Retiring in Victoria gives you a unique way of life, with mild weather, neighborhoods that are easy to walk around in, and a strong sense of community. If you’re downsizing, it’s important to know about real estate trends in Victoria BC so you can make smart, long-term choices.
1. Why It Makes Sense to Downsize in Victoria
Financial Freedom By “Right-Sizing”
Downsizing lets retirees get cash out of their homes, lower their maintenance costs, and use the money for travel, health care, or family support.
Victoria Fung *PREC
Since the average Victoria home is worth more than $900,000, selling a bigger property often gives you enough extra money to buy a nice condo and have some extra cash on hand.
Change in Lifestyle: More Life, Less Work
Less cleaning, lower utility bills, and more time for hobbies or getting involved in the community are all things that make Victoria’s retirement-friendly culture so appealing.
Victoria Fung *PREC
2. Important Real Estate Trends in Victoria, BC for People Who Want to Downsize
2.1 Market Stability and Changes in Inventory
The Victoria Real Estate Board says that in May 2025, there were 758 sales. Home sales stayed the same, but condo sales went down a little. Listings went up 11% from the previous year.
In January 2025, the number of condos sold went up by 30% and the number of homes sold went up by almost 20%. This shows that there was a balance in the market.
- Mortgage Sandbox +7
- RE/MAX Camosun +7
- Coastal Living Collective +7
2.2 Price Points
- The benchmark for single-family homes (Core) is about $1.33 million in May 2025, which is about 1.3% more than last year.
- Condo prices are expected to be $564,000 in May 2025, which is about 0.9% less than last year.
Prices are stable, which is good for sellers and smart for buyers.
2.3 Expected Trends
RE/MAX says that prices will go up by 4% in 2025. Prices for condos will go down because the inventory will be stable. Retirees looking for ground-floor condos ($1M) are still a key group.
- Janine Thomson Realtor +12
- RE/MAX Blog +12
- Brad MacLaren +12
- YouTube
2.4 Lack of Resources and Demand
Victoria’s limited geography makes sure that demand stays high. A user on Reddit talks about price pressure:
“Victoria doesn’t follow the trends in the rest of the country… There will never be enough supply to meet demand. You have to pay too much to buy anything.”
— Reddit
3. Options for Downsizing and Best Practices
3.1 Terrace Homes vs. Condos on the Ground Floor
Retirees like ground-floor condos that are close to amenities because they are easy to live in.
Many people put a high value on buildings that:
- Don’t have stairs
- Have electric vehicle charging stations
- Are safe
3.2 Communities for Different Ages
Arbutus Ridge and other active adult communities were the first to use the model of:
- One-level ranchers
- Eco-friendly features
- Communal living
People who want places that are easy to take care of and friendly will like these options.
3.3 Options for Aging in Place
Some people who downsize stay in their current homes for a long time by adding universal design features like:
- Grab bars
- Zero-threshold showers
- Stair lifts
- Janine Thomson, a real estate agent
- Victoria Fung *PREC +1
This hybrid model gives you both comfort and freedom.
4. Checklist for Process and Preparation
4.1 Getting Ready Emotionally
It’s hard to sort through decades’ worth of stuff.
Top tips:
- Start early
- Work on one room a week
- Get professional help
- Victoria News
- Berwick and other communities suggest moving into your new home first to lower stress
- Realtor Janine Thomson +9
- Victoria News +9
- seniors101.ca +9
4.2 Getting Rid of Clutter and Organizing
Local services that can help with the logistics of downsizing include:
- Good Riddance
- Simply Spaces
Also helpful:
- Lawyers
- Financial planners
- Estate planners (for tax issues related to property sales)
- seniors101.ca +3
- Realtor Janine Thomson
- Greater Victoria Property Group +3
4.3 Hiring Specialized Realtors
Certified Seniors Real Estate Specialists (SRES®) in Victoria are experts in helping seniors move, including:
- Financial aspects
- Legal matters
- Emotional transitions
- Victoria News +8
- homesofvictoria.ca +8
- Victoria Fung *PREC +8
5. Plans for Money and Lifestyle
5.1 Equity and the Cost of Living
Selling a single-family home for about $1.3 million and buying a condo for less than $1 million can free up more than $300,000 to:
- Invest
- Use for retirement goals
5.2 Effects on Taxes and Income
When making a budget, consider:
- Condo strata fees
- Property taxes
- Cost of living
Financial advisors in Victoria help people plan.
- Brad MacLaren
- Business Examiner
- Wikipedia
- Janine Thomson Realtor
- Realtor Janine Thomson
- Brad MacLaren +13
5.3 Things to Do in the Community
Being close to:
- Public transportation
- Healthcare
- Recreation
- Walkable areas
…makes retirement better.
6. Advice That Will Always Work for Long-Term Success
6.1 Think of Downsizing as an Upgrade to Your Life
This stage is more than just a move; it’s a chance to:
- Simplify your life
- Embrace freedom
- Create a lifestyle that fits your values
- Victoria Fung *PREC
6.2 Stay Flexible and Open to Change
- Be open to timing the market
- Use professional advice on mortgage rates, fees, and property trends
6.3 Put Well-Being First
- Pick a place to live that supports your health, social life, and independence
6.4 Use Local Resources
Resources include:
- Transfer specialists
- Community workshops (like the Monterey Centre)
- Downsizing events
All offer helpful advice that is based on what is best for you.
7. Cases from Victoria in Real Life
7.1 Jill Ellis at Berwick House
Jill moved into her retirement suite before selling her home, which made the move less stressful.
Professional services helped with getting rid of extra furniture.
- Victoria News
7.2 Team Approach: Herrick and Home Again
A realtor-led partnership brings together:
- Real estate
- Financial services
- Transition services
…to make moving to retirement easier.
In Conclusion
Downsizers can confidently make the move to retirement by learning about Victoria BC real estate trends, opportunities in their area, and best practices.
This roadmap is a timeless guide for retirees who want to feel:
- Safe
- Simple
- Happy
…in beautiful Victoria. It covers everything from financial benefits and health-focused design to emotional preparation and access to local resources.
What to Do Next
- Talk to an SRES® about making a personalized plan for moving
- Join workshops on how to downsize to get help with planning
- Start clearing out your home and doing assessments early
- Look into different types of housing, like:
- Condos
- Age-restricted communities
- Modifications that let people stay in their homes as they get older
Downsizing can be a rewarding step when done carefully, making life easier and better at the same time.
