Verified real estate experts in Victoria

The Victoria real estate market — Jul 2026

Victoria is British Columbia's capital and the largest city on Vancouver Island, a government and university town with the mildest climate in Canada and a housing market priced accordingly. The MLS® HPI benchmark price of a single-family home in the Victoria Core was $1,311,000 in July 2026, down 2.8% year-over-year, according to the Victoria Real Estate Board. The condominium benchmark was $548,600, down 2.2%. Across Greater Victoria — a wider area than the Core — the single-family benchmark was $1,170,200, down 1.6%. Which of those three numbers applies depends entirely on where you are looking, and the gap between the Core and the wider region is about $141,000.

Inventory is what is driving the softening. There were 3,847 active listings at the end of July 2026, up 3.9% from a year earlier though down 5.1% from June, against 673 sales for the month — a 1% decline year-over-year. Within that total, single-family sales actually rose 4.1% to 331 while condominium sales fell 7.1% to 209. More choice on the shelf and steady rather than rising demand is the combination that pulls benchmarks down gently, which is what the -2.8% reflects.

For buyers this is a market that rewards patience, and the board's own chair has pointed to abundant inventory reshaping how both sides approach a transaction. For sellers it means pricing to the market rather than to last year's comparables. Payotte does not publish months of inventory or days on market for Victoria because the VREB does not report them in the form used here; rather than convert or estimate them, those fields are left blank.

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