Posts Tagged ‘Greater Victoria housing market’

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.”

Greater Victoria real estate micro-markets can feel confusing because the region does not move as one single market. A condo in downtown Victoria, a family home in Gordon Head, a townhome in Langford, and a character home in Oak Bay can all respond differently to the same interest rate environment, inventory level, or buyer mood. That is why broad market headlines can only tell part of the story. According to the Victoria Real Estate Board, there were 3,710 active listings on the MLS® at the end of April 2026, up 8.3% from April 2025. The Board also described the overall market as balanced, while noting that buyer and seller experiences can vary depending on property type and location. That last point matters most. A Balanced Market Does Not Mean Every Area Feels Balanced When people hear that the market is balanced, they often assume every neighbourhood is moving at the same pace. That is rarely true. One area may have strong demand for detached homes because families want school access, yard space, and long-term livability. Another area may have slower condo activity because buyers have more choice, higher strata scrutiny, or stronger price sensitivity. A balanced regional market can still contain: Competitive pockets Slower-moving property types Price-sensitive segments High-demand neighbourhoods Listings that need sharper pricing to stand out This is why Greater Victoria real estate micro-markets require more than a regional average. Property Type Changes Everything A detached home, townhouse, condo, acreage property, and new-build unit can all behave differently. For example, buyers comparing condos may focus on strata fees, depreciation reports, insurance, amenities, parking, and building age. Buyers looking at detached homes may care more about lot size, renovation history, suite potential, roof condition, schools, and outdoor space. Even within the same neighbourhood, two property types can have very different buyer pools. A well-priced townhouse in a walkable area may attract strong interest, while a nearby condo with high strata fees may move more slowly. A dated detached home may sit if it needs major work, while a well-maintained home nearby may sell quickly because buyers value certainty. Neighbourhood Lifestyle Drives Buyer Demand Greater Victoria is not just a collection of price points. It is a collection of lifestyles. Buyers are often choosing between very different versions of daily life: Walkability in Fairfield, James Bay, Cook Street Village, or Fernwood Space and newer homes in Langford, Colwood, or View Royal Quiet residential streets in Gordon Head, Cordova Bay, or Oak Bay Waterfront access in Sidney, Saanich Peninsula, or Esquimalt Rural privacy in Metchosin, Central Saanich, or parts of Highlands These choices are emotional as much as financial. A buyer who wants cafés, transit, and walkability may accept less square footage. A buyer who wants a garage, yard, and newer construction may look further from the core. A downsizer may prioritize elevator access, storage, and a quiet building over a larger floor plan. That is why two homes at the same price can feel completely different in value. Price Brackets Create Their Own Markets Price point is another reason local real estate behaves differently. A home listed around a first-time buyer budget may attract a very different buyer group than a home listed above $1.5 million. Financing, affordability, insurance, strata fees, renovation costs, and property transfer tax considerations can all influence how active buyers feel at each level. In some price ranges, buyers may move quickly because quality options are limited. In others, they may compare more carefully because there are more listings to choose from. For sellers, this means pricing cannot rely only on what the neighbour sold for. It needs to consider: The current competition Buyer affordability at that price point Days on market for similar homes Recent comparable sales Property condition How much choice buyers have today The right pricing strategy depends on the specific buyer pool, not just the address. Condition Matters More When Buyers Have Choice When inventory rises, buyers tend to become more selective. In April 2026, Greater Victoria had more active listings than the previous year, giving buyers more options across many parts of the region. That does not mean every buyer has endless choice, but it does mean sellers need to understand how their home compares in real time. In a market with more selection, buyers often look closely at: Roof age Windows Heating systems Strata documents Depreciation reports Drainage Electrical updates Renovation quality Storage and parking Long-term maintenance costs A home does not need to be perfect. It needs to be clearly positioned. A well-maintained home gives buyers confidence. A home with unclear maintenance history may create hesitation, even if the price seems reasonable. Buyers and Sellers Need Local Context, Not Just Market Averages Averages can help explain the direction of the market. They do not tell you what to offer on one specific home or how to price one specific listing. For buyers, local context helps answer better questions: Is this home priced fairly for this neighbourhood? How much competition is there