Posts Tagged ‘Greater Victoria real estate trends’

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

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