Victoria Real Estate Market Report for February 2026

A total of 465 properties sold in the Victoria Real Estate Board region this February, 11.9 per cent fewer than the 528 properties sold in February 2025 and 37.2 per cent more than in January 2026. Sales of condominiums decreased by 19.8 per cent from February 2025 with 154 units sold. Sales of single family homes decreased by 12 per cent from February 2025 with 206 sold.

“February’s sales definitely picked up the pace compared with sales from the previous month,” said Victoria Real Estate Board Chair Fergus Kyne. “Though our sales numbers are lower than they were in 2025, with an over 35 per cent increase month over month, and a very healthy amount of inventory currently available, it will be interesting to see how our spring market unfolds in the upcoming months.”

There were 2,903 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2026, an increase of 10.6 per cent compared to the previous month of January and a 10.4 per cent increase from the 2,630 active listings for sale at the end of February 2025.

“Last month we reported how the market rested on the threshold between balanced and a buyer’s market,” notes Chair Kyne. “Over the course of February, more activity led to increased sales which has helped to balance market conditions. When the market is in balance, it means excellent opportunities exist for buyers and sellers. If you’ve been waiting for the spring to start your home sale or search, now is a great time to connect with a local Victoria REALTOR® to start planning.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2025 was $1,319,100. The benchmark value for the same home in February 2026 decreased by 0.9 per cent to $1,307,400, up from January’s value of $1,265,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2025 was $549,600, while the benchmark value for the same condominium in February 2026 decreased by 0.7 per cent to $545,600, up from the January value of $537,800.

A total of 339 properties sold in the Victoria Real Estate Board region this January, 19.7 per cent fewer than the 422 properties sold in January 2025 and 7.6 per cent fewer than in December 2025. Sales of condominiums decreased by 25.3 per cent from January 2025 with 109 units sold. Sales of single family homes decreased by 21.1 per cent from January 2025 with 153 sold.

“This year kicked off with sales in a similar pattern to what we observed in 2023 and ‘24,” said Victoria Real Estate Board Chair Fergus Kyne. “Those years signalled the return to more predictable, seasonal patterns after the intense pace of the pandemic-influenced market we saw earlier in the decade. Different this year is that there is much more inventory on the market. Healthy levels of inventory that meet demand are critical to smooth out any upward pressure on pricing. As we move through the year, it may well be inventory levels and a combination of external factors like interest rates, global trade tensions, and consumer confidence that ultimately determine the course for our market.”

There were 2,624 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2026, an increase of 3.1 per cent compared to the previous month of December and a 9.6 per cent increase from the 2,395 active listings for sale at the end of January 2025.

“With the current strong level of inventory and fewer sales, the overall market in January rested on the threshold between balanced and a buyer’s market,” notes Chair Kyne. “A single month does not promise a long-term trend, but this does mean that January offered a good amount of selection for buyers and more defined outcomes for sellers. Our market area is small but diverse, and consists of many micro-markets, all of which have their own specific market conditions. This means that some areas may be in balance, while others may trend to a buyer’s market. To determine where a property is within the balance of markets, connect with your favourite Victoria REALTOR®.”

The Multiple Listing Service® Home Price Index* benchmark value for a single family home in the Victoria Core in January 2025 was $1,297,300. The benchmark value for the same home in January 2026 decreased by 2.5 per cent to $1,265,500, up from December’s value of $1,255,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2025 was $545,900, while the benchmark value for the same condominium in January 2026 decreased by 1.5 per cent to $537,800, down from the December value of $549,900.

A total of 451 properties sold in the Victoria Real Estate Board region this November, 18.1 per cent fewer than the 551 properties sold in November 2024 and 26.9 per cent fewer than in October 2025. Sales of condominiums decreased by 36 per cent from November 2024 with 119 units sold. Sales of single family homes decreased by 8.4 per cent from November 2024 with 241 sold.

"We observed a slowing of the pace of sales this month that we didn't experience last year at this time," said 2025 Victoria Real Estate Board Chair Dirk VanderWal. "This year-over-year difference in sales does appear to be noteworthy, but it is because last year's sales were distributed differently than they have been this year. 2025 saw higher sales counts during the spring market, whereas 2024 saw a sales rally later in the year, which is not typical. Even though our winter numbers are softer compared to last year, we are right on track for this year's total numbers to end up very close to the four years previous. In fact, compared to fewer than 400 November sales in both 2022 and 2023, this year's activity was higher."

