - the highest in over 25 years - yet demand continues from students, young professionals, and others. One-bedroom secondary suites typically rent for $1,500-$2,000 per month. Two-bedroom suites often reach $2,000-$2,500. This income helps cover mortgage payments, taxes, or utilities and makes ownership more affordable. Added Buyer Appeal Properties with legal secondary suites attract more interest. Buyers value them as: Mortgage helpers that ease financing Flexible space for multi-generational living or home offices Future rental or short-term rental options These features help homes sell faster and often at higher prices, especially when inventory rises. Provincial Support and Regulations British Columbia continues to encourage gentle density. Secondary suites remain allowed province-wide in single-family zones. Local governments must update bylaws by June 30, 2026 under recent legislation. Always verify that any suite meets city rules for size, separate entrance, egress, and parking. Final Thoughts In balanced market conditions, secondary suites deliver reliable income and long-term value. They stand out as a top feature for homeowners, buyers, and investors. If you are searching in Victoria feel free to reach out to our team for the latest listings and guidance. Secondary suites remain one of the strongest choices for smarter homeownership in 2026.   Brandon S., 5-Star Review, via Google “My wife and I sold our condo in View Royal and bought a place in Esquimalt with the help of The Faber Group. Scott helped us to find and buy the perfect home for our growing family in a very competitive market. He got to know our wants and needs and worked within our schedule with a small baby. Once we found the perfect place Scott helped us to get it for under the asking price and sold our condo in one day on the market with multiple offers over asking! We are so grateful that Scott helped us through this process, answering our many questions and alleviating our concerns. Thank you for helping us sell our first home and buy a beautiful house for our family.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Central Saanich is planning for steady, managed growth that supports housing diversity, community services, and sustainable infrastructure. It's recent planning initiatives outline how the district will evolve over the next decade, guided by community input and provincial policy. The focus on future growth in Central Saanich centres on housing supply, village-core development, active transportation, and community amenities. Updated Official Community Plan Sets the Vision In 2023, Central Saanich adopted a new Official Community Plan (OCP) to guide long-term land use and growth. The OCP emphasizes protecting rural and agricultural lands while identifying select areas for gradual multi-unit development to support more housing options and workforce housing. The OCP also underscores climate action, collaboration with First Nations, and an urban containment boundary that directs most growth to established village nodes rather than rural areas. Housing Targets and Supply Expansion Central Saanich has been assigned provincial housing targets as part of British Columbia’s broader plan to increase housing supply. The district has taken steps to diversify its housing stock through updated infill and densification guidelines. A recent housing report shows the district needs to accommodate over 1,100 new units by 2029 to meet demand and provincial targets. Municipal efforts to streamline development approvals and adjust zoning aim to help meet this growth. Strategic Infrastructure and Community Projects Central Saanich’s 2024–2027 Strategic Plan includes investments that align with future growth priorities. This plan earmarks significant funding for active transportation improvements, such as new bike lanes, multi-use pathways, and infrastructure upgrades that support a growing population. One notable community project in planning is the district’s new municipal facilities building on Hovey Road, which will combine municipal hall, policing, fire services and a recreation centre. It is designed to be a community hub and is scheduled to start construction in late 2026. Village Core and Mixed-Use Development Central Saanich is engaging residents on the future of village core sites, including the four-acre municipal hall property on Mt. Newton Cross Road. Council envisions a walkable, mixed-use centre with housing, commercial space, community amenities and green space that supports local needs while maintaining village character. Balancing Growth with Rural Character While planning for future growth in Central Saanich, the district maintains strong protections for agricultural lands and rural areas. With over 60 per cent of land in the Agricultural Land Reserve, housing and commercial development are focused inside designated urban areas to preserve farming and natural spaces. What This Means for Residents and Investors As future growth in Central Saanich unfolds, residents can expect more housing variety, including infill, townhomes and multi-unit developments in established village cores and along key corridors. Investments in active transportation and community facilities will improve connectivity and local services. At the same time, the district’s planning framework aims to balance growth with environmental stewardship and agricultural preservation. For buyers, renters and investors monitoring Central Saanich, understanding changes to zoning, housing targets and community plans early can inform decisions and help identify emerging opportunities. Mark G., 5-Star Review, via Google “One of the best experiences I’ve had with a realtor. . Above all, it seems that i have gained a great relationship and i appreciate that more than feeling like just a transaction.. I will definitely be going back for my next big purchase!