for this property type? Are buyers moving quickly here or taking their time? Is this location likely to support long-term resale demand? What trade-offs are normal at this price point? For sellers, local context helps avoid two common mistakes: Overpricing based on old market momentum Underestimating buyer demand in a strong pocket Good strategy starts with the micro-market, not the headline. What This Means If You Are Buying When buying in Greater Victoria, it helps to compare homes by lifestyle, property type, and long-term fit rather than price alone. A condo in the core may offer walkability and convenience. A townhouse in the Westshore may offer more space and newer construction. A detached home in Saanich may offer long-term flexibility, but may also come with higher maintenance needs. The better question is not simply, “Is this a good deal?” A better question is, “Is this the right trade-off for the way I want to live, the budget I have, and the resale value I want to protect?” What This Means If You Are Selling When selling, the goal is not to price for the entire region. The goal is to price for the buyers most likely to choose your home. That means looking closely at: Your neighbourhood Your property type Your condition level Your competition Your timing Your likely buyer profile A strong listing strategy should explain why your home makes sense in its specific market. That may mean highlighting walkability, updates, outdoor space, suite potential, strata strength, school proximity, or lifestyle convenience. The more specific the positioning, the easier it is for the right buyer to understand the value. The Bottom Line Greater Victoria real estate micro-markets matter because buyers are not shopping the region in one uniform way. They are comparing neighbourhoods, lifestyles, building types, costs, risks, and long-term fit. That is why the best advice is rarely generic. Whether you are buying or selling, the real value comes from understanding the specific market you are in, not just the market everyone is talking about. For advice on how your neighbourhood, property type, or price range is performing in today’s Greater Victoria real estate market, contact Faber Real Estate Group.     Darren L., 5-Star Review, via Google “Fabulous job from Cal, Scott and Vanessa. They were professional, have strong negotiating skills and had a proactive strategy as the house sold very quickly (within a day the offer was accepted) and for the asking price. We were at ease with Cal and the team once we decided to go with them after interviewing other realty groups. It was definitely a smooth experience to say the least. Highly recommending the Faber Group if you’re buy or selling. Truly a group that is there to put the client first and foremost.” 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.”

Victoria housing needs will likely shape far more than new construction. They will influence buyer expectations, seller strategy, neighbourhood growth, affordability pressure, and the types of homes that become more common across the region. The City of Victoria’s 2024 Interim Housing Needs Report estimates the city will need about 8,254 new homes over the next 20 years, while Langford has projected a 20-year need of about 17,000 new homes as it plans for major population growth. That means the next decade will not only be about building more homes. It will be about building the right mix of homes in the right locations. Housing Demand Is No Longer One Simple Problem For years, the conversation around housing was often reduced to one idea: Victoria needs more homes. That is still true. However, the next phase is more complex. Greater Victoria needs more rental housing, more family-sized options, more attainable ownership opportunities, more downsizer-friendly homes, more accessible housing, and more homes close to transit, services, and employment. This matters because different buyers need different solutions. A first-time buyer may need a well-priced condo near transit. A growing family may need a townhouse with storage and outdoor space. A downsizer may want a low-maintenance strata home close to shops and medical services. A senior may need accessible living without leaving their community. If the region does not add enough variety, buyers will continue competing for the same limited options. More Density Will Likely Become Normal Over the next 10 years, many Victoria neighbourhoods may see more townhomes, multiplexes, small apartment buildings, infill housing, and purpose-built rentals. This does not mean every street will change overnight. However, the direction is clear. Provincial housing targets are pushing municipalities to increase supply, and Saanich has been given a mandated five-year target of 4,610 net new completed homes. For homeowners, this creates both opportunity and uncertainty. More density may bring: New housing choices More rental options Better support for local businesses Stronger demand near transit and amenities Changes to neighbourhood character More construction activity New questions around parking, infrastructure, and public space For buyers, it means location research will become even more important. A quiet street today may look different in five or 10 years depending on zoning, transportation planning, and nearby redevelopment potential. Affordability Will Keep Driving