10/29/2026
National housing headlines often look concerning, but here is what the latest data actually means for us locally. According to the newest figures released by the Canadian Real Estate Association (CREA), national home sales fell 2.3% in September as buyer uncertainty surfaced across the country - see article for more stats.
Here's the thing - real estate is never one uniform national story. It is hyper-local. Cooling sales in other major Canadian centers do not dictate what a motivated buyer is prepared to pay for a home in our Greater Victoria neighbourhoods.
What we are seeing locally right now:
-Well-priced properties are continuing to attract committed buyers.
-Serious buyers are actively negotiating price, terms, and subject conditions.
-Sellers who price with precision based on current neighbourhood data are moving forward smoothly.
Looking ahead:
With the Bank of Canada announcing an interest rate increase to 2.50%—its first rate hike since 2023—market conditions are entering a new chapter heading into late fall and winter.
Navigating today's market calls for a trusted consultant and experienced service provider:
• For Sellers: I provide through in-depth equity analysis, strategic pre-market consulting, and maintenance prioritization, I help you protect your investment and position your property for peak performance when you decide to sell.
• For Buyers: As a specialized buyer’s representative, I provide critical valuation insight, clear market context, and tough negotiation leverage so you secure the right home at the right price with zero second-guessing.
For deeper insight into how these changes affect your personal plans, timing, and home equity, reach out directly.
Send me a private message, call or text me at 250.882.0234.
I am always here to talk through your scenario and provide clear, straightforward professional service.
Dean Boorman
Experience SOLD in residential Realty services
eXp Realty
E: [email protected]
Canada's housing market took a step back in September, with home sales and prices both declining. Here's the latest from the Canadian Real Estate Association.
