Posts Tagged ‘Victoria condo market’

If you are wondering how long is it taking to sell in Victoria right now, the short answer is that homes are still selling, but most are not moving at the speed sellers saw in hotter markets. In the Victoria Real Estate Board area, the median time on market in the first quarter of 2026 was 26 days for single-family homes, 31 days for townhouses, and 30 days for condominiums. At the same time, inventory has grown, which means buyers have more choice and sellers need a sharper strategy. That does not mean every property takes a full month to sell. It means the market is more measured. Some homes still move quickly when they are priced well, presented properly, and listed in a segment with strong demand. Others sit longer because buyers now have more room to compare options, ask questions, and negotiate. VREB reported 579 sales in March 2026, up 24.5 per cent from February but down 5.5 per cent from March 2025, while active listings rose to 3,261, up 7.9 per cent from a year earlier. What the Current Selling Timelines Look Like Here is the clearest snapshot from CREA’s Victoria market conditions data for Q1 2026: Single-family homes: 26 median days on market Townhouses and row homes: 31 median days on market Condominiums: 30 median days on market In plain English, that tells us most well-positioned listings are not sitting for months, but sellers should also not expect a first weekend bidding war just because the property hit the market. Why Homes Are Taking Longer Than Last Year The biggest reason is choice. Compared with the first quarter of 2025, the median days on market increased across all three major property types. Single-family homes rose from 22 days to 26, townhouses rose from 22.5 to 31, and condominiums rose from 26 to 30. CREA also reported higher months of inventory for each category, which lines up with a more balanced market where buyers can take more time before committing. VREB said current conditions are creating fewer high-pressure transactions and allowing more time for due diligence. That is an important shift. Buyers are still active, but they are less likely to rush and more likely to compare value, review documents carefully, and negotiate when something feels overpriced. What This Means for Sellers A realistic expectation today is not simply, “How fast will my home sell?” A better question is, “How well does my home fit what buyers want at this price point?” Homes tend to sell faster when they offer: strong pricing from day one clean presentation and good photography a property type and location with steady demand fewer obvious objections around condition, strata documents, or layout Homes tend to take longer when they have: optimistic pricing based on old market expectations too much competition nearby dated presentation issues buyers think will cost them money after closing This is why two homes in the same neighbourhood can have very different timelines. Detached, Condo, and Townhouse Sellers Are Not Facing the Same Market Detached homes are moving a bit faster than condos and townhouses based on Q1 median days on market, but the gap is not huge. Detached homes came in at 26 days, compared with 30 for condos and 31 for townhouses. That said, property type is only part of the story. Price range, neighbourhood, strata health, parking, updates, and monthly carrying costs all affect how buyers respond. In a market with more inventory, buyers become more selective about compromises. The Mistake Sellers Make Right Now The most common mistake is assuming “average” means their home will sell quickly no matter what. Today’s Victoria market is more forgiving for buyers, not sellers. VREB’s March 2026 numbers show more listings and slower year-over-year sales, which means pricing and preparation matter more than they did in tighter conditions. A listing that starts too high can lose momentum, sit longer, and end up chasing the market down. So, How Long Is It Taking to Sell in Victoria Right Now? If you want the simple answer, the current median timeline is about four weeks, depending on property type: detached homes: about 26 days condos: about 30 days townhouses: about 31 days That is the broad market view. Your home could sell faster or slower depending on price, presentation, location, and competition. Final Thought The Victoria market is still active, but it is no longer a market where sellers can rely on urgency alone. If you want the best result, the goal is not just to list. It is to launch with the right price, the right presentation, and the right expectations from the start. If you want to know how your home would likely perform in today’s market, contact Faber Real Estate Group for a tailored pricing and selling strategy.   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.”  

