If you've been out walking your neighbourhood lately, you may have noticed a few more For Sale signs than usual, and some of them staying up a little longer. That observation lines up with the numbers. September was the month Greater Victoria's market quietly shifted, and it's worth understanding what changed and what didn't before reading too much into the headlines.

Sales Slowed Noticeably in September

A total of 463 properties sold across the Victoria Real Estate Board region in September. That's down 16.4% from September of last year and 21.7% lower than August. Single family home sales fell 17.3% year over year with 239 sold, while condo sales dipped 11% with 137 units sold. Townhomes saw the biggest pullback, down 26.4% with 53 sold.

At the same time, inventory kept building. There were 3,811 active listings at the end of the month, up 4.1% from August and 3.2% higher than this time last year. More homes to choose from and fewer buyers making moves is the combination that tips a market in the buyer's favour.

Prices by Area and Type

Benchmark prices softened slightly in most areas, but the story varies depending on where you're looking and what kind of home you own. Here's how each part of the region compared to September 2025.

Single Family Homes

Victoria Core: $1,280,100, down 2.0% year over year

Westshore: $1,019,800, down 1.2% year over year

Peninsula: $1,261,000, down 1.4% year over year

The Peninsula held up best over the past month, slipping only 0.4% from August. The Core saw the largest monthly adjustment at 1.7%, which is still a modest move for a market of this size.

Condos

Victoria Core: $547,800, up 1.0% year over year

Peninsula: $639,900, up 3.4% year over year

Westshore: $478,800, down 4.0% year over year

Peninsula condos were the only benchmark in the entire report to rise from August, up 1.5% in a single month. For downsizers looking at Sidney and the surrounding communities, that tells me demand for low maintenance living close to the water is holding steady.

Townhomes

Victoria Core: $829,400, down 1.7% year over year

Westshore: $703,100, down 0.8% year over year

Peninsula: $828,100, up 0.9% year over year

Townhomes gave back some of the gains they showed last month, with the Core dipping 3.1% from August. Because fewer townhomes are selling overall, a handful of sales can move these numbers more than usual, so I'd treat them as a direction rather than a verdict.

What a Buyer's Market Actually Means

The sales to active listings ratio dropped to roughly 15% in September. Based on research by the BC Real Estate Association, anything below 17% points to downward pressure on prices, which is how a buyer's market is defined in Victoria. VREB Chair Fergus Kyne noted that outside the early pandemic months, this is the first buyer's market we've seen here since January 2015.

He was also quick to add that one month doesn't make a trend, and I agree. September looked very different from July and August, and October could look different again. What I'm hearing in my own conversations is that buyers are taking their time, asking good questions, and feeling less pressure to compromise. Sellers who are priced for today's conditions are still finding buyers, but the margin for overpricing has gotten much smaller.

Inflation and Mortgage Rates

Canada's inflation rate held at 3.0% in August for the second month in a row, driven largely by gasoline prices. The Bank of Canada's preferred core measures sit much closer to its 2% target, which gives the Bank room to stay patient. The overnight rate has held at 2.25% since October 2025, and the next announcement comes at the end of October.

If you're wondering how today's rates would affect a purchase or an upcoming renewal, I'm always happy to connect you with a mortgage broker I trust. Looking at your whole financial picture is what gives you real clarity, and the rate is only one part of it.

Population Growth Has Nearly Stalled

Statistics Canada's latest estimates show BC's population grew just 0.1% between July 2025 and July 2026, the slowest of any province. The number of non-permanent residents in BC also kept declining, which continues to soften demand in the rental and entry level condo markets. At the same time, the share of British Columbians aged 65 and older rose to 21.1%. That's a trend I see every day in my work with downsizers who are thinking carefully about what their next chapter should look like.

Financial Pressures Are Still Real

Many homeowners are renewing their mortgages at rates well above what they locked in a few years ago, and that adjustment is showing up in household budgets across the region. If you have a renewal coming up in the next year, starting the conversation early gives you more options and less stress. A calmer market is a good time to review where you stand, rather than waiting for a deadline to make the decision for you.

