Posts Tagged ‘balanced market Victoria BC’

Drainage and moisture in Victoria homes should be part of every buyer’s due diligence. A home may look warm, updated, and well-kept during a showing, but water management tells a deeper story about how the property performs through the wet season. Victoria is known for a milder climate, but rain still matters. The City of Victoria explains that stormwater systems collect runoff from hard surfaces like roads and roofs and move it away from homes and businesses to help prevent flooding. That simple idea applies at the property level too: water needs somewhere reliable to go. (victoria.ca) Why Drainage Matters So Much Water is one of the most important things to understand before buying a home. Poor drainage can affect: Foundations Basements Crawlspaces Siding Decks and balconies Landscaping Retaining walls Driveways Interior air quality Long-term maintenance costs A home does not need to be perfect, but buyers should understand how water moves around the property. The goal is to know whether the home is managing moisture well or whether there are signs of future risk. Victoria Homes Can Have Unique Moisture Considerations Greater Victoria has a wide range of housing types and land conditions. Buyers may be comparing older character homes, hillside properties, strata complexes, rural homes, low-lying lots, newer builds, and homes with crawlspaces or basement suites. Each type can carry different drainage questions. For example: Older homes may have aging perimeter drains Homes on slopes may receive water from uphill properties Low-lying lots may hold water longer after rain Crawlspaces may show signs of dampness or poor ventilation Basement suites may be more vulnerable if drainage is weak Retaining walls may suggest grading or water-pressure issues Strata properties may rely on shared drainage systems and maintenance planning This is why two homes in the same price range can carry very different long-term risk. Start Outside the Home Good drainage usually begins outside. During a showing, buyers should look at how the land slopes, where downspouts discharge, and whether water appears to be directed away from the foundation. Practical things to look for include: Gutters that are clean and properly connected Downspouts that discharge away from the home Soil or hardscaping sloped away from the foundation Low spots where water may pool Moss or staining near exterior walls Cracks in walkways or patios Retaining walls that lean or show staining Soft or soggy areas in the yard Drain grates, catch basins, or sump systems Evidence of past drainage work A buyer does not need to diagnose the issue during the showing. They just need to notice what deserves further review. Check Basements and Crawlspaces Carefully Basements and crawlspaces often reveal moisture concerns before the main living areas do. Buyers should pay attention to: Musty smells Staining on concrete or framing Efflorescence on foundation walls Standing water Damp insulation Rust on metal components Soft subfloor areas Dehumidifiers running constantly Fresh paint that may be covering old staining Stored items lifted off the floor Some moisture signs may be minor or manageable. Others may point to larger drainage, ventilation, or foundation concerns. A home inspection is especially important when a property has a crawlspace, basement suite, below-grade living area, or signs of past water entry. Roofs, Gutters, and Downspouts Matter Drainage is not only about the ground. Roof water can create major problems if it is not managed properly. Buyers should look at: Roof age and condition Missing or damaged shingles Clogged gutters Leaking gutter joints Short downspout extensions Water dumping near the foundation Overflow marks on siding Fascia or soffit staining Moss buildup Poor roof drainage on flat or low-slope sections A functioning roof and gutter system helps move water away from the home before it becomes a foundation or interior moisture issue. Moisture Can Affect More Than Repairs Drainage and moisture problems are not just about repair bills. They can affect how a home feels and functions. Moisture may contribute to: Odours Mold concerns Poor indoor air quality Damage to finishes Rot in structural components Pest issues Insurance questions Resale hesitation Future renovation limits Even when a buyer is comfortable taking on some work, they should understand the size and urgency of the issue before removing conditions. Ask the Right Questions When drainage or moisture concerns appear, buyers should ask direct questions. Useful questions include: Have the perimeter drains been replaced or repaired? When were the gutters and roof last maintained? Has there ever been water entry? Are there receipts or records for drainage work? Is there a sump pump, and how often does it run? Has the basement or crawlspace been professionally assessed? Does water pool anywhere on the property after heavy rain? Are there known issues with neighbouring runoff? Have any insurance claims been made for water damage? Are there strata minutes discussing drainage, leaks, or building-envelope concerns? For strata properties, drainage and moisture concerns may appear in meeting minutes, engineering reports, depreciation reports, or insurance documentation. Use the Inspection Period Wisely A general home inspection can identify visible signs of moisture, but buyers may need further review if something raises concern. Depending on the property, that may include: Drainage contractor review Perimeter drain scope Roof inspection Foundation assessment Sewer or storm line inspection Building envelope review Mold or indoor air quality assessment Strata document review Engineering advice for retaining walls or slopes The right level of due diligence depends on the age, condition, and complexity of the property. Do Not Panic Over Every Moisture Sign Moisture concerns should be taken seriously, but they should not automatically end the purchase. Some issues are routine maintenance. Others are manageable with proper repairs. A clogged gutter is different from chronic basement water entry. Poor downspout placement is different from foundation movement. The key is to separate small maintenance items from larger risk. Buyers should focus on: Cause Cost Urgency Repair history Professional advice Impact on future resale Whether the issue fits their budget and comfort level Clarity matters more than fear. The Bottom Line for Buyers Drainage and moisture in Victoria homes matter because water issues can affect comfort, maintenance, insurance, resale, and long-term ownership costs. A home may look excellent on the surface, but buyers should understand how it handles rain, runoff, and seasonal moisture. Before buying, look outside, check lower levels carefully, ask about past water issues, review documents, and use the inspection period to get the right professional advice. For buyers in Greater Victoria, strong due diligence is not about finding a perfect home. It is about understanding the home clearly before making a long-term decision. For advice on buying a home in Greater Victoria and reviewing property condition before subject removal, contact Faber Real Estate Group for clear, local guidance before making your next move.     Lou N., 5-Star Review, via Google “Scott is a knowledgeable, professional, dedicated and thorough expert in his field. Excellent at what he does and we couldn't have found a better realtor to guide us through one of the most important decisions in our lives.” 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.”

