The fall real estate market on the Gulf Islands and Victoria followed the expected seasonal rhythm, with sales picking up in early fall before easing in late fall. While the pace of new listings slowed down, overall inventory remained higher than last year, offering consumers more choice than in recent fall seasons. Overall, balanced conditions held steady heading into winter.
Single family home sales lifted at the start of fall followed by slowing later in the fall, in line with seasonal expectations. September saw a boost in sales from the summer lull (+7.8% MoM) and stronger sales than last September (+6.3% YoY). The fall market came to its peak in October, with a further increase compared to both September (+21.1% MoM) and last October (+2.9% YoY). Sales slowed back down in November, in line with seasonal expectations (-31.1% MoM) and activity was more subdued than in the unusually busy November 2024 (-8.4% YoY). Across the full fall season, single family home sales demonstrated steady demand that was consistent with seasonal expectations and the broader return to more typical market rhythms.
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Inventory of single family homes remained elevated throughout the fall, with active listings holding above last year’s levels across September (+5% YoY), October (+1% YoY), and November (+7% YoY). Month-to-month movement followed the expected seasonal pattern of increase in early fall (+3.1% MoM in September) followed by a decrease in late fall (-14.6% MoM in October and -13.4% MoM in November). New supply did not grow significantly during the season, yet the higher standing inventory ensured that the market remained well supplied and competitive.
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The sales-to-active listings ratio remained within balanced market territory throughout the fall. Conditions continued to favour neither buyers nor sellers decisively. Balanced conditions have been a consistent feature of the market for over two years now, contributing to stable pricing and predictable seasonal behaviour.
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Throughout the fall season, average single family home prices were higher than last year’s values (+5.7% YoY in September, +9% YoY in October, and +1.8% YoY in November). Month to month changes in price followed a fairly typical pattern for fall (+0.2% MoM in September, +5.1% MoM in October, and -8.8% MoM in November); movements which reflect a market that is responsive to seasonal patterns but not under significant upward or downward pressure. Overall, when you zoom out, relative price stability continues to characterize our region’s real estate market.
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Winter usually brings a quieter pace, but our region enters the season with higher inventory, relatively stable pricing, and improved borrowing conditions—a combination that supports buyers and sellers alike.
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