More Choice, More Time — But Good Homes Are Still Selling
As we move through the heart of summer, the Greater Victoria real estate market is following a fairly typical seasonal pattern. Sales eased slightly from June, inventory began to decline, and buyers continue to benefit from considerably more choice than we've seen in recent years.
But don't mistake a slower pace for an inactive market.
July actually finished above the five-year average for July sales, and single-family home sales increased compared with last year. Buyers are still out there—they're simply taking more time, comparing more properties, and being increasingly selective about where they see value.
For sellers, that makes pricing, presentation, and marketing more important than ever.
📊 July by the Numbers
🏠 673 Properties Sold
📈 3,847 Active Listings
💰 Average Sale Prices
🏡 Single-Family Homes: $1,302,603
🏘️ Townhomes: $872,098
🏢 Condominiums: $610,731
📈 July Market Snapshot
July saw 673 properties change hands across the Victoria Real Estate Board region.
That's:
• ⬇️ 1% fewer sales than July 2025
• ⬇️ 6.4% fewer sales than June 2026
• 🏡 331 single-family homes sold, up 4.1% year-over-year
• 🏢 209 condos sold, down 7.1% year-over-year
There were 3,847 active listings at the end of July—down 5.1% from June, but still 3.9% higher than July of last year.
The important takeaway is that while buyers still have plenty of choice, inventory has started to come down from its spring peak.
🏠 A Closer Look at the Market
🏡 Single-Family Homes
Single-family homes were one of the encouraging stories in July.
While overall market sales declined slightly from last year, single-family sales actually increased 4.1%, with 331 homes changing hands.
The average sale price for July was $1,302,603.
Buyers have more homes to compare than they did during the low-inventory years, so they're paying close attention to condition, location, and value. However, strong homes that are priced appropriately continue to attract serious interest.
💡 The takeaway: Demand for detached homes remains healthy. Sellers shouldn't assume they need to dramatically discount their property, but pricing realistically from the beginning is essential.
🏢 Condominiums
The condo market continues to offer some of the most interesting opportunities for buyers.
There were 209 condo sales in July, down 7.1% compared with July 2025, while the average sale price came in at $610,731.
With more properties available to compare, condo buyers can afford to be selective. Strata fees, building condition, depreciation reports, upcoming expenses, location, and overall value are all playing an increasingly important role in purchasing decisions.
For sellers, this means buyers need a compelling reason to choose your condo over the alternatives.
💡 The takeaway: Presentation and competitive pricing are critical. Buyers are active, but they aren't feeling pressured to overpay.
🏘️ Townhomes
Townhomes continue to provide an attractive middle ground for buyers looking for more space without making the jump to detached-home pricing.
The average July sale price was $872,098.
This segment continues to appeal to a broad range of buyers—from families and move-up purchasers to downsizers who want more space and privacy than a typical condominium can provide.
As with every segment of today's market, however, buyers have choices. Even desirable townhomes need to be positioned correctly to stand out.
💡 The takeaway: Townhomes remain an important and desirable part of our market, particularly for buyers balancing affordability, space, and lifestyle.
⚖️ What This Means for Buyers & Sellers
✅ For Sellers
If you've been wondering, "Where are all the buyers?", July's numbers provide some perspective.
They're still here.
673 properties sold during the month, and July finished above the five-year average for sales. What's changed is how buyers are shopping.
Today's buyers can compare multiple properties before making a decision. They're paying closer attention to value, condition, maintenance, and presentation.
That means sellers should focus on:
✔️ Pricing correctly from the beginning
✔️ Making sure maintenance items are addressed
✔️ Presenting the home exceptionally well
✔️ Using professional marketing to stand out
✔️ Responding quickly to showing activity and buyer feedback
Sometimes relatively small improvements can make a significant difference when buyers are choosing between several comparable homes.
✅ For Buyers
More inventory can be both an advantage and a challenge.
Having more homes to choose from gives buyers time, negotiating power, and the ability to be selective. But too much choice can also make it difficult to determine which property actually represents the best opportunity.
The goal isn't necessarily to find the cheapest home.
It's to identify the property that provides the right combination of location, condition, lifestyle, future potential, and price.
✔️ Take advantage of the increased selection
✔️ Complete your due diligence
✔️ Compare properties carefully
✔️ Negotiate where the opportunity exists
✔️ Be prepared to act when an exceptional property appears
Good properties can still attract competition—even in a market with plenty of inventory.
🔮 Looking Ahead
July's numbers suggest we're experiencing a healthy summer market rather than a dramatic slowdown.
Sales remain solid, but inventory has begun declining from the levels we saw earlier in the year. That's something I'll be watching closely as we head toward the fall market.
If inventory continues to decline while buyer activity remains steady, the balance between buyers and sellers could begin shifting again.
Greater Victoria is also made up of many individual micro-markets. Conditions for a condo in downtown Victoria can look very different from a detached home in Saanich, a townhouse in Langford, or a property in Sidney.
That's why the headline numbers are useful—but understanding what's happening in your particular neighbourhood and property type is what really matters.
📞 Thinking About Your Next Move?
Whether you're thinking about buying, selling, or simply wondering what your home may be worth in today's market, I'm always happy to have a conversation.
No pressure—just current market information and a strategy based on your property and your goals.
📞 250-893-9185
And as always, thank you for reading and sharing my monthly market updates. Referrals from past clients, friends, and family are an important part of my business, and I truly appreciate your continued support.
Enjoy the rest of your summer! ☀️🏡
Kelly Grymaloski
REALTOR® | Coldwell Banker Oceanside
Serving Victoria, Saanich, Langford, Colwood, View Royal, Sid
