Posts Tagged ‘Victoria condos’

The Victoria real estate market in August 2026 is entering the second half of summer with plenty of inventory, steady buyer activity, and more room for negotiation in certain parts of the market. July gave us a useful starting point. A total of 673 properties sold across the Victoria Real Estate Board region, while 3,847 active listings remained available at the end of the month. Sales slowed slightly from June, but buyers remained active. So, what could August bring? The most likely scenario is not a dramatic market shift. Instead, we expect many of the trends seen through early summer to continue: buyers remaining selective, inventory gradually tightening, and properly priced homes continuing to outperform listings that miss the market. August Market Outlook at a Glance Based on July's market conditions, August could bring: Slightly fewer new listings as summer continues Continued selection for buyers across many property types More negotiation opportunities on homes that have been sitting Stronger activity around well-priced and well-presented properties Continued competition among condo sellers Relatively stable financing conditions heading into September August is also likely to remain highly dependent on the individual neighbourhood, property type, and price range. Inventory Could Begin to Tighten One number worth watching closely is inventory. Greater Victoria ended July with 3,847 active listings, down from the 4,054 listings available at the end of June. That does not mean buyers are suddenly running out of options. However, it may signal the beginning of the normal late-summer shift as fewer homeowners choose to launch listings during vacation season. If new listings slow while buyers remain active, some of the best properties could face stronger competition. For buyers waiting for significantly more selection later in August, there is no guarantee that will happen. Buyers May Continue to Have Negotiating Room More inventory has changed the way many buyers approach the market. Rather than feeling pressure to make an offer simply because a suitable home becomes available, buyers can often compare multiple properties and determine where the strongest value exists. That can create opportunities to negotiate beyond the purchase price, including: Possession dates Included items Repairs Subject periods Deposits Closing timelines However, negotiation power depends heavily on the property. A home that has been sitting for several weeks with limited activity may offer considerably more flexibility than a well-priced property that has just reached the market. Internal link: What Buyers Should Negotiate Beyond the Purchase Price The Best Homes Could Still Sell Quickly More inventory does not automatically mean every home will sit on the market. One of the clearest patterns we continue to see is the difference between properties that are positioned properly and those that are not. Buyers have more choices, which means they can quickly compare price, condition, location, layout, and overall value. Homes that check several of those boxes can still generate strong interest. Meanwhile, an overpriced property may sit even when similar homes nearby are selling. Condo Sellers May Face More Competition The condo market remains one area worth watching closely in August. July saw 209 condo sales, down 7.1% from July 2025. By comparison, single-family home sales increased year over year. That difference does not mean condos are performing poorly everywhere. Instead, buyers often have more comparable options available within the same building, neighbourhood, or price range. For condo sellers, small differences can matter. Floor plan, orientation, parking, storage, strata condition, fees, building reputation, and asking price can all influence which unit a buyer chooses. Internal link: Why Condos Are Facing More Competition in Victoria Right Now Prices Are Likely to Remain Relatively Stable The Victoria Core benchmark price for a single-family home was $1,311,000 in July, down from $1,326,500 in June. The benchmark condo price reached $548,600, compared with $549,200 in June. Those movements point toward a market experiencing some price pressure rather than a sharp correction. For August, buyers and sellers should pay more attention to recent comparable sales than broad regional headlines. Greater Victoria is made up of many smaller markets. A detached home in Saanich East can behave differently from a condo in downtown Victoria or a townhouse in Langford. Interest Rates Should Provide Some Stability Financing will continue to influence buyer confidence. The Bank of Canada held its policy interest rate at 2.25% on July 15, and there is no scheduled rate announcement during August. The next decision is scheduled for September 2, 2026. That does not mean mortgage rates cannot change during August, since fixed mortgage rates are influenced by bond markets rather than directly following the Bank of Canada overnight rate. Still, the absence of a Bank of Canada decision during the month removes one potential source of uncertainty for buyers actively shopping now. What August Means for Buyers August could be a useful window for buyers who are prepared but patient. There is still enough inventory in many parts of Greater Victoria to compare options, while some sellers who listed earlier in the summer may become more open to negotiating. The key is separating a genuine opportunity from a property that is simply priced poorly. Before making an offer, look at: Recent comparable sales Current competing listings Days on market Previous price adjustments Property condition Monthly ownership costs Potential upcoming repairs Long-term resale considerations The goal is not simply to get a discount. It is to buy the right property at terms that make sense. What August Means for Sellers For sellers, August is less about waiting for the market to do the work and more about positioning your property correctly. Buyers currently have enough selection to recognize when something feels overpriced. A strong August listing strategy should consider the homes currently competing for the same buyer, not simply what similar properties sold for several months ago. Presentation also matters. When buyers have choices, photography, condition, floor plan, maintenance, staging, and pricing all contribute to the first impression. Should You Buy or Sell in August? There is no universal answer. August may make sense for a buyer who finds the right property and has room to negotiate. It may also be a strong time for a seller whose home faces limited direct competition. For someone with flexibility, waiting for the fall market may offer different opportunities as more buyers and sellers return after summer. The better question is not whether August is a good month for real estate. It is whether current conditions are favourable for your particular property, price range, neighbourhood, and goals. Internal link: Should Victoria Buyers Act Now or Wait for the Fall Market? Planning a Move This August? If you are considering buying or selling in Greater Victoria this month, we can look beyond the regional numbers and break down what is happening in your specific market. Whether you are comparing listings, deciding when to make an offer, or trying to determine how your home should be positioned against current competition, having current neighbourhood-level information can make the decision much clearer.   Darcy M., 5-Star Review, via Google ⭐⭐⭐⭐⭐ “I highly recommend the Faber Group and particularly Zach Parsons to anyone looking to buy or sell a home in the Victoria area. Over the past year, Zach has helped my wife and I purchase two homes, and both experiences were exceptional from start to finish. Zach is obviously knowledgeable about the Greater Victoria area, and his knowledge of the Victoria real estate market is a testament to dedication to his job and his clients." 