The Greater Victoria housing market showed renewed balance in October after September briefly signaled a shift toward buyer-favorable conditions. While sales remained lower than the same month last year, activity increased significantly compared to September, highlighting that market conditions continue to evolve as buyers and sellers adjust to current inventory levels and economic conditions.
A total of 573 properties sold across the Victoria Real Estate Board region in October 2026. This represents a 7.1% decrease compared to October 2025, but a notable 23.8% increase from September 2026, suggesting that market activity rebounded as more buyers took advantage of increased selection and stable pricing.
October 2026 Market Snapshot
Total Properties Sold: 573
Active Listings: 3,594
New Listings: 1,138
Single Family Home Sales: 303
Condominium Sales: 135
Townhome Sales: 90
Victoria Core Benchmark Single Family Home Price: $1,288,600
Victoria Core Benchmark Condo Price: $533,900
October sales were very close to the region's five-year average of 581 sales, while new listings slightly exceeded the historical average. Inventory remains healthy despite declining from its June peak, giving buyers significantly more options than they had throughout much of the last several years.
Market Conditions Shift Back to Balanced Territory
According to Fergus Kyne, Chair of the Victoria Real Estate Board, October serves as a reminder that a single month's data does not establish a long-term trend. While September's numbers pushed the market into buyer's market territory, October returned to balanced conditions.
The market continues to benefit from an increased supply of available homes, but demand remains steady enough to support pricing in many segments. This balance creates opportunities for both buyers and sellers when expectations are aligned with current market realities.
What This Means for Buyers
For buyers, October continued to provide advantages that were difficult to find during the highly competitive markets of previous years.
With 3,594 active listings available, purchasers have:
More inventory to choose from
Additional time to complete due diligence
Greater ability to compare properties
Improved negotiating opportunities in some segments
Less pressure to make rushed decisions
However, desirable properties that are well-priced and located in sought-after neighbourhoods continue to attract strong interest and can still sell quickly. Working with a local REALTOR® remains critical when evaluating individual market segments and neighbourhood dynamics.
What This Means for Sellers
Sellers should view the October market as healthy and active, but more balanced than the seller-driven conditions experienced in recent years.
Success continues to depend on:
Strategic pricing
Strong marketing exposure
Professional presentation
Understanding local neighbourhood trends
The increase in inventory means buyers have more alternatives available, making proper pricing and preparation more important than ever. Homes that are priced appropriately and show well continue to attract interest and achieve successful sales.
Home Prices Remain Stable
One of the most encouraging signs for homeowners is the continued stability in benchmark pricing.
Single Family Homes
The benchmark value for a single-family home in the Victoria Core increased from $1,280,100 in October 2025 to $1,288,600 in October 2026, representing a 0.7% year-over-year increase. Benchmark values also increased compared to September.
Condominiums
The benchmark value for a condominium in the Victoria Core was $533,900 in October 2026, a 2.8% decrease compared to October 2025 and down from September's benchmark of $547,800. While condos have experienced some softening, increased inventory continues to provide opportunities for first-time buyers and investors entering the market.
Townhomes Continue to Perform
Townhome sales increased significantly, with 90 sales recorded in October, representing a 20% increase compared to October 2025. This continued demand reflects the growing popularity of townhomes as buyers seek a balance between affordability and space.
Looking Ahead
As we move into the final months of 2026, the Greater Victoria market appears poised to remain balanced. Inventory levels are healthy, buyer choice remains strong, and overall sales activity continues to track close to historical norms.
While some neighbourhoods and property types may favour buyers more heavily than others, the broader regional market remains relatively stable. Buyers benefit from increased selection and negotiating power, while sellers continue to see demand for well-priced and well-presented homes.
Thinking About Buying or Selling in Greater Victoria?
Whether you're considering your first home, upgrading, downsizing, or investing, understanding current market conditions is essential. Every neighbourhood and property type behaves differently, and local expertise can help you make informed decisions.
Contact the Kamaretsos Real Estate Team for a personalized market evaluation, neighbourhood insights, and expert guidance tailored to your real estate goals.
Disclaimer: Informational purposes only based on VREB data. Consult a licensed Realtor® for personal advice.
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