Active listings in Greater Victoria are an important number to watch, but they do not tell the whole story on their own. Active listings in Greater Victoria show how much choice buyers have at a specific point in time, but they do not explain how quickly homes are selling, which price ranges are moving, or how different neighbourhoods are behaving. That matters because real estate headlines often focus on one number. Inventory is up. Sales are down. Prices are steady. Buyers have more choice. Sellers have more competition. Each statement may be true, but none of them gives the full picture by itself. More Listings Do Not Always Mean a Weak Market At the end of April 2026, the Victoria Real Estate Board reported 3,710 active listings for sale on the MLS, up 13.8% from March and 8.3% from April 2025. VREB also reported 643 property sales in April 2026, almost unchanged from April 2025 and up 11.1% from March. That combination matters. More listings can mean buyers have more choice. It can also mean sellers feel more competition. However, if sales remain steady, the market may still be balanced rather than weak. This is why inventory needs context. A market with more listings and weak demand feels very different from a market with more listings and steady buyer activity. The Type of Inventory Matters Not all listings compete with each other. A downtown condo is not competing with a Saanich family home in the same way. A Langford townhome may attract a different buyer than a waterfront property in Cordova Bay. A renovated home priced well may receive strong interest, while a similar property with deferred maintenance may sit longer. Buyers and sellers need to look beyond the total inventory number and ask: What type of homes are available? Which price ranges have the most competition? How much of the inventory is well-priced? How much of it needs major updates? Are buyers active in this specific segment? Are similar homes selling, or just sitting? A higher number of listings does not automatically mean buyers have more good options. Sometimes it means they have more to sort through. Sales Activity Tells You Whether Buyers Are Responding Active listings show supply. Sales show demand. When inventory rises but sales also remain active, it often points to a more balanced market. Buyers have more time to compare, but strong properties can still sell. Sellers may need to be more careful with pricing and presentation, but they are not necessarily in a distressed position. VREB described the April 2026 Greater Victoria market as balanced, with strong inventory and a wide range of properties at different price points. VREB also noted that market experience can vary depending on location and property type because Greater Victoria is made up of many micro-markets. That last point is key. The overall market may be balanced, while one neighbourhood feels competitive and another feels slower. Price Does Not Move the Same Way Everywhere Inventory levels can influence prices, but they do not control prices on their own. In April 2026, the MLS Home Price Index benchmark value for a single-family home in the Victoria Core was $1,339,100, down 1.2% from April 2025 but up from March 2026. The condo benchmark value in the Victoria Core was $558,300, down 0.8% from April 2025 but also up from March. This shows why simple market narratives can mislead people. A buyer may hear that inventory is up and expect major discounts. A seller may hear that prices are stable and assume their home can be priced aggressively. Both can be wrong. Pricing depends on condition, location, property type, buyer demand, competing listings, and recent comparable sales. Days on Market and Price Reductions Add More Clarity Active listings tell you what is available today. They do not show the full behaviour behind the market. To understand what is really happening, buyers and sellers should also look at: Days on market Recent sale prices List-to-sale price ratios Price reductions New listings coming on Expired or cancelled listings Competing inventory by neighbourhood Showing activity Offer activity These details help explain whether listings are building because homes are overpriced, because more sellers are entering the market, or because buyers are taking longer to decide. That distinction matters. What This Means for Buyers For buyers, more active listings can create better choice and less pressure. It may also create more confusion. When there are more options, it becomes easier to compare homes but harder to decide. Buyers may hesitate, hoping something better will appear. That can be reasonable in some segments, but risky in others. A strong buyer strategy should focus on: Knowing which neighbourhoods fit your lifestyle Comparing property condition carefully Watching how long similar homes are taking to sell Understanding whether the list price reflects current market reality Staying ready when a well-priced home appears More inventory gives buyers breathing room, but it does not remove the need for preparation. What This Means for Sellers For sellers, more active listings usually means presentation and pricing matter more. When buyers have more choice, they compare more carefully. They notice condition, layout, updates, maintenance, location, and price. A listing that may have stood out in a lower-inventory market may need stronger positioning when similar homes are available. Sellers should pay close attention to: How their home compares to active competition Whether recent sales support the asking price How buyers are responding after showings Whether the first two weeks generate enough interest Which improvements may improve buyer confidence Whether the marketing clearly explains the home’s value In a balanced market, sellers can still do well. They just need to compete on value, not assumption. The Better Question Is Not Just “How Many Listings Are There?” The better question is: what do the listings mean? Active listings are useful, but they are only one part of the market story. The number becomes more meaningful when paired with sales activity, buyer demand, pricing trends, property type, condition, and neighbourhood-level competition. For