The spring market is now in full swing across Greater Victoria, and while activity remains healthy, the story of 2026 continues to be one of inventory, choice, and strategy.

Unlike the highly competitive markets we experienced a few years ago, today's buyers have more options than they've had in over a decade. With inventory levels reaching their highest point in eleven years, buyers are taking more time to compare properties, conduct due diligence, and ensure they're making the right decision.

For sellers, this doesn't mean homes aren't selling, it simply means that pricing, presentation, and marketing matter more than ever. Well-priced homes continue to attract strong interest, while properties that miss the mark on price can sit longer as buyers weigh their many options.

📊 May 2026 Market Snapshot

• 713 properties sold in May

• ⬇️ 5.9% fewer sales than May 2025

• ⬆️ 10.9% more sales than April 2026

• 4,029 active listings

• ⬆️ 8.6% more inventory than April

• ⬆️ 8.4% more inventory than May 2025

The increase in both inventory and sales is typical for the spring market, but we're seeing a very different dynamic than in recent years. Buyers have more negotiating power and more homes to choose from, creating a balanced market where preparation and strategy are rewarded.

💰 Average Sale Prices – May 2026

🏡 Single-Family Homes: $1,323,272

🏘️ Townhomes: $869,061

🏢 Condominiums: $648,016

While inventory continues to climb, average sale prices have remained relatively stable, highlighting the resilience of the Greater Victoria market despite changing conditions.

🏠 Single-Family Homes

Single-family homes continue to be the strongest-performing segment of our market.

Sales were only slightly below last year's levels, decreasing by 4%, while inventory continues to provide buyers with more choice than we've seen in years.

What's particularly noteworthy is that pricing has remained relatively steady despite the growing number of homes available. This demonstrates that demand for detached homes remains healthy, even as buyers become more selective and take more time to make decisions.

💡 For sellers: Strategic pricing is essential. Homes that enter the market at the right price point continue to attract strong interest and achieve successful sales. 

🏢 Condominium Market

The condo market remains more challenging than other property types.

Sales were down nearly 15% compared to May of last year, and buyers have a wide selection of units available across Greater Victoria.

This increased inventory means buyers can be patient and compare multiple options before making a decision.

💡 For buyers: There are excellent opportunities to find value and negotiate favourable terms.

💡 For sellers: Proper pricing, professional presentation, and strong marketing are more important than ever to stand out from competing listings.  

🏘️ Townhome Market

Townhomes continue to occupy a desirable middle ground between affordability and space.

For many buyers, townhomes offer an attractive alternative to detached homes while providing more room and functionality than many condominiums.

With an average sale price of $869,061, this segment continues to appeal to growing families, move-up buyers, and downsizers alike.

💡 As inventory increases, buyers benefit from more choice, while sellers who price realistically continue to see positive results.  

⚖️ What This Means for Buyers and Sellers

For Buyers

✅ More inventory means more choice.

✅ Less pressure to make rushed decisions.

✅ Greater opportunity to negotiate on certain properties.

✅ More time to compare homes and identify the best value.

This is one of the most balanced buying environments we've experienced in several years.

For Sellers

✅ Buyers are still active.

✅ Well-priced homes continue to sell.

✅ Demand remains healthy across many neighbourhoods and price points.

However, today's market rewards preparation. With over 4,000 active listings available, buyers can afford to be selective. Sellers who understand current market conditions and position their homes competitively will have the greatest success.

🔮 Looking Ahead

As we move into June—the traditional peak of our spring market—it will be interesting to see whether sales activity continues to strengthen or whether summer vacations begin to slow buyer activity.

One thing remains clear: Greater Victoria continues to enjoy a healthy and balanced real estate market. Conditions vary by neighbourhood and property type, which makes local expertise more valuable than ever.

Whether you're considering a move now or later this year, understanding your specific market segment is key to making informed decisions.

📞 Thinking About Making a Move?

Whether you're buying, selling, or simply curious about your home's value in today's market, I'd be happy to help.

📞 250-893-9185
📧 KellyG@ComeSellWithMe.ca

Every neighbourhood, price range, and property type tells a different story. Let's build a strategy tailored specifically to your goals.

Kelly Grymaloski
REALTOR® | Serving Victoria, Langford, Colwood, View Royal, Saanich, Sidney, and surrounding communities

🔗 View the full market graphs and statistics below.

Full Details

We’ve now entered the busiest time of the real estate calendar, with May and June typically representing the peak of spring activity. While this year’s market hasn’t quite reached the pace we saw in 2025, it continues to offer a balanced and opportunity-rich environment for both buyers and sellers.

With more inventory available and steady buyer activity, success in today’s market comes down to strategy, timing, and pricing.

📊 April Snapshot – Victoria Real Estate Board Region

• 643 properties sold in April
• ⬆️ 0.2% increase over April 2025
• ⬆️ 11.1% increase from March
• 3,710 active listings
• ⬆️ 13.8% more inventory than March
• ⬆️ 8.3% more than last year

Overall, the market remains balanced — market: not too hot, not too cold, with solid opportunities on both sides.

💰 Average Sale Prices – April 2026

🏡 Single-Family Homes: $1,361,015
🏘️ Townhomes: $822,166
🏢 Condos: $644,220

Prices remain relatively stable, even as inventory grows — reinforcing the importance of proper pricing in today’s market.

