Victoria BC Real Estate Market Statistics
August produced stronger year-over-year sales across Greater Victoria while activity eased from July and inventory remained healthy. The market continues to give buyers meaningful choice, while sellers face greater competition from other active listings.
What Changed in the Victoria Real Estate Market?
Sales improved from last summer
Greater Victoria recorded 591 total sales in August 2026, compared with 525 in August 2025. That represents a 12.6% year-over-year increase, although sales were 12.2% below July's 673 transactions. VREB characterized August sales activity as the strongest seen in five years for the month.
Inventory remains substantial
There were 3,662 active listings at the end of August, 1.7% more than a year earlier. Inventory declined seasonally from July's 3,847 listings, but supply remains high enough to give buyers meaningful choice and make accurate pricing increasingly important for sellers.
Detached and condo sales both strengthened
Single-family sales reached 309 units, up 15.3% from August 2025. Condominium sales reached 175 units, up 15.1%. The improvement in both major property categories helped lift total August activity despite the normal summer slowdown from July.
Benchmark prices remain comparatively stable
The Victoria Core single-family MLS® HPI benchmark was $1,301,800 in August, compared with $1,311,000 in July. The Core condominium benchmark was $553,600, up from $548,600 in July. These figures reinforce the picture of a market with greater selection but without a broad collapse in benchmark values.
Greater Victoria Real Estate Charts
The charts below compare the latest VREB figures with July 2026, August 2025 and recent second-quarter history.
Total MLS® Sales
August 2025 versus July and August 2026.
Active Listings
Month-end inventory across the same comparison periods.
August Sales by Property Type
Single-family and condominium sales, August 2025 versus August 2026.
Victoria Core House Benchmark
MLS® HPI benchmark for a single-family home.
Victoria Core Condo Benchmark
MLS® HPI benchmark for a condominium apartment.
Second-Quarter Sales History
VREB Q2 single-family and condominium sales, 2023 through 2026.
Data credit: Victoria Real Estate Board. August 2025 single-family and condo sales used in the comparison chart are 268 and 152 respectively, consistent with VREB's published August 2025 statistics. Benchmark values shown here use the figures currently published by VREB for the comparison periods.
August 2026 Market Comparison
| Metric | August 2026 | July 2026 | August 2025 |
|---|---|---|---|
| Total sales | 591 | 673 | 525 |
| Active listings | 3,662 | 3,847 | 3,600 |
| Single-family sales | 309 | — | 268 |
| Condo sales | 175 | — | 152 |
| Victoria Core single-family benchmark | $1,301,800 | $1,311,000 | $1,317,200 |
| Victoria Core condo benchmark | $553,600 | $548,600 | $548,900 |
What the 2026 Spring Market Tells Us
VREB's review of the second quarter showed a split market. Between April and June 2026, 1,104 single-family homes sold, compared with 1,138 in 2025, 1,078 in 2024 and 1,046 in 2023. Condominium sales were softer: 568 condos sold in Q2 2026, compared with 657 in 2025, 645 in 2024 and 695 in 2023.
The broader theme was increasing inventory and more consumer choice. That pattern continued into summer: buyers gained more time to compare properties, while sellers increasingly needed to compete on price, condition and presentation.
Why the MLS® Home Price Index Matters
Benchmark prices are not simple averages
VREB uses the MLS® Home Price Index to measure changes in the value of a representative benchmark home. The model considers housing characteristics such as location, age, size and bedrooms rather than relying only on the mix of properties that happened to sell in a particular month.
Use trends, not one isolated number
Monthly statistics provide useful market context, but they do not establish the value of a particular property. Neighbourhood, condition, lot, view, renovation quality, strata characteristics and other property-specific factors can produce results very different from regional benchmarks.
What This Market Means for Buyers and Sellers
More choice means more room for comparison
Inventory remains high enough that buyers can be selective. Use that advantage to compare condition, location, future resale appeal and competing inventory rather than focusing only on asking price.
Pricing and presentation carry more weight
Strong August sales show that buyers are active, but they have alternatives. Properties that are well-priced and well-presented are better positioned to attract serious attention in a market with substantial competing supply.
How Much Choice Do Buyers Have Right Now?
Sales and inventory are most useful when read together. August had more sales than the same month last year, but buyers were still choosing from a comparatively large pool of active properties.
August's 591 sales divided by 3,662 month-end active listings. This is a simple Listings Victoria comparison derived from VREB's published totals, not an official VREB market-balance calculation.
There were roughly 6.2 active listings at month end for every August sale. The comparable figure was about 5.7 in July 2026 and 6.9 in August 2025.
August sales were materially stronger than a year earlier even though the normal summer slowdown pulled activity below July.
August Is Normally a Slower Victoria Real Estate Month
VREB has noted that August is normally one of the slower periods of the year for transactions as vacations and summer schedules reduce the number of active buyers and sellers. Against that seasonal backdrop, 591 sales is notable: VREB described August 2026 sales activity as stronger than it had seen in five years for the month.
The month-over-month decline from July therefore should not be read in isolation. Sales fell from 673 in July to 591 in August, but they still finished 12.6% above August 2025. At the same time, active inventory declined seasonally to 3,662 listings from 3,847 in July while remaining 1.7% higher than a year earlier.