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Housing demand around the University of Victoria continues to grow, and new projects are reshaping how students, renters, and homeowners live near campus. Several existing and planned developments near UVic aim to increase housing supply, improve walkability, and support long-term community growth. On-Campus Housing Expansion at UVic UVic has prioritized adding more on-campus housing to address student demand. Recent residence projects have focused on higher-density buildings with modern amenities and strong sustainability standards. These residences help reduce pressure on nearby rental markets by keeping more students on campus. Looking ahead, UVic has announced plans for an additional large-scale student housing project that will add hundreds of new beds for upper-year and graduate students. This future development near UVic is designed to maximize land use while supporting transit access and campus services. University District and Long-Term Planning UVic is also planning a broader mixed-use area known as the University District. This long-term vision includes housing, commercial space, and community amenities on university-owned land near Gordon Head Road. While still in planning stages, this project signals a shift toward a more integrated campus-adjacent neighbourhood. Once complete, the University District could play a major role in expanding housing options near UVic while supporting local businesses and services. Off-Campus Developments Near UVic Several nearby developments are already changing the surrounding neighbourhoods: New rental and condo projects along Shelbourne Street and McKenzie Avenue are increasing density near key transit routes. Purpose-built rental buildings near UVic are providing alternatives to older secondary suites and student rentals. Affordable housing projects led by non-profit and public housing providers are helping diversify the local housing mix. These developments near UVic appeal not only to students but also to professionals, downsizers, and investors seeking proximity to the university and amenities. What This Means for Buyers and Renters As developments near UVic continue, buyers and renters can expect more housing choice over time. Condos and purpose-built rentals may improve affordability compared to older, high-demand rental stock. At the same time, increased density may bring changes to traffic, parking, and neighbourhood character. Checking zoning, development applications, and school catchments early remains important when considering property near the university. Final Thoughts Existing and upcoming developments near UVic reflect a broader push to address housing demand while supporting a growing academic community. For students, homeowners, and investors, these projects signal continued growth and long-term change in one of Victoria’s most sought-after areas. Leanne D, 5-Star Review, via Google “I would highly recommend the Faber Group this is the second time we have used them and have been over the top happy with their service. They are an honest group of men who all go above and beyond to make your experience perfect!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Low-maintenance living has become a growing priority for today’s home buyers. Whether driven by lifestyle changes, aging in place, or a desire for simplicity, more people are choosing homes that reduce upkeep and free up time. This shift is influencing both housing design and buying decisions across many markets. Why Buyers Are Prioritizing Low-Maintenance Living Many buyers want to spend less time on chores and more time on work, travel, family, or hobbies. Larger yards, older systems, and constant repairs no longer appeal to everyone. Instead, buyers are looking for homes that offer convenience, efficiency, and predictability in ongoing costs. Low-maintenance living is especially appealing to downsizers, busy professionals, and retirees. However, it is also gaining traction with younger buyers who value flexibility and a lock-and-leave lifestyle. Popular Low-Maintenance Housing Options Several property types support low-maintenance living. Condos and townhomes remain top choices due to exterior maintenance and landscaping often being handled by strata or homeowners’ associations. Newer builds also attract buyers because they typically include modern materials, updated systems, and energy-efficient features that require fewer repairs. Smaller single-family homes with compact yards are another option. These homes provide privacy without the burden of extensive outdoor maintenance. Design Features That Reduce Upkeep Homes designed for low-maintenance living often include durable flooring, simple landscaping, and energy-efficient windows and appliances. Open floor plans can also reduce cleaning time and make spaces easier to manage. As a result, functionality often takes priority over excess space. How This Trend Is Shaping the Market The demand for low maintenance living is influencing both developers and sellers. Builders are focusing on practical layouts and long-lasting materials, while sellers are highlighting ease of upkeep as a key selling feature. In competitive markets, low-maintenance living can give a property a clear advantage. Is Low Maintenance Living Right for You? Choosing low-maintenance living depends on your priorities and long-term plans. If flexibility, predictable expenses, and reduced responsibility matter to you, this lifestyle may be a strong fit. As housing preferences continue to evolve, low-maintenance living is likely to remain an important trend for buyers at every stage of life.   