Buyer Behaviour Even if more homes are built, affordability will likely remain one of Victoria’s biggest challenges. Higher construction costs, land values, interest rates, municipal fees, and limited land supply all affect what gets built and what buyers can afford. More supply can help, but it does not automatically make every home affordable. This is why buyers may continue to make trade-offs between: Size and location Age and efficiency Outdoor space and walkability Condo convenience and detached-home privacy Core neighbourhoods and Westshore affordability Move-in-ready homes and renovation potential The next decade may reward buyers who are flexible. Instead of searching for the perfect home, many will need to focus on the best long-term fit. Purpose-Built Rentals Could Change the Ownership Market Victoria has already seen more attention on purpose-built rental housing. The City of Victoria reported that purpose-built rentals had exceeded its 1,900-unit target as part of its housing strategy milestones, contributing to the city’s highest vacancy rate in more than a decade. This could affect the ownership market in several ways. More rental supply may give some renters more time before buying. It may also reduce pressure on some entry-level ownership options if renters have more stable choices. However, if ownership remains expensive, many households may rent longer than previous generations did. For investors, this could mean stronger competition from newer rental buildings. Older rental-style condos or secondary suites may need to stand out through location, condition, layout, or pricing. Sellers Will Need to Think More Strategically In a market with more housing choice, sellers cannot assume that limited supply will do all the work. As inventory grows, buyers compare more carefully. In April 2026, the Victoria Real Estate Board reported 3,710 active listings at month-end, up 8.3% from April 2025 and up 13.8% from March 2026. That kind of choice changes seller strategy. Sellers may need to focus more on: Accurate pricing Strong presentation Maintenance records Energy efficiency Flexible showing access Clear strata documents Neighbourhood positioning Transparent upgrade history If more new or newer homes come to market over time, older homes will need to compete on more than location alone. Condition, layout, livability, and future costs will matter. Neighbourhood Identity May Shift Housing needs will not affect every area equally. Langford may continue to absorb a large share of regional growth because of land availability, development patterns, and infrastructure planning. The City of Langford has stated it is planning for a population of 100,000 residents, nearly double its current population of about 58,000. Meanwhile, Victoria, Saanich, Esquimalt, View Royal, Colwood, Sidney, and Oak Bay will each face different pressures. Some neighbourhoods may become more walkable. Others may become denser around transit corridors. Some may see more infill. Others may hold value because they offer larger lots, established streets, or limited redevelopment potential. For buyers, this means the question is not just, “Do I like this neighbourhood today?” The better question is, “How might this neighbourhood change over the next 10 years?” What Buyers Should Watch Buyers should pay attention to more than current listings and recent sales. Over the next decade, smart buying decisions may depend on: Local zoning changes Transit access Nearby development applications School capacity Infrastructure upgrades Walkability Strata fees and building age Energy efficiency Long-term maintenance costs Resale demand by property type A home can be a good fit today and still face future trade-offs. The more buyers understand those trade-offs early, the more confident their decisions become. What Sellers Should Watch Sellers should think about how future housing supply may affect their property’s position in the market. A well-maintained detached home in a walkable area may continue to attract strong interest. A dated condo may face more competition if newer rental or condo supply gives buyers better alternatives. A townhouse with family-friendly space may stand out if demand grows for homes between condos and detached houses. Sellers should ask: What makes this home hard to replace? What buyer problem does it solve? How does it compare to newer options? What future costs might buyers notice? Which improvements would matter most before listing? In a changing market, the best listings will make the value clear. The Bigger Picture Victoria’s housing needs will shape the next 10 years through density, affordability, infrastructure, rental supply, and changing lifestyle expectations. For buyers, the opportunity is to think beyond today’s price and focus on long-term livability. For sellers, the opportunity is to understand where their home fits as more choice enters the market. Housing growth will not remove every challenge. However, it will change the way people compare homes, evaluate neighbourhoods, and plan their next move. For local guidance on how Victoria housing needs could affect your buying or selling strategy, contact Faber Real Estate Group for advice before making your next real estate decision. 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 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.”