There were 3,152 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2025, a decrease of 7.9 per cent compared to the previous month of October and an 11.1 per cent increase from the 2,836 active listings for sale at the end of November 2024.

"We could characterize the tone in November as one of patience," notes Chair VanderWal. "Buyers have plenty of options and time to make their decisions, and sellers know that well-priced and well-presented homes will sell, but that the market isn't under the pressure it had been in the early 2020s. Overall, our market remains in a balanced position. We can see that different types of properties and different locations influence where each home is on that scale of balance. To determine where the home you want to buy or sell rests between a buyers' or sellers' market, connect with your favourite Victoria REALTOR®, who can help you understand these trends and how your property fits in the current market."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in November 2024 was $1,313,900. The benchmark value for the same home in November 2025 decreased by 2.8 per cent to $1,276,700, down from October's value of $1,280,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in November 2024 was $542,100, while the benchmark value for the same condominium in November 2025 increased by 2 per cent to $553,100, up from the October value of $549,000.

A balanced Victoria real estate market continues to provide consumers with options

A total of 617 properties sold in the Victoria Real Estate Board region this October, 5.7 per cent fewer than the 654 properties sold in October 2024 and 11.4 per cent more than in September 2025. Sales of condominiums decreased by 15 per cent from October 2024 with 159 units sold. Sales of single family homes increased by 2.9 per cent from October 2024 with 350 sold.

“The local real estate market remains reasonably balanced,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “Single family homes are currently seeing the strongest demand, and this month we saw the highest number of October sales since 2020. However, condo sales were slightly more restrained than single family and townhome sales over the past month. We have not seen a significant decrease in prices as a result, but those shopping for condos will find a good variety to choose from with time to make decisions.”

There were 3,423 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2025, a decrease of 7.3 per cent compared to the previous month of September and an 8.3 per cent increase from the 3,161 active listings for sale at the end of October 2024.

“The Bank of Canada made another interest rate cut late in October,” notes Chair VanderWal. “It’s too early to determine if this will affect demand, but consumers are likely watching and waiting to see what will happen to fixed and variable mortgage rates. As we move toward winter, the housing market tends to cool off with the weather. The Victoria real estate market is dynamic, and can change course depending on consumer activity. For assistance selling or buying, connect with your favourite Victoria REALTOR® who can help you understand the trends and how your property fits in the current market.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2024 was $1,300,200. The benchmark value for the same home in October 2025 decreased by 1.8 per cent to $1,276,500, down from September’s value of $1,294,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2024 was $547,800, while the benchmark value for the same condominium in October 2025 increased by 0.6 per cent to $551,000, up from the September value of $547,500.

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Victoria real estate market finds a healthy balance in autumn

A total of 554 properties sold in the Victoria Real Estate Board region this September, 3 per cent fewer than the 571 properties sold in September 2024 and 5.5 per cent more than in August 2025. Sales of condominiums decreased by 18.5 per cent from September 2024 with 154 units sold. Sales of single family homes increased by 6.3 per cent from September 2024 with 289 sold.

“September was another stable month for local real estate,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “Stability is a good thing; we don’t want to see huge fluctuations in price or number of sales in our market. A market like we currently are in, that experiences typical seasonality, and includes a healthy amount of inventory and a good selection of interested buyers, is one where we won’t have that overheated pressure on pricing and on transactions that we saw in previous years. Our current market is fairly balanced, with less pressure on both the buyers’ and the sellers’ sides. This means each party in the transaction has time to do their due diligence and make decisions.” 

There were 3,694 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2025, an increase of 2.6 per cent compared to the previous month of August and a 9.9 per cent increase from the 3,361 active listings for sale at the end of September 2024.

