Victoria Real Estate Board Reports Balanced Market in May 2026 with 713 Sales

Victoria Real Estate Board — May 2026

In May 2026, the Victoria Real Estate Board recorded 713 property sales, reflecting an 8.4% increase compared to the previous year. Active listings rose to 4,029, marking the highest inventory level in eleven years.

Market Analysis

The Victoria real estate market demonstrates balanced conditions as of May 2026, with a months of inventory (MOI) at 5.7, slightly down from 5.8 in April. This balance indicates that supply and demand are relatively equal, allowing buyers to explore their options more thoroughly. The total sales of 713 properties show a notable increase of 10.9% from April 2026, although it is 5.9% lower than the 758 sales recorded in May 2025, suggesting a shift in buyer activity as the spring season progresses.

The increase in active listings by 8.6% from April 2026 and 8.4% year-over-year indicates that sellers are responding to the current market dynamics. With more homes available, buyers are taking their time to make informed decisions, leading to a more competitive environment where pricing strategies are crucial. Sellers are encouraged to understand their property's value in this evolving market to attract potential buyers effectively.

Property Type Analysis

While specific benchmark prices for property types are not available, the sales breakdown indicates varying trends across different categories. Detached homes saw a decrease in sales by 4% year-over-year, with 385 units sold, while condominiums experienced a more significant decline of 14.9%, totaling 188 units sold. This disparity highlights the differing buyer preferences and market conditions affecting each property type.

The attached/townhouse segment remains unreported for this month, but the overall trends suggest that buyers are gravitating towards properties that offer more space and flexibility, likely influenced by changing lifestyle needs post-pandemic. The market's balanced nature allows for a diverse range of options for buyers across all property types.

Regional Highlights

The Victoria region continues to experience significant changes in its real estate landscape. The increase in active listings to 4,029 is a noteworthy trend, as it provides buyers with a wider selection of homes than seen in over a decade. This influx of inventory is crucial in meeting the demand from buyers who are now more discerning about their choices, leading to a more methodical purchasing process.

Additionally, the slight increase in the benchmark value for single-family homes in the Victoria Core to $1,339,000, up 0.3% from the previous year, indicates a stable appreciation in property values despite the fluctuations in sales volume. This stability is essential for maintaining buyer confidence in the market.

For Buyers

Prospective buyers are advised to take advantage of the current inventory levels and explore various properties before making a decision. With the market offering a balanced environment, buyers should work closely with their REALTORS® to understand the nuances of pricing and property features that align with their needs.

For Sellers

Sellers looking to enter the market should focus on competitive pricing and a clear understanding of their property's value in the current landscape. Engaging with a knowledgeable REALTOR® can provide insights into recent market trends and help position their property effectively to attract potential buyers.