Every spring, we hear the same thing:
“The market is heating up”
“It’s the best time to sell”
“Expect bidding wars”.
But what is actually happening in Victoria right now? Here is a clear look at the February 2026 numbers, and what they really mean for sellers and buyers.
Where the Victoria Market Stands
A total of 465 properties sold in February 2026 across the Victoria Real Estate Board region. That represents:
⬇ 11.9% fewer sales than February 2025
⬆ 37.2% more sales than January 2026
This month-over-month increase signals renewed seasonal momentum, even as year-over-year sales remain more moderate.
Breaking it down by property type:
⬇ 206 single-family homes sold (down 12% from February 2025)
⬇ 154 condominiums sold (down 19.8% from February 2025)
Inventory continues to expand:
2,903 active listings at the end of February
⬆ Up 10.6% from January
⬆ Up 10.4% from February 2025
These figures suggest that Victoria is operating in a balanced market, with healthy inventory levels and improving activity as we approach the traditional spring season – creating opportunity for both buyers and sellers.
Pricing Trends in Victoria Core: Stability with Subtle Adjustments
Single-Family Homes:
February Benchmark Price: $1,307,400
⬇ Down 0.9% year-over-year
⬆ Up 3.3% from January 2026
Condominiums:
February Benchmark Price: $545,600
⬇ Down 0.7% year-over-year
⬆ Up 1.4% from January 2026
Townhouses:
February Benchmark Price: $842,800
⬆ Up 0.4% year-over-year
⬆ Up 1.1% from January 2026
Key takeaway: Prices are not surging but they are stable, with modest month-over-month recovery as activity picks up. This is not a correction-driven market. It’s a normalization.
Neighbourhood notes: Oak Bay and Saanich East are seeing the greatest price gains for single-family homes and condominiums in recent months, compared to other neighbourhoods. The Victoria municipality (specifically Downtown) condominium prices have seen the biggest drop in prices in the last 3 years – Downtown condo prices are down 12.7% in last 12 months and down 16.1% compared to 3 years ago.
MYTHS vs REALITY for SELLERS
MYTH #1 – “Spring is the best time to sell”
REALITY:
Spring increases activity, but not guarantees.
While February showed a 37% jump in sales from January, year-over-year sales remain lower. This means sellers benefit from increased seasonal traffic, but must still compete in a market with nearly 2,900 active listings. Preparation and pricing matter more than timing alone.
MYTH #2 – “Homes sell more quickly in spring”
REALITY:
The market is balanced, not frantic.
With inventory up over 10% year-over-year, buyers have options. Homes that are well-prepared and priced correctly move. Those that overshoot market expectations can linger.
Buyers are active — but they are deliberate.
MYTH #3 – “You can price high and negotiate later”
REALITY:
In a balanced market, overpricing costs momentum.
With steady benchmark values and increased inventory, pricing needs to reflect today’s conditions, not last year’s peak or optimistic assumptions.
The first price sets the tone. Accurate pricing drives engagement.
MYTH #4 – “Market value equals assessed value”
REALITY:
Assessed value is a reference point — not a pricing strategy.
BC Assessment values are calculated using historical data and standardized formulas. Market value is determined by what buyers are willing to pay in current conditions.
With benchmark prices showing slight year-over-year decreases but month-over-month stabilization, today’s value is shaped by:
• Comparable recent sales
• Current inventory levels
• Buyer sentiment
• Interest rate environment
• Property-specific condition and location
In other words — context matters.
What This Means for Sellers
• Seasonal momentum is building
• Inventory levels require competitive positioning
• Benchmark values are steady, not accelerating
Success this spring will belong to sellers who price accurately, prepare thoroughly, and market strategically.
What This Means for Buyers
• More listings mean more choice
• Sales activity is improving, but competition remains measured
• Negotiating power still exists in many segments
This is a market that rewards thoughtful decision-making.
Victoria’s market is no longer defined by urgency. It’s defined by balance.
With:
• Sales improving month-over-month
• Inventory levels supporting buyer confidence
• Benchmark prices holding steady with modest adjustment
Spring 2026 is shaping up to be a season of opportunity, not frenzy.
And in a balanced market, expertise matters more than ever.
If you’re considering a move this spring, whether selling or buying, now is an excellent time to plan intentionally. Connect with us for a tailored market analysis specific to your neighbourhood and property type – because local insight always outperforms seasonal assumptions.
Clover Residential | Victoria, BC | Every move, made intentional.
