Executive Summary
The Victoria, British Columbia real estate market is currently classified as a balanced market. The median asking price is $690K, up 7.0% over the past 30 days.
There are currently 485 active listings, representing 7.7 months of inventory. Inventory has increased 78.0% compared to last month.
Currently, listings spend an average of 38 days on market and the average price per square foot is $726.
Detached properties make up the largest share of the Victoria market at 24% of active listings with an average price of $1.5M. Condo listings follow at 76% (avg $738K).
Sales Activity & Absorption
Volume
Market Signals
Victoria Real Estate Board reported 339 sales this period, 219 new listings appeared in the past month.
Victoria Real Estate Board Monthly Report
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.
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, January 2026
Market Balance
Months of Inventory
Moderate absorption — healthy turnover.
With 7.7 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 | 15 | $864K |
| Opal Victoria | 7 | $897K |
| Vivid At The Yates | 6 | $513K |
| The Pearl Residence | 5 | $1.0M |
| Tresah East | 5 | $425K |
| Victoria | 5 | $360K |
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
The market is relatively balanced between buyers and sellers. The Victoria market currently has 485 active listings with a median price of $690K and 7.7 months of inventory.
- High inventory (7.7 months) favors buyers
- Prices rising (7% in 30 days)
- Low price reduction rate (0% of listings)
- Average price per square foot is $726
Market data is calculated from active and recently sold MLS listings as of February 28, 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.