D'ARCY HARRIS
Sotheby's International Realty Canada
D'ARCY HARRIS
Sotheby's International Realty Canada
Quarterly Market Intelligence
Comprehensive data and expert analysis on pricing trends, inventory, and neighbourhood performance across Greater Victoria. Know the market before you make your next move.
After a relatively flat 2025, the Greater Victoria real estate market is showing renewed momentum heading into spring 2026. Rate cuts from the Bank of Canada are fueling buyer demand, inventory is tightening, and prices are climbing across every property type.
Whether you're buying, selling, or investing, the decisions you make in Q2 depend on understanding what happened in Q1. This report gives you the data, straight from the Victoria Real Estate Board: packaged with local context only an active Sotheby's agent can provide.
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Key Findings
Here's a preview of what's shaping Victoria's real estate landscape right now. The full report dives deeper with charts, historical context, and neighbourhood-level data.
Pricing Data
Median sale prices across Greater Victoria's four major property categories. The full report includes average prices, benchmark prices, and price-per-square-foot analysis.
| Property Type | Q1 2026 Median | Q4 2025 | YoY Change |
|---|---|---|---|
| Detached Home | $1,125,000 | $1,089,000 | +5.1% |
| Townhome | $785,000 | $762,000 | +3.8% |
| Condo | $545,000 | $528,000 | +2.9% |
| Luxury ($2M+) | $2,850,000 | $2,620,000 | +8.7% |
Local Intelligence
A quick-hit look at six key Greater Victoria neighbourhoods. The full report covers 12 areas with detailed pricing, inventory, and days-on-market breakdowns.
The Victoria Real Estate Board (VREB) publishes monthly market statistics reports at vreb.org including benchmark prices, sales volumes, and inventory levels for all property types across Greater Victoria municipalities. CMHC also publishes quarterly Housing Market Outlooks covering Victoria's rental and ownership sectors.
The benchmark price (or MLS Home Price Index) represents the price of a "typical" home in a given area and property type, adjusted for differences in size, age, and features. It is more stable than average or median price, which can be skewed by a single high-value sale. The MLS HPI is widely used by economists and media as the most reliable measure of home price trends.
Victoria's benchmark prices are significantly lower than Metro Vancouver's across all property types, while offering similar quality of life, mild climate, and coastal lifestyle. Victoria's market tends to be slightly less volatile — it doesn't swing as dramatically in boom or correction cycles — making it attractive to both local buyers and investors seeking stability.
Yes. BC's Home Buyer Rescission Period gives buyers 3 business days after acceptance to rescind, for any reason, with a 0.25% fee. This applies to most residential purchases in Victoria and cannot be waived by either party.
Victoria's long-term price growth is driven by constrained land supply (ocean and agricultural land on three sides), net migration from higher-cost metros, a large public sector employment base, a growing technology sector, and desirability for retirement. Statistics Canada census data consistently shows Victoria as one of Canada's fastest-growing CMAs by population.
Inside the Report
This isn't a generic market snapshot. It's a 20+ page deep-dive into Victoria's real estate market, written by a local Sotheby's agent who works this market every day.
Is This For You?
All information on this page is based on publicly available data from authoritative sources. Market conditions change; consult a licensed REALTOR® for current information.