The Victoria Real Estate Board has released their statistics for the month of November. The following is an excerpt from their press release.
A total of 451 properties sold in the Victoria Real Estate Board region this November, 18.1 per cent fewer than the 551 properties sold in November 2024 and 26.9 per cent fewer than in October 2025. Sales of condominiums decreased by 36 per cent from November 2024 with 119 units sold. Sales of single family homes decreased by 8.4 per cent from November 2024 with 241 sold.
"We observed a slowing of the pace of sales this month that we didn't experience last year at this time," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "This year-over-year difference in sales does appear to be noteworthy, but it is because last year's sales were distributed differently than they have been this year. 2025 saw higher sales counts during the spring market, whereas 2024 saw a sales rally later in the year, which is not typical. Even though our winter numbers are softer compared to last year, we are right on track for this year's total numbers to end up very close to the four years previous. In fact, compared to fewer than 400 November sales in both 2022 and 2023, this year's activity was higher."
There were 3,152 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2025, a decrease of 7.9 per cent compared to the previous month of October and an 11.1 per cent increase from the 2,836 active listings for sale at the end of November 2024.
"We could characterize the tone in November as one of patience," notes Chair VanderWal. "Buyers have plenty of options and time to make their decisions, and sellers know that well-priced and well-presented homes will sell, but that the market isn't under the pressure it had been in the early 2020s. Overall, our market remains in a balanced position. We can see that different types of properties and different locations influence where each home is on that scale of balance. To determine where the home you want to buy or sell rests between a buyers' or sellers' market, connect with your favourite Victoria REALTOR®, who can help you understand these trends and how your property fits in the current market."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in November 2024 was $1,313,900. The benchmark value for the same home in November 2025 decreased by 2.8 per cent to $1,276,700, down from October's value of $1,280,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in November 2024 was $542,100, while the benchmark value for the same condominium in November 2025 increased by 2 per cent to $553,100, up from the October value of $549,000.
This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months.
The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is sustained downward pressure on prices, and a "sellers' market", where there is sustained upward pressure on prices.
- below 17%, there is downward pressure on prices (buyers' market)
- above 28%, there is upward pressure on prices (sellers' market)
- in the 17-28% range, there is little pressure on prices either way (balanced market)