The Greater Victoria real estate market remained steady through August, with sales activity stronger than we’ve seen at this time of year in several years. Inventory is still sitting at healthy levels, which continues to give buyers options while keeping the overall market relatively balanced.
August at a Glance
591 properties sold across Greater Victoria
Sales were up 12.6% compared to August 2025
309 single-family homes sold, up 15.3% year-over-year
175 condos sold, up 15.1% year-over-year
3,662 active listings at the end of August
Single-family benchmark price: $1,301,800 in the Victoria Core
Condo benchmark price: $553,600 in the Victoria Core
What stands out to me is that prices are remaining relatively stable while buyers continue to have a good amount of choice. The benchmark price for a single-family home in the Victoria Core was down just 0.6% from last August, while condos were up 0.9%. So although we hear a lot about shifting prices, the bigger story locally is really about how selective buyers have become. Condition, location, layout, presentation and overall value are having a noticeable impact on how one property performs compared to another.
What this means for buyers
There is more breathing room in the market right now. Buyers can generally take more time to compare properties, review the numbers and make a thoughtful decision than they could during the highly competitive markets of a few years ago. There can also be more room to negotiate, particularly on homes that have been sitting or need work. That said, the best properties are still attracting strong interest, so buyers need to recognize when something is priced well and represents good value.
What this means for sellers
For sellers, pricing and presentation are especially important in this market. Buyers have enough inventory to compare one property directly against another, so homes that are positioned properly from the beginning are getting the strongest response. A home can still sell very well, but understanding the competition, preparing it carefully and setting the right price from day one can make a significant difference.
Overall, Greater Victoria continues to feel like a balanced market. Neither buyers nor sellers hold all the leverage, but good properties, realistic pricing and a clear strategy are being rewarded.