buyers, the goal is not just to find more homes. It is to find the right home at the right value. For sellers, the goal is not just to list in a market with activity. It is to position the home clearly within the choices buyers already have. If you are trying to understand what today’s inventory means for your next move, contact Faber Real Estate Group for local advice, current market insight, and a strategy based on your specific neighbourhood, price range, and goals. Michael F., 5-Star Review, via Google “If you want the best in town, stop your search – you've found them here in Cal and Scott Faber. We couldn't be happier with the results and highly recommend them to anyone in need of top-notch real estate services. Professional, patient, and caring results guaranteed.” Faber Real Estate GroupRoyal LePage Coast Capital Realty📞 250-244-3430📧 [email protected]ℹ️ Scott Faber Personal Real Estate Corporationℹ️ Cal Faber Personal Real Estate CorporationVanessa Wood, Zachary Parsons, and Sophie Taylor“Building Lasting Relationships, One Home at a Time.”

The $800K to $1M range feels competitive in Greater Victoria because it attracts several buyer groups at once. First-time buyers stretching their budget, move-up buyers looking for more space, downsizers wanting comfort, and investors watching long-term value can all end up looking at similar properties. That does not mean every home in this price range receives multiple offers. It means the best homes often attract focused attention quickly, especially when they are well priced, well located, and easy to move into. Why This Price Range Matters In Greater Victoria, the $800K to $1M range can represent very different options depending on the neighbourhood. In some areas, it may mean a larger condo or townhome. In others, it may open the door to an older detached home, a smaller family home, or a property that needs updates. This is why buyers in this price range often feel like they are comparing very different trade-offs. They may be asking: Do we choose location or more space? Do we buy newer and smaller, or older with more potential? Should we stay closer to Victoria, or look further into the Westshore? Is it better to accept renovation work, or pay more for move-in-ready condition? Those questions create competition because many buyers are trying to solve the same affordability problem in different ways. More Inventory Does Not Mean Every Home Is Easy to Buy Greater Victoria has offered buyers more choice recently, but that does not remove competition from every segment. A balanced market can still feel competitive when many buyers focus on the same price band. This is especially true for homes that check the most common boxes. Buyers tend to respond quickly when a home offers a good layout, practical parking, manageable maintenance, strong location, outdoor space, and a price that feels fair compared to recent sales. That type of property is easier to understand. It also feels easier to justify. The Best Homes Still Stand Out Buyers today are more selective, but they are not inactive. When a home feels fairly priced and does not require a long list of compromises, it can still move quickly. In the $800K to $1M range, competition often comes down to quality. A home with good presentation, a functional floor plan, and fewer obvious future costs can stand out against properties that feel dated, awkward, or overpriced. This explains why some listings sit while others receive strong interest right away. The market is not treating every property the same. Detached Homes Create Extra Pressure For many buyers, this price range is where detached home ownership may still feel possible in parts of Greater Victoria. That makes the segment more emotional and more competitive. A buyer may not be comparing one detached home to another. They may be comparing several different lifestyles at once. Common options include: A detached home farther from town A townhome in a more central location A larger condo with lower maintenance An older home with renovation potential A newer home with less outdoor space When detached inventory appears in this price range, buyers often look closely. There may not be many options that fit both their budget and lifestyle goals. Townhomes Can Be Just as Competitive Townhomes in this range often appeal to a wide group of buyers. They can offer more space than a condo, less upkeep than a detached home, and a layout that works for families, downsizers, and professionals. That broad appeal creates demand. A well-located townhome with parking, storage, outdoor space, and reasonable strata fees can attract buyers from several directions. Some may be priced out of detached homes. Others may prefer lower maintenance without giving up too much space. This overlap is one reason the $800K to $1M range can feel tighter than the overall market suggests. Buyers Are Competing on Certainty, Not Just Price In a competitive segment, the highest offer does not always win by price alone. Sellers also look at confidence, timing, conditions, deposit strength, and how clean the offer is. That does not mean buyers should waive important protections without understanding the risk. It means preparation matters. Before writing an offer, buyers should be clear on: Financing comfort Deposit availability Inspection strategy Subject removal timeline Recent comparable sales The property’s likely resale appeal What they are willing to compromise on Strong preparation helps buyers move with confidence instead of reacting under pressure. Sellers Still Need to Be Careful For sellers, the $800K to $1M range can be a strong segment, but success is not automatic. Buyers have more information, more listings to compare, and less patience for ambitious pricing. A seller who assumes competition will solve everything can miss the mark. Presentation, pricing, and condition still matter. The strongest results often come from making the home easy to understand, easy to view, and easy to compare against recent sales. When buyers can quickly see the value, they are more likely to act. The Bottom Line The $800K to $1M range feels competitive because it captures many of the most practical buyer needs in Greater Victoria. It is where lifestyle, affordability, space, and long-term value often meet. For buyers, the key is preparation. For sellers, the key is positioning. In both cases, success comes from understanding the micro-market, not relying on broad headlines. If you are buying or selling in this price range, contact Faber Real Estate Group for advice on pricing, strategy, and how to make confident decisions in the Greater Victoria market.   