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 Victoria real estate market in July 2026 continued to give buyers plenty of choice while still producing a solid level of sales activity. A total of 673 properties sold across the Victoria Real Estate Board region in July, just 1% fewer than July 2025 and 6.4% fewer than June. At the same time, 3,847 active listings remained on the market at month-end - 3.9% more than one year earlier. (Victoria Real Estate Board) The takeaway is not that Greater Victoria has suddenly become a slow market. Instead, buyers have more options, sellers have more competition, and individual properties are behaving very differently depending on location, property type, condition, and price. July 2026 Market at a Glance According to the Victoria Real Estate Board: 673 total sales - down 1% year over year 331 single-family home sales - up 4.1% year over year 209 condo sales - down 7.1% year over year 82 townhouse sales - down 15.5% year over year 3,847 active listings - up 3.9% year over year, but down 5.1% from June Victoria Core single-family benchmark: $1,311,000 Victoria Core condo benchmark: $548,600 Victoria Core townhouse benchmark: $857,300 VREB also noted that July sales finished above the five-year average for the month, despite the greater amount of inventory available to buyers. (Victoria Real Estate Board) More Choice Is Changing Buyer Behaviour The biggest story continues to be selection. While active inventory eased from June, buyers still had more properties available than they did at the same point last year. That gives many buyers more time to compare homes rather than feeling pressured to act immediately. However, more inventory does not mean every seller is highly negotiable. Well-priced homes in desirable locations can still attract attention quickly. The difference is that buyers now have more alternatives when a property feels overpriced, needs substantial work, or does not compare favourably with competing listings. This is especially noticeable in the condo market. Condo sales fell 7.1% from July 2025, while detached home sales actually increased 4.1%. That difference reinforces why looking at Greater Victoria as one single market can be misleading. (Victoria Real Estate Board) For a closer look at this segment, read Why Condos Are Facing More Competition in Victoria Right Now. Read the condo market article Prices Continued to Soften in the Victoria Core The MLS® HPI benchmark for a single-family home in the Victoria Core reached $1,311,000 in July, down 2.8% from $1,348,400 one year earlier and down from $1,326,500 in June. For condos, the July benchmark was $548,600, down 2.2% year over year and only slightly below June's $549,200 benchmark. (Victoria Real Estate Board) These numbers suggest some price pressure, but they should not be interpreted as meaning every home has dropped by the same amount. A renovated family home in Saanich, a downtown condo, an Oak Bay character home, and a newer Langford townhouse can all face very different levels of competition. That is why understanding your specific micro-market matters more than relying on one regional number. Why Greater Victoria Real Estate Is So Micro-Market Specific What July's Market Means for Buyers For buyers, the Victoria real estate market in July 2026 offered something valuable: time to compare. In many segments, buyers can look more closely at: Recent comparable sales Competing active listings Property condition and upcoming maintenance Strata documents and financials Monthly ownership costs Days on market Price reductions Offer terms and possession dates Long-term resale potential The opportunity is not simply to negotiate the lowest price. It is to use the additional selection to find the property offering the strongest combination of price, condition, location, and long-term fit. What July's Market Means for Sellers For sellers, additional inventory means your home needs a clear reason for buyers to choose it. Pricing based solely on what a neighbour sold for six months ago can create problems. Today's buyers are comparing your property with what else they can purchase right now. Strong results are still possible, but three factors matter considerably: 1. Pricing Your asking price needs to reflect current competing inventory and recent sales. 2. Presentation When buyers have several options, condition, photography, maintenance, layout, cleanliness, and overall presentation can influence which homes make the shortlist. 3. Positioning Every property has different strengths. The goal is to understand which buyer is most likely to value those strengths and build the marketing strategy around them. The Bottom Line July was not an inactive month. 673 sales and activity above the five-year July average show that buyers are still making moves. What has changed is how much choice they have while making those decisions. (Victoria Real Estate Board) For buyers, that can create better opportunities to compare, complete due diligence, and make thoughtful decisions. For sellers, it raises the importance of competitive pricing and strong presentation from the moment the property reaches the market. Most importantly, Greater Victoria remains a collection of individual micro-markets. Whether conditions favour you depends far more on your neighbourhood, property type, price range, and competition than on a single regional headline. Wondering What July's Market Means for Your Move? If you are considering buying or selling in Greater Victoria, we can break the July numbers down to the level that actually matters - your neighbourhood, property type, price range, and current competition. Contact Faber Real Estate Group for a current market analysis and a strategy based on the homes buyers and sellers are competing with today. Nicholas D., 5-Star Review, via Google ⭐⭐⭐⭐⭐ “Scott is an awesome realtor and real estate advisor. He got me all the information I needed incredibly quick and helped me make an informed buying decision. Couldn’t have done it without him and 10/10 will be recommending him to my friends and family! There are thousands of realtors on the island, but Scott and his team are by far the best” 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.” Market statistics sourced from the Victoria Real Estate Board's August 4, 2026 July market report. VREB cautions that market statistics show broader trends and do not establish the value of an individual property. (Victoria Real Estate Board)  

When comparing homes, buyers naturally look at square footage. However, floor plan matters more than square footage when the goal is finding a home that actually works for everyday life. Two homes can have nearly identical square footage and feel completely different. One may have open living areas, useful storage, well-sized bedrooms, and very little wasted space. Meanwhile, the other may lose valuable square footage to hallways, awkward corners, oversized entrances, or rooms that are difficult to furnish. Square footage tells you how much space exists. The floor plan tells you how useful that space actually is. The Short Answer A well-designed smaller home can feel more functional than a larger home with an inefficient layout. When comparing floor plans, consider: How much space is actually usable Bedroom size and placement Storage Hallways and circulation space Kitchen functionality Furniture placement Natural light Privacy between rooms Flexibility for future needs Resale appeal Instead of asking only, “How many square feet is it?” ask, “How well does this home use the square footage it has?” Not All Square Footage Works the Same Imagine two condos that are both 900 square feet. The first has an open kitchen and living area, two well-proportioned bedrooms, a walk-in closet, useful entry storage, and a compact hallway. The second has a long entrance corridor, awkward corners, limited closets, and a large primary bedroom that leaves the living room feeling tight. On paper, they are the same size. In practice, they may feel completely different. That difference becomes especially important with condos and townhomes, where every square foot has to work harder. Watch for Wasted Space Some