Greater Victoria in September 2026
The Victoria Real Estate Board recorded 463 home sales in September 2026 — down 16.4% from the 554 sold in September 2025 and 21.7% from August. Single-family sales fell 17.3% to 239 and condominium sales 11% to 137. Active listings stood at 3,811, up 4.1% from August and 3.2% above a year earlier. The single-family benchmark in the Victoria Core fell 2.0% year over year to $1,280,100 (from $1,301,800 in August), while the condominium benchmark rose 1.0% year over year to $547,800 (from $553,600 in August).
Board Chair Fergus Kyne said, “September closed with inventory levels outpacing sales to a degree we haven’t seen in many years. The numbers indicate that the Victoria housing market has ventured into buyer’s market territory.” Excluding the pandemic months, he noted it is the first buyer’s market since January 2015, but cautioned that “one month does not make a trend.”
Source: Victoria Real Estate Board (VREB), monthly statistics package, September 2026 (published October 1, 2026).
Benchmark Prices
Single-family benchmark prices in the Victoria Core eased 1.7% from August’s $1,301,800 to $1,280,100, down 2.0% from a year ago, while the condo/apartment benchmark slipped 1.0% from $553,600 to $547,800 — still 1.0% higher than September 2025. 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) | $1,280,100 | ▼ 1.7% | ▼ 2.0% |
| Apartment / Condo | $547,800 | ▼ 1.0% | ▲ 1.0% |
Source: Victoria Real Estate Board (VREB), monthly statistics package, September 2026 (published October 1, 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
Of September’s 463 sales, 239 were single-family homes and 137 were condominiums; the remainder were other property types. Single-family sales fell 17.3% year over year and condo sales 11%. With active listings up 3.2% year over year against sales down 16.4%, inventory is outpacing sales by more than at any point in the past decade, which is why VREB describes the market as having moved into buyer’s territory.
Source: Victoria Real Estate Board (VREB), monthly statistics package, September 2026.
What's Driving the Market
VREB Chair’s take: “There is a strong supply of inventory available in our market right now,” said Chair Fergus Kyne, “but there is also a lack of certainty in many other aspects of our lives that may be contributing to lower sales activity. If you’re a qualified buyer and you’re looking for a new home, this might be a good time, because inventory generally decreases into the winter.” He added that “September’s market looked very different from July and August, and conditions could shift again.”
Single-family vs. condo divergence: The two segments are moving differently. The single-family benchmark fell 2.0% year over year while the condo benchmark rose 1.0%, and single-family sales fell more sharply (−17.3%) than condo sales (−11%) — a sign that the weakness is concentrated in the detached segment even as condo values hold up.
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.