Justine D., 5-Star Review, via Google “Cal and Scott treated us like family. We had only 5 days to find a home and Cal cleared his schedule to make himself available to us. Cal guided us in the purchase of our home, as if we were a member of his family asking for advice. I knew we could trust Cal. His service to us did not stop with the purchase of our home…he helped us find trades people and provided information about rental incomes in the area. We were new to the Island and I honestly felt that Cal adopted us and has made sure we had everything we needed. We did not just gain a realtor, but a friend. If you are looking for a realtor you can TRUST, and will look out for YOUR interests— then Cal and Scott are IT!!! I would recommend them to anyone looking to buy a home on the Island. I should also mention that Cal negotiated an amazing price on the purchase of our home and made sure if something was not right when we took possession that it would be taken care of. Cal and Scott and realtors with integrity and kindness..” 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.”

The May 2026 Victoria real estate market is likely to feel active, balanced, and competitive in selective pockets. April gave us a useful preview: sales improved from March, inventory continued to rise, and prices remained relatively steady. That combination usually creates a market where buyers have more choice, but sellers still have opportunity if they are priced properly from day one. According to the Victoria Real Estate Board, 643 properties sold in April 2026, which was 0.2% higher than April 2025 and 11.1% higher than March 2026. Active listings reached 3,710 at the end of April, up 13.8% from March and 8.3% from April 2025. In plain terms, more homes are available, but buyers are still participating. May Should Continue to Give Buyers More Choice May is typically one of the more active months of the spring market. Based on April’s increase in active listings, buyers should expect more selection across many property types and price points. That does not mean every listing will be a deal. It means buyers may have more room to compare homes, review options, and make decisions with less pressure than they would in a tight seller’s market. For buyers, May may bring: More new listings coming to market More ability to compare similar homes Less urgency on some properties Continued competition for well-priced homes in desirable locations More negotiating room on listings that are overpriced, dated, or sitting longer The key is not simply finding the lowest price. The better strategy is finding the right combination of location, condition, price, and long-term fit. Sellers Should Expect More Competition For sellers, May will likely be less forgiving than past spring markets where limited inventory did much of the work. With more active listings available, buyers have options. That means sellers need to be realistic about pricing, presentation, and timing. A home can still sell well in this type of market, but it needs a clear strategy. In May, sellers should pay close attention to: How many competing listings are active nearby How quickly similar homes are selling Whether buyers are booking showings early Feedback after the first week on market Price adjustments from competing sellers The first two weeks matter. If a listing launches too high, buyers may wait, compare, or move on to a better-positioned property. Prices Are Likely to Stay Relatively Stable The April benchmark numbers suggest stability rather than a sharp move in either direction. The Victoria Core single family benchmark price was $1,339,100 in April 2026, down 1.2% from April 2025 but up from March. The Victoria Core condo benchmark was $558,300, down 0.8% year over year but also up from March. That pattern matters. Prices are not surging, but they are also not falling dramatically across the board. May will likely continue that trend, with stronger pricing for homes that show well and more pressure on listings that feel overpriced compared with the rest of the market. The Market Will Feel Different by Neighbourhood May will not feel the same everywhere in Greater Victoria. A well-priced family home in Saanich may attract strong attention, while a dated condo with high strata fees may move more slowly. A townhome in the Westshore may compete differently than a character home in Fairfield or a new construction condo in Langford. This is why broad market headlines can be misleading. The real story in May will come down to micro-markets. Buyers and sellers should look closely at: Property type Neighbourhood Price range Days on market Condition Strata health, if applicable Recent comparable sales The overall market may be balanced, but each segment can behave differently. What Buyers Should Do in May Buyers should use May’s inventory carefully. More choice is helpful, but it can also create second-guessing. A practical approach is to separate homes into three categories: Strong fit: good location, fair price, solid condition Possible fit: good potential, but with tradeoffs Poor fit: too much compromise for the price This helps buyers stay focused. It also makes it easier to act when the right home appears. Buyers should also be ready before viewing homes. That means having financing reviewed, understanding closing costs, and knowing which conditions matter most before writing an offer. What Sellers Should Do in May Sellers should treat May as a strategy market, not a guessing market. The best results will likely come from homes that are: Priced against current competition Clean, prepared, and easy to show Marketed with strong photos and clear positioning Adjusted quickly if feedback shows resistance Presented with confidence, but not overconfidence In a market with more inventory, buyers notice the details. Small issues can create hesitation, especially when they have other homes to compare. The Bottom Line The May 2026 Victoria real estate market should remain balanced, active, and choice-driven. Buyers may have more room to think, but strong properties will still move. Sellers may still achieve good results, but only if their pricing and presentation match current market conditions. May will reward preparation on both sides. Buyers should be ready to act when value appears. Sellers should be ready to compete from the first day on market. If you are planning to buy or sell in Greater Victoria this spring, reach out to Faber Real Estate Group for advice based on your neighbourhood, property type, and timing.   