Looking Ahead

Inventory usually tapers off through the winter, so today's level of choice may not carry into the new year. If you're a qualified buyer, this fall offers more selection and more room to negotiate than we've seen in a long time. If you're selling, an honest conversation about pricing for today's market, rather than last spring's, matters more than ever.

For downsizers, there's an upside here that's easy to miss. If you're selling and buying in the same market, softer conditions often show up on both sides of your move, and Peninsula condos have been one of the steadiest segments we track. For anyone relocating from Toronto or Vancouver, Greater Victoria is offering more choice right now than it has in a decade. Having made that move myself, I know how much easier it feels when you aren't racing against a dozen other offers.

Thinking About Your Next Move?

Every neighbourhood and property type is behaving a little differently right now, and the headlines don't tell the whole story. Whether you're buying, selling, downsizing, or simply curious about what your home is worth in today's market, I'm happy to walk you through what these numbers mean for your situation.

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

There is a moment on every dog walk when you realize the trail is the best part of your day. At this home in  Westhills, that moment starts at your own back gate.

I am delighted to introduce 2805 Lunar Crt, a three bedroom, three bathroom Langford townhome for sale. At 1,645 square feet, it is built for families who want room to grow and for pet owners who have been dreaming of a real yard. View the listing here: 2805 Lunar Crt

The Yard Is the Story

This is one of the larger yards in the development, fully fenced and overlooking Sooke Hills Wilderness Regional Park and Mount Wells. Mature hedging adds privacy, and a 10 by 40 foot poured concrete patio with a premium cover means you can enjoy your morning coffee outside in the rain as easily as in the sun.

A gated side entrance with stairs leads from the front of the home straight to the backyard, and a second gate opens onto the path behind the home. For anyone with a dog, or kids who would rather be outside than in, that gate is a small detail with a big effect on daily life.

Inside the Home

The main floor is bright and open, with a gas fireplace, quartz countertops, and a kitchen with a large island that naturally becomes the centre of the home. Laminate flooring runs through the home, so the space feels finished from the first day.

The primary bedroom has a walk in closet, and the finished walkout basement gives you flexible space for a home office, a playroom, a media room, or a mix of all three. It is the kind of room that changes with your family as your needs change.

Thoughtful Upgrades Already Done

This home was built in 2020, which means it has had six years to settle in. The current owners have invested over $30,000 in upgrades, including the laminate flooring, a professionally finished garage floor, and the patio and its cover.

Having moved 26 times myself, I can tell you that a home with the finishing touches already complete makes a stressful transition feel much lighter. That is especially true for families upsizing from a condo or stacked townhome, who are often managing a sale, a move, and a school year all at once.

The Neighbourhood

Westhills is one of the Westshore's most active communities for people who love to be outside. Jordie Lunn Bike Park is close by, a dog park sits right next door, and an extensive network of hiking and biking trails is waiting just beyond your gate. Langford Lake is nearby for swimming and kayaking, and the YMCA and YWCA in Westhills is a short trip away.

Families will appreciate being within walking distance of Pexsisen Elementary and Centre Mountain Lellum Middle, with Belmont Secondary nearby as well. Shopping, restaurants, and quick access to the highway make the everyday routine easy.

Come and See It

If you are outgrowing a condo or a stacked townhome and picturing your next chapter with a little more space and a lot more green, I would love to show you around. There is no pressure, only a good look at a home that has been well cared for and a community that is easy to love.

You can reach me at 250-415-5656 or visit yourvanislehome.com to book a private showing.

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

Sales activity picked up in a big way this August

August closed with 591 properties sold across Greater Victoria, up 12.6% compared to August of last year. Single family homes led the charge, up 15.3% year over year with 309 sold, while condo sales climbed just as strongly, up 15.1% with 175 units sold. Townhome sales were the one softer spot, down 4.5% with 63 sold.