Demetrios T., 5-Star Review, via Google “Scott and Cal Faber were exceptional to work with. They were professional, patient, and incredibly informative throughout the entire process. They took the time to walk me through every step, which made the typically stressful experience of moving so much easier. Their knowledge of real estate is second to none, and their guidance gave me complete confidence in my decisions. I highly recommend both Scott and Cal to anyone looking for trusted, knowledgeable, and supportive realtors.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

View Royal is experiencing a period of meaningful growth and change as the town responds to regional housing needs, evolving land-use planning, and distinct local priorities. This overview highlights key projects, planning frameworks, and development trends shaping View Royal’s future real estate landscape. Strategic Planning and Growth Framework The Town of View Royal is actively updating its Official Community Plan (OCP) through the View Royal 2050: Our Future View initiative. The updated plan will guide growth over the next two decades and establish policies for land use, housing, transportation, parks, environment, and economic opportunities. Public engagement efforts have gathered resident input on growth, housing needs, and land use scenarios to help inform the updated OCP, which will shape development decisions in the coming years. View Royal 2050 The updated community growth framework will also refine land-use designations in key areas such as the Western Gateway Community Corridor along Island Highway. This corridor is envisioned as an evolving mixed-use area that could support new housing options, improved multimodal connections, and commercial activity. Provincial Housing Targets and Policy Alignment Under the provincial Housing Supply Act, View Royal has been assigned a target to deliver 585 new homes over the next five years. The town is aligning zoning bylaws and development policies to support this direction while balancing environmental protection and community character. Recent progress has exceeded initial targets: provincial reporting indicates View Royal delivered more than double its first-year net-new housing target, reflecting active building and approvals in the town. Major Residential Developments Several notable housing developments are underway or moving through the planning and approval process, demonstrating a shift toward increased density and rental supply in key areas: Island Highway Rental Developments: Progress is underway on new mid-rise rental projects along Island Highway, an area targeted for higher density and mixed-use activity. Among these, an approved development will deliver approximately 238 rental suites across two six-storey buildings between the new fire hall and Prince Robert Drive, offering a range of unit sizes from studios to three-bedroom layouts. 94-Unit Development at 346 Island Highway: Plans submitted by GT Mann Contracting propose a 94-unit project at the western end of the former Fort Victoria RV Park site, including underground parking and resident amenities. The Grand and Fir Condominiums: A five-storey condominium project with 82 units known as The Grand and Fir is nearing completion, with move-in availability targeted for 2025, supporting both lifestyle demand and compact housing options. Large-Scale Rental Community Opposite Victoria General Hospital: A 336-unit purpose-built rental community has begun construction near Victoria General Hospital, representing one of the largest rental projects in the town to date and contributing significantly to rental housing supply. These projects signify a diversification of housing types, including condominiums, purpose-built rentals, and mixed-unit buildings, all contributing to View Royal’s broader growth objectives. Local Engagement and Infrastructure Planning Alongside housing projects, View Royal is progressing several infrastructure and community improvement initiatives that will support growth and quality of life. These include transportation master plan updates, pedestrian improvements along key corridors, and upgrades to utilities and park spaces. Balancing Growth with Community Character As View Royal grows, municipal planning emphasizes maintaining the town’s natural beauty and neighbourhood feel while accommodating new housing and mixed-use development. The OCP update process reflects careful consideration of resident values around growth, transportation, environmental stewardship, and local identity. Conclusion View Royal is transitioning from a primarily low-density suburb to a more diversified community that supports a broader range of housing options, including rental communities and multi-unit residential projects. Strategic planning through the View Royal 2050 process, alignment with provincial housing targets, and active