Victoria Real Estate Market Report
Executive Summary
The Victoria, British Columbia real estate market is currently classified as a buyer's market. The median asking price is $719K, down 20.8% over the past 30 days.
There are currently 579 active listings, representing 6.2 months of inventory. Inventory has increased 68.8% compared to last month.
Currently, listings spend an average of 45 days on market and the average price per square foot is $764.
Detached properties make up the largest share of the Victoria market at 25% of active listings with an average price of $1.5M. Condo listings follow at 75% (avg $735K).
Sales Activity & Absorption
Volume
Market Signals
Victoria Real Estate Board reported 465 sales this period, 252 new listings appeared in the past month.
Victoria Real Estate Board Monthly Report
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.
View our press release and summary here. View our complete statistical package here.
For More Information
Victoria Real Estate Board Denise Hogue, Director of Communications
Phone: 250-920-4652
Source: Victoria Real Estate Board, Invalid Date
Market Balance
Months of Inventory
Moderate absorption — healthy turnover.
With 6.2 months of inventory, buyers have more options and negotiating leverage. Sellers should price competitively and be prepared for longer marketing times.
Neighborhoods
| Area | Listings | Avg Price |
|---|---|---|
| Downtown | 9 | $893K |
| Opal Victoria | 7 | $897K |
| The Pearl Residence | 6 | $1.0M |
| Tresah East | 6 | $427K |
Interest Rates & Affordability
Current Rates
Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.
Estimated Monthly Payment
This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.
Market Outlook
This is currently a buyer's market with more negotiating power for purchasers. The Victoria market currently has 579 active listings with a median price of $719K and 6.2 months of inventory.
- High inventory (6.2 months) favors buyers
- Prices declining (-20.8% in 30 days)
- Low price reduction rate (0% of listings)
- Average price per square foot is $764
Data sourced from CREA DDF® active and sold listings. Metrics computed from listing data updated daily. Prepared by Dan Braun with AI assistance, reviewed by our team.
Market data is calculated from active and recently sold MLS listings as of April 12, 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.
Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.