Total sales declined as the market moved deeper into the summer period.
Sales were stronger than the same month in 2025.
Buyers still had slightly more active inventory to choose from.
Greater Victoria, the VREB Region and the Victoria Core Are Not the Same Thing
Market-statistics pages can become confusing because several geographic labels are used at once. The headline sales and active-listing totals in the monthly VREB release describe activity across the Victoria Real Estate Board region. The benchmark-price examples highlighted in the same release are for the Victoria Core. Neither should be interpreted as a statistic for the City of Victoria municipality alone.
That distinction matters because Greater Victoria contains very different housing markets. Oak Bay, Saanich East, Saanich West, Langford, Colwood, Sidney, North Saanich, Central Saanich, Sooke and the City of Victoria can have different property mixes, price levels, inventory conditions and buyer pools. Regional statistics are useful for understanding direction, but a property should ultimately be compared with the market segment and location in which it actually competes.
Board-wide activity
The 591 August sales and 3,662 active listings describe the broader VREB market, not one municipality.
Victoria Core benchmark
The $1,301,800 single-family and $553,600 condo benchmark figures cited here are Victoria Core MLS® HPI values.
Property-level value
A regional benchmark cannot substitute for comparable sales, competing listings, property condition, location and other property-specific factors.
Benchmark Price vs. Average Price vs. Median Price
These measures answer different questions. VREB now emphasizes the MLS® HPI benchmark when describing price trends because it is less sensitive to a changing mix of expensive and inexpensive properties sold in a particular month.
Tracks a representative home
The benchmark is based on a notional home with typical attributes for a market segment. The HPI model considers characteristics such as location, size, age and bedrooms to estimate how the value of that representative home changes over time.
Can move with the sales mix
An average can rise simply because more high-priced properties sold during one month, or fall because the month contained a larger proportion of lower-priced sales. It remains useful, but it can be noisy over short periods.
Shows the midpoint transaction
The median is the middle sale when transactions are ordered by price. It is less affected by very high or very low outliers than the average, but it still depends on which homes happened to sell that month.
Detached Homes and Condos Are Not Moving in Exactly the Same Way
Detached-home sales were 15.3% higher than in August 2025. The Victoria Core single-family benchmark was $1,301,800, down from $1,311,000 in July and below the $1,317,200 benchmark published for August 2025.
The second-quarter picture was comparatively steady: 1,104 single-family homes sold in Q2 2026, versus 1,138 in 2025, 1,078 in 2024 and 1,046 in 2023.
Condo sales were 15.1% higher than in August 2025. The Victoria Core condo benchmark reached $553,600 in August, up from $548,600 in July and $548,900 in August 2025.
The spring pattern was softer than for detached homes: 568 condos sold in Q2 2026, down from 657 in 2025, 645 in 2024 and 695 in 2023.
Four Indicators Worth Following Through the Fall Market
Inventory direction
If active listings continue to remain elevated relative to sales, buyers should retain meaningful choice and sellers will continue to face competition from comparable listings.
Sales momentum
August was stronger than a year earlier despite the normal summer slowdown. September and October will show whether that year-over-year improvement carries into the fall market.
Benchmark-price stability
Small month-to-month HPI movements are less important than the trend that emerges over several months. VREB itself cautions against using one short period to infer the value of an individual property.
Condition and presentation
VREB has specifically noted that buyers are becoming more selective. Move-in-ready, well-priced properties are drawing stronger interest, while homes requiring work can take longer to sell.
How to Read the Monthly VREB Numbers
Total Sales
The number of MLS® transactions reported through the Board during the month across all included property types.
Active Listings
The number of listings available on the VREB MLS® system at month end. This measures available supply, not the number of new listings added during the month.
Year-over-Year Change
Compares the current month with the same month one year earlier, helping reduce some of the distortion caused by normal real-estate seasonality.
Month-over-Month Change
Compares the current month with the immediately preceding month. It is useful for momentum but can be heavily influenced by seasonal patterns.
Benchmark Home
A representative property with typical characteristics for a defined market segment, used by the MLS® HPI to track price changes over time.
Victoria Core
A VREB HPI market area used for benchmark reporting. It should not be confused with the City of Victoria municipality or the entire Greater Victoria region.
Compare the Statistics with Today's Greater Victoria Listings
Regional statistics are most useful when paired with the actual inventory buyers and sellers are competing with right now.
Important Notes About These Statistics
This page is an independent Listings Victoria interpretation of statistics published by the Victoria Real Estate Board. The underlying figures are market-level data and are intended to show broad conditions and trends. They are not a valuation of any individual property.
VREB specifically cautions that sale-price statistics are most useful when examined over a period of time rather than as a single isolated month. The Board's MLS® HPI was designed to improve trend analysis by controlling for changes in the characteristics of homes that sell from one period to another.
The simple sales-to-active-listings calculations shown on this page are derived by Listings Victoria from VREB's published monthly totals solely to illustrate the relationship between transactions and available month-end inventory. They are not identified as an official VREB ratio and should not be treated as a substitute for the Board's own market interpretation.
For a property-specific opinion of value, recent comparable sales, competing active listings, neighbourhood, lot characteristics, condition, renovation quality, property type, views, strata factors and other relevant features should be reviewed directly.