Debbie N., 5-Star Review, via Google “From start to finish, Scott and Cal were amazing to work with. I hadn't moved in nearly 22 years and going from a house to a condo was a very difficult decision, but they were amazingly patient and responsive to my needs. This team doesn't just say that they care, they actually do. I couldn't have done this without them. I would recommend them to anyone. You will be in the best hands. Thank you Faber Group!!!” Faber Real Estate GroupRoyal LePage Coast Capital Realty📞 250-244-3430📧 [email protected]ℹ️ Scott Faber Personal Real Estate Corporationℹ️ Cal Faber Personal Real Estate CorporationVanessa Wood, Zachary Parsons, and Sophie Taylor“Building Lasting Relationships, One Home at a Time.”

If you are wondering whether to relist or wait if your home is not selling, you are not alone. In today’s Greater Victoria market, many sellers are asking whether they should relist or wait if your home is not selling after showings slow down, feedback turns vague, or the listing simply sits. The real answer is that neither option fixes the problem on its own. In most cases, the issue is not the listing date. It is the strategy behind the listing. That matters even more in the current market. The Victoria Real Estate Board reported 579 sales in March 2026, down 5.5% from March 2025, while active listings rose to 3,261, up 7.9% year over year. VREB also described current conditions as a market with good supply and reasonable demand, which means buyers have options and sellers face more competition. The Real Problem Usually Is Not Time When a home does not sell, sellers often blame the clock. They think: maybe we need to take it off the market maybe buyers are ignoring it because it has been listed too long maybe a fresh MLS number will solve it Sometimes a relist can help at the margins. Most of the time, though, it does not change the reason buyers passed in the first place. A home usually sits for one of five reasons: the price does not match current buyer expectations the presentation is not strong enough online the property is reaching the wrong audience the condition or showing experience creates hesitation the seller’s expectations have not adjusted to current competition In a market with more inventory, buyers compare harder, hesitate longer, and negotiate more confidently. VREB’s March 2026 update said both sales and listings increased from the previous month in a typical spring pattern, but inventory remains elevated. That means a listing has to feel well-positioned, not just available. When Relisting Can Make Sense Relisting can be the right move, but only when something meaningful has changed. That could include: a clear price correction new photos or much better marketing repairs, staging, or decluttering that change buyer perception a different launch strategy a shift in market timing after a quieter period In other words, relisting works best when it reflects a new offer to the market, not just a new start date. A relist without a real change often backfires. Buyers may still recognize the property, especially in neighbourhoods where they are watching closely. If the same home comes back with the same price, same presentation, and same issues, the market usually reads that as a seller trying to reset the optics rather than improve the value. When Waiting Might Make Sense Waiting can make sense too, but only for the right reason. It may be worth pausing if: you know you are entering a better seasonal window for your property type you need time to improve condition or presentation there is a personal timing reason that makes selling now too rushed your next move depends on better preparation, not blind patience What usually does not work is waiting in the hope that buyers will suddenly become less selective. Right now, Greater Victoria is not suffering from a lack of choice. Active listings were up 12.3% from February to March 2026 and up 7.9% year over year, giving buyers more selection. In that kind of environment, a seller who waits without improving strategy can come back to the market facing the same challenge again. What a Sitting Listing Is Actually Telling You A listing that is sitting is feedback. Not emotional feedback. Market feedback. Here is how to read it: No showings This often points to price, photos, headline appeal, or early online presentation. Buyers are screening you out before they ever visit. Showings but no offers This usually means the home is creating interest but not confidence. The issue may be layout, condition, odour, light, deferred maintenance, or value relative to competing homes. Offers far below expectations This often means the market sees the home differently than the seller does. It can also mean buyers are building in room for updates, risk, or soft demand. Positive comments but no action This is one of the clearest signs the home is not winning the comparison test. Buyers may like it, but they do not like it enough at that price. A Better Question Than “Relist or Wait?” The smarter question is this: What needs to change for the next buyer to say yes? That shift matters. Because once you ask that, the plan becomes more practical: review competing active listings, not just past solds assess whether the current price still makes sense evaluate photos, copy, floor plan flow, and first impression study buyer feedback for patterns decide whether the