What buyers expect from sellers when they have more choice has changed in Victoria’s current market. Buyers are no longer making decisions under the same pressure they faced in tighter conditions. With 3,261 active listings at the end of March 2026, up 7.9 per cent from a year earlier, and with VREB noting that current conditions allow more time for due diligence, buyers are expecting better pricing, better presentation, and fewer question marks before they commit. (vreb.org) In other words, more choice does not mean homes are not selling. It means buyers can compare more carefully. CREA’s Victoria market conditions data shows that homes are taking longer to sell than they were a year ago, with median days on market in Q1 2026 rising to 26 days for single-family homes, 31 days for townhouses, and 30 days for condominiums. When buyers have more time, their standards rise. (creastats.crea.ca) Buyers Expect Realistic Pricing The first thing buyers expect is pricing that reflects the current market, not last year’s peak expectations. When inventory rises and sales slow year over year, buyers become much more sensitive to value. In March 2026, VREB reported 579 sales, down 5.5 per cent from March 2025, even as inventory increased. That means buyers have more alternatives, so an overpriced listing is easier to skip. (vreb.org) Today, buyers are asking themselves: how does this home compare to the other options I have seen? does the asking price match the condition, location, and layout? if this home needs work, has that been reflected in the price? Sellers who price strategically tend to attract stronger interest early. Sellers who price for negotiation alone often end up inviting hesitation instead. Buyers Expect the Home to Feel Market-Ready When buyers have more choice, they notice presentation faster. That does not mean every home needs a major renovation. It does mean buyers expect the property to feel cared for, clean, and easy to understand. If they walk into a home with deferred maintenance, clutter, poor lighting, or obvious unfinished projects, they start calculating cost, effort, and inconvenience. In a market with more listings, buyers often lean toward the property that feels simpler and safer, even if it is not perfect. That is why sellers should focus on: decluttering and cleaning thoroughly completing small repairs improving lighting and flow making the home photograph well online reducing distractions during showings A buyer who has five similar listings to compare will often choose the one that feels easiest to step into. Buyers Expect Transparency More choice also gives buyers more confidence to walk away when something feels unclear. VREB has said buyers are using the extra time in today’s market to undertake due diligence. That means sellers should expect buyers to pay closer attention to disclosures, strata documents, depreciation reports, maintenance history, permits, and overall condition. (vreb.org) This is especially important for: condos and townhomes with strata documentation older homes with past renovations properties with tenancies or suite income homes with known issues that could come up in inspection Buyers do not expect perfection. They do expect honesty. Clear information builds trust. Unanswered questions create resistance. Buyers Expect Flexibility, Not Friction In a competitive seller’s market, buyers often accepted the seller’s timing, terms, and conditions without much pushback. That is less common when they have options. Today’s buyers may expect: flexible possession dates reasonable time for financing and inspection access to documents early a smoother showing process thoughtful communication when they have questions That does not mean sellers need to agree to everything. It does mean rigid sellers can lose otherwise solid buyers over issues that could have been handled more smoothly. Buyers Expect to See Value Clearly This is where many listings fall short. Sellers know what they have spent on the home. Buyers care more about what the home offers them now. If the value story is unclear, they move on. That is why sellers need to make the value visible. Instead of assuming buyers will notice, the listing and showing experience should help them understand: what has been updated what makes the layout work what makes the location desirable what costs or concerns have already been addressed why this home stands out from nearby competition More choice makes comparison easier. Therefore, sellers need to do a better job showing why their home deserves to be shortlisted. Buyers Expect Better Online First Impressions Before a showing happens, buyers have already judged the listing online. That matters even more when inventory is up. Buyers sorting through more listings often decide within seconds whether a home feels worth seeing in person. Poor photos, weak descriptions, missing room details, or unclear value positioning can cost a seller showings before the conversation even begins. The online presentation should answer three things quickly: what kind of buyer is this home best for? what are the best features? why should someone book a showing instead of scrolling past? When buyers have more choice, average marketing blends in. Buyers Expect Sellers to Understand the Market Shift One of the biggest disconnects right now is that some sellers still act like the market owes them urgency. It does not. Victoria’s market is not frozen, but it is more balanced than it was in more aggressive seller-driven periods. CREA’s Victoria data shows higher months of inventory across single-family, townhouse, and condominium segments in Q1 2026, while VREB says buyers and sellers alike now have more time to make decisions. (creastats.crea.ca; vreb.org) That shift changes expectations. Buyers now expect sellers to meet the market with a clear strategy instead of assuming demand will do the work for them. What Sellers Should Take Away From This If buyers have more choice, sellers need to reduce reasons to say no. That means: price with discipline prepare the home properly disclose clearly market the value well stay flexible where it matters The homes that perform best in this kind of market are usually not the ones with the highest asking price. They are the ones that feel the most credible, best prepared, and easiest to buy. Final Thought What buyers expect from sellers when they have more choice is not complicated, but it is more demanding. They want value, clarity, presentation, and confidence that the home is worth their time. If you are thinking of selling and want to position your home the right way in today’s Victoria market, contact Faber Real Estate Group for practical advice and a strategy built for current buyer behaviour.   