Real estate sales inched upwards in Greater Victoria in March, while the overall housing market was “stable and balanced,” according to the Victoria Real Estate Board (VREB).
A total of 613 properties were sold in the region last month, up 4.3 per cent from the 588 properties sold in March 2024, and a more noticeable increase of 16.1 per cent compared to February 2025.
Condo sales were a larger contributor to March’s overall sales increase, with sales of condominiums rising 14.1 per cent last month compared to the same month last year.
Meanwhile, single family home sales increased 2.1 per cent in March 2025 compared to March 2024.
The real estate board says the benchmark value of a single family home in Greater Victoria was $1.33 million last month, up 3.5 per cent compared to March 2024, when the benchmark value was $1.29 million, according to the Multiple Listing Service Home Price Index.
Meanwhile, the benchmark value for condos in the Victoria area increased modestly at 0.4 per cent to $560,400 in March 2025, compared to $558,200 in March 2024, says VREB.
“The economic uncertainty the world faces right now certainly colours our local real estate market,” said Dirk VanderWal, chair of the 2025 CREB board, in a release Tuesday.
“In spite of this, our market remains as it has in recent months – stable and balanced.”
In March, there were 3,023 active listings in the VREB area, an increase of nearly 15 per cent compared to the month before, and an increase of 14.2 per cent compared to March 2024.
“Inventory levels this past month held steady at over 3,000 listings, which meant that there was a good amount of selection for buyers, while relatively flat pricing meant more predictability for sellers and buyers,” said VanderWal.
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