floor plans dedicate a surprising amount of space to areas that have limited everyday use. Long hallways are one example. Oversized entryways, unusual angles, dead corners, and poorly positioned doors can also reduce how much of the home feels usable. Of course, circulation space is necessary. The goal is not to eliminate hallways entirely. Instead, look at how efficiently the home connects one area to another. A 750-square-foot condo with an efficient layout may offer more practical living space than an 850-square-foot condo with significant wasted space. Room Dimensions Matter A floor plan can also reveal something the total square footage cannot: where the space actually went. For example, a larger condo may have most of its additional square footage concentrated in the primary bedroom or entrance. That extra space may not help a buyer who wants a larger living room or home office. Therefore, look beyond the total. Consider whether individual rooms can comfortably accommodate the furniture you already own or expect to use. Ask yourself: Can the bedroom fit a queen or king bed comfortably? Is there space for bedside tables? Can the living room accommodate a sofa without blocking doors? Is there a practical place for a dining table? Can a desk fit somewhere without taking over another room? These details often determine whether the home feels comfortable after move-in. Furniture Placement Can Change Everything Staging can make a home look functional. Your furniture may tell a different story. Windows, doors, fireplaces, kitchen islands, baseboard heaters, and patio entrances all affect where furniture can go. As a result, a large living room may provide surprisingly few options for placing a sofa and television. Meanwhile, a smaller rectangular living room may be much easier to furnish. Before buying, imagine the room empty. Then think about how your furniture would actually fit. Measurements can be far more useful than relying on how large a room appears during a showing. Storage Is Part of the Floor Plan Storage does not always receive enough attention during a home search. Yet storage can dramatically change how spacious a home feels. A slightly smaller property with a proper entry closet, pantry, bedroom closets, linen storage, in-suite storage, or a dedicated locker may function better than a larger home where everyday belongings need to occupy living space. This becomes even more important when moving from a detached home into a condo or townhome. The question is not simply how much space you have. It is where everything will go. Bedroom Placement Affects Privacy The location of rooms matters too. For instance, bedrooms positioned on opposite sides of a condo may work well for roommates, guests, or someone working from home. Alternatively, families with young children may prefer bedrooms closer together. Similarly, a bedroom directly beside a living room or kitchen may experience more noise than one located down a hallway. Neither arrangement is automatically better. However, the layout should fit the way you plan to use the home. Natural Light Can Change How Large a Home Feels Square footage measures floor area, but it does not measure how a room feels. Natural light can make a smaller space feel brighter and more open. Window placement, ceiling height, exposure, and sightlines through the home can all influence that feeling. By comparison, a larger home with limited windows or darker interior rooms may feel more confined. Therefore, buyers should consider both measurable space and perceived space. Both affect how enjoyable the home may be to live in. Open Concept Is Not Always Better Open layouts remain popular, but openness should not automatically be confused with functionality. An open kitchen and living room may create better flow and make a smaller home feel larger. However, some buyers value separation. A dedicated office, defined dining space, separate kitchen, or second living area may be more useful depending on the household. The better floor plan is not necessarily the most open. It is the one that creates the right balance between connection and separation for the people living there. Think About How Your Needs Could Change A good floor plan should work today. Ideally, it also offers some flexibility for tomorrow. A den might become an office, nursery, guest room, or additional storage space. Likewise, a second bedroom might serve several purposes over the years. Flexible space can become particularly valuable when moving again would be expensive or inconvenient. As a result, buyers should consider whether the home can adapt as work, family, hobbies, or lifestyle needs change. A Bigger Home Can Still Feel Smaller This is why floor plan matters more than square footage in many buying decisions. More square footage can be valuable, but only when that additional space improves how the home functions. If another 100 square feet consists mostly of hallways, oversized rooms you do not need, or awkward areas you cannot use, it may provide less value than expected. At the same time, buyers should consider the full cost of that additional space. A larger home may mean a higher purchase price, larger strata fees, more furniture, higher utilities, or increased maintenance. Our article on Why Your Monthly Payment Matters More Than the Purchase Price looks at why the overall cost of ownership deserves as much attention as the price itself. Floor Plan Can Affect Resale Too Eventually, future buyers will evaluate the layout as well. Functional floor plans tend to appeal to a broader range of people because they make everyday use easier. Common considerations include: Practical bedroom sizes Useful storage Good natural light Limited wasted space Clear furniture placement Separation between private and living areas Flexible rooms Easy access to outdoor space Buyer preferences will vary. Still, a practical layout is often easier to understand and use than one that requires compromises from the moment someone walks through the door. Compare How the Homes Live, Not Just Their Numbers When deciding between two properties, try comparing them without looking at the total square footage first. Where Would We Spend Most of Our Time? Is enough space allocated to those rooms? Where Does Everything Go? Are storage and closets adequate? Can We Furnish It Properly? Do room dimensions and wall locations work? Does the Layout Fit Our Lifestyle? Consider privacy, entertaining, working from home, children, pets, and guests. Could It Still Work in Five Years? Look for flexibility rather than only today’s needs. Once you have answered those questions, the square footage number has much more context. Final Thoughts Square footage is useful, but it should not decide which home is better. A thoughtful floor plan can make a smaller property feel comfortable, practical, and surprisingly spacious. On the other hand, inefficient design can make a larger home feel tighter than expected. That is why buyers should compare how each home actually functions. Look at the room sizes. Consider furniture placement. Check the storage. Think about natural light, privacy, and flexibility. The best home is not necessarily the one with the most square footage. It is the one that uses its space in a way that fits your life. Comparing homes with similar square footage but very different layouts? Faber Real Estate Group can help you look beyond the numbers and compare functionality, location, monthly costs, resale considerations, and the trade-offs that may matter most over the years you own the home.   Nilo M., 5-Star Review, via Google “This group have a high level of commitment to help and to put thier client’s need ahead of their personal gain. They deal and engage with integrity and wisdom on how it will work for both the seller and the clients. I experienced it first hand in this crazy and difficult season. We just bought a home at Glanford area, and they are always there for us, every step of the way. They are real and can be trusted.”   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.”