home needs repositioning, not just more time This is especially important in a market where benchmark values have been relatively soft. In March 2026, the Victoria Core benchmark for a single-family home was $1,330,200, down 1.1% from March 2025, while the benchmark for a Victoria Core condominium was down 0.8% year over year. What We Usually Recommend Instead In many cases, the best strategy is neither “just relist” nor “just wait.” It is to reposition. That can mean: adjusting price to where today’s buyers see value improving staging, light, and photo quality rewriting the listing to match the real buyer profile tightening showing readiness relaunching with a clearer plan once the product is stronger The market rarely rewards stubbornness. It usually rewards clarity. A stale listing is not always a bad home. Often, it is simply a good home that met the market with the wrong strategy. Final Thought If your home is sitting, do not assume a relist will save it, and do not assume waiting will fix it. The better move is to find out why buyers are passing, then make a strategic decision based on price, presentation, competition, and timing. If you are trying to decide whether to relist, wait, or reposition your sale, contact Faber Real Estate Group for honest advice on what your listing is really telling the market and what to do next. 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.”

The Greater Victoria real estate market is giving buyers more room to breathe than it did a year ago. The Greater Victoria real estate market is still active, but it is clearly more competitive for sellers. Sales are down from last year, inventory is up, and buyers have more time to compare options, negotiate, and look for value. In March 2026, a total of 579 properties sold through the Victoria Real Estate Board, which was 5.5% lower than March 2025, when 613 properties sold. Detached home sales were down 2.4% year over year, and condo sales were down a sharper 18.8%. At the same time, active listings climbed to 3,261, up 7.9% from March 2025 and 12.3% from February 2026. That matters because it tells us buyers are not competing in the same tight environment they were used to in past markets. What That Means in Plain Terms This is a market with more supply and softer demand than last spring. That does not mean homes are not selling. It means sellers need to adjust their expectations. When inventory rises and sales fall, buyers gain leverage. They can be more selective. They can wait for the right home. They can compare condition, location, layout, and price across more listings. They are also more likely to push for better terms, ask tougher questions, and look for homes they feel are priced well from day one. For sellers, this is not the kind of market where most properties can simply come out high and expect to attract a top-dollar result. The strategy has to be tighter than that. Price, presentation, and timing all matter more when buyers have options. Buyers Are Looking for Deals One of the clearest signals in the current numbers is that buyers are shopping carefully. The Victoria Core benchmark for a single family home in March 2026 was $1,330,200, down 1.1% from March 2025. The benchmark for a condo was $553,800, down 0.8% year over year. Prices have not collapsed, but the direction tells an important story: buyers are resisting overpricing, and values are not rising fast enough to bail out an ambitious list price. That is why today’s buyers are often drawn to homes that feel like strong value. They are not just asking, “Do I like this home?” They are also asking, “Is this priced better than the other five I saw this week?” In a market like this, the overpriced listing often becomes the listing that sits. The Market Is Close to Buyer-Friendly Territory The sales-to-active listings ratio helps explain the tone of the market. In March 2026, there were 550 total residential sales and 3,261 active listings, which works out to roughly 16.9%. VREB notes that for Victoria, a ratio below 17% points to downward pressure on prices, 17% to 28% is considered balanced, and above 28% signals upward pressure on prices. In other words, the market is sitting right on the edge of buyer-friendly conditions. That does not mean every neighbourhood or property type behaves the same way. Greater Victoria is still made up of many micro-markets. A well-priced home in a high-demand pocket can still move quickly. But broadly speaking, sellers are competing harder for attention than they were a year ago. What Sellers Need to Understand Right Now If you are thinking about selling, the message is not “do not sell.” The message is do not sell with last market’s expectations. This market rewards sellers who: price based on current competition, not peak headlines prepare the home properly before it hits the market understand what buyers will compare it against respond quickly when feedback points to price or condition concerns This is especially important because buyers are no longer being rushed into decisions at the same pace. VREB itself noted that the current mix of supply and demand has created fewer high-pressure transactions and has given both sides more time for due diligence and decision-making. That is a major shift from the kind of market where almost any decent listing could rely on urgency to do part of the work. The Bottom Line The current Greater Victoria market is more competitive for sellers than it was last year. Sales are down. Inventory is higher. Buyers have more choice and are looking closely for value. That means top-dollar outcomes are still possible, but they are far less likely to come from overpricing or wishful thinking. They come from accurate pricing, strong preparation, and a strategy built for the market that exists now, not the one sellers remember. For homeowners considering a move, this is the time to be realistic, not reactive. A smart strategy can still produce a strong result, but the market is asking sellers to earn it. If you are thinking about selling and want honest advice on where your home fits in today’s market, contact Faber Real Estate Group for a clear pricing and positioning strategy tailored to your property. Michael F., 5-Star Review, via Google “Cal and Scott exceeded our expectations in every way. They were always available to answer our questions and address any concerns immediately, providing exceptional support throughout the entire process. Their dedication and expertise made the selling and buying experience seamless and stress-free.” 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.”

