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Victoria Real Estate News

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10th Apr 2025

Victoria Market Remains Stable and Balanced

In March 2025, Victoria's real estate market remained steady with 613 properties sold, a 4.3% increase from March 2024. Condo sales rose 14.1%, while single-family homes saw a 2.1% uptick. Inventory reached 3,023 listings, up 14.9% month-over-month. Benchmark prices increased by 3.6% to $1,335,300 in the Victoria core area.

Read the full report by VREB.

27th Mar 2025

Greater Victoria Is Getting 530 New Affordable Homes

Greater Victoria is welcoming 530 new affordable rental units across five projects, thanks to a $19 billion investment by the B.C. government. The province allocated approximately $63 million in grant funding to build these homes. ​The developments aim to provide more options for residents seeking affordable living spaces. ​

Read the full story by Victoria News.

6th Mar 2025

Greater Victoria Market Saw Steady Activity in February

Greater Victoria home sales rose 12.3% year-over-year in February, with 528 properties sold. Condo sales jumped 26.3%, while single-family home sales increased 4.5%. Inventory grew 11.3% annually and prices remained stable. The market remains balanced, creating favourable conditions for both buyers and sellers.

Read the full report by VREB.

4th Mar 2025

B.C. Supreme Court Rejects Plea for Airbnb Rule Exemption

A B.C. Supreme Court ruling upheld the province's tightened regulations on short-term rentals. It rejected a petition by a property management company, Airbnb owner, and advocacy group to allow certain listings to continue, specifically one in Victoria. Enacted in May 2024, the rules now permit only primary residences on platforms.

Read the full story by Daily Hive.

20th Feb 2025

District of Sooke Updates Zoning Bylaws Despite Objections

Sooke is amending zoning bylaws to meet provincial requirements allowing small-scale multi-unit housing on single-family lots. Mayor Maja Tait criticized the approach, citing infrastructure challenges like traffic congestion and strained resources. Despite objections, non-compliance risks provincial intervention.

Read the full story by Victoria News.

13th Feb 2025

Langford Gateway Site Listed as Court-Ordered Sale

A development site in downtown Langford, where a 18- and 22-storey towers were planned, is for sale. The five-acre assembly spanning nearly two acres was going to consist of 269 residential units and ground-floor commercial space. Lenders filed foreclosure proceedings last year due to $8.2 million of outstanding debt.

Read the full story by Victoria News.

RC
RCSubscriber since May 2024
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As a legal practitioner with a busy practice, Real Estate Recap provides me with an insightful and quick update on the current real estate happenings in Canada. Not only is the information helpful for my personal use, it goes a long way in dealing with relevant legal issues for clients.
EM
EMSubscriber since December 2024
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Real Estate Recap is a fantastic resource! It’s packed with useful information about market trends and provides educating insights that help readers understand the real estate market better. The practical tips and clear explanations make it a must-read for anyone looking to stay informed and learn more about the real esate market!
SD
SDSubscriber since June 2024
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Staying on top of real estate news can be hard, but thanks to RealEstateRecap, I don’t miss a beat. Their updates are informative, and make it easy to stay in the know. Great Newsletter, Thank you
SG
SGSubscriber since June 2024
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Very informative newsletter! It is now my go to source for all real estate news.
SB
SBSubscriber since December 2024
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Great newsletter! Very insightful and it provides all the key points without being a long, tedious read. Very well done!

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