If you have been waiting for the right time to buy, the current Victoria real estate market deserves a closer look. The opportunity right now is not really about chasing a dramatic price drop. It is about something more practical: more choice, more negotiating room, and more time to make careful decisions than buyers have had in years. In Greater Victoria, 579 properties sold in March 2026 while active listings climbed to 3,261, creating a sales-to-active-listings ratio of about 17.8 per cent. That sits at the low end of the Victoria Real Estate Board’s balanced-market range and points to a market that feels far more manageable for buyers than the high-pressure conditions many remember. That matters because the best buying opportunities do not always show up when prices are falling sharply. In Victoria, benchmark prices have stayed relatively steady. The Victoria Core benchmark for a single-family home was $1,330,200 in March 2026, down 1.1 per cent from a year earlier, while the benchmark condo value was $553,800, down 0.8 per cent year over year. Prices have softened only modestly, but the bigger shift is that buyers now have more room to think, compare, and negotiate. More Inventory Changes the Conversation For a long time, many buyers in Greater Victoria felt pushed into fast decisions. Low inventory, tight timelines, and heavy competition created an environment where hesitation could mean missing out. That is not what this market looks like today. Active listings were up 7.9 per cent year over year at the end of March, and the Victoria Real Estate Board described current conditions as offering plentiful opportunity for both buyers and sellers, with fewer high-pressure transactions and more time for due diligence. That shift matters. More inventory does not guarantee a deal on every property, and it does not mean sellers have lost all leverage. What it does mean is that buyers can be more selective about location, layout, condition, and long-term fit. They can compare several options instead of forcing one property to work simply because there are no alternatives. In practical terms, that often leads to better decisions. A Better Buying Setup Does Not Mean an Easy Market Balanced conditions are different from a distressed market. Buyers still need to be realistic about pricing, financing, and the fact that well-positioned homes can attract strong interest. But balanced conditions do create a healthier process. The market is still active, with March sales up 24.5 per cent from February, yet the supply side remains strong enough to reduce some of the urgency that defined earlier years. That combination gives prepared buyers a better chance to move strategically instead of emotionally. This is where many people misread the market. They assume a good time to buy only happens when prices are falling hard or headlines sound negative. In reality, some of the strongest buying windows happen when prices are relatively stable but buyers gain better access to inventory and better negotiating conditions. That is much closer to what Victoria looks like right now. Why Breathing Room Matters So Much The real advantage in today’s market is not that every home is cheap. It is that buyers can act with more discipline. They can book an inspection without feeling rushed. They can review strata documents or title details more carefully. They can negotiate on price, dates, or conditions with more confidence. And they can walk away from the wrong property without feeling like they have lost their only chance. VREB has explicitly noted that current supply and demand levels are allowing both sides of the sale to make decisions and undertake due diligence with less pressure. That breathing room can be especially valuable for first-time buyers, upsizers, downsizers, and anyone trying to buy with a plan rather than from fear of missing out. A more workable market does not remove risk, but it does improve the quality of decision-making. Prepared Buyers Still Have the Advantage A better market for buyers still rewards preparation. The strongest buyers in this environment are the ones who understand their financing, know their comfort level, and have clarity around what matters most in a home. When the right property comes up, they can act decisively. When a property is overpriced or not the right fit, they can step back without panic. That is one of the biggest changes from the urgency-driven market many buyers still have in mind. This market is less about reacting fast and more about recognizing value clearly. Buyers who are organized and informed can use these conditions to make smarter, more confident decisions. A Smart Way to Think About Buying in 2026 Instead of asking whether everything feels perfect right now, a better question is whether conditions are more favourable for buyers than they have been in recent years. In Greater Victoria, the answer is increasingly yes. Inventory remains healthy, prices have been relatively steady, and the market is giving buyers more space to compare options and negotiate thoughtfully. Provincially, BCREA said inventory is running near its highest level in over a decade, with just over 40,000 homes for sale across BC, which should help keep broader market conditions balanced through 2026. That does not mean every buyer should rush into the market. But for people who are financially ready and planning for the long term, this may be one of the more practical buying windows Victoria has offered in a while. Not because the market is weak, but because it is more balanced, more navigable, and less driven by pressure. Final Thoughts The current market will not be the right fit for every buyer. But for those who are prepared, patient, and focused on long-term goals, today’s Victoria market may offer something that has been missing for a long time: more selection, less frenzy, and a better chance to buy with clarity. If you want help building a smart buying plan in today’s market, contact Faber Real Estate Group for advice on where the real opportunities are in Greater Victoria. Wilson, 5-Star Review, via Google “Amazing people there! They will help you through the entire process and will always make you feel like family. For those first time home buyers, don't be intimidated entering the market because they will explain every process and guide you through.” 