From everyone at Holmes Realty Group, here’s wishing you a safe and joyful Holiday Season!
We are available for any of your Real Estate needs through the Holiday Season – Be sure to call us 250-656-0911 or e-mail: reachus@holmesrealty.com .
Michele, Mark & Eric – Holmes Realty Group – Coldwell Banker Oceanside.
You are invited to our Coldwell Banker Client Halloween Party, October 18th – 2:00 – 4:00 pm at Heritage Acres, 7321 Lochside Drive in North Saanich. Bring your kids, grandkids and your whole family. Everyone is welcome!
Lots and lots of fun to be had – Scavenger Hunt, Hot Dogs, Drinks, Candy Bags, Pumpkins to take home and a Train Ride! Train Rides start at 4pm.
Click on the link below to RSVP:
https://www.eventbrite.com/e/coldwell-banker-client-halloween-event-tickets-1723612965779
Hope to see you there!
Michele Eric and Mark
Holmes Realty Group
Coldwell Banker Oceanside
Thank you to everyone to entered our draw for the $100 Gift Certificate for the Brentwood Lodge and Spa. We are excited to announce the winner is Iris Haugen.
Please keep your eyes open for future draws!
Greater Victoria Market Update – July 2025
Summer Surge Defies the Norm
Home sales in Greater Victoria bucked seasonal trends last month,
delivering the busiest June since 2021. Despite economic headwinds and
higher borrowing costs, sales in the first half of 2025 have outpaced both
2024 and 2023, setting a strong tone for the second half of the year. This
resilience stands in contrast to markets like Vancouver, where both sales
volume and price ranges have begun to contract.
Strong June Performance
July Mid-Month Snapshot
July is showing signs of typical mid-summer slowing, with sales
currently at just under half of what we saw in July 2024. However, active
listings at mid-month have already surpassed the total number of
listings recorded in July last year—3,754 active listings now vs. 3,348
for all of last July.
While new listings are coming on more slowly than this time last
year, inventory turnover remains strong—indicating continued buyer demand and
market confidence.
Luxury and Mid-Range Segments Heat Up
What to Expect for the Rest of July
Given the current pace, total sales for July are forecast between
1,100–1,200, down from 2024 but in line with typical seasonal patterns. Month-end
active listings are expected to reach 3,700–3,900, which is above last
year’s numbers and supports a healthier, more balanced market.
Price trends are expected to remain steady overall, but:
Key Takeaway: Smart Pricing Wins
The one constant in any market—pricing matters. If your home
isn’t attracting attention or offers, don’t wait too long to consider a price
adjustment. The market is active, but buyers are savvy, and they know value
when they see it.
💬 Ready to Talk Strategy?
If you’d like a current market evaluation or want to review
your home’s pricing strategy, we’d be happy to help. Whether you’re
planning to sell this summer or later in the year, we’re here to guide you with
facts, trends, and market-smart advice.
Wishing you a wonderful Victoria Day long weekend; lets hope the weather holds.
Victoria Day honors Queen Victoria’s birthday and marks the unofficial start of summer in Canada. While originally a colonial celebration of loyalty to the British crown, it has become a widely enjoyed long weekend across the country.
As we move into the second half of May, the Greater Victoria real estate market continues to show steady buyer activity. Sales are pacing closely with those recorded in May 2024, indicating consistent interest despite ongoing shifts in the broader economic landscape.
What’s most notable this month is the significant increase in available inventory. With 3,535 active listings already recorded by mid-month, we’ve surpassed the entire listing total for May 2024, which stood at 3,338. This trend is not unique to Victoria—it’s being echoed across major Canadian markets, including Vancouver and Toronto.
While these larger urban centres have experienced sharper price corrections—Vancouver seeing up to a 25% reduction in market values and Toronto not far behind—Victoria has fared more gently. We’re seeing only a slight softening in local prices, which has helped maintain buyer confidence.
Entry-level condos have increased inventory levels which has created more options and less urgency in that segment. On the other hand, demand is strong for townhomes, entry-level houses, and homes with suites—we have seen
multiple offers in certain neighbourhoods in these property types.. The “hot
zone” appears to be properties priced under $1.4 million, where competition
remains brisk.
Adding to buyer optimism is growing speculation that the Bank of Canada will begin cutting interest rates as early as June, with further reductions anticipated through the end of the year. This potential relief offers hope for improved affordability and may encourage more buyers to make a move despite the
broader political uncertainty.
In the community, some great events are coming up. On Friday, May 17th, head to Deep Cove School between 10 AM and 1 PM for a Free Repair Café Bike Day—a great chance to get your bike tuned up in time for summer. And mark your calendars for June 7th, when the Sidney by the Sea Rotary Club hosts its annual Lobster Fest, supporting the Youth Clinic on the Saanich Peninsula. Not a fan of lobster? No problem—crab and prime rib are also on the menu! Tickets are available at sidneylobsterfest.ca.
Wishing you a wonderful and relaxing Victoria Day weekend!
