Victoria Real Estate Market Shows Steady Momentum in August 2026

The Victoria real estate market continued to show steady momentum in August, with sales activity strengthening compared with the same time last year while inventory remained at relatively healthy levels.

According to the latest statistics from the Victoria Real Estate Board, 591 properties were sold across the Victoria Real Estate Board region in August 2026. That represents a 12.6% increase from the 525 properties sold in August 2025, although sales were 12.2% lower than July 2026.

The August results mark a strong month for sales activity, with the Victoria Real Estate Board noting that activity was stronger than what has typically been seen over the past five years.

“The August real estate market in Greater Victoria continued to demonstrate steady momentum,” said Victoria Real Estate Board Chair Fergus Kyne. “Sales activity for the month was stronger than we’ve seen in five years, while inventory remained at healthy levels.”

Stronger Sales Across Both Condos and Single-Family Homes

The increase in overall sales was evident across both major property types.

Condominium sales increased 15.1% year-over-year, with 175 units sold in August compared with the same month last year.

Single-family homes also saw strong activity, with 309 homes sold — an increase of 15.3% compared with August 2025.

The numbers suggest that buyers remain active in the Greater Victoria market, even as they continue to be selective about the properties they pursue.

Inventory Gives Buyers More Choice

There were 3,662 active listings on the Victoria Real Estate Board Multiple Listing Service® at the end of August.

That was a 4.8% decrease from July 2026, but still 1.7% higher than the 3,600 active listings recorded at the end of August 2025.

For buyers, this level of inventory provides more opportunities to compare properties and take the time to find the right fit. However, having more choice does not necessarily mean that every property is easy to negotiate on.

Well-priced and well-presented homes continue to stand out.

As Chair Kyne noted, buyers remain selective, making it particularly important for sellers to understand how their property compares with competing listings.

What Happened to Home Prices?

While sales activity was stronger, benchmark prices remained relatively stable, with modest year-over-year changes depending on the property type.

In the Victoria Core, the benchmark value for a single-family home was $1,301,800 in August 2026.

That was:

• Down 0.6% from $1,317,200 in August 2025
• Down 0.7% from July 2026, when the benchmark was $1,311,000

Condominiums, meanwhile, experienced a modest increase.

The Victoria Core condominium benchmark reached $553,600 in August 2026, compared with $548,900 in August 2025.

That represents a 0.9% year-over-year increase, while the benchmark was also up from July's $548,600.

Overall, these relatively modest price movements point toward a market that is stable rather than experiencing significant upward or downward pressure.

What This Means for Buyers

For buyers, August's numbers provide a relatively favourable combination: more choice than a year ago, active but not overwhelming competition, and relatively stable prices.

With 3,662 active listings available at the end of August, buyers have an opportunity to compare properties, conduct their due diligence and consider their options carefully.

However, buyers should not assume that every seller will be willing to make significant concessions.

The 12.6% increase in overall sales compared with August 2025 demonstrates that demand remains healthy. Properties that are well-priced, well-maintained and well-presented can still attract considerable interest.

In other words, patience can be an advantage for buyers, but being prepared to act when the right property comes along remains important.

What This Means for Sellers

For sellers, the current market highlights the importance of pricing and presentation.

Inventory is slightly higher than it was a year ago, giving buyers more alternatives. When buyers have multiple properties to choose from, an overpriced home can quickly become less competitive.

The relatively modest movement in benchmark prices also means that sellers should be realistic about current market value rather than relying solely on what similar properties may have sold for in previous years.

A strong marketing strategy, competitive pricing and professional presentation can help a property stand out in today's market.

A Balanced Market Heading Into Fall

Overall, the August 2026 statistics paint a picture of a stable and balanced Victoria real estate market.

Sales are stronger than they were a year ago, but prices have not experienced significant upward pressure. Buyers have more choice, while sellers continue to benefit from a healthy level of demand.

This is different from a highly competitive seller's market where buyers may feel pressured to make quick decisions or compete against multiple offers on most properties. At the same time, it is also not a market where sellers should expect to receive strong offers simply by putting a property on the market.

Instead, strategy matters.

For buyers, that means understanding the market, knowing your budget and being prepared to recognize a good opportunity.

For sellers, it means understanding your property's current market value, positioning it competitively and making sure it stands out against the other homes available.

As we move into the fall market, these factors will be worth watching closely to see whether sales activity, inventory and prices continue along their current path.

Thinking About Buying or Selling in Victoria?

If you're considering buying or selling a home in Victoria or anywhere on Vancouver Island, I'd be happy to help you understand what the current market means for your specific situation.

Whether you're looking to purchase your first home, move up, downsize, invest or sell your property, having a clear understanding of current market conditions can help you make more informed decisions.

Have questions about the Victoria real estate market? Let's connect.

Florencio Mende Jr.
REALTOR® | Victoria, BC