development along key corridors are key drivers of this evolution. For buyers, sellers, and investors, these trends indicate a community positioning itself for sustainable growth while preserving its distinct character. Troy W., 5-Star Review, via Google “We moved to Victoria from Halifax. As our Realtor, Scott helped us find the right house in the right neighborhood for the right price. He was patient as we traveled from the east to look at homes over several months and cautioned us about making unreasonable offers when we fell too quickly for overpriced homes. In short, he was always on our side working to make our house purchase as simple and successful as possible. The best part about working with Scott was that he was always more focused on answering our questions, giving us good advice, and finding homes that met our needs than he was on closing a deal. We would recommend him to anyone. 5 Star service Scott, we look forward to using you again very shortly for an income rental in the new year. ” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Across Canada multi‑generational living is becoming more than just a trend. Families are increasingly choosing homes that can accommodate multiple generations under one roof or on one property. This shift reflects both economic realities and evolving lifestyle preferences. What Is a Multi‑Generational Home? A multi‑generational home is a residence where two or more adult generations, such as grandparents, parents, and children  live together. This arrangement can take the form of a single large dwelling, a main house with a secondary suite, or adjacent units like a laneway home or coach house, offering both shared and private spaces. Growing Numbers Across Canada Multigenerational households are among the fastest‑growing household types in Canada. According to census data, the number of multi‑generational households has risen significantly over recent decades, growing faster than other household types and reflecting an increase in families choosing to share living space.  Why the Trend Is Taking Hold Several key factors are driving the rise of multi‑generational homes in Greater Victoria and beyond: Affordability and Shared Costs High home prices and rising costs in Greater Victoria make homeownership a challenge for many families, particularly younger buyers. Multi‑generational living allows families to pool financial resources, share mortgage costs, and spread living expenses across more adults. This shared approach can make it easier to own a quality home in the region. Supportive Family Networks Living together can strengthen family support systems. Grandparents can help with childcare, while adult children can assist aging parents. This arrangement can reduce the cost of external services like daycare or long‑term care and foster deeper family connections. Flexible Home Design and Zoning Changes British Columbia has introduced legislative changes that make it easier for municipalities to allow secondary suites, laneway homes, and other small‑scale multi‑unit housing on single‑family lots, supporting families seeking flexible living spaces. Cultural and Lifestyle Preferences Multi‑generational living is common in many cultures and offers social and emotional benefits. Families value the opportunity to maintain close bonds while having private areas within the home, a balance between independence and togetherness. What This Means for Greater Victoria’s Real Estate The demand for multi‑generational homes is influencing both renovations and new construction in the region: Renovations and Secondary Suites: Homeowners are increasingly renovating to add in‑law suites, separate entrances, and flexible living spaces that accommodate extended family members.  Laneway and Backyard Homes: Property owners are exploring laneway or coach homes on their lots, creating nearby living space for adult children or older parents while maintaining a degree of independence.  Larger Family Homes: Properties with additional bedrooms, separate living areas, or adaptable floor plans often attract multi‑generational buyers, which can influence pricing and demand in certain segments of the market.  Looking Ahead As housing costs and family dynamics continue to shape how people live, multi‑generational homes are likely to remain a meaningful part of the Greater Victoria real estate landscape. Whether driven by financial strategy, caregiving needs, or a desire for close family connections, this trend supports diverse housing needs and reflects how families are adapting to today’s market conditions. If you are considering purchasing, renovating, or designing a home for multi‑generational living, consulting with a local real estate professional can help you understand options that meet your family’s needs and maximize long‑term comfort and investment value.   Shandy B., 5-Star Review, via Google “Cal and Scott are exceptional realtors. We sold our beloved home with their help. They helped us price competitively and fairly, leading to a fast house sale in a slower market, as well as receiving more than we had hoped for the sale of our home. They were accommodating and respectful of our family needs, and helped us show our home in the best way possible. We felt like a priority every step of the way. The are honest and trustworthy! All the stars for the Faber group” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

