This is the first edition of our monthly Greater Victoria market snapshot, built from the August 2026 numbers released by the Victoria Real Estate Board. In short: 591 properties sold across the region, active listings held near 3,662, and the sales-to-active-listings ratio sat around 21 per cent, squarely inside the range that marks a balanced market. We will refresh this page every month as each new report lands, so you always have a straight, current read on where the local market actually sits.
The Headline Numbers for August 2026
Properties Sold
591
Up 12.6 per cent from August 2025, when 525 properties sold, and 12.2 per cent fewer than July 2026.
Active Listings
3,662
At the end of August: down 4.8 per cent from July 2026 and up 1.7 per cent from the 3,600 active listings recorded a year earlier.
Sales-to-Listings Ratio
21%
The ratio of sales to active listings sits within the 17 to 28 per cent range that marks a balanced market.
The VREB region covers Greater Victoria, from the Saanich Peninsula through Victoria, Saanich, Oak Bay, Esquimalt, and the West Shore communities.
Sales and Benchmarks by Property Type
The August pace was consistent across the region, with single-family homes and condominiums both selling noticeably better than a year ago. Townhomes were the one softer category.
| Property Type | Sales, August 2026 | Year over Year | Benchmark Price |
|---|---|---|---|
| Single-family homes | 309 | Up 15.3% | $1,301,800 (Victoria core) |
| Condominiums | 175 | Up 15.1% | $553,600 (Victoria core) |
| Townhomes | 63 | Down 4.5% | n/a |
| All residential (MLS HPI composite) | n/a | n/a | $856,300 (Greater Victoria) |
Benchmark prices for single-family homes and condominiums are the MLS Home Price Index figures for the Victoria core. The composite benchmark of $856,300 covers all residential property across Greater Victoria. A Victoria core single-family home benchmarked at $1,317,000 in August 2025, so the current $1,301,800 is down 0.6 per cent year over year. Source: Victoria Real Estate Board.
The August real estate market in Greater Victoria continued to demonstrate steady momentum. Sales activity for the month was stronger than we've seen in five years, while inventory remained at healthy levels.
What a Balanced Market Means for You
A ratio of around 21 per cent puts Greater Victoria in the middle of the balanced band, and that changes the playbook for both sides. In plain language: neither buyers nor sellers hold all the cards, so the work shifts to preparation and patience.
For buyers
- More choice. With over 3,600 active listings, you can compare more neighbourhoods and properties before committing.
- Time to be careful. Inspections, second showings, and considered offers are realistic in this market.
- Roughly flat prices. Benchmarks moved under a percentage point year over year, so the pressure to rush is lower.
- Stay ready anyway. The best-priced homes in the strongest neighbourhoods still move quickly. Here's a look at how long homes actually take to sell here.
For sellers
- Well-priced homes are selling. Sales ran 12.6 per cent ahead of last August, so demand is real.
- Buyers have options now. An overpriced or awkward-to-show home sits while comparable listings get the showings.
- Presentation matters. Tidy yards, fresh paint, honest disclosure, and good photos give buyers a reason to choose your place.
- Price it right from day one. Reductions add days on market and hand buyers the leverage. Our day-one pricing guide explains why this matters more than ever.
Frequently Asked Questions
The questions buyers and sellers ask us most, answered with the August 2026 numbers where the data supports it and honestly where it doesn't.
Is Victoria a buyer's or seller's market right now?
Balanced, leaning neither way. The sales-to-active-listings ratio sat around 21 per cent in August 2026, inside the 17 to 28 per cent band that marks a balanced market, so neither buyers nor sellers hold all the cards.
What is the average home price in Victoria?
The August 2026 composite benchmark across all residential property in Greater Victoria was $856,300. By property type, a single-family home in the Victoria core benchmarked at $1,301,800 and a condominium at $553,600.
Is the Victoria market cooling?
Not really. Sales were up 12.6 per cent from August 2025, and the Victoria Real Estate Board called the month its strongest August in five years. Prices have been roughly flat, so it's steady momentum rather than a hot or cooling market.
What does a balanced market mean?
A balanced market means sales and listings are in rough equilibrium, often measured by a sales-to-active-listings ratio between about 17 and 28 per cent. In practical terms, buyers have choice and time, sellers still see steady demand, and negotiation matters more than speed.
Are homes selling quickly in Victoria?
It depends on price and presentation. Sales ran well ahead of last August, but with roughly 3,662 active listings at month end, well-priced homes in strong neighbourhoods moved while overpriced or awkward-to-show ones sat longer.
How does Victoria compare to Vancouver?
Victoria remains noticeably more affordable than Vancouver for comparable homes. The trade-off is island access, with a ferry or flight between the two, and our cost of living guide digs deeper into the comparison.
Are benchmark prices rising or falling in Victoria?
Mixed, depending on the property type. The Victoria core single-family benchmark of $1,301,800 in August 2026 was down 0.6 per cent from a year earlier, while sales activity across the region ran well ahead of last August.
Where These Numbers Come From
All figures on this page come from the Victoria Real Estate Board's monthly MLS statistics report for August 2026, released on September 1, 2026. Benchmark prices are the MLS Home Price Index numbers published by the board. The Happy Homes Team updates this page monthly with fresh numbers as each report is released; the edition month is always stated in the title.
Planning a move soon? The team reads these reports closely every month and watches listings move on the ground. A conversation is free, honest, and pressure-free.
Meet the Team Behind the Numbers
We're Anna Hakim and Perry Fanthorpe of the Happy Homes Team at eXp Realty, the AI Certified Agents who put this page together every month. Numbers are useful. The life you build on top of them is the part we care about most.
Anna Hakim
Realtor, AI Certified Agent
Anna's years in massage therapy and emotional trauma healing taught her to read what people need before they say it. Warm, patient, and intuitive, she helps clients find the neighbourhood and the home that genuinely fit.
Perry Fanthorpe
Realtor, AI Certified Agent
Born and raised in Victoria, Perry makes sure things actually happen. Construction insight, mortgage-helper strategy, and the follow-through to keep every detail on track from first showing to closing day.
Homes with soul. Strategy with heart.
We combine high-level strategy, cutting-edge technology, and real human connection: a premium boutique experience without the pretense. A conversation is free, honest, and pressure-free. More about Anna and Perry here.
What Do These Numbers Mean for Your Home?
Whether you're buying, selling, or just curious where your home sits in this market, we'd love to talk it through. No scripts, no pressure, just local knowledge from a team that lives here.
Or start with a free home valuation estimate.
