Summer arrived on Vancouver Island and so did a shift in the mood of the market. June closed with 719 total property sales across Greater Victoria, just slightly ahead of May and part of a steadier, more measured pace that has been building throughout the second quarter of 2026. If you have been watching and waiting to understand what this market is actually doing, June's numbers give us a clearer picture than we have had in some time.

The headline is this: inventory is high, buyers have choices they have not had in years, and the market is rewarding preparation on both sides of the transaction. That is good news whether you are looking to buy or thinking about what your next move looks like.

What sold in June

A total of 719 properties changed hands across the region in June, down 5.5% from June 2025 but essentially flat compared to May. Single family home sales came in at 388, down 3.5% year over year. Condominium sales continued to soften significantly, with 182 units sold, a decrease of 26.9% compared to June of last year. Townhome sales bucked that trend, coming in at 94, up 25.3% year over year. That townhome number is worth noting, particularly for anyone in the middle of a downsizing decision or looking for a low maintenance option on the Peninsula.

What inventory is doing

There were 4,054 active listings on the market at the end of June, up 0.6% from May and 7.3% higher than this time last year. That level of inventory means buyers are spending more time comparing properties and looking carefully at value before committing. It also means that sellers who present and price their homes well are the ones standing out in a market where there is real competition for attention.

Single family home prices by area

Single family benchmarks are holding relatively firm across most of the region, though there are meaningful differences depending on where you look. The benchmark for a single family home in the Victoria Core sits at $1,326,500, down 0.6% from June 2025. The Westshore single family benchmark is $1,023,400, down 1.8% year over year. The Peninsula continues to hold its ground with a benchmark of $1,282,000, up 1.3% from last year. That Peninsula resilience is something I have been watching closely, and it continues to reflect steady, genuine demand in that area.

Condo prices by area

The condo market continues to soften across most of the region. The benchmark for a condo in the Victoria Core is $549,200, down 1.9% from June 2025 and continuing a gradual decline from May's reading of $551,400. The Westshore condo benchmark sits at $503,900, down 0.5% year over year. The Peninsula condo benchmark is $629,700, up 1.7% from last year, making it the one area where condo values are still moving in a positive direction. For buyers considering a condo purchase, particularly in the Core or Westshore, there is more room to negotiate right now than there has been in several years.

Townhome prices by area

Townhome benchmarks are relatively stable. The Greater Victoria townhome benchmark sits at $782,300, down 1.5% year over year. In the Core, the benchmark is $841,200, down 0.5% from last year. The Westshore townhome benchmark is $712,900, down 1.8% year over year. The Peninsula townhome benchmark sits at $826,800, down 1.3% from last year. Despite those modest year over year decreases, townhomes are selling with more consistency than condos right now, and the volume increase of 25.3% in June tells a meaningful story about where buyer interest is concentrated.

What this means if you are buying

With more than 4,000 active listings and condo sales down nearly 27% year over year, buyers in this market have options and negotiating room that simply did not exist two or three years ago. You have time to compare, ask questions, and find something that genuinely fits your life rather than settling because inventory was thin. That said, well priced homes in the right condition are still moving. Working with someone who knows which sub-markets are active and which are sitting longer will make a real difference in how confidently you move through this process. If you are not yet connected with a mortgage professional, this is a good time to do that. I am happy to make a personal introduction to someone I trust.

What this means if you are selling

This market is not forgiving of overpricing. Buyers are comparing properties carefully, they are taking their time, and they have enough options that a home priced above its current market value will simply be passed over. The good news is that well priced, well presented homes are selling. If you are thinking about downsizing and wondering what your current home is worth in this environment, a conversation with me is a useful starting point. I can give you an honest picture of value and help you think through the timing of both sides of that move.

The balanced market in plain terms

The sales to active listings ratio for June puts our market firmly in balanced territory, meaning there is neither strong upward nor strong downward pressure on prices overall. What that number does not capture is how differently the sub-markets are behaving. Condos in the Core and Westshore are softer. Detached homes and condos on the Peninsula are holding their value better than most. Townhomes are moving with more consistency than the condo segment. Understanding which of these markets you are operating in is the most important piece of information you can have right now.

If you would like to talk through what any of this means for your specific situation, I am always happy to have that conversation. No pressure, no pitch. Just an honest look at where things stand.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
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Some purchases come together because the timing is right, the home is right, and the buyers are ready. That was exactly the case with Unit 1 at 840 Craigflower Road in Esquimalt, and I am so pleased to share that my clients have officially found their next chapter here.