There were 3,662 active listings at month end, down 4.8% from July but up 1.7% from this time last year, giving buyers real choice heading into fall.

Home prices are holding steady, with some variation by area
The benchmark price for a single family home in the Victoria Core sits at $1,301,800, down 1.2% from last year. The Westshore single family benchmark is $1,031,900, up 0.5% year over year, one of the steadiest corners of the market right now. The Peninsula benchmark is $1,266,000, down 1.9% from last year.

Condos found some footing this month.
The Core condo benchmark is $553,600, up 0.9% from August 2025, and the Peninsula condo benchmark climbed to $630,300, up 3.3% year over year, the strongest gain we're tracking anywhere. The Westshore condo benchmark eased to $485,400, down 3.8% year over year.

Townhomes stayed steady overall, with the Core benchmark at $856,300, up 1.7% year over year. Even with fewer townhomes changing hands, the ones that sold held their value well.

Buyers are engaged and moving with confidence
The sales to active listings ratio sits comfortably around 20%, right in the balanced range. What's standing out in my conversations lately isn't hesitation, it's buyers who've done their homework and are ready to act when the right home comes along.

Inflation and mortgage rates
The Bank of Canada held its overnight rate steady at 2.25% through to September 2nd, unchanged since October of last year. Most economists expect mortgage rates to remain relatively stable through the rest of 2026. If you want to better understand how this rate hold would affect you and your mortgage options, I’m happy to connect you with a great mortgage broker. Looking beyond rates at your whole financial situation will provide a clearer picture.

Population growth remains slow
BC's population growth has continued to slow, and federal policy changes reducing non-permanent residents continue to weigh on demand in the condo and rental markets, even as permanent immigration holds relatively strong.

Financial pressures are real
Mortgage renewals continue to land at rates well above what many homeowners locked in a few years ago, and delinquencies in BC remain above year ago levels. For homeowners approaching a renewal, getting ahead of your options continues to matter.

Looking ahead
The rest of 2026 continues to shape up as a balanced market with strong inventory and buyer choice, steady prices overall, and mortgage rates likely to hold near current levels through year end. Well priced, well prepared sellers, particularly of single family homes and townhomes, are still achieving strong results.

Thinking about making a move?
Every neighbourhood and property type is performing differently in today's market. Whether you are buying, selling, downsizing, or curious about what your home is worth right now, I'm happy to walk you through what this market means for your unique situation.

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

There's a shift that happens every year around this time. The evenings start cooling off a little earlier, the light gets softer, and even though summer isn't quite over, you can feel fall coming. It's also when I start hearing from a lot of people who've been thinking about selling and want to know what they should be doing right now to get ready.

If that's you, you're not alone, and you're not behind. Late summer is actually one of the best times to start preparing, because it gives you a few quiet weeks to get things in order before the fall market picks up. Here's where I'd start.

Give Yourself Time to Declutter, Not Just Clean

Decluttering isn't the same as tidying up for a weekend. It's about walking through your home room by room and being honest about what you actually want to bring with you to your next chapter. This part often takes longer than people expect, especially if you've been in your home for years, so starting now instead of the week before your listing goes live makes a real difference. It doesn't need to happen all at once either. A little bit each week adds up faster than you'd think.

Handle the Small Repairs You've Been Putting Off

Every home has that list. A dripping faucet, a door that sticks, a spot of paint that's been touched up one too many times. None of these are dealbreakers on their own, but buyers notice them, and they add up to an impression. Fall is a great time to work through that list while the weather still cooperates for anything outdoors, like touching up trim or clearing gutters before the rain really sets in. Need a recommendation for a great tradesperson? I’ve got you, just reach out.

Think About Curb Appeal Before the Days Get Shorter

As the light changes, so does the way your home looks from the street. A few simple things go a long way here. Clearing fallen leaves, adding a warm light by the entryway, and making sure walkways are clear and well lit all help your home feel welcoming even as the season shifts. First impressions still happen at the curb, fall or not.

