July brought a familiar rhythm to Greater Victoria real estate. Sales activity stayed close to where it has been all summer, inventory continued to build, and buyers kept taking their time with the growing number of options in front of them. If June's numbers pointed toward a market finding its footing, July confirms it.
What sold in July
A total of 673 properties sold across the region in July, down just 1% from July 2025 and down 6.4% from June's 719 sales, a typical seasonal slowdown as summer settles in. Single family home sales actually rose, up 4.1% year over year with 331 sold. Condominium sales told a different story, down 7.1% year over year at 209 units, and townhome sales softened further, down 15.5% year over year with 82 sold. Victoria Real Estate Board Chair Fergus Kyne called it a solid month, noting that sales came in above the five year average for a typical July.
What inventory is doing
There were 3,847 active listings at the end of July, down 5.1% from June but still up 3.9% from this time last year. That gives buyers meaningfully more to choose from than they had a year ago and something worth sitting with. With this much choice available, some buyers are taking longer to decide, and a few are even feeling a little overwhelmed by the options in front of them. That is exactly where having someone in your corner who knows the market makes a real difference, helping you focus on what actually matters for your situation instead of getting lost in the noise.
Single family home prices by area
Single family benchmarks eased slightly across most of the region. The Victoria Core benchmark sits at $1,311,000, down 2.8% from July 2025 and down 1.2% from June's $1,326,500. The Westshore single family benchmark is $1,034,200, essentially flat year over year at down 0.3%, and up 1.1% from last month, making it one of the more stable pockets of the region right now. The Peninsula benchmark is $1,275,100, down 1.1% from last year. Across Greater Victoria as a whole, the single family benchmark is $1,170,200, down 1.6% year over year.
Condo prices by area
The condo market continues to see the most softening. The Core condo benchmark is $548,600, down 2.2% from July 2025. The Westshore condo benchmark sits at $493,600, down 1.8% year over year and down 2% from June alone. The Peninsula remains the outlier in the best possible way, with a condo benchmark of $618,900, up 1.2% from last year, the only area still moving in a positive direction. For anyone considering a condo purchase in the Core or Westshore, there is genuine room to negotiate right now.
Townhome prices by area
Townhomes are the one segment holding steady and even gaining ground. The Greater Victoria townhome benchmark is $795,900, up 0.8% year over year. The Core benchmark sits at $857,300, up 1.9% from last year. The Westshore townhome benchmark is $721,000, flat year over year. The Peninsula townhome benchmark is $842,100, up 0.7% from last year. Even with fewer townhomes changing hands this month, the ones that are selling are holding their value well.
What this means if you are buying
With inventory up nearly 4% from a year ago and condo sales down significantly, buyers have room to be selective, especially in the condo segment. That said, more choice can cut both ways. If you have been feeling a little overwhelmed scrolling through listings, that is normal, and it is exactly the kind of moment where a second set of eyes helps you separate what is genuinely a good fit from what just looks good in photos.
What this means if you are selling
Single family homes and townhomes are still performing well, particularly on the Peninsula, while condos are facing more competition for buyer attention. Pricing accurately from the start matters more in a market like this one, where buyers have the luxury of comparison. A home that is priced right and presented well is still finding a buyer, often quickly.
The market in plain terms
Greater Victoria remains in balanced territory, where neither buyers nor sellers hold a significant advantage overall. What is more useful than that headline number is understanding your specific segment. Single family and townhome sellers are in a healthier position than condo sellers right now, and buyers across every category have more time and more options than they have had in years.
Whether you are buying, selling, or your mortgage is coming up for renewal
Market shifts like these do not just affect people actively house hunting. If your mortgage is coming up for renewal in the months ahead, it is worth understanding how today's rates and your options compare to when you first signed. I work closely with Paul Macara, a mortgage broker I trust completely, and I am always happy to make that introduction, whether you are buying your first home, selling and moving on to the next one, or simply want to know where you stand before a renewal date arrives. There is no pressure and no obligation, just a clear picture of your options.
If you would like to talk through what any of this means for you specifically, reach out any time.
Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
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