As we move into 2026, Greater Victoria’s real estate market is expected to shift into a more balanced and predictable phase. After several years of rapid change driven by interest rates, inventory constraints, and economic uncertainty, the coming year is shaping up to favour informed buyers and well-prepared sellers. Here is what homeowners and buyers should know heading into 2026. Market Conditions Are Expected to Stabilize   Greater Victoria is anticipated to see a steadier market in 2026, with moderate price movement rather than sharp increases or declines. Buyer confidence is expected to improve as interest rates stabilize, encouraging more activity without the urgency seen in past boom cycles. This shift supports healthier negotiations and more balanced conditions across most property types. Price Growth Likely to Be Modest and Localized   Overall price growth in 2026 is expected to remain modest, with performance varying by neighbourhood and housing type. Well-located single-family homes and townhomes with functional layouts are likely to remain in strong demand, while condominiums may experience more price sensitivity depending on strata fees, building age, and amenities. Inventory Levels Should Gradually Improve   One of the biggest constraints in recent years has been limited housing supply. In 2026, inventory is expected to increase gradually as more homeowners feel comfortable listing. This will provide buyers with more choice while reducing extreme competition. However, desirable properties that are priced correctly are still expected to sell efficiently. Buyer Demand Will Continue to Be Driven by Lifestyle   Greater Victoria’s lifestyle appeal continues to attract buyers from across British Columbia and other parts of Canada. Proximity to nature, walkable communities, and access to amenities remain top priorities. Homes that offer energy efficiency, flexible living spaces, and outdoor areas are expected to perform well in 2026. Sellers Will Need a Strategic Approach   Unlike past years where nearly any listing attracted attention, 2026 will reward sellers who price realistically and invest in presentation. Staging, professional photography, and clear disclosure will matter more as buyers become selective. Overpricing may lead to longer days on market and price adjustments. What This Means for Buyers and Sellers   For buyers, 2026 may present better opportunities to negotiate, particularly in segments with increased inventory. For sellers, understanding micro-market trends by neighbourhood and property type will be essential to achieving top value. Working with a local expert who understands these nuances will be more important than ever. Looking Ahead   Greater Victoria’s real estate market remains fundamentally strong, supported by limited land supply, consistent demand, and long-term population growth. While the pace may slow compared to peak years, 2026 is shaping up to be a year of opportunity for those who plan ahead and stay informed. If you are considering buying or selling in 2026, understanding how these trends apply to your specific situation can make a significant difference. James C., 5-Star Review, via Google “Scott made the process of finding a good condo in Victoria as simple and straightforward as it can be. He was always very helpful, and quick to respond throughout the process from start to finish. Being new to BC I think the ordeal would have been pretty overwhelming otherwise. I'd definitely recommend Scott and his team to others in the future.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood & Zachary Parsons “Building Lasting Relationships, One Home at a Time.”

Days on Market, often referred to as DOM, measures how many days a property is listed for sale before it sells. The count typically starts on the day the listing becomes active and ends when an accepted offer is in place. For sellers, Days on Market is more than just a number. It is one of the most closely watched indicators of market performance and buyer demand in Greater Victoria. Why Days on Market Matters to Sellers Days on Market directly affects how buyers perceive your home. Properties that sell quickly are often seen as well-priced and desirable. Listings that remain on the market longer can raise questions, even if the home itself is well-maintained. Buyers may assume: The price is too high The home has issues The seller may be more flexible This perception can influence both the number of showings and the strength of offers received. How Days on Market Impacts Pricing Strategy Pricing and Days on Market are closely connected. Homes priced correctly for current market conditions tend to attract interest early, often within the first few weeks. When a listing stays on the market longer than average, sellers may face: Fewer showings Lower offers Pressure to reduce the price In contrast, a well-priced home that generates early activity can create urgency and stronger negotiating positions. Average Days on Market in Greater Victoria Days on Market can vary widely depending on location, property type, and market conditions. Single-family homes, condos, and townhomes often perform differently, and some neighbourhoods move faster than others. For example: Entry-level homes often sell more quickly Well-priced homes in high-demand areas attract faster offers Unique or higher-priced properties may take longer Understanding local averages is essential when setting expectations and strategy. What Longer Days on Market Can Signal A higher Days on Market number does