A total of 463 properties were sold in the Victoria Real Estate Board region this September, 16.4 per cent fewer than the 554 properties sold in September 2025 and 21.7 per cent fewer than August 2026. Sales of condominiums decreased by 11 per cent from September 2025, with 137 units sold. Sales of single family homes decreased by 17.3 per cent from September 2025, with 239 sold.

“September closed with inventory levels outpacing sales to a degree we haven’t seen in many years,” said Victoria Real Estate Board Chair Fergus Kyne. “The numbers indicate that the Victoria housing market has ventured into buyer’s market territory. Excluding the months from the start of the pandemic, this is the first time we’ve seen a buyer’s market since January 2015. However, one month does not make a trend, and it’s too early to say whether market conditions have shifted for the longer term. We’ll be watching the data closely over the coming months to see whether this is the beginning of a trend we haven’t experienced in more than a decade.”

There were 3,811 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2026, an increase of 4.1 per cent compared to the previous month of August and a 3.2 per cent increase from the 3,694 active listings for sale at the end of September 2025.

“There is a strong supply of inventory available in our market right now,” notes Chair Kyne. “But there is also a lack of certainty in many other aspects of our lives that may be contributing to lower sales activity. If you’re a qualified buyer and you’re looking for a new home, this might be a good time, because inventory generally decreases into the winter and your choices may not be as diverse as they are right now. For sellers, it’s important to have a conversation with your REALTOR® about the current market value of your specific property and how your expectations align with today’s market conditions in your market segment. September’s market looked very different from July and August, and conditions could shift again in October and the months ahead. That is why advice from a trusted local REALTOR® is so valuable when navigating a dynamic marketplace.”

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2025 was $1,306,500. The benchmark value for the same home in September 2026 decreased by 2 per cent to $1,280,100, down from August’s value of $1,301,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2025 was $542,200, while the benchmark value for the same condominium in September 2026 increased by 1 per cent to $547,800, down from the August value of $553,600.

About the Victoria Real Estate Board – Founded in 1921, the Victoria Real Estate Board is a key player in the development of standards and innovative programs to enhance the professionalism of REALTORS®. The Victoria Real Estate Board represents 1,612 local Realtors. If you are thinking about buying or selling a home, connect with your local Realtor for detailed information on the Victoria and area housing market.