When you compare condo buildings before you buy, it is easy to focus mostly on the units themselves. One has a better kitchen. Another has a larger balcony. One has newer flooring, while the other has a better view. Those differences matter. But when two condos are reasonably close in price and location, the better purchase may have less to do with the countertops and more to do with the building behind them. A condo purchase includes the suite, the strata corporation, shared property, future maintenance obligations, rules, finances, insurance, parking, storage, and the way the building may appeal to future buyers. The Short Answer When comparing two condo buildings, look beyond which unit shows better. Compare: Strata finances and contingency reserve funds Depreciation reports and upcoming work Meeting minutes and maintenance history Strata fees and what they actually cover Insurance Bylaws and rules Parking and storage Building age, construction, and systems Amenities and their ongoing cost Location and resale appeal The strongest condo is not always the newest building or the one with the lowest strata fee. It is the one where the overall package makes sense. Start With How the Buildings Are Managed A well-managed building often leaves clues. Look through council meeting minutes and annual general meeting records. You are trying to understand how the strata responds when problems arise. Does maintenance happen proactively? Are repairs repeatedly delayed? Do the same issues appear month after month? Are owners regularly debating unexpected costs? No building will have perfect minutes. Repairs, complaints, and maintenance are normal parts of shared ownership. The bigger question is whether the strata appears organized and willing to deal with issues before they become more expensive. Compare the Financial Position, Not Just the Strata Fee Buyers often assume the building with the lower monthly fee is better value. That can be misleading. A lower fee may be perfectly reasonable if the building is simpler to operate. It may have fewer amenities, newer systems, or lower operating costs. But low fees can also mean less money is being collected for future expenses. Compare the contingency reserve fund, annual budget, recent spending, planned projects, and how the building intends to fund larger repairs. A higher monthly fee can sometimes provide more predictability if it supports proper maintenance and long-term planning. The question is not: “Which building has cheaper strata fees?” It is: “What am I getting for the fee, and is the building financially prepared for what comes next?” Read the Depreciation Report With the Building’s History A depreciation report can help identify major building components, expected replacement timelines, projected costs, and possible funding approaches. But do not read it by itself. Compare it against the meeting minutes and completed work. If a report identified window replacement several years ago, has anything happened since? If the roof was expected to need attention, was it repaired, replaced, or deferred? If major projects are approaching, how does the strata plan to pay for them? Two buildings of the same age can have very different financial outlooks depending on what has already been completed and what remains ahead. Look at Maintenance, Not Just Age Newer does not automatically mean better. Older does not automatically mean risky. An older building that has consistently replaced roofs, elevators, plumbing, windows, balconies, or other major components may compare favourably with a newer building that has delayed maintenance. The age of the building gives you context. The maintenance history tells you more. This is one reason buyers should avoid making decisions based simply on the year built. Compare What the Strata Fees Include Two buildings may have similar fees but very different operating structures. One may include: Hot water Heating Gas Building insurance Caretaker services Landscaping Fitness facilities Guest suites Pool or recreation areas Another building may offer very few shared services. Neither is automatically better. Buyers should compare the full monthly cost and decide whether they are actually getting value from what the building provides. This also connects to Why Your Monthly Payment Matters More Than the Purchase Price. The purchase price is only one part of what a home costs to own. Amenities Have a Cost A rooftop patio, swimming pool, gym, guest suite, concierge, landscaped courtyard, or multiple elevators can add lifestyle value. They also need to be maintained. Ask yourself whether you will actually use the amenities and whether they strengthen the building's appeal enough to justify their ongoing cost. A simpler building with fewer amenities may suit a buyer who values lower operating complexity. Another buyer may happily pay more for a building that provides amenities they will use every week. Value depends on how the building fits your lifestyle. Compare the Rules Before You Fall in Love With the Unit Bylaws can make two similar condos function very differently. Check rules relating to: Pets Rentals Smoking Renovations Flooring Barbecues Parking Storage EV charging Move-in procedures Use of balconies and common areas A condo can be beautiful and still be the wrong home if the building's rules conflict with how you plan to live. Understanding the bylaws before removing conditions is much easier than discovering restrictions after possession. Parking and Storage Can Separate Two Similar Buildings Parking and storage sometimes look like secondary features during the search. They often become much more important over time. Consider whether parking is secure, underground, EV-ready, easy to access, and clearly associated with the unit. Then look at storage. Is there a locker? Bike storage? Space for outdoor equipment? Enough room for the lifestyle you actually have? Our guide to Why Parking and Storage Matter When Buying a Condo looks more closely at why these practical features can also influence resale appeal. Think About Insurance and Future Costs Insurance deserves attention because the strata's coverage, deductible structure, and claims history can affect owners. Buyers should understand the building's insurance information and speak with their own insurance provider about coverage for the individual unit. The goal is not to find a building with zero risk. It is to understand the risk before making the purchase. That same thinking applies when deciding whether something is a reasonable compromise or a concern that deserves more attention. Our Buyer Compromises vs Red Flags guide can help put those trade-offs into perspective. Look at the Building Through a Future Buyer's Eyes You may love both units today. But eventually, another buyer may be comparing them too. Consider: Building reputation Location Parking availability Storage Pet rules Layouts Exterior condition Common areas Strata fees Amenities Maintenance history Upcoming capital projects A well-located, well-run building with practical features can appeal to a broad buyer pool even if the individual unit is not the most renovated one on the market. Cosmetic finishes can change. The building is much harder to change. Do Not Automatically Choose the Prettier Condo Imagine two units at a similar price. Condo A has a renovated kitchen and newer flooring, but the building has upcoming major work, limited reserves, higher operating complexity, and unclear maintenance planning. Condo B has an older kitchen, but the building has a strong maintenance history, clear financial planning, secure parking, useful storage, and recent major upgrades. Condo A may photograph better. Condo B may deserve the closer look. That does not mean Condo B is automatically the right choice. It means buyers should separate cosmetic value from building-level value. Build a Simple Comparison When you compare condo buildings before you buy, score each one across five areas. 1. Financial Health Is the strata preparing for future costs? 2. Building Condition What has already been completed, and what may be coming? 3. Lifestyle Fit Do the bylaws, amenities, parking, storage, and location work for you? 4. Monthly Cost What will ownership actually cost beyond the mortgage? 5. Resale Flexibility Would the building appeal to a reasonably broad group of future buyers? This type of comparison can make the decision much clearer than simply choosing the unit with the nicer finishes. Final Thoughts Comparing condos means comparing much more than bedrooms, square footage, and finishes. The better building may have stronger finances, clearer maintenance planning, more useful features, better rules for your lifestyle, or greater resale flexibility. Sometimes that means choosing the unit with the nicer kitchen. Sometimes it means choosing the slightly less impressive unit in the building you would rather own for the next ten years. Good condo buying is not about finding a building with no problems. It is about understanding the differences well enough to decide which set of trade-offs you are comfortable owning. Comparing two condos and unsure which building is actually the stronger choice? Faber Real Estate Group can help you compare the strata documents, financial position, maintenance history, practical features, and recent sales so you can look beyond the suite and understand what you would really be buying.   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 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.”