not always mean a home will not sell. However, it can indicate a mismatch between price, condition, or buyer expectations. Common reasons a listing lingers include: Pricing above market value Limited exposure or poor presentation Market shifts during the listing period Addressing these factors early can help reset buyer interest. How Sellers Can Reduce Days on Market Sellers have more control over Days on Market than they may realize. Preparation and strategy play a key role. Steps that often help reduce Days on Market include: Pricing based on current comparable sales Professional photography and marketing Proper staging and presentation Flexible showing availability Working with an agent who understands neighbourhood-level data can make a meaningful difference. Final Thoughts Understanding Days on Market and why it matters allows sellers to make informed decisions and set realistic expectations. In Greater Victoria’s evolving real estate market, success is not just about selling, but about selling efficiently and at the right price. A thoughtful pricing and marketing strategy, paired with local market insight, can help minimize Days on Market and maximize results. Brandon Sharratt, 5-Star Review, via Google “My wife and I sold our condo in View Royal and bought a place in Esquimalt with the help of The Faber Group. Scott helped us to find and buy the perfect home for our growing family in a very competitive market. He got to know our wants and needs and worked within our schedule with a small baby. Once we found the perfect place Scott helped us to get it for under the asking price and sold our condo in one day on the market with multiple offers over asking! We are so grateful that Scott helped us through this process, answering our many questions and alleviating our concerns. Thank you for helping us sell our first home and buy a beautiful house for our family.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood & Zachary Parsons “Building Lasting Relationships, One Home at a Time.”

Monthly real estate headlines often focus on average prices or sales counts, but those numbers rarely tell the full story. When we look more closely at the Victoria Core vs Westshore real estate market, clear differences emerge in pricing, buyer behaviour, and overall momentum. November’s single-family home statistics highlight why understanding sub-markets matters more than ever for both buyers and sellers. Sales Activity: Two Markets Moving at Different Speeds In November, the Victoria Core continued to show steady but cautious activity. Single-family home sales remained consistent, supported by limited inventory and ongoing demand for established neighbourhoods close to downtown, schools, and employment centers. Buyers in this area tend to be move-up purchasers and long-term homeowners who are less sensitive to short-term rate fluctuations. The Westshore, by contrast, saw stronger sales momentum. Communities such as Langford, Colwood, and Sooke benefited from relative affordability and a growing supply of newer homes. First-time buyers and young families were more active here, particularly in neighbourhoods offering newer construction and flexible floor plans. Pricing Trends: Stability vs Opportunity Single-family home prices in the Victoria Core remained relatively stable through November. Limited supply continues to support values, even as buyers take more time to make decisions. Well located homes that are priced appropriately and presented well are still selling, but unrealistic pricing is being met with resistance. The Westshore continues to offer more pricing flexibility. While prices have increased over the long term, November data shows that buyers still have opportunities, particularly in areas with higher inventory levels. Sellers who understand current market conditions and price strategically are seeing solid results, while overpriced listings are taking longer to sell. Days on Market and Buyer Behaviour Days on market remain shorter in the Victoria Core compared to the Westshore, reflecting the ongoing demand for central locations. Buyers here are selective, often focusing on homes that require minimal work or offer unique lot value. In the Westshore, average days on market are slightly longer, giving buyers more negotiating power. Conditions, financing terms, and inspection clauses are more common, which is a notable shift from the peak market years. This environment rewards well-prepared sellers who address deferred maintenance and present homes clearly. Inventory Levels and What They Signal Inventory in the Victoria Core remains constrained, particularly for detached homes under common price thresholds. This continues to limit choice for buyers but supports price stability for sellers. The Westshore has seen a healthier level of new listings, especially in newer subdivisions. This added selection is helping balance the market and reduce pressure on buyers, while still maintaining steady overall activity. What This Means for Buyers and Sellers For buyers, November’s data reinforces the importance of location specific strategy. The Victoria Core requires decisiveness and preparation, while the Westshore allows for more comparison shopping and negotiation. For sellers, understanding your micro market is critical. A pricing strategy that works in Fairfield or Oak Bay may not translate directly to Langford or Colwood. Tailoring your approach to local conditions is key to achieving strong results.