The spring market in Victoria, BC is now taking shape, and this year it looks more balanced, more selective, and less rushed than the fast-moving markets many people still remember. March 2026 sales in the Victoria Real Estate Board region rose to 579 properties, up 24.5 per cent from February, while active listings climbed to 3,261. VREB described this as a fairly typical spring pattern that usually builds toward May or June. More Listings Means More Choice One of the clearest themes this spring is inventory. Buyers are seeing more options than they did in many recent spring markets, and that changes the tone of the market. At the end of March 2026, active listings were up 12.3 per cent from February and 7.9 per cent from March 2025. That matters because more selection usually gives buyers more time to compare properties, review documents carefully, and make decisions with less pressure. This trend was already building in February. VREB reported 2,903 active listings at the end of that month, up 10.6 per cent from January and 10.4 per cent from the year before. In other words, spring did not suddenly appear in March. It has been building in stages, with supply steadily improving as more sellers prepare to list. Buyers Should Expect Better Conditions Than Recent Years For buyers, this spring should feel more manageable than the highly competitive conditions of past years. VREB noted that current conditions are creating fewer high-pressure transactions and allowing more time for due diligence. That does not mean every home will sit or every seller will negotiate heavily. Well-priced homes in strong locations can still move quickly. It does mean buyers have a better chance to compare options and make decisions with a plan rather than panic. That fits the broader provincial picture as well. BCREA says inventory across BC is running near its highest level in more than a decade, and it expects markets to remain broadly balanced in 2026, with price growth tempered by higher supply. Sellers Should Expect More Competition For sellers, the spring market still offers opportunity, but not in the same way it did in ultra-tight markets. More listings mean more competition. Buyers have more homes to compare, so pricing, presentation, and strategy matter more. A property that is well prepared and priced in line with today’s market can still attract strong attention. A property that is overpriced or poorly presented may sit longer than expected. This is where many sellers can get caught off guard. Spring brings more buyer activity, but it also brings more competing listings. More activity does not automatically mean more leverage for every seller. In a balanced market, the homes that stand out usually do so because the strategy behind them is stronger, not because the season alone carries them. This matches the current reality that VREB describes as offering opportunities for both buyers and sellers rather than strongly favouring one side. Prices Are Showing Stability More Than Acceleration If you are wondering whether spring 2026 will bring a sharp jump in prices, the current data suggests a steadier pattern. In the Victoria Core, the MLS HPI benchmark for a single-family home was $1,330,200 in March 2026, down 1.1 per cent from March 2025 but up from February 2026. The benchmark for a condo was $553,800, down 0.8 per cent year over year and also up month over month. That tells an important story. Prices are not showing the kind of fast upward pressure that buyers feared in past spring markets, but they are also not collapsing. Instead, we are seeing a market where values are relatively stable, with modest month-to-month improvement as spring demand builds. What This Means for Buyers If you are buying this spring, expect more choice, more time to think, and more room to be strategic. That said, do not confuse a more balanced market with an easy market. Good homes can still attract competition, especially if they are priced well and show well. The advantage for buyers this year is not unlimited negotiating power. It is the ability to be more deliberate. A smart buyer strategy this spring is to get clear on your budget, target neighbourhoods, and must-haves before the right property appears. When the right fit does come up, preparation still matters. The buyers who do best in a balanced spring market are often the ones who are patient first and decisive second. What This Means for Sellers If you are selling this spring, expect buyers to notice value gaps more quickly. They have more listings to compare, and that makes strong pricing and strong presentation more important. Spring can still be an excellent time to list, but it is no longer enough to rely on seasonal momentum alone. Sellers who are realistic from the start often put themselves in a stronger position than those who test the market too high and hope conditions will do the work for them. In this market, preparation, marketing quality, and pricing discipline are what create leverage. The Bottom Line on This Year’s Spring Market The spring market in Victoria, BC looks active, but measured. Sales are rising seasonally, inventory is improving, and the market is giving both buyers and sellers room to make better decisions. That is a healthier environment than the rushed conditions many people associate with spring real estate. It also means strategy matters more than ever. If you are planning to buy or sell this spring, the best next step is not to guess where the market is going. It is to understand how your specific property type, price point, and area fit into today’s conditions. If you want help building the right plan for this spring market, contact Faber Real Estate Group for advice tailored to your move. 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.”

