Victoria Real Estate Board Market Report - August 2026

Victoria Real Estate Board — August 2026

In August 2026, the Victoria real estate market recorded a total of 591 sales, reflecting a 12.6% increase year-over-year. New listings reached 1,083, while active listings stood at 3,662, resulting in 6.2 months of inventory.

Market Analysis

The Victoria real estate market continues to exhibit a buyer's market condition, characterized by a significant number of active listings compared to sales. With 3,662 active listings and a sales-to-new-listings ratio (SNLR) of 54.6%, buyers have a variety of options available, contributing to the 6.2 months of inventory. The increase in total sales from the previous month, despite a higher inventory level, indicates a growing demand among buyers, likely driven by favorable economic conditions and interest rates.

Property Type Analysis

In August, detached homes dominate the market with a benchmark price of $1,301,800 and 309 sales. Meanwhile, apartments show a benchmark price of $553,600 with 175 sales, reflecting a continued interest in more affordable housing options. The attached/townhouse segment remains unreported for sales this month, but its benchmark price of $856,300 suggests it is positioned between the detached and apartment markets, appealing to a diverse range of buyers.

Regional Highlights

Regionally, the increase in new listings to 1,083 indicates a proactive approach by sellers in response to the buyer demand. The overall market dynamics suggest that while buyers have more choices, the year-over-year sales increase points to a resilient market that continues to attract interest. The slight rise in months of inventory from 5.7 in July to 6.2 in August indicates a gradual shift towards a more balanced market.

For Buyers

Prospective buyers are encouraged to take advantage of the current inventory levels, as the variety of available properties provides opportunities to negotiate favorable terms. With the sales-to-new-listings ratio indicating a buyer's market, buyers may find better pricing and conditions than in a more competitive market.

For Sellers

Sellers should remain aware of the current market dynamics and consider pricing strategies that reflect the increased inventory. With 6.2 months of inventory, it is crucial for sellers to present their properties competitively to attract potential buyers, particularly as the market shows signs of shifting towards a more balanced state.