Lorraine P., 5-Star Review, via Google “I would not dream of ever using a realtor other than Cal. Apart from the fact that he is was exceptionally knowledgable and resourceful, he was also honest, truthful and always acted in my best interest while at the same time treating all parties with dignity and respect.” 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 competitive real estate markets, submitting an offer is about more than just the purchase price. Sellers often evaluate the overall strength of an offer, including certainty, flexibility, and buyer readiness. Understanding how to position your offer strategically can significantly improve your chances of success. Here are key tips to help make your offer stand out. Get Fully Prepared Before You Offer Preparation is one of the strongest advantages a buyer can have. Having mortgage pre-approval in place, understanding your budget, and reviewing comparable sales allows you to act quickly and confidently when the right property comes along. Understand the Seller’s Priorities Every seller’s situation is different. Some prioritize price, while others value flexibility on possession dates or fewer conditions. Understanding what matters most to the seller allows you to structure an offer that aligns with their goals, not just yours. Offer Strong Terms, Not Just a Strong Price Price matters, but clean terms often carry equal weight. Fewer conditions, reasonable timelines, and clear financing can make an offer more attractive. Sellers often favour offers that feel secure and straightforward, even if they are not the highest. Be Strategic With Conditions Conditions protect buyers, but unnecessary or overly broad conditions can weaken an offer. Where appropriate, tightening condition timelines or limiting conditions can improve competitiveness while still managing risk. Increase Your Deposit Where Possible A larger deposit demonstrates financial strength and commitment. While it does not change the purchase price, it can provide sellers with additional confidence that the buyer is serious and well-prepared. Remain Flexible on Possession Dates Flexibility can be a major advantage. Accommodating a seller’s preferred possession date or allowing rent-back arrangements, when appropriate, can make your offer more appealing without additional cost. Limit Unnecessary Requests Asking for excessive repairs, credits, or inclusions upfront can weaken an offer. In competitive situations, keeping the initial offer clean and reasonable can improve your position. Work With Local Market Knowledge Understanding current market conditions, recent sales, and buyer competition helps guide offer strategy. Local expertise ensures your offer is competitive without overreaching or missing opportunities. Be Ready to Act Quickly In active markets, timing matters. Buyers who are decisive and prepared are often more successful than those who hesitate. Having a plan in place allows you to move forward with confidence when the right opportunity arises. Why Strategy Matters A competitive offer balances strength with smart decision-making. The goal is not just to win the property, but to do so with terms that make sense for your situation. With the right preparation and guidance, buyers can submit offers that stand out while still protecting their long-term interests.   Christina A. 5-Star Review, via Google “We had such a great experience working with Scott Faber during our recent home buying! From the start, Scott made everything super easy and was always there to answer our questions. Scott really listened to what we wanted and helped us find the perfect place. What we appreciated most was how down-to-earth and approachable he was. No matter what came up, Scott was on top of it and kept us in the loop the whole time. We felt like we were in great hands the entire process. ” 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.”

Every year, the spring real estate market brings a noticeable increase in activity. New listings rise, more buyers begin touring homes, and conversations about moving seem to happen everywhere at once. While homes sell throughout the year, spring has historically been the busiest season in real estate. Many buyers and sellers intentionally wait for this period because it tends to offer more opportunity, visibility, and confidence compared with other times of the year. Understanding why this seasonal pattern exists can help you decide whether waiting for spring is the right strategy or if moving earlier could give you an advantage. Why Sellers Often Wait for the Spring Real Estate Market For homeowners considering selling, the spring real estate market offers several advantages that can make the process feel more favourable. 1. More Buyers Are Actively Searching Spring is when many buyers begin their serious home search. Several factors contribute to this surge in activity: Warmer weather makes viewing homes easier and more enjoyable. Families planning a move often want to complete a purchase before the next school year. Buyers who paused their search during the winter holidays return to the market. When more buyers are looking at the same time, sellers often feel more confident listing their property. 