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 Tillicum and Gorge area continues to attract buyers looking for affordability without sacrificing location. In 2026, balanced market conditions have increased buyer choice, making this area especially appealing for first-time buyers, downsizers, and value-focused investors. Tillicum and Gorge real estate benefits from strong transit links, central positioning, and pricing that remains more attainable than many core Victoria neighbourhoods. Why Buyers Look to Tillicum and Gorge This area sits just minutes from downtown Victoria, Uptown, and the Trans-Canada Highway. Key advantages include: Easy access to major employment hubs Strong public transit and cycling routes Proximity to parks, the Gorge Waterway, and shopping For buyers who want convenience without downtown pricing, the location remains a major draw. Affordability Compared to Core Neighbourhoods Tillicum and Gorge continue to offer some of the most accessible price points within the urban core. Buyers typically find: Condos priced below downtown and Fairfield averages Townhomes that appeal to first-time buyers Older single-family homes with renovation potential In 2026, longer days on market have improved negotiating conditions, particularly for condos. Condo Market and Entry-Level Options The condo segment dominates much of the housing stock. Many buildings offer: Larger floor plans compared to newer developments More reasonable strata fees Strong rental appeal due to central location For buyers entering the market, Tillicum and Gorge real estate often provides a practical first step into ownership. Accessibility and Daily Convenience Accessibility remains one of the area’s strongest features. Residents benefit from: Direct transit routes to downtown and UVic Walkable access to Tillicum Centre and Uptown Quick connections to the West Shore and Peninsula This connectivity supports both owner-occupiers and long-term rental demand. What Buyers Should Watch in 2026 While affordability remains a strength, buyers should still review: Strata documentation and contingency funds Upcoming maintenance in older buildings Zoning and redevelopment potential along key corridors Well-priced properties continue to sell, while overpriced listings often sit longer. Final Thoughts Tillicum and Gorge real estate offers a compelling mix of affordability and accessibility in 2026. For buyers who value central location, transit access, and realistic pricing, this area remains one of Greater Victoria’s most practical options. Gary B., 5-Star Review, via Google “We bought a apartment and sold an apartment through Faber Group. It was a pleasure working with them, sold our apartment in one day at full price. No request was too much for them.” 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 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.”

Downtown Victoria condo living continues to attract buyers looking for convenience, walkability, and a low-maintenance lifestyle. With shops, restaurants, the Inner Harbour, and cultural amenities close at hand, downtown condos offer a lifestyle that appeals to a wide range of buyers. However, this type of housing also comes with trade-offs that are important to understand before purchasing. Pros of Downtown Victoria Condo Living One of the biggest advantages of Downtown Victoria condo living is location. Many residents can walk to work, dining, entertainment, and daily services, reducing reliance on a car. This convenience is a major draw for professionals, downsizers, and part-time residents. Low-maintenance living is another key benefit. Exterior upkeep, landscaping, and building maintenance are typically handled by the strata, which can be appealing for buyers who want fewer responsibilities. Condos also often include secure entry, elevators, and shared amenities that add comfort and ease. Downtown condos can also offer strong long-term appeal. Demand for central locations tends to remain consistent, which can support resale value over time. Cons to Consider Before Buying While Downtown Victoria condo living offers many benefits, there are also limitations. Space is often more compact compared to single-family homes, which may not suit buyers who need extra storage or room to grow. Strata fees are another important factor. These fees cover maintenance and amenities but add to monthly housing costs. Buyers should review strata documents carefully to understand what is included and assess the financial health of the building. Noise and activity levels can also be higher downtown. Proximity to nightlife, traffic, and events may be a downside for buyers seeking a quieter environment. Key Buyer Considerations When evaluating Downtown Victoria condo living, building age and management matter. Newer buildings may offer modern finishes and energy efficiency, while older buildings can provide larger floor plans but may require higher maintenance contributions. Buyers should also consider parking, storage, and pet policies, as these can vary significantly between buildings. Understanding strata rules early can help avoid surprises later. Is Downtown Condo Living the Right Fit? Downtown Victoria condo living suits buyers who value location, simplicity, and an active urban lifestyle. For those comfortable with shared spaces and strata living, it can be a practical and rewarding choice. Taking the time to weigh the pros, cons, and buyer considerations will help ensure this lifestyle aligns with your long-term goals.   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.”