“Single family homes and townhome sales remained strong last month,” adds Chair VanderWal. “The condo market proved slightly softer. Decreasing interest rates may bring more buyers into the field, including first time home buyers who often purchase condos. In these balanced market conditions, if you’re selling, it’s important your home is well-presented and correctly priced. If you are purchasing, it’s important you prioritize your needs and wants as there are more options to choose from. Your REALTOR® can help you identify the right strategy for a successful sale or purchase.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2024 was $1,279,700. The benchmark value for the same home in September 2025 increased by 1.2 per cent to $1,294,800, down from August’s value of $1,308,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2024 was $553,400, while the benchmark value for the same condominium in September 2025 decreased by 1.1 per cent to $547,500, down from the August value of $551,300.

Victoria real estate market quiet but steady to summer’s end

A total of 525 properties sold in the Victoria Real Estate Board region this August, 3.7 per cent fewer than the 545 properties sold in August 2024 and 22.8 per cent fewer than in July 2025. Sales of condominiums decreased by 16 per cent from August 2024 with 152 units sold. Sales of single family homes increased by 6.3 per cent from August 2024 with 268 sold.

“August was a quiet but steady month,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “Typical of what we’d expect for the time of year, the late summer month saw fewer sales and a small decrease in the available listings. Many people shift focus to vacations and back to school preparation in August. Home buying, selling, and moving projects are often put on hold until fall. Some sellers use the month to prepare their home for listing in the busier fall market.”

There were 3,600 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2025, a decrease of 2.8 per cent compared to the previous month of July and a 12.8 per cent increase from the 3,191 active listings for sale at the end of August 2024.

“We’ve seen fairly stable prices and interest rates for over a year now,” adds Chair VanderWal. “These factors, combined with the improved availability of inventory, have translated into a real estate market which has a much different pace than the highly pressurized conditions that made headlines five years ago. Based on our current conditions, consumers are adjusting their expectations for the time it takes to sell a property, how long they will have to make a decision, and what competition they will encounter. The current market allows buyers and sellers more time to review their options, evaluate properties, and is more supportive of planning and decision making, all of which are helpful when you’re making one of the biggest financial decisions you’ll make in your lifetime. To get started or to evaluate your options as the fall market opens, connect with your favourite local REALTOR® who has insight on up-to-the-minute market conditions.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2024 was $1,287,400. The benchmark value for the same home in August 2025 increased by 1.6 per cent to $1,308,100, down from July’s value of $1,338,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in August 2024 was $559,200 while the benchmark value for the same condominium in August 2025 decreased by 1.4 per cent to $551,300, down from the July value of $563,300.

Victoria real estate market offers good options over the summer months

A total of 680 properties sold in the Victoria Real Estate Board region this July, 4.6 per cent more than the 650 properties sold in July 2024 and 10.6 per cent fewer than in June 2025. Sales of condominiums increased by 5.6 per cent from July 2024 with 225 units sold. Sales of single family homes decreased by 0.3 per cent from July 2024 with 318 sold.

“Typically, as the school year wraps up and summer holidays begin, our housing market relaxes somewhat,” said 2025 Victoria Real Estate Board Chair Dirk VanderWal. “However, we did see a good pace of sales in July, and listing inventory remained at a stable level. This means that those shopping over the summer will have a good selection of homes to consider but it also means there is enough market activity that we could see some properties go into multiple offers.”

There were 3,703 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2025, a decrease of 2 per cent compared to the previous month of June and a 10.6 per cent increase from the 3,348 active listings for sale at the end of July 2024.

“The conclusion of July also signals the traditionally busy spring market is officially over,” adds Chair VanderWal. “Overall, I think the level of activity over the course of the spring surprised many, who were unsure how the real estate market would be impacted by economic and trade uncertainties. But throughout 2025, we have seen positive indicators of a healthy and stable market, with consistent levels of listing inventory higher than we’ve seen in recent years along with reasonably flat and predictable pricing. Moving into the late summer and then into fall when sales often increase, consumers should enjoy a good selection of properties and the time to make decisions. It’s a great time to connect with your favourite local REALTOR® for expert assistance and up-to-the-minute insights on the market if you are considering a sale or purchase.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2024 was $1,296,100. The benchmark value for the same home in July 2025 increased by 3.3 per cent to $1,338,800, up from June’s value of $1,325,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in July 2024 was $567,800 while the benchmark value for the same condominium in July 2025 decreased by 0.8 per cent to $563,300, up from the June value of $562,800.