Local experts at Royal LePage have provided a snapshot summary of housing prices in Greater Victoria for Q4 of 2025.
According to their Housing Price Survey, Greater Victoria’s average aggregate home price remained mostly flat year-over-year.
The average cost of a home dipped only slightly, by 0.1% in Q4 of 2025 to $1,046,900, marking a 1% decrease since Q3 2025.
As for single-family detached homes, average prices have dipped by 2.2% to $1,246,200.
Condominiums have remained the most affordable form of home to buy, costing an average of $527,100 in Q4. This represents a 1.2% increase year-over-year.
“Home prices have largely stabilized, in part because lower-priced properties are accounting for a greater share of recent transactions,” said Neil Bosdet, sales representative, Royal LePage Coast Capital Realty.
“More affordable single-family detached homes, in particular, continue to attract the most buyer interest, outperforming other segments of the market. Overall, market conditions remain balanced, with neither buyers nor sellers holding a clear advantage.”
In recent months, buying a home has been slightly cheaper due to the reductions made to the overnight interest rate by the Bank of Canada (BoC).
These reductions impact the interest rate at which banks set mortgages.
Bosdet noted that additional interest rate cuts could help stimulate further housing market activity by improving affordability and boosting buyer confidence.
The last BoC interest rate announcement was on December 10th, 2025, when it held its target for the overnight rate at 2.25%.
“If buyers gain confidence that interest rates have stabilized, activity is likely to pick up around March, as weather conditions improve and the spring market arrives,” said Bosdet.
“As demand strengthens, prices are expected to modestly increase.”
The next BoC interest rate announcement is scheduled for Wednesday, January 28th.
