Happy New Year and welcome to 2026! 🎉
As we close the door on 2025, I wanted to share a final market update for the year and offer a clear snapshot of how the Greater Victoria real estate market finished off December.

As expected, December brought a seasonal slowdown in activity, but the bigger picture shows a market that remained steady and balanced throughout the year.

📊 December 2025 Market Snapshot – Greater Victoria

In December, 367 properties sold across the Victoria Real Estate Board region. That’s 12.8% fewer sales than December 2024 and 18.6% fewer than November, which aligns closely with typical year-end trends.

By property type:

• Single-family homes: 186 sold (down 2.6% year-over-year)

• Condos: 106 sold (down 21.5% year-over-year)

• Townhomes: Sales softened as well, tracking closely with the overall market slowdown and remaining below long-term averages

Despite the slower finish, 2025 ended with 6,918 total sales, slightly higher than 2024, making it another consistent year for our local market.

More Details

💰 Home Prices – A Mixed but Stable Picture

Price trends continued to vary by property type and location:

• Single-family homes (Victoria Core):
  Benchmark price ended December at $1,255,000, down 4.7% from last year and slightly lower than November.

• Condos (Victoria Core):
  Benchmark price finished at $549,900, up 0.7% year-over-year, though relatively flat month to month.

In simple terms:
🏡 Detached homes softened slightly
🏢 Condo prices held steady overall

Townhomes continued to sit in the middle, offering strong value for buyers looking for space without detached-home pricing.

📦 Inventory & Market Feel

There were 2,544 active listings at the end of December — down from November due to the holidays, but still higher than this time last year.

This inventory level helped keep the market balanced:

• Buyers had more choice and time to make decisions

• Sellers benefited from realistic pricing expectations and steady demand for well-prepared homes

🚀 What This Means for You in 2026

Whether you’re thinking about selling, planning a purchase, or simply wanting to understand your home’s value, the right information makes all the difference.

🔹 If you’re considering selling this year, I can provide a custom pricing and timing strategy based on your specific neighbourhood and property type.
🔹 If you’re buying, we can review current opportunities, negotiation strategies, and financing options so you feel confident before making a move.
🔹 If you’re not planning anything immediate, a quick market check-in can still help you stay informed and prepared.

📞 Call or text me: 

250-893-9185

✉️ Email:  KellyG@ComeSellWithMe.ca

Even a short conversation can help you decide your best next step — there’s no pressure, just honest advice and clear guidance.

Here’s to a successful and exciting year ahead 🥂
I look forward to helping you make 2026 a great one.

Every January, BC property owners receive their BC Assessment notice, and for many homeowners, it brings questions and sometimes concern. What does this number really mean? Will your property taxes increase? And is this the true value of your home?

If you own a home, condo, or townhouse in Victoria or South Vancouver Island, understanding your BC Assessment in 2026 is an important part of homeownership. Here’s a clear, straightforward breakdown of what it means—and what it doesn’t.

When Are BC Assessment Notices Sent Out?

BC Assessment typically mails assessment notices during the first week of January each year. If you haven’t received yours yet, it should arrive shortly.

You don’t need to wait for the mail to see your value. Homeowners can check their 2026 BC Assessment value online at any time through the BC Assessment website. 

What Is a BC Assessment Value?

Your BC Assessment value is an estimate of your property’s worth as of July 1 of the previous year, based on market conditions at that time. This value is used by municipalities to help calculate property taxes.

BC Assessment relies on a mass appraisal system, meaning values are generated using computer models that assess thousands of properties at once. As a result, they don’t always reflect the individual features or upgrades that can significantly affect a home’s real-world value.

BC Assessment vs. Market Value: Understanding the Difference

One of the most common misconceptions homeowners have is assuming their BC Assessment represents what their home would sell for today.

This is not the case.

Your home’s Market Value is determined by what a buyer is willing to pay in the current market, influenced by factors such as:

• Location and neighbourhood

• Recent renovations or improvements

• Lot size, layout, and condition

• Comparable sales in your area

• Current buyer demand

BC Assessment is a taxation tool, not a pricing tool, and should never be relied on when making selling or buying decisions.

Does a Higher BC Assessment Mean Higher Property Taxes?

Not necessarily.

Property taxes are based on how your assessed value compares to other properties in your municipality, not just whether your value increased.

For example:

• If your assessment increases but other homes increase by a similar amount, your taxes may remain stable.

• If your assessment rises more than comparable properties, you may see a higher tax bill.

This is why it’s important to view your BC Assessment in context, rather than focusing only on year-over-year changes.

Can You Appeal Your BC Assessment in 2026?

Yes. If you believe your BC Assessment does not accurately reflect your property’s value, you have the right to appeal.

Key appeal details:

• Appeal deadline: January 31, 2026

• First step: Contact your local BC Assessment office to discuss your concerns

• Review the appeal process and guidelines online before submitting

If you decide to proceed with an appeal, having relevant comparable sales is essential. A local real estate professional can help identify accurate comparisons to support your case.

Should You Be Concerned About Your BC Assessment?

A BC Assessment is useful for understanding how property taxes are calculated, but it should not drive major real estate decisions.

You may want a current market valuation if you’re:

• Considering selling in 2026 or early 2027

• Refinancing or renewing your mortgage

• Managing an estate or long-term planning

• Reviewing or appealing your assessment

• Simply curious about your home’s true value in today’s market

A market value assessment reflects current buyer behavior, not historical data.

Why Local Expertise Matters

The Victoria real estate market varies significantly by neighbourhood, property type, and price point. Condos, townhouses, and detached homes all perform differently, and these trends continue to evolve in 2026.

Having local insight ensures you’re making informed decisions based on real market activity, not estimates generated by an algorithm.

Need Help Understanding Your Home’s Value?

If you have questions about your 2026 BC Assessment, how it may impact your property taxes, or you’d like an up-to-date market value for your home, I’m always happy to help.

Clear information leads to confident decisions—and you don’t have to navigate it alone.

Proudly serving Victoria and South Vancouver Island homeowners.

Kelly J Grymaloski