2. Homes Tend to Show Better Spring can also make a property look more appealing. Gardens and landscaping begin to bloom. Natural light improves interior spaces. Outdoor areas such as patios and yards become more inviting. First impressions matter in real estate. When a home shows well both inside and outside, it can attract more interest and stronger offers. 3. Perception of Higher Sale Prices Many homeowners believe the spring real estate market brings stronger prices. In active years, increased buyer demand can create competitive situations. While pricing always depends on local supply and demand, spring often delivers: Higher showing activity More comparable sales for pricing guidance A perception of market momentum These factors can encourage sellers to list when they believe the market is most active. Why Buyers Also Wait for the Spring Real Estate Market Interestingly, the same factors that motivate sellers also influence buyers. 1. More Listings to Choose From Inventory typically increases in the spring. After a slower winter period, many homeowners decide to list their properties once the weather improves. For buyers, this means: More neighbourhood options More property types available Less pressure to buy the first home they see Having more selection can make the buying process feel more comfortable. 2. Easier Scheduling for Showings and Moving Weather plays a practical role in real estate decisions. Spring makes it easier to: Attend open houses Schedule property tours Move without worrying about winter conditions For families relocating or coordinating multiple schedules, this can be a significant factor. 3. Financial Planning After the New Year Many buyers spend the early part of the year reviewing finances. By spring, they may have: Completed mortgage pre-approvals Filed tax returns Saved additional down payment funds This preparation often leads to a surge in serious buyers entering the market between March and June. The Reality: Spring Is Competitive While the spring real estate market offers advantages, it also comes with increased competition. Buyers may face: Multiple-offer situations Faster decision timelines More competition for desirable homes Sellers, on the other hand, may find that more listings appear at the same time, which means their property must stand out. Market timing alone does not guarantee success. Pricing strategy, preparation, and marketing remain the most important factors. Why Some People Move Before Spring Interestingly, some of the best opportunities can occur just before the spring rush. For example: Buyers may face less competition in late winter. Sellers who list early can capture motivated buyers who are already searching. Serious buyers often start their search months before the peak season. In markets like Greater Victoria, conditions can shift quickly depending on inventory levels and interest rates. Recent data from the Victoria Real Estate Board shows that inventory and buyer activity fluctuate throughout the year, meaning opportunities exist in every season. This is why strategic timing, rather than simply waiting for spring, often leads to the best results. The Takeaway The spring real estate market remains the most active time of year because it brings together motivated buyers, increased listings, and favourable weather conditions. These factors create a sense of momentum that encourages many people to make their move. However, waiting for spring is not always the best strategy. In some cases, entering the market earlier can mean less competition and stronger negotiating power. If you are considering buying or selling in Greater Victoria and want to understand how seasonal timing could affect your plans, reach out to Faber Real Estate Group for guidance tailored to your goals and the current market. 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.”

The Greater Victoria real estate market continued to show signs of stability and steady activity in February 2026. According to the Victoria Real Estate Board, 465 properties sold across the region, representing a 37.2 percent increase from January, though still 11.9 percent lower than February 2025. While year-over-year comparisons show some moderation, the strong month-to-month growth indicates that buyers are returning to the market as we move toward the spring season. Inventory is also expanding, giving buyers more options than they have seen in recent years. Active listings rose to 2,903 properties, up 10.6 percent from January and 10.4 percent higher than the same time last year. For many buyers and sellers, this signals a shift toward a more balanced real estate environment where neither side holds a dramatic advantage. Local REALTOR® Scott Faber notes that the Victoria market continues to behave differently than many larger Canadian markets. “There’s a lot of noise coming out of Vancouver and Toronto,” Scott Faber says. “However, our market here is very stable and resilient compared to other markets across Canada.” Insights for Buyers For buyers entering the market this spring, the increased inventory is creating more breathing room to explore options and make thoughtful decisions. With nearly three thousand active listings available, buyers can take time to compare homes, neighbourhoods, and property types more carefully than they could during the intense competition of previous years. Scott Faber explains that condominiums may offer particular opportunity right now. “If you’re a buyer looking for a condo this spring, this is definitely a good time to explore those options,” Scott Faber says. “Especially for downsizers or first-time homebuyers, there’s a lot of choice available and mortgage rates have