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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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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The Greater Victoria real estate market is moving through spring with steady momentum—but what’s shaping today’s market isn’t just housing activity. It’s also the broader economic environment.

In April 2026, a total of 643 properties sold, up 11.1% from March and essentially flat year-over-year. At the same time, inventory climbed to 3,710 active listings, giving buyers more choice and helping create more balanced conditions overall.

The Bigger Picture: Interest Rates and the Economy

A key driver right now is the decision by the Bank of Canada to hold its overnight rate at 2.25%. Ok, but what does this mean to me… a buyer or seller?

When rates are rising quickly, buyers often pull back due to uncertainty and affordability concerns. When rates are falling, activity tends to surge. But when rates hold steady—as they are now—it creates something different: confidence and predictability.

For buyers, this means you can make decisions without worrying about sudden changes to your borrowing power. For sellers, it means the pool of active buyers becomes more stable and consistent. At the same time, the economy is still adjusting.

Unemployment has edged slightly higher in parts of Canada, and while this varies regionally, it contributes to a more cautious mindset among buyers. Household expenses—from groceries to insurance to utilities—remain elevated compared to previous years, which also impacts how buyers approach affordability.

The result isn’t a slowdown—it’s a shift in behaviour.

If you’d like to understand this further, I’m happy to connect you to my trusted mortgage partners. They can review your whole financial picture and help you understand what rates you would qualify for. Just let me know.

A Balanced Market Is Taking Shape

Right now, Greater Victoria is in what many are calling a “Goldilocks” market.

Prices have remained relatively stable:
Single-family homes benchmark around $1,339,100
Condominiums around $558,300

These small year-over-year adjustments, combined with recent monthly increases, reflect a market that is stabilizing rather than correcting sharply.

Inventory is up, buyer interest is steady, and conditions are landing in that middle ground where neither side has a strong advantage.

What This Means If You’re Buying in Victoria

If you’re buying right now, this is one of the more strategic windows we’ve seen in recent years. Seriously.

You have more choice across property types and price points
You’re less likely to face intense bidding competition
You can plan more confidently with stable interest rates

However, affordability still matters. With higher day-to-day expenses and borrowing costs compared to past years, buyers are being more selective—and that’s actually creating better long-term decisions.

What This Means If You’re Selling in Victoria

For sellers, the opportunity is still strong—but execution matters.

Homes that are priced appropriately and presented well are attracting attention
Buyers are taking their time, but they are still active and ready when the right property comes up
Overpricing or under-preparing a home can lead to extended time on market

This is no longer a market where everything sells quickly regardless of strategy. It’s a market where thoughtful positioning wins.

Why Local Expertise Matters More Right Now

Victoria is not one single market—it’s a collection of micro-markets. Real estate here is like the weather!

Sidney, Langford, Saanich, and Victoria proper are all behaving differently
Condos, townhomes, and single-family homes are each responding differently to current conditions
Even within neighbourhoods, pricing and demand can vary significantly

This is why understanding your specific segment of the market is key to making the right move.

The Bottom Line

We’re in a rare moment where housing and the economy are aligning in a way that supports balanced, informed decision-making.

Stable interest rates
Increasing inventory
Measured buyer confidence

Whether you’re buying or selling, success right now comes down to strategy—not timing the market perfectly.

If you’re curious what’s happening in your neighbourhood—or how to position yourself in this market—I’m always happy to talk it through.

👉 Reach out anytime for a conversation
👉 Or request your home value to see where you stand in today’s market

Jacqueline Ross, REALTOR®
Your Van Isle Home
250-415-5656
jac@yourvanislehome.com
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What January’s numbers, inventory levels, and interest rates mean for buyers and sellers.

As we move further into early 2026, the Victoria real estate market continues to settle into a more balanced and predictable rhythm after several years of uncertainty. With January sales now reported and interest rates holding steady, we’re seeing conditions that feel calmer, more intentional, and easier to navigate for both buyers and sellers.

The Economic Backdrop

On January 18, the Bank of Canada announced it would hold its overnight rate steady. This reflects an economy that is gradually cooling without showing signs of major stress. Inflation has continued to ease, employment remains relatively strong, and recent GDP numbers have been inconsistent month to month.

Most major banks expect the overnight rate to remain near 2.25% through much of 2026. While rates are lower than they were a year ago, the bigger shift is stability. That predictability is helping buyers plan more confidently and giving sellers greater clarity around demand.

Greater Victoria Market – January 2026

According to the Victoria Real Estate Board, 339 properties sold across the region in January. This was down from January 2025 and slightly below December, following typical seasonal patterns.

Condominium sales declined year over year, with 109 units sold.
Single family home sales also dipped compared to last January, with 153 homes sold.

Inventory remains the standout story. At the end of January, there were 2,624 active listings on the MLS®, up from both December and the same time last year. This increase in supply is easing upward pressure on pricing and giving buyers more choice than they’ve had in several years.

Board Chair Fergus Kyne noted that the market is currently sitting between balanced and buyer-leaning conditions. While one month doesn’t establish a long-term trend, January offered more selection for buyers and clearer expectations for sellers.

Pricing Trends in Victoria

Benchmark prices continue to adjust modestly. The MLS® Home Price Index benchmark value for a single family home in the Victoria Core was down approximately 2.5% compared to January last year, though prices did rise slightly from December. 

Condominium benchmark values were down about 1.5% year over year and softened from December levels.

Overall, this reflects a market that is adjusting rather than correcting, with values supported by long-term demand and improved affordability compared to recent years.

What This Means for Buyers and Sellers

For buyers, today’s market offers more choice, less competition, and stable borrowing conditions — creating space to make thoughtful decisions instead of rushed ones. Local mortgage professional Paul Macara of Macara Mortgages notes that uncertainty doesn’t automatically mean risk. When confidence is lower, buyers often gain more time to negotiate and focus on fit: the right home, the right payment, and the right mortgage structure.

“When the headlines feel noisy, the goal is simple: make sure your mortgage plan still fits your life.”
— Paul Macara, Mortgage Professional, The Mortgage Group

If you’d like an introduction to the team at The Mortgage Group, I’m always happy to connect you so you can explore your options with clarity and confidence.

For sellers, this is a market that rewards preparation, strong presentation, and realistic pricing. Buyers are moving more intentionally, and understanding how your specific neighbourhood is performing matters more than ever.

Whether you’re buying, selling, or reviewing your mortgage options, this market is less about reacting to headlines and more about making decisions that align with your longer-term plans. 

Looking Ahead to 2026

As the year continues, earlier interest rate cuts are beginning to bring some buyers back into the market, particularly those who paused during periods of uncertainty. At the same time, higher inventory levels and affordability considerations are keeping price growth in check.

Most experts are forecasting steady, measured improvement rather than a rapid rebound — a healthier pace for long-term market stability.

Whether you’re planning to buy or sell in 2026, I’d love to walk you through what this market means for your specific plans. Reach out to me at anytime 250-415-5656.

Jacqueline Ross
REALTOR® | Coldwell Banker Oceanside Real Estate
📞 (250) 415-5656
✉️ jac@yourvanislehome.com
🌐 www.YourVanIsleHome.com
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