Greater Victoria in July 2026
The Victoria Real Estate Board recorded 591 home sales in August 2026 — up 12.6% from the 525 sold in August 2025, though down 12.2% from July. Single-family sales rose 15.3% to 309 and condominium sales 15.1% to 175. Board Chair Fergus Kyne described sales activity as "stronger than we’ve seen in five years, while inventory remained at healthy levels." Active listings stood at 3,662, down 4.8% from July but 1.7% above a year earlier. The single-family benchmark in the Victoria Core eased 0.6% year over year to $1,301,800, while the condominium benchmark rose 0.9% to $553,600.
Kyne characterized conditions as buyer-favourable: elevated active inventory is giving buyers "so much choice," pushing sellers to invest more in presentation and pricing discipline to compete. Demand is not uniform across property types — single-family sales actually rose 4.1% year-over-year even as prices softened, while condo sales fell 7.1% year-over-year alongside a modest price decline, suggesting demand is concentrating in detached product even as overall values ease.
Source: Victoria Real Estate Board (VREB), monthly statistics package, August 2026.
Benchmark Prices
Both tracked property categories in the Victoria Core declined year-over-year in July. Single-family benchmark prices eased 1.2% from June's $1,326,500 to $1,301,800, while condo/apartment benchmarks were nearly flat month-over-month, slipping just 0.1% from $549,200 to $548,600. VREB's monthly release for the Victoria Core breaks out single-family and condo benchmarks only — a townhouse benchmark is not published for this area.
| Property Type | Benchmark (HPI) | MoM | YoY |
|---|---|---|---|
| Single-Family (Detached) | $1,301,800 | ▼ 1.2% | ▼ 2.8% |
| Apartment / Condo | $548,600 | ▼ 0.1% | ▼ 2.2% |
Source: Victoria Real Estate Board (VREB), monthly statistics package, August 2026 (published August 4, 2026). Benchmark prices use the MLS® Home Price Index for the Victoria Core. VREB does not publish a townhouse benchmark for this area, so no townhouse row is shown.
Supply and Demand Breakdown
July's total of 673 sales was not broken out by property type in VREB's release, but the board's commentary points to a split market: single-family demand held up (sales +4.1% year-over-year) even as single-family prices softened, while condo sales pulled back more sharply (−7.1% year-over-year) alongside a smaller price decline. With active listings up nearly 4% year-over-year against essentially flat sales, buyers have meaningfully more selection than a year ago — the dynamic VREB Chair Fergus Kyne pointed to when he said elevated inventory is giving buyers "so much choice" and pushing sellers toward sharper pricing and presentation.
Source: Victoria Real Estate Board (VREB), monthly statistics package, August 2026.
What's Driving the Market
VREB Chair’s take: In the board’s August 2026 release, Chair Fergus Kyne described the market as holding steady — sales activity was "stronger than we’ve seen in five years, while inventory remained at healthy levels," conditions he said "continue to support our stable, balanced market." He added that buyers "continue to be selective, and homes that are well-priced and well-presented are attracting the strongest interest."
Single-family vs. condo divergence: The two segments are moving differently. Single-family sales rose 4.1% year-over-year even as single-family benchmark prices eased, while condo sales fell 7.1% year-over-year alongside a smaller price decline — a sign that buyer demand is concentrating in detached product even as overall values soften slightly across the board.
Qualifying in today's market: Every mortgage in Canada — regardless of the rate offered — is qualified under OSFI's B-20 stress test. See our stress test guide for how the qualifying rate is calculated and what it means for how much home you can carry. New to the market? Read our First-Time Buyer Guide for a step-by-step walkthrough of the purchase process.
Key Terms
Victoria Rents — June 2026
The most recent rent data with a confirmed bedroom-count breakdown for Victoria is from June 2026. Average asking rent across all property types was $2,258/month, down 1.8% year-over-year and down 0.5% from May. One-bedroom units averaged $1,999/month, while two-bedroom units averaged $2,642/month. Renters weighing the numbers against buying can run both scenarios in our rent vs. buy calculator.
Source: Rentals.ca & Urbanation National Rent Report, June 2026 data, published July 8, 2026.