Deciding between renting vs buying in Victoria BC is a major choice for many residents. Victoria’s housing market is moving in two directions at once: rents have been easing, while ownership prices (especially for single family homes) have stayed relatively firm. Using current numbers can help you make a decision based on reality, not headlines. Current Rental Market: Prices and Trends Victoria remains one of the pricier rental markets in Canada, but recent data shows rents have been trending down. Average asking rent (Victoria): about $2,224 across unit types (January 2026). One-bedroom: about $1,942 (January 2026), down 6.7% year-over-year. Two-bedroom: about $2,605 (January 2026), down 5.1% year-over-year. On supply, Greater Victoria is seeing more breathing room than recent years: Greater Victoria vacancy rate: about 3.3% (CMHC 2025 Rental Market Report, cited by the Province). What this means in plain terms: more choice, a bit more leverage for renters, and fewer situations where tenants feel forced to accept the first available unit. Buying in Victoria: Prices and Ownership Landscape On the ownership side, a helpful “apples-to-apples” metric is the MLS HPI benchmark (it tracks a typical home over time, rather than averages that can swing with the mix of what sold). From the Victoria Real Estate Board’s February 2026 market report (Victoria Core): Single family home benchmark: $1,307,400 (February 2026). Condominium benchmark: $545,600 (February 2026). Inventory has been healthier than the tightest years, with 2,903 active listings across the VREB region at the end of February 2026. That usually translates into more selection and a less frantic pace, but affordability still matters because the entry point remains high. Pros and Cons of Renting in Victoria Pros of Renting Lower upfront cost (no down payment or closing costs) Flexibility to relocate without selling No responsibility for major repairs and maintenance Recent rent softening and higher vacancy can improve negotiating position Cons of Renting Monthly payments do not build equity Rent is still expensive relative to local incomes Less control over the home and potential future rent increases Pros and Cons of Buying in Victoria Pros of Buying Builds equity over time More stability and control over your space Predictable payments if you choose a fixed-rate mortgage Cons of Buying High upfront costs (down payment, closing costs, property transfer tax, legal fees) Ongoing costs (maintenance, insurance, property taxes, condo fees if applicable) Market conditions vary by segment, and pricing is not guaranteed to rise year-to-year Making the Decision: What to Consider Your choice between renting vs buying in Victoria BC should match three things: Time horizon: Are you staying put for 3+ years, or is life still in motion? Cash position: Down payment, closing costs, and an emergency fund for ownership surprises Monthly reality: Compare rent to the true cost of ownership (mortgage, taxes, insurance, maintenance, and strata fees) A useful takeaway from the 2026 data is this: renting has become slightly less punishing than it was, while buying still requires a clear financial plan because benchmarks remain high. Final Thoughts Rents are easing and vacancy is up, while benchmark ownership prices in the Victoria Core have stayed relatively steady. That combination can create a “pause-and-plan” moment where renters gain options and buyers gain breathing room. If you want, we can run a simple rent vs buy comparison using your target neighbourhood, down payment, and comfort level with monthly costs, so your decision is grounded in real numbers. David M., 5-Star Review, via Google “Scott was a fantastic realtor—hardworking, knowledgeable, and truly dedicated to his clients. His expertise and great connections made the entire process smooth and stress-free. He went above and beyond to ensure everything was taken care of, and I couldn’t be happier with the results. I highly recommend Scott to anyone looking for a realtor.” 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.”