This is a 3-bedroom, 1.5-bath townhome in Shangri La Estates, a well-established strata community sitting right on the edge of Esquimalt and Vic West. At 1,315 finished square feet over two levels, it lives generously. There is a fully renovated kitchen that was taken to the studs in 2020 and rebuilt with real care, a dining area large enough for a proper dinner party, a private patio with access to common green space, and three bedrooms upstairs with a full 4-piece bath. The updates throughout are the kind that matter: hard flooring, soundproofing between units, vinyl windows, and a newer hot water tank. This was a home that had been genuinely looked after.

What made this purchase meaningful was not just the home itself but the process of getting my clients there. Of the couple, one of them was a first-time buyer. They were navigating a market with two active listings in the same complex at the same price. Understanding what each unit offered, how the strata was run, and what the numbers actually meant for their long-term budget was the work we focused on together. They did not just buy a home. They made an informed decision about a community they are going to love being part of.

Esquimalt is a neighbourhood that rewards curiosity. The walk to Banfield Park and the dock, the proximity to schools and shopping, the easy connection to downtown Victoria on foot or by bike — it all adds up to a place that feels like home quickly. I have watched this pocket of the city grow in confidence over the years, and it is a genuinely wonderful place to put down roots.

If you are starting your own search in Esquimalt or anywhere across Greater Victoria, I would love to help you find the right fit. Let's talk.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
Instagram | Facebook

May in Victoria felt like the moment people stopped holding their breath. I noticed it when a client mentioned she had spent a whole afternoon visiting three different properties and never once felt rushed. That kind of ease has not been part of the story here for a while. It tells me something real about where we are right now.

Here is what the data is showing, and more importantly, what I think it means for people who are thinking about their next move.

What the Numbers Say

A total of 713 properties sold across the Victoria Real Estate Board region in May 2026. That is 5.9% fewer than May 2025, but 11% more than April 2026, which means momentum is building even if the year-over-year comparison looks soft. Single family home sales came in at 385, down 4 per cent from last May. Condo sales were 188, down 15% from the same time last year. Townhomes were a quieter story, with 98 sales and an 9% increase over last year.

The number that matters most right now is active listings. There were 4,029 properties for sale at the end of May, up 8.6% from April and 8.4% higher than May 2025. That is the most inventory this market has seen in eleven years. If you have been waiting for more options, this is the environment you were waiting for.

What Prices Are Doing

The MLS Home Price Index benchmark for a single family home in the Victoria Core sits at $1,339,000, essentially flat compared to last May and barely changed from April. Condo benchmarks in the Core are at $551,400, down 1.9 per cent from last year. On the Saanich Peninsula, single family benchmarks are up 4% year over year at $1,292,000, which tells a different story than the rest of the region. The Westshore single family benchmark sits at $1,028,100, down almost 3% from last May.

The sales to active listings ratio for the region is sitting at roughly 17%, which puts us right at the edge of balanced market territory. Prices are not under dramatic pressure in either direction, but sellers cannot assume the market will do their pricing work for them anymore.

What This Means If You Are Buying

This is one of the better environments for buyers that we have seen in several years. More inventory means more time to think, more properties to compare, and more room to negotiate. The days of writing offers the same afternoon you viewed a home are largely behind us for now. If you have been sitting on the sidelines waiting for conditions to shift in your favour, this is worth paying attention to. The Peninsula in particular is worth a look if single family homes are your target, since values there have held and even grown modestly while other areas have softened.

What This Means If You Are Selling

Realistic pricing is the whole conversation right now. With more competition on the market and buyers taking their time, homes that are priced thoughtfully for their neighbourhood and condition are still selling. Homes that are not are sitting. The average days on market across the region varies significantly by area, and understanding where your property fits within its specific submarket matters more than broad regional trends. If you are thinking about listing this summer, the window before the seasonal slowdown is still open, but it will not be open indefinitely.

A Note for Anyone Thinking About Downsizing

May's numbers are quietly encouraging for people in the middle of this decision. More inventory means more choices at the other end of the move, whether that is a strata townhome, a ground floor condo, or a smaller detached home in a neighbourhood you have always liked but never quite lived in. If you have been wondering whether now is the right time to find out what your current home is worth and what your next chapter might look like, I am genuinely happy to have that conversation with you. No pressure, no agenda. Just two people thinking it through together.

If you are wondering what May's numbers mean for your specific situation, whether you are thinking about selling, buying, or just starting to explore your options, I am happy to talk it through. Reply to this email, or book a call here. No agenda, just a conversation.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
Instagram | Facebook

Helping you find home, and community, here in Victoria, BC.