Victoria Real Estate Market Report for May 2026

A total of 713 properties sold in the Victoria Real Estate Board region this May, 5.9 per cent fewer than the 758 properties sold in May 2025 and 10.9 per cent more than sold in April 2026. Sales of condominiums decreased by 14.9 per cent from May 2025, with 188 units sold. Sales of single family homes decreased by 4 per cent from May 2025, with 385 sold.
 
“There’s no more waiting – the spring market is here,” said Victoria Real Estate Board Chair Fergus Kyne. “With the most inventory for sale that our market has had in eleven years, we’re seeing buyers take advantage of the many homes to choose from. Buyer expectations around pricing and features have changed with market conditions and they have more time to make decisions and are viewing more properties. To meet buyer demands, motivated sellers need to enter the market with competitive pricing and an understanding of their property’s value in the current environment.” 
 
There were 4,029 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2026, an increase of 8.6 per cent compared to the previous month of April and an 8.4 per cent increase from the 3,716 active listings for sale at the end of May 2025.
 
“The current market is unlike what we’ve seen in recent years,” notes Chair Kyne. “If you are considering selling or buying a property this spring, it’s important that you connect with your REALTOR® to understand the specific market conditions in your area and for your property type. Since our market is made up of many sub-markets, you’ll want to position your sale or purchase based on recent, relevant data and market insight that your Realtor can provide. With the help of your Realtor, both buyers and sellers can understand what it takes to be successful in the current market.” 
 
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in May 2025 was $1,335,500. The benchmark value for the same home in May 2026 increased by 0.3 per cent to $1,339,000, down from April’s value of $1,339,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in May 2025 was $562,100, while the benchmark value for the same condominium in May 2026 decreased by 1.9 per cent to $551,400, down from the April value of $558,300.

Review the May statistics package here.

The release and the full statistics package will be posted to the VREB website at www.vreb.org/current-statistics later this afternoon.