The 2026 Greater Victoria real estate market entered the year in a noticeably more balanced position. Inventory is higher year-over-year, sales remain seasonally soft, and prices are largely stable, with variation by neighbourhood and property type.
Buyers have real choice again. Sellers who price realistically are still seeing solid outcomes.
January 2026 Snapshot (VREB)
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Sales: 339 properties sold region-wide
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19.7% fewer than January 2025
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7.6% fewer than December 2025, consistent with winter trends
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Active Listings: 2,624 at month-end
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Up 3.1% from December
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Up 9.6% year-over-year
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Market Balance: Sitting on the line between balanced and buyer-friendly, depending on the neighbourhood
Benchmark Prices at a Glance
Victoria Core
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Single-family: $1,265,500
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Down 2.5% year-over-year
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Slight uptick from December, signalling price stability
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Condos: $537,800
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Down 1.5% year-over-year
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The most stable segment in the market
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Westshore
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Single-family benchmarks are not broken out monthly
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Langford, Colwood, and View Royal posted modest gains through 2025
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Relative affordability and newer housing stock continue to support demand
Saanich (East & West)
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Generally stable pricing
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Family-oriented neighbourhoods like Gordon Head, Broadmead, and Royal Oak are holding value well
Data source: VREB MLS® Home Price Index, February 2026 release
What This Means So Far
The broader trend from 2025 into early 2026 is clear. Core Victoria single-family homes softened modestly over the past year. The Westshore posted small gains, supported by family demand and newer inventory. Saanich continues to act as the steady middle ground.
What Buyers Can Expect in 2026
More selection, especially early in the year
Inventory levels are the highest seen in several years. Expect more choice and slightly longer days on market across most areas.
Stable pricing with room to negotiate
Core Victoria single-family benchmarks are holding in the $1.25M to $1.3M range. The Westshore continues to offer the best value for buyers seeking detached homes.
Condos remain buyer-friendly
Condos are still the most accessible entry point for first-time buyers and downsizers, with stable pricing and ample selection.
Westshore continues to lead for growth and value
Langford, Colwood, View Royal, Westhills, and Royal Bay offer newer builds, family amenities, and long-term upside.
Saanich delivers lifestyle and schools
Neighbourhoods like Gordon Head, Cadboro Bay, Broadmead, and Royal Oak continue to command premiums. Inventory is tighter, so well-prepared homes still sell quickly when priced correctly.
Rates and external factors matter, but less dramatically
Mortgage rate stability or modest Bank of Canada cuts would support confidence. The market has returned to normal seasonal patterns rather than urgency-driven behaviour.
Bottom Line for 2026
The 2026 Greater Victoria real estate market is healthy and sustainable. Buyers have more choice than at any point since 2021, prices are not falling sharply, and demand remains steady in well-located neighbourhoods.
If you are planning to buy this year, the first half of 2026 offers one of the strongest windows we have seen in recent years, particularly in the Westshore and select areas of Saanich. If you would like to discuss your options or explore opportunities in your target neighbourhood, feel free to reach out anytime.
Noel A., 5-Star Review, via Google
“My partner and I had a great experience with Scott and the Fabers with our first home purchase. Scott answered all questions we had and helped guide us to make the right purchase that fit our lifestyle. Would highly recommend the Fabers!”
Faber Real Estate Group
Royal LePage Coast Capital Realty
📞 250-244-3430
📧scott@fabergroup.ca
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Vanessa Wood, Zachary Parsons, and Sophie Taylor
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