come down significantly compared to last year.” However, the single-family home segment remains competitive in certain price ranges. Scott Faber notes that homes under $1.2 million with suites are attracting strong demand, particularly in areas like Saanich and Langford. “One of our listings had 18 showings within two weeks,” Scott Faber says. “And we’ve been in multiple-offer situations on several homes under a million dollars, some with suites and some without.” Because of this continued competition in certain segments, preparation remains critical. “If you’re looking for a single-family home, get prepared with a mortgage pre-approval and talk to your real estate professional so you’re ready to act,” Scott Faber advises. Insights for Sellers For sellers considering entering the market this spring, the February activity provides an important takeaway: preparation and presentation matter more than ever. While buyers have more inventory to choose from, homes that are properly priced and move-in ready are still attracting strong interest and selling quickly. Properties that are not show-ready, however, may take longer to move in a market where buyers have more choice. Scott Faber sees this trend clearly when working with clients. “When a home is priced to sell and it’s move-in ready, buyers are moving quickly,” Scott Faber says. “But the homes that aren’t show-ready or require significant updates tend to sit longer because buyers simply have more options right now.” For sellers, this makes professional strategy essential. “I always recommend choosing a professional real estate team that understands how to position your home properly in today’s market,” Scott Faber says. “If your home is well-appointed, marketed correctly, and priced appropriately, you’re going to have a good experience selling.” Market Outlook Looking ahead to the spring market, Greater Victoria appears to be entering a period of stability rather than volatility. The benchmark price for a single-family home in the Victoria Core is now $1,307,400, a modest 0.9 percent decrease from last year, though prices have increased since January. Condominiums show a similar pattern, with a benchmark value of $545,600, down slightly year-over-year but rising month-over-month. Scott Faber believes these numbers reflect a market that is finding its balance. “What we’re seeing right now is a balanced market,” Scott Faber says. “We’re not seeing the large supply increases that some people expected, and when the market is balanced it creates great opportunities for both buyers and sellers.” As the spring market approaches, activity is expected to continue building. Buyers will likely benefit from increased inventory, while sellers who prepare their homes properly can still capture strong demand. Final Thoughts February’s data and on-the-ground experience point to a clear conclusion: the Greater Victoria real estate market remains steady, resilient, and balanced. Buyers now have more options and greater confidence as prices stabilize and inventory expands. Sellers, meanwhile, can still achieve excellent results when their homes are positioned correctly in the marketplace. For those considering a move this year, understanding these local dynamics is critical. If you are thinking about buying or selling in Greater Victoria, connect with Scott Faber and the Faber Real Estate Group for personalized guidance and expert insight into today’s market opportunities. Scott L., 5-Star Review, via Google “I had the pleasure of working with the Faber Group to sell my house, and I couldn't be more pleased with the experience. Cal and Scott from the Faber Group provided exceptional service from start to finish. Their expertise and guidance were instrumental in preparing my home for sale, ensuring it was presented in the best possible light for maximum return on investment. They demonstrated a deep understanding of the market, strategically timing the listing to attract the right buyers. 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.”

If you are buying a home in British Columbia, you may wonder what does a real estate lawyer do and why their role is essential. While your Realtor negotiates the contract and your lender arranges financing, your lawyer handles the legal transfer of ownership and ensures the transaction closes properly. Here is a clear breakdown of their role in the home buying process. Reviewing the Contract Once you have an accepted offer, your lawyer reviews the Contract of Purchase and Sale. They confirm key details such as: • Legal property description• Purchase price and deposit• Completion and possession dates• Included and excluded items If something does not align legally or financially, they flag it early. Conducting a Title Search One of the most important answers to what does a real estate lawyer do is this: they protect you from hidden legal issues. Your lawyer conducts a title search through the Land Title Office to confirm: • The seller has legal ownership• There are no unexpected liens or judgments• Registered charges, easements, or covenants are disclosed This ensures you receive clear title on completion. Coordinating With Your Lender Your mortgage lender sends instructions directly to your lawyer. The lawyer: • Prepares mortgage documents• Registers the lender’s charge on title• Ensures funds are transferred correctly Without this coordination, the lender will not release mortgage funds. Preparing Closing Documents Before completion, you will meet with your lawyer or notary to sign documents. These include: • Property transfer forms• Mortgage documents• Tax declarations• Adjustments statements Your lawyer calculates adjustments for property taxes, strata fees if applicable, and utilities. This ensures each party pays their fair share as of the completion date. Registering the Transfer On completion day, your lawyer: • Transfers