When buying a condo in Victoria, parking and storage are more than small extras. They can affect your daily convenience, future resale appeal, and how well the property fits your lifestyle over time. When buyers first look at condos, they often focus on the obvious things. Price. Location. Layout. Finishes. View. Building amenities. Monthly strata fees. Those details matter, but parking and storage still deserve careful attention. In Greater Victoria, where many buyers are comparing condos in walkable urban areas, newer Westshore buildings, older strata properties, and downsizer-friendly communities, the practical features can make a big difference. A condo without proper parking or storage may still be the right home. But buyers should understand what they are accepting before they write an offer. Why Parking Still Matters Some buyers assume parking is becoming less important because more people are walking, biking, taking transit, or working from home. For some lifestyles, that may be true. But in Greater Victoria, parking still matters for many condo buyers. Even if you do not drive every day, a secure parking stall can support your lifestyle, protect resale appeal, and make the home easier to use. Parking can matter if you: Commute to work Have children or family nearby Travel between municipalities Own recreational gear Work shifts or irregular hours Need reliable access to a vehicle Plan to rent or resell the condo in the future Want better convenience during poor weather Have visitors, caregivers, or service providers coming to the building A condo in a highly walkable area may still appeal without parking. But the buyer pool can become smaller. That is the key point. Parking may not matter equally to every buyer, but it often matters to enough buyers that it should be part of the value discussion. Storage Is More Important Than Many Buyers Expect Storage is one of those things buyers often underestimate until they move in. A condo can feel spacious during a showing, especially if it is professionally staged or lightly furnished. Once real life enters the space, storage becomes more noticeable. Where do the bikes go? What about seasonal decorations, luggage, golf clubs, paddleboards, tools, camping gear, files, winter tires, sports equipment, or extra household items? For downsizers, storage can be even more important. Moving from a detached home into a condo often means adjusting from a garage, crawlspace, shed, spare bedroom, or basement into a smaller living footprint. A storage locker can help make that transition easier. It can also help keep the suite itself feeling calm and functional. Parking and Storage Can Affect Resale Appeal Resale value is not only about what you like. It is also about what the next buyer may need. A condo with secure parking and a storage locker may appeal to a wider group of buyers than a similar unit without them. This can matter when it is time to sell, especially if competing listings offer more complete packages. In a market where buyers have more choice, practical features can help a property stand out. The Victoria Real Estate Board reported 4,054 active listings at the end of June 2026, up 7.3% from June 2025, giving buyers more options across the region. More choice does not mean every buyer will demand parking and storage. It does mean buyers may compare the full package more carefully. Two condos may look similar online, but if one includes secure underground parking and a storage locker while the other does not, that difference can affect how buyers perceive value. Not All Parking and Storage Are the Same One of the most important things condo buyers should understand is that parking and storage can be allocated in different ways. They may be: Part of the strata lot Limited common property Common property assigned for use Leased or licensed Allocated by the developer Controlled by strata council These differences matter because they can affect your right to use the stall or locker, whether it transfers on resale, and how secure that arrangement is. The Province of British Columbia explains that parking and storage areas are often designated as limited common property for the exclusive use of a particular strata lot. The owner may have exclusive use, but the area itself is still common property owned by the strata corporation. BCFSA also notes that when parking or storage is common property, it is generally within the control of the strata council unless other legal arrangements apply. This is why buyers should not rely only on a listing description. A listing may say “parking included” or “storage locker included,” but the documents should confirm what that actually means. What Buyers Should Review Before removing subjects on a condo purchase, buyers should review the documents carefully. For parking and storage, this may include: Form B Information Certificate Strata plan Bylaws and rules Parking assignments Storage locker assignments Developer disclosure statement, if applicable Lease or licence agreements, if applicable Council meeting minutes Annual general meeting minutes Any correspondence related to parking or storage changes The Form B is especially important because it should identify parking stalls and storage lockers associated with the strata lot. Realtylink notes that buyers can review the Form B and the strata plan to understand whether parking and storage are part of the strata lot, limited common property, or common property. This review helps buyers avoid assumptions. It also helps clarify whether the parking stall or locker is truly connected to the unit in a way that will matter on resale. Questions to Ask Before Buying a Condo Before writing an offer or removing subjects, buyers should ask clear questions. Parking Questions Is parking included? Is the stall assigned, titled, leased, or limited common property? Does the stall transfer with the unit on resale? Is the stall secure and underground? Is visitor parking available? Are EV chargers installed or permitted? Are there rules around renting out a stall? Is the stall large enough for your vehicle? Is the stall close to the elevator? Are there any known parking shortages in the building? Storage Questions Is a storage locker included? Is the locker assigned or legally tied to the unit? Where is the locker located? How large is it? Is it secure? Is it dry and accessible? Are there restrictions on what can be stored? Does it transfer with the unit on resale? Are bike rooms or other shared storage areas available? These may seem like small details. They are not small when they affect daily life. When a Condo Without Parking Can Still Make Sense A condo without parking is not automatically a poor choice. For some buyers, it may make a lot of sense. It may work well if: The building is in a highly walkable location You do not own a vehicle Transit access is strong Car-share options are nearby You prefer lower purchase costs You are buying primarily for lifestyle or location You understand the resale trade-off The key is being honest about how you live now and how your needs could change. A buyer who does not drive today may still want flexibility later. A future partner, job change, family need, or lifestyle shift could make parking more valuable. That does not mean every buyer should pay more for parking. It means the decision should be intentional. When Storage Should Be a Priority Storage may matter more if you are: Downsizing from a larger home Buying a smaller condo Working from home Keeping sports or outdoor equipment Planning to stay long term Sharing the space with another person Buying with pets or children Moving from a property with a garage or basement Trying to keep the suite uncluttered In Greater Victoria, lifestyle often includes outdoor activity. Bikes, paddleboards, golf clubs, camping gear, hiking equipment, and seasonal items all need space. If a condo does not have a storage locker, buyers should think carefully about whether the unit itself has enough closets and built-in storage to function well. Parking, Storage, and Newer Condos Newer condo buildings may offer more thoughtful storage solutions, secure bike rooms, EV-ready parking, underground stalls, parcel rooms, and improved building amenities. That can be a major benefit. However, buyers should still review what is included with the specific unit. In some buildings, parking or storage may be included. In others, it may be purchased separately, rented, assigned, or limited depending on the development. For pre-sale and new construction