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
Instagram | Facebook

April is one of those turning-point months in Victoria real estate. The energy shifts—more homes come to market, more buyers start looking seriously, and decisions that have been sitting quietly since winter begin to move forward.

If you’re wondering whether now is a good time to make a move (or even just thinking about it), here’s what I’m seeing on the ground right now.

More Listings, More Choice

We’re finally seeing inventory pick up across Greater Victoria, including Sidney, the Saanich Peninsula, and the WestShore.

For buyers, this means more options—and a bit of breathing room compared to the tighter conditions earlier this year.

But more choice doesn’t mean endless opportunity. The best homes are still standing out and attracting attention quickly.

Buyers Are More Thoughtful—But Still Acting

Buyers right now are taking a bit more time. They’re comparing options, revisiting homes, and making more considered decisions.

That said, when the right home comes along—well-priced, well-presented, and in a good location—they’re still stepping forward.

This is a more balanced market, but not a slow one.

Presentation Matters More Than Ever

With more listings to choose from, buyers are naturally comparing.

Homes that show well—clean, bright, and thoughtfully prepared—are the ones getting the strongest response.

This is especially important for downsizers or sellers who want to protect their value in a more competitive environment.

There’s Quiet Opportunity in Negotiation

One of the biggest shifts right now is happening behind the scenes.

We’re seeing more room for:

• Thoughtful offers

• Conditions that protect buyers

• Conversations that weren’t possible in more competitive markets

This doesn’t mean lowballing—it means strategy matters more than speed.

What This Means for You

For buyers:
You have more options right now—and the ability to make a thoughtful decision. But when the right home comes up, it’s still important to act with confidence.

For sellers:
Preparation and pricing strategy are key. The right approach can still generate strong interest and results.

Final Thoughts

Spring is often when plans start to take shape—even if the move itself happens later. If you’re thinking about downsizing, relocating, or making a change this year, this is a great time to start the conversation and understand your options.

👉 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
Instagram | Facebook

A More Balanced Spring Market Takes Shape

As we move into spring, the Greater Victoria real estate market is following a familiar seasonal pattern—activity is building, inventory is rising, and conditions are becoming more balanced.

A total of 579 properties sold in March 2026, which is 24.5% higher than February, but 5.5% lower than March 2025. This tells us the market is active, but without the urgency and pressure we saw in previous years.

Breaking it down further:

• 285 single-family homes sold (down 2.4% year-over-year)

• 164 condominiums sold (down 18.8% year-over-year)

At the same time, inventory continues to expand.

There were 3,261 active listings at the end of March, up 12.3% from February and 7.9% higher than March 2025—giving buyers more choice and helping create more balanced conditions overall.

Home Prices: Holding Steady with Subtle Shifts

Pricing in Victoria remains relatively stable, with small year-over-year adjustments and slight month-over-month gains.

• The benchmark price for a single-family home in the Victoria Core is now $1,330,200, down 1.1% year-over-year, but up from February

• The benchmark price for a condominium is $553,800, down 0.8% year-over-year, also increasing from the previous month

This tells us we’re not in a declining market—we’re in a stabilizing one.

The Economic Backdrop: Why This Matters

The real estate market doesn’t operate in a vacuum—and right now, the broader economy is playing a major role.

In mid-March, the Bank of Canada held its overnight rate steady, signaling a cautious approach as inflation continues to cool.

What this means:

• Borrowing costs are stable for now

• Buyers are gaining confidence to re-enter the market

• Sellers are seeing more serious, qualified buyers

At the same time, Canada is experiencing one of the largest mortgage renewal waves in decades.

Many homeowners are now:

• Renewing into higher rates

• Reassessing monthly affordability

• Exploring refinancing options

• Considering downsizing or lifestyle changes

What This Means If You’re Buying

This is one of the most balanced markets we’ve seen in recent years.

Buyers now have:

• More inventory and selection

• More time to evaluate properties

• Greater ability to include conditions

• Less pressure to compete

That said, desirable and well-priced homes are still moving quickly.

The opportunity right now:
Make informed, thoughtful decisions—without the pressure of a peak market.

What This Means If You’re Selling

The market is active—but buyers are more selective.

Today’s buyers are:

• Price-conscious

• Well-informed

• Less willing to overlook issues

Homes that are:

• Well-prepared

• Strategically priced

• Clearly positioned

…are still selling successfully.

The key right now:
Pricing and presentation matter more than ever.

What This Means If You’re Renewing or Refinancing

This is one of the biggest shifts happening in the market right now.

If you’re approaching a mortgage renewal, you may be facing higher rates than your previous term.

This is a good time to explore:

• Refinancing strategies

• Adjusting amortization

• Accessing equity

• Downsizing to reduce monthly costs

Having a plan early can make a significant difference.

A Note for Downsizers

This current market creates a unique opportunity for downsizers.

With more inventory available and less competition, you have:

• More choice when it comes to condos and townhomes

• More time to explore options

• Greater ability to coordinate your sale and purchase

At the same time, well-maintained homes in established neighbourhoods continue to attract strong interest.

For many, this is an ideal moment to:

• Simplify your home and reduce maintenance

• Unlock equity

• Move closer to amenities, family, or community

The Bottom Line

We’re in a more stable, opportunity-driven market—not a chaotic one.

That’s good news.

It means:

• Buyers can plan more carefully

• Sellers can still achieve strong results—with the right strategy

• Homeowners have options, even in a shifting rate environment

Thinking About Your Next Step?

Whether you're buying, selling, or planning ahead for a renewal, I’m here to help you navigate your next move with clarity and confidence.

👉 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
Instagram | Facebook

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

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.