purchase funds to the seller’s lawyer• Registers the property in your name• Registers the mortgage on title Only after registration is complete does ownership officially transfer. Explaining Closing Costs Your lawyer provides a detailed statement of adjustments outlining: • Property Transfer Tax• Legal fees• Title registration fees• Disbursements They ensure you understand the financial breakdown before closing. Lawyer vs Notary in BC In British Columbia, both real estate lawyers and notaries can handle standard residential closings. Lawyers may be preferable if the transaction involves: • Estate sales• Complex title issues• Divorce or separation matters• Corporate ownership structures For straightforward purchases, either professional can complete the process efficiently. Why Their Role Matters Understanding what a real estate lawyer does helps buyers appreciate how much legal protection is built into the process. They safeguard your funds, verify ownership, register your title, and ensure compliance with provincial requirements. Without this step, the transaction cannot legally close. The Bottom Line A real estate lawyer ensures your purchase is legally sound, financially accurate, and properly registered. Their work happens mostly behind the scenes, but it is critical to protecting one of your largest investments. If you are preparing to buy in Greater Victoria and want recommendations for trusted real estate lawyers or notaries, reach out anytime and we would be happy to connect you with experienced professionals. Lena N., 5-Star Review, via Google “I have worked with Scott and Zach on my listing and it has been a pleasure to work with both diligent and professional agents. They have been communicative and friendly as buyers agents. Hope to do more collaboration and deals with you both in the near 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, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

If you are considering Gordon Head real estate, this neighbourhood guide will help you evaluate whether it fits your goals. Located in Victoria, Gordon Head offers strong appeal for families and steady fundamentals for investors. With excellent schools, proximity to the university, and access to beaches and parks, Gordon Head real estate continues to attract long-term demand. Where Is Gordon Head? Gordon Head sits northeast of downtown Victoria, bordered by oceanfront parks and established residential streets. It is minutes from University of Victoria, which significantly shapes the local housing market. The neighbourhood features primarily detached homes, along with townhomes and secondary suites. Many properties sit on larger lots, and some offer ocean views. Why Families Choose Gordon Head Gordon Head has long been a top choice for families. Here is why: 1. Strong Schools The area includes well-regarded public schools such as: Gordon Head Middle School Lambrick Park Secondary School Access to quality education remains a key driver of Gordon Head real estate demand. 2. Parks and Outdoor Access Families benefit from nearby green space and waterfront access, including: Mount Douglas Park Cadboro-Gyro Park These amenities support an active lifestyle and add long-term value to properties in the area. 3. Safe, Established Streets Gordon Head is primarily residential, with quiet roads and mature landscaping. Many homes were built between the 1960s and 1990s, offering functional layouts and renovation potential. Why Investors Target Gordon Head From an investment standpoint, Gordon Head real estate offers several advantages. 1. University-Driven Rental Demand Proximity to the University of Victoria creates consistent demand for rental housing. Investors often purchase homes with suites or convert existing space to maximize rental income. 2. Stable Property Values Gordon Head has historically demonstrated resilient pricing compared to more volatile condo-heavy areas. Detached homes on larger lots tend to hold value well during market shifts. 3. Redevelopment and Upside Potential As housing demand increases across Greater Victoria, larger lots in established neighbourhoods become more attractive. Buyers seeking long-term appreciation often prioritize areas like Gordon Head for this reason. Housing Types and Price Considerations Most of the housing stock consists of: Detached single-family homes Homes with secondary suites Townhouses near main corridors Entry price points are typically higher than condo-focused neighbourhoods, but rental potential and lot value often justify the investment. For families, this means space and long-term stability. For investors, it means diversified income opportunities. Is Gordon Head Right for You? If you are seeking strong schools, outdoor amenities, and long-term property stability, Gordon Head real estate deserves serious consideration. Families benefit from community infrastructure, while investors gain access to reliable rental demand tied to the university. If you would like to explore current Gordon Head real estate opportunities or discuss whether this neighbourhood aligns with your goals, reach out to start the conversation. Michael F., 5-Star Review, via Google “We recently had the pleasure of working with Cal and Scott Faber, a remarkable father-son real estate team, to sell our premium family home and purchase a smaller, downsized property in an awesome neighbourhood. Their experience and guidance were invaluable in both pricing and strategizing the timing of our sale. The professionalism of their photography and marketing video team was unparalleled, making us feel like celebrities on an episode of MTV Cribs, they showcased our home in the best possible light at different times of the day. This attention to detail truly highlighted the features we loved about our home and revealed the value to our buyers..” 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.”