buyers, it is important to understand: Whether parking is included in the purchase price Whether storage is included Whether the parking stall is assigned before completion Whether EV infrastructure is available Whether storage lockers are limited in number Whether commercial parking or visitor parking affects availability How the disclosure statement explains parking and storage Do not assume every unit in the same building has the same package. Parking, Storage, and Older Condos Older condo buildings can offer larger floorplans, established locations, and strong value, but parking and storage arrangements may vary. Some older buildings have excellent storage. Others may have limited parking, waitlists, outdoor stalls, shared bike rooms, or older allocation systems that require careful review. Buyers should pay close attention to: Whether parking has changed over time Whether stalls are assigned by strata council Whether lockers are clearly documented Whether there are waitlists Whether parking is indoor, outdoor, covered, or uncovered Whether storage areas are secure and well maintained Whether past minutes mention disputes or shortages Older buildings are not automatically a concern. They simply require thoughtful due diligence. How Parking and Storage Fit Into Offer Strategy Parking and storage can also affect offer strategy. If a condo includes secure parking and a storage locker in a building where not every unit has both, that may support stronger value. If the unit does not include either, that may affect how the offer should be positioned. Before writing, buyers should compare: Similar units with parking Similar units without parking Similar units with storage Similar units without storage Recent sales in the same building Active competing listings Building location and walkability Buyer demand for that property type A downtown condo without parking may still be attractive if the location is strong. A suburban condo without parking may face a different buyer reaction. Context matters. The Bigger Lesson for Condo Buyers Parking and storage are not just checkboxes. They are part of how a condo functions. They affect convenience, flexibility, future resale appeal, and the way the home supports your lifestyle. They can also involve legal and strata-related details that need to be reviewed before a buyer feels confident moving forward. A strong condo purchase is not only about finding a unit that looks good. It is about understanding the full package. That includes the suite, the building, the strata, the neighbourhood, the parking, the storage, and how all of those pieces work together. Final Thoughts When buying a condo in Greater Victoria, parking and storage still matter. They may not be the most exciting features, but they are often among the most practical. A great layout can feel less functional without enough storage. A beautiful unit can become harder to resell if future buyers need parking and the unit does not offer it. The best approach is simple. Know what is included. Confirm it in the documents. Understand how it affects your lifestyle. Compare it against similar listings. Then decide whether the trade-off makes sense for your goals. If you are thinking about buying a condo in Greater Victoria, Faber Real Estate Group can help you compare buildings, review key details, and understand what matters before you write an offer.   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 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.”

Condo fees can feel like an extra monthly cost, especially for buyers trying to keep their budget under control. But condo fees are not always a bad thing. In many cases, they help protect the building, reduce surprise expenses, and make ownership more predictable. The key is not to avoid condo fees altogether. The key is to understand what they cover, how well the strata is managed, and whether the monthly amount matches the condition and services of the building. What Condo Fees Usually Cover Condo fees, also known as strata fees in British Columbia, help pay for the shared costs of the property. These may include: Building insurance Landscaping Garbage and recycling Common area electricity Elevator maintenance Building cleaning Property management Repairs and maintenance Contributions to the contingency reserve fund Amenities such as gyms, guest suites, bike rooms, or lounges In a detached home, many of these costs still exist. They just arrive differently. Instead of paying a monthly strata fee, the owner pays directly when repairs, insurance, landscaping, or maintenance come due. Predictable Costs Can Be a Strength For many buyers, especially first-time buyers and downsizers, predictability matters. A well-managed condo building can turn irregular ownership costs into a more stable monthly expense. That does not mean every fee is good or every building is well-run. It means the fee itself is not the problem. The real question is whether the money is being used responsibly. A lower fee can look attractive at first, but it may also mean the strata is underfunding maintenance. That can lead to larger special levies later. Low Condo Fees Are Not Always Better Buyers often compare condo fees the same way they compare mortgage payments. Lower feels better. But in strata ownership, lower is not always safer. A very low monthly fee may mean: The building has fewer services Maintenance is being delayed The contingency reserve fund may be weak Owners may face larger costs later The building may not be planning ahead A higher fee may be reasonable if the building includes strong services, proper maintenance, good insurance coverage, and healthy reserve fund contributions. The best value is not always the lowest fee. It is the fee that makes sense for the building. What Buyers Should Review Before Judging the Fee Before deciding whether condo fees are reasonable, buyers should look at the larger picture. Important documents may include: Strata minutes Depreciation report Budget Form B Contingency reserve fund balance Insurance summary Bylaws and rules History of special levies Maintenance plans These documents can show whether the strata is proactive, reactive, or falling behind. A building with slightly higher condo fees but strong planning may offer more peace of mind than a building with low fees and repeated emergency repairs. Condo Fees Can Support Long-Term Resale Value Well-maintained buildings tend to feel more secure to buyers. Clean common areas, updated systems, healthy records, and steady maintenance all help build confidence. When a future buyer reviews the strata documents, they are not just looking at the unit. They are looking at the building’s financial health, maintenance habits, and risk level. A condo with responsible fees may be easier to explain, easier to finance, and easier for buyers to trust. When Condo Fees Should Raise Concern Condo fees deserve closer attention when they feel out of step with the building. Warning signs may include: Fees that are unusually high without clear value Fees that are unusually low for an older building Repeated special levies Poor meeting minutes Deferred maintenance Large insurance increases Weak reserve fund contributions Frequent owner disputes Unclear repair planning The fee amount matters, but the story behind the fee matters more. The Bottom Line for Buyers Condo fees are not just an added cost. They are part of how the building operates. A good buyer strategy is to ask three questions: What does the fee cover? Is the building being properly maintained? Does the fee reduce risk or hide future risk? Condo fees are not always a bad thing when they support good management, predictable ownership, and long-term building care. For buyers in Greater Victoria, the goal is not to find the cheapest strata fee. The goal is to find a building where the monthly cost makes sense, the records are clear, and the ownership experience feels sustainable. For advice on buying, selling, or evaluating a condo in Greater Victoria, contact Faber Real Estate Group for clear, local guidance before making your next move.   Sue S., 5-Star Review, via Google “I would recommend Cal and Scott, an amazing duo team to sell or purchase any Real Estate.They even came and brought a mirror in to finish off one of the bathrooms in my mom's house. They totally cared and they go above and beyond. nIf you are looking to buy or sell your home give Cal and Scott a call, you will not be disappointed.” 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.”

