Victoria, BC Real Estate: Trends and Top Neighbourhoods for Buyers

Victoria, BC is more than just a postcard-perfect city—it’s a dynamic real estate market that continues to attract buyers from across Canada and beyond. If you’re considering a move, or simply curious about where the market’s headed, here’s a clear-eyed look at the latest trends and the neighbourhoods making waves in 2025.

Market Snapshot: 2025

Victoria’s real estate market remains resilient. As of October 2025, the average home price in Greater Victoria is approximately $950,000, according to the Victoria Real Estate Board. Detached homes average $1.18 million, while condos hover around $610,000. Inventory has ticked up slightly compared to 2024, giving buyers a bit more choice, but demand continues to outpace supply—especially in desirable, family-friendly areas.

Neighbourhoods on the Rise

• Fairfield: Known for its heritage homes, tree-lined streets, and proximity to both downtown and Dallas Road beaches. Median home prices here are just above the city average, but the walkability and community vibe make it a perennial favorite.
• Oak Bay: Prestigious and picturesque, Oak Bay features stately homes, excellent schools, and a charming village center. Expect detached homes to start around $1.5 million, with strong long-term value.
• Fernwood: Artsy and eclectic, Fernwood attracts young families and creatives. Median home prices are more attainable, around $900,000, and the area is known for its vibrant community events and local cafes.
• Saanich East: With top-rated schools and plenty of parks, Saanich East is a magnet for families. Detached home prices average $1.2 million, but larger lot sizes and quiet streets add to the appeal.
• Downtown Victoria: If condo living is your style, downtown offers modern high-rises, historic conversions, and unbeatable access to amenities. Condo prices range from $500,000 to $1 million, depending on size and view.

Trends to Watch

• Sustainability: More buyers are seeking energy-efficient homes and walkable neighborhoods. Victoria’s green initiatives and bike-friendly infrastructure are big selling points.
• Remote Work: Flexible work has driven demand for homes with office space, bigger yards, and quieter surroundings—fueling interest in suburban and semi-rural pockets.
• Rental Demand: With the University of Victoria and Camosun College nearby, investment properties remain in high demand, especially in Saanich and Gordon Head.

Is Now the Right Time?

While prices remain strong, the slight increase in inventory means buyers have more negotiating power than in previous years. Mortgage rates have stabilized, and the city’s enduring appeal suggests Victoria real estate will remain a solid investment for years to come.

Whether you’re looking for a character home in a walkable neighborhood or a modern condo close to the action, Victoria offers something for every lifestyle and budget. Ready to explore your options? Let’s find your perfect fit in this vibrant city!