Get a Clear Picture of Where You Stand

Before you do anything else, it's worth having an honest conversation about where your home sits in today's market. That's not about pressure or a hard sell. It's about giving you real information so you can make a decision that actually fits your timeline, whether that's this fall or further down the road. A home evaluation is a good place to start, and it costs you nothing but a conversation. Let me know if you’d like an honest valuation.

You Don't Have to Figure This Out Alone

If you're downsizing, there's an emotional side to this too, and I don't think that ever gets talked about enough. Letting go of a home is rarely just about square footage. If any of this feels like a lot to carry on your own, that's exactly where I come in. I'd rather slow things down and walk through it with you than have you feel rushed into decisions that don't feel right.

If you've been quietly thinking about what's next, I'd love to talk it through, no pressure and no script. You can also grab a copy of my smart downsizing guide any time at yourvanislehome.com if you want a starting point before we chat.

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

There is a particular kind of morning that happens in Belmont. Coffee in hand, a short walk to the market, maybe a stop along the Galloping Goose Trail before the day gets going. It is the kind of everyday rhythm that made me excited to list this home, and I think it might be exactly what a lot of buyers out there are looking for right now.

I am thrilled to share that 236-920 Reunion Ave, a bright two bedroom, two bathroom condo at Reunion at Belmont. View here: https://yourvanislehome.com/officelistings.html/listing.1046848-236-920-reunion-ave-langford-v9b-0w8.109571637

This home sits steps from Belmont Market and the Galloping Goose Trail, in one of the most walkable pockets of the Westshore. The kitchen features quartz countertops, stainless steel appliances, under cabinet lighting, and a spacious island that makes room for both quick mornings and slower evenings. Wide plank flooring runs throughout, and the smart split bed layout keeps the primary suite private while the second bedroom stays close by, ready to become a nursery, a guest room, or a home office as life shifts and changes.

The primary suite includes a double sided closet and a full ensuite, and since the current owner purchased the home, they have added a heat pump, so heating and cooling stays effortless through every season. Along with in suite laundry, extra storage, and a private balcony, the unit comes with a dedicated parking stall with EV charger roughed-in.

As a resident, you will also have access to the building's full range of amenities, including a fitness centre, a resident lounge and outdoor relaxation area, a BBQ terrace, a pet wash and off leash dog park, and bike storage with a repair station. And when the weekend rolls around, Glen Lake, Thetis Lake, and Goldstream Park are all just minutes away, whether you are looking for a quiet paddle or a longer hike.

I have spent the last three years getting to know the Westshore, the Peninsula, and everything in between, and buildings like Reunion at Belmont are a great example of why so many people are choosing to put down roots here. It is a community that feels connected, walkable, and genuinely easy to live in, whether you are just starting out, growing a family, or simply looking for a home that fits your day to day life a little better.

If this feels like it could be your next chapter, I would love to show you around in person. You can find full photos, floor plans, and details on the listing page, and I am always just a call or message away.

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

Sales Rebound, Inventory Grows & Balanced Conditions Firmly Take Hold

Through February, both the broader Canadian economy and the Greater Victoria housing market continued settling into a more stable and predictable rhythm after several years of rapid change.

We are no longer in a volatility-driven market.
We are in a strategy-driven one.

The Economy at a Glance

On January 28, the Bank of Canada held its key overnight rate at 2.25%, reinforcing stability in borrowing costs.

Nationally, economic growth has softened. GDP contracted in the final quarter of 2025 — the slowest annual growth since 2020 — with trade uncertainty and slowing manufacturing output contributing to weaker momentum.

The labour market remains mixed. While employment has shown resilience in some sectors, elevated unemployment levels and cautious hiring have tempered consumer confidence.