For buyers in Greater Victoria, budget matters, but where you shop matters just as much. The same number can buy a newer condo in one area, an older townhouse in another, or a detached home in a completely different part of the region. That is especially true when comparing Langford, Saanich, and Victoria, where housing stock, neighbourhood feel, and price points can shift quickly from one municipality to the next. The Victoria Real Estate Board reported 3,261 active listings at the end of March 2026, up 7.9% from March 2025, while also noting that Greater Victoria is made up of many micro-markets with different conditions and demand. This is why buyers who only search by price can miss the bigger picture. A $750,000 budget does not mean the same lifestyle in Langford as it does in Saanich or Victoria. In practical terms, your budget is really buying a mix of location, home type, age, condition, and future resale appeal. Langford’s planning direction continues to support a wider range of housing choices, including more mid-rise and ground-oriented homes, while Saanich is actively working to expand housing diversity in established neighbourhoods. Victoria, meanwhile, is made up of 12 distinct neighbourhoods, which helps explain why value can look very different from one pocket to another. Why These Three Areas Feel So Different Langford Langford often gives buyers more square footage and newer construction for the money. Many buyers looking here are trading a longer commute or a different neighbourhood feel for a more modern home, newer strata, or a better chance at ground-oriented living. The city’s current planning framework emphasizes mid-rise and ground-oriented housing choices, which supports that broader range of product. Saanich Saanich tends to sit in the middle. It offers a wide mix of housing, from condos and townhomes to established detached neighbourhoods, but pricing can move up quickly depending on school catchments, lot size, and proximity to key amenities. Its updated planning direction also points toward more housing diversity within existing neighbourhoods. Victoria Victoria usually commands a premium for location, walkability, and lifestyle. Buyers are often paying more for proximity to downtown, the Inner Harbour, Cook Street Village, Fernwood, Fairfield, or other well-known urban neighbourhoods. The City’s neighbourhood structure and evolving housing policy help explain why Victoria often offers less space for the same budget, but stronger lifestyle appeal for buyers who want to be close to the core. What Different Budgets May Buy You Around $500,000 to $650,000 At this level, most buyers are usually focused on condo living. In Langford, this budget can often put you in a newer one-bedroom or two-bedroom condo, sometimes in a more modern building with updated finishes, parking, and better overall building age. In Saanich, this same budget may still work for a condo, but buyers are often choosing between size and age. You may find a larger older suite or a smaller unit in a more desirable pocket. In Victoria, this range often means a condo as well, but the trade-off is usually space. You may buy into a more central and walkable lifestyle, but with less square footage or an older building than you would see in Langford. That lines up with broader market data. In March 2026, the Victoria Core MLS HPI benchmark for a condo was $553,800, while the region-wide average sale price for condo apartments was $634,393. Around $650,000 to $900,000 This is where the comparison starts to get more interesting. In Langford, buyers in this range may start stretching into larger condos, newer townhomes, or older small detached options depending on exact location and condition. In Saanich, this is often townhouse territory, larger condos, or entry-level detached opportunities in select pockets, though detached choices can still be limited. In Victoria, buyers may still be mostly looking at condos, townhomes, or half-duplex style options rather than detached homes, especially if staying close to the urban core is important. Region-wide in March 2026, the average sale price for a row or townhouse was $837,192, which makes this budget range one of the most competitive for buyers trying to move beyond condo living without jumping fully into higher detached-home pricing. Around $900,000 to $1.2 million This is often the transition zone where buyers start deciding between location and home type. In Langford, this budget may open the door to detached homes, including newer or more updated properties, especially when buyers are flexible on exact neighbourhood or lot size. In Saanich, this budget may buy an older detached home, a smaller lot, a home needing updates, or a strong townhouse alternative in a well-established area. In Victoria, this range often still requires compromise for detached housing. Buyers may need to consider smaller homes, more renovation work, duplex options, or moving slightly away from the most sought-after central pockets. That context matters because the Victoria Core single-family benchmark was $1,330,200 in March 2026, while the region-wide average sale price for single-family homes was just over $1.35 million. In other words, a budget around $1 million can still be powerful, but it does not stretch evenly across all three municipalities. Around $1.2 million to $1.6 million Now buyers start seeing a bigger difference in what their money can do. In Langford, this range can often buy a newer detached home with more interior space, a garage, and a family-oriented layout. In Saanich, this may put buyers into an established detached home in a desirable neighbourhood, though age, updates, and lot characteristics still matter a great deal. In Victoria, this budget may buy a detached home in select areas, but many buyers are still choosing between character, condition, parking, and walkability rather than getting all of them at once. This is where buyer strategy becomes more important than headline price. A family focused on space and newer finishings may lean Langford. A buyer focused on long-term neighbourhood stability and central access may prioritize Saanich. A buyer focused on walkability and city lifestyle may still prefer Victoria even if the home itself is smaller or older. Above $1.6 million At this level, all three areas offer more choice, but the type of value still differs. Langford may offer larger and newer detached homes with more modern layouts. Saanich may offer stronger lot value, established streets, and family-oriented neighbourhood appeal. Victoria may offer premium location, character homes, or higher-demand central properties where land and proximity carry more of the value story. For many buyers, this is the budget range where the decision stops being about “Can I buy?” and starts becoming “What kind of life do I want this home to support?” The Real Trade-Off Is Not Just Price The biggest mistake buyers make is assuming that more house always means better value. Sometimes the better move is buying less space in the right location. Sometimes it is buying a newer home with fewer maintenance surprises. Sometimes it is choosing an older home in a strong neighbourhood because the long-term livability is better for your family. The best budget is not the highest one. It is the one that aligns with how you want to live, how long you plan to stay, and how much compromise you are actually comfortable making. Final Thoughts If you are comparing Langford, Saanich, and Victoria, the smarter question is not just what your budget can buy. It is what kind of home, lifestyle, and future flexibility that budget can buy in each area. In today’s market, buyers have more room to compare options and do proper due diligence than they did in more competitive years, but the differences between micro-markets still matter. The right strategy is to compare the same budget across multiple municipalities before committing too early to one path. VREB says current supply and consumer demand have created conditions with less pressure and more time for decision-making, which makes this kind of side-by-side comparison especially worthwhile right now. If you want help comparing what your budget could realistically buy in Langford, Saanich, and Victoria right now, contact Faber Real Estate Group for tailored advice and a clear plan based on your goals. Nilo M., 5-Star Review, via Google “This group have a high level of commitment to help and to put thier client’s need ahead of their personal gain. They deal and engage with integrity and wisdom on how it will work for both the seller and the clients. I experienced it first hand in this crazy and difficult season. We just bought a home at Glanford area, and they are always there for us, every step of the way. They are real and can be trusted.” 