🏠 A Closer Look at the Market

🏡 Single-Family Homes

Sales increased from March, following typical spring momentum, though still slightly below last year’s levels. Inventory and days on market are beginning to stabilize, which may temporarily tilt conditions slightly in favor of sellers.

💡 This spring window could be an opportunity for sellers to act before the summer slowdown.

🏢 Condos

The condo market saw a modest increase in sales in April, but activity remains significantly lower than last year. Inventory continues to rise, and homes are taking longer to sell — pointing to a pricing gap between buyers and sellers.

💡 Strategic pricing will be key to unlocking movement in this segment.

🏘️ Townhomes

Townhomes are seeing increased inventory, including new construction, and slightly softer sales compared to last year. As a smaller segment, results can fluctuate more, but demand remains steady for well-priced homes.

💡 With continued development of “missing middle” housing, buyers can expect more choice in this category moving forward.

⚖️ Risks & Opportunities

For Buyers:
✔️ Spring brings the highest inventory of the year
✔️ More motivated sellers entering the market
✔️ Stable interest rates allow for better planning
✔️ Opportunity to secure well-priced homes before competition increases

For Sellers:
✔️ Maximum exposure during peak spring months
✔️ Pricing correctly is critical in a competitive environment
✔️ The first 2–3 weeks on market are key
❗ Properties not receiving offers early may need quick price adjustments

📊 Data consistently shows that most successful sales happen within the first 21 days — after that, the likelihood of selling drops significantly.

🌷 Looking Ahead

April confirms we are in a healthy, balanced spring market, with strong inventory, steady demand, and a wide range of options for buyers at different price points.

However, timing matters. Buyer activity typically begins to taper off heading into mid-summer, making this current window one of the most important periods of the year for both buyers and sellers.

📞 Let’s Build Your Strategy

Whether you’re looking to take advantage of peak spring conditions, secure a well-priced home, or understand how your property fits into today’s market — having the right strategy makes all the difference.

📞 250-893-9185
📧 KellyG@ComeSellWithMe.ca

I’ll also include a link below to view full market stats and graphs for a deeper dive.

More Details

A Tale of Three Markets: What’s Hot & What’s Not

As we move further into the spring market, we’re starting to see a clearer picture of how 2026 is unfolding  and it’s not quite the strong surge many sellers were hoping for.

While activity has picked up from earlier in the year, the market remains more balanced and segmented, with each property type telling a slightly different story. Some areas are gaining momentum, while others continue to face challenges.

📊 March Snapshot – Victoria Real Estate Board Region

• 579 properties sold in March

• ⬇️ 5.5% fewer sales than March 2025

• ⬆️ 24.5% increase over February (spring momentum building)

• 3,261 active listings

• ⬆️ 12.3% more inventory than February

• ⬆️ 7.9% more than last year

This reflects a typical spring pattern, with both sales and listings increasing and activity expected to continue building toward May and June.

💰 Average Sale Prices – March 2026

🏡 Single-Family Homes: $1,341,863

🏘️ Townhomes: $837,192

🏢 Condos: $634,393

Prices overall remain relatively stable, even as sales volumes fluctuate, a key theme across all property types.

🏠 A Closer Look at the Market

🏡 Single-Family Homes

After a slower start to the year, this segment is showing clear signs of improvement.

Sales are still slightly below last year, but have rebounded significantly from the early months of 2026. Inventory is now more in line with 2025 levels, and days on market are beginning to shorten.

💡 There is a strong possibility we’ll see increased activity through April and into late spring.

🏢 Condos

The condo market continues to face the most pressure.

Sales remain well below last year and significantly under long-term averages. Despite this, prices have not dropped substantially, which may be contributing to slower sales activity.

💡 Buyers have more choice and negotiating power here, making this one of the most opportunity-rich segments.

⭐ Townhomes – Leading the Way

Townhomes continue to be the standout performer in today’s market.

Sales are up month-over-month, year-over-year, and above long-term averages.

Even with increasing inventory, demand remains strong, and well-priced townhomes are selling quickly, often very close to asking price.

💡 This remains one of the most competitive and reliable segments for sellers.

⚖️ Risks & Opportunities

This market presents a mix of both, depending on your position.

For Sellers:

✔️ Spring (April–June) is typically your strongest window

✔️ Strategic pricing is critical in today’s inventory-heavy environment

✔️ Well-priced homes stand out — especially against overpriced competition

✔️ In-demand segments (like townhomes) continue to perform very well

For Buyers:

✔️ More inventory = more choice and less pressure

✔️ Strong negotiation opportunities in certain segments (especially condos)

✔️ Best-value properties still move quickly and preparation is key

📈 What to Watch

Interest rates continue to be a major factor. There is increasing discussion around potential rate changes through 2026, which could impact affordability and buyer confidence.

Because of this, many buyers are choosing to act now, securing a property and locking in financing before further changes occur.

🌷 Final Thoughts

The 2026 market is shaping up to be more strategic than reactive. Gone are the days of one-size-fits-all conditions, success now depends heavily on property type, pricing, and timing.

With Greater Victoria made up of many unique micro-markets, having a tailored approach is more important than ever.

If you’re thinking about buying, selling, or simply want to understand how this applies to your specific situation, I’m always happy to help.

Kelly J Grymaloski

📞 250-893-9185

📧 KellyG@ComeSellWithMe.ca

I’ll also include a link below to view full market stats and graphs for a deeper dive. 

🔗 Victoria Real Estate Market Update: See the Latest Trends and Stats!