The key takeaway for homeowners and buyers alike is this: interest rates are steady and economic signals are clearer. Stability — even modest stability — reduces uncertainty and allows households to plan.

Greater Victoria Market – February 2026

February marked a noticeable shift locally.

A total of 465 properties sold across the Victoria Real Estate Board region.

That represents:
• 37.2% more sales than January 2026
• 11.9% fewer sales than February 2025

The year-over-year decline reflects normalization from stronger 2025 activity. The significant month-over-month increase signals spring momentum building.

Property Type Breakdown

Single Family Homes
206 sold
↓ 12% compared to February 2025

Condominiums
154 sold
↓ 19.8% compared to February 2025

Townhomes
66 sold
↑ 11.9% compared to February 2025

Townhomes were the only segment to see year-over-year growth, suggesting continued demand for mid-range housing options.

Inventory: The Defining Story

At the end of February, there were 2,903 active listings on the Victoria Real Estate Board MLS®.

That is:
• Up 10.6% from January 2026
• Up 10.4% from February 2025 (2,630 listings last year)

This rising inventory is what has moved our market firmly into balanced territory.

A balanced market means:
• Buyers have choice
• Sellers face competition
• Pricing matters more than urgency

We are no longer in scarcity conditions. But we are also not in a buyer’s market oversupply environment.

Prices in the Victoria Core

The MLS® Home Price Index (HPI) benchmark values tell a very steady story.

Single Family Home Benchmark
February 2025: $1,319,100
February 2026: $1,307,400
↓ 0.9% year over year
↑ From January’s $1,265,500

Condominium Benchmark
February 2025: $549,600
February 2026: $545,600
↓ 0.7% year over year
↑ From January’s $537,800

Townhome benchmark (Victoria Core): $842,800

The key detail: both single-family and condo benchmarks increased from January levels.

That signals stabilization — not decline.

Prices are not accelerating rapidly.
They are adjusting gradually and holding relatively steady.

What This Means for Buyers

Buyers are operating in a healthier environment than we’ve seen in years.

With nearly 3,000 listings available, there is more time to compare properties and negotiate thoughtfully.

Interest rates are stable. Inventory is elevated. Competition is measured.

However, well-priced homes in desirable neighbourhoods still attract attention quickly. Preparation and clarity remain advantages.

Balanced does not mean slow — it means strategic.

What This Means for Sellers

Demand is present — but it is selective.

The 37% jump in sales from January shows buyers are active as we approach spring. But with more inventory available, pricing and presentation are critical.

Testing the market is risky.
Entering strategically is effective.

Balanced conditions reward sellers who understand positioning.

Mortgage Renewals & Refinancing

Even if you are not planning to move, this market matters — especially if you have a mortgage renewal approaching.

Many homeowners who secured ultra-low fixed rates several years ago are now renewing at higher rates. While the Bank of Canada has held its key rate steady, payments may increase for some households at renewal.

Reviewing your renewal strategy early can provide flexibility and clarity.

If helpful, I’m happy to connect you with a trusted mortgage professional to explore renewal options, refinancing strategies, or simply review your numbers before your term comes up.

Looking Ahead to Spring 2026

February’s activity suggests we are entering spring with:

• Rising inventory
• Stabilizing prices
• Renewed month-over-month sales momentum
• Balanced market conditions

We are not seeing rapid appreciation.
We are not seeing distress.

We are seeing normalization.

For move-up buyers, downsizers, and long-term planners, balanced markets often create some of the best opportunities — because both sides of the transaction operate under similar conditions.

If you’d like a deeper breakdown of what this means specifically for your neighbourhood — Sidney, the Peninsula, Westshore, Victoria Core — I’m always happy to provide a personalized update.

If you’re considering a move — whether upsizing, downsizing, or relocating within Greater Victoria — planning early will create the strongest outcome.

Jacqueline Ross, REALTOR®
Your Van Isle Home
(250) 415-5656
jac@yourvanislehome.com
Instagram | Facebook

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