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 2026 Greater Victoria real estate market entered the year in a noticeably more balanced position. Inventory is higher year-over-year, sales remain seasonally soft, and prices are largely stable, with variation by neighbourhood and property type. Buyers have real choice again. Sellers who price realistically are still seeing solid outcomes. January 2026 Snapshot (VREB) Sales: 339 properties sold region-wide 19.7% fewer than January 2025 7.6% fewer than December 2025, consistent with winter trends Active Listings: 2,624 at month-end Up 3.1% from December Up 9.6% year-over-year Market Balance: Sitting on the line between balanced and buyer-friendly, depending on the neighbourhood Benchmark Prices at a Glance Victoria Core Single-family: $1,265,500 Down 2.5% year-over-year Slight uptick from December, signalling price stability Condos: $537,800 Down 1.5% year-over-year The most stable segment in the market Westshore Single-family benchmarks are not broken out monthly Langford, Colwood, and View Royal posted modest gains through 2025 Relative affordability and newer housing stock continue to support demand Saanich (East & West) Generally stable pricing Family-oriented neighbourhoods like Gordon Head, Broadmead, and Royal Oak are holding value well Data source: VREB MLS® Home Price Index, February 2026 release What This Means So Far The broader trend from 2025 into early 2026 is clear. Core Victoria single-family homes softened modestly over the past year. The Westshore posted small gains, supported by family demand and newer inventory. Saanich continues to act as the steady middle ground. What Buyers Can Expect in 2026 More selection, especially early in the yearInventory levels are the highest seen in several years. Expect more choice and slightly longer days on market across most areas. Stable pricing with room to negotiateCore Victoria single-family benchmarks are holding in the $1.25M to $1.3M range. The Westshore continues to offer the best value for buyers seeking detached homes. Condos remain buyer-friendlyCondos are still the most accessible entry point for first-time buyers and downsizers, with stable pricing and ample selection. Westshore continues to lead for growth and valueLangford, Colwood, View Royal, Westhills, and Royal Bay offer newer builds, family amenities, and long-term upside. Saanich delivers lifestyle and schoolsNeighbourhoods like Gordon Head, Cadboro Bay, Broadmead, and Royal Oak continue to command premiums. Inventory is tighter, so well-prepared homes still sell quickly when priced correctly. Rates and external factors matter, but less dramaticallyMortgage rate stability or modest Bank of Canada cuts would support confidence. The market has returned to normal seasonal patterns rather than urgency-driven behaviour. Bottom Line for 2026 The 2026 Greater Victoria real estate market is healthy and sustainable. Buyers have more choice than at any point since 2021, prices are not falling sharply, and demand remains steady in well-located neighbourhoods. If you are planning to buy this year, the first half of 2026 offers one of the strongest windows we have seen in recent years, particularly in the Westshore and select areas of Saanich. If you would like to discuss your options or explore opportunities in your target neighbourhood, feel free to reach out anytime. Noel A., 5-Star Review, via Google “My partner and I had a great experience with Scott and the Fabers with our first home purchase. Scott answered all questions we had and helped guide us to make the right purchase that fit our lifestyle. Would highly recommend the Fabers!” 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 Victoria spring real estate market 2026 is shaping up to be more balanced than the fast-paced years buyers remember. Spring remains the most active season locally, but conditions suggest a steadier, more strategic market ahead rather than rapid price surges. Buyers and sellers entering the market this spring should expect improved choice, realistic pricing, and a stronger emphasis on value and location. Inventory and Buyer Activity Inventory is expected to improve modestly across Greater Victoria. More homeowners appear willing to list as pricing stabilizes and borrowing costs level out. As a result, buyers will have slightly more selection than in recent spring markets. Demand should remain strongest in family-oriented neighbourhoods and entry-level price ranges. Well-located homes that show well will still attract attention, but bidding wars should be less common overall. Price Trends for Spring 2026 Home prices in Victoria are likely to remain relatively flat this spring, with modest gains in high-demand pockets. Condos and townhomes should continue to lead activity, especially among first-time buyers and downsizers. Single-family homes may see longer days on market unless priced accurately. Sellers who align with current market conditions will have the best results. Interest Rates and Buyer Confidence Interest rates remain a key factor shaping the Victoria spring real estate market 2026. While rates are higher than pandemic-era lows, improved predictability has restored some buyer confidence. Pre-approved buyers are returning with clearer budgets and a more disciplined approach. This supports steady sales without the volatility seen in previous cycles. Neighbourhoods to Watch This Spring The West Shore, including Langford and Colwood, is expected to stay active due to relative affordability. Vic West and View Royal should continue attracting buyers seeking proximity to downtown without core pricing. Established areas like Fairfield and Oak Bay remain resilient, though price sensitivity is higher than in past spring markets. What This Means for Buyers and Sellers For buyers, spring 2026 offers better negotiating conditions and more time to make informed decisions. Preparation and flexibility remain essential. For sellers, presentation, pricing, and timing matter more than ever. Homes that are well-prepared and competitively priced should still perform well during the spring surge. Final Thoughts The Victoria spring real estate market 2026 is expected to reward patience and strategy rather than speed. While spring activity will pick up as usual, balanced conditions favour informed buyers and realistic sellers. If you are planning to make a move this spring, understanding neighbourhood trends and current pricing will be key to success.   Elel P., 5-Star Review, via Google “Months of looking then a listing came up to our liking. We were out of town so Scott did a virtual viewing for us. We gave an offer even without viewing it personally because of this crazy market we have. Offer got accepted a couple hours after!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

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