Stronger Summer Sales Set the Stage for Fall
As summer begins to wind down, Greater Victoria's real estate market is showing encouraging signs of strength. August sales were noticeably higher than a year ago, even as activity eased from July in keeping with the usual seasonal pattern.
What makes this market interesting is the combination of stronger sales, healthy inventory, and relatively stable pricing. Buyers continue to have time to compare properties and make informed decisions, while sellers are seeing that well-priced, well-presented homes can still attract serious interest.
The market isn't returning to the intense conditions of the pandemic years, but that doesn't mean opportunity is lacking. Instead, we're seeing a more balanced environment where the right strategy matters on both sides of the transaction.
📊 August by the Numbers
🏠 591 Properties Sold
📈 3,662 Active Listings
💰 Average Sale Prices
🏡 Single-Family Homes: $1,312,501
🏘️ Townhomes: $843,966
🏢 Condominiums: $625,363
Average sale prices reflect the mix of properties sold during the month and can vary significantly by neighbourhood, property type, and price range.
📈 August Market Snapshot
According to the Victoria Real Estate Board, 591 properties sold in August, representing:
• ⬆️ 12.6% more sales than August 2025
• ⬇️ 12.2% fewer sales than July 2026
• 🏡 309 single-family homes sold, up 15.3% year-over-year
• 🏢 175 condos sold, up 15.1% year-over-year
There were 3,662 active listings at the end of August, down 4.8% from July, but still 1.7% higher than August of last year.
August also recorded the strongest sales activity for the month in five years. This is an encouraging sign that buyers remain active, even though they have more choice and are taking a more selective approach than in previous years.
🏠 A Closer Look at the Market
🏡 Single-Family Homes
Single-family homes continue to be one of the strongest segments of the Greater Victoria market.
With 309 sales in August, activity increased 15.3% compared with the same month last year. The average sale price was $1,312,501.
While buyers have more options than they did during the low-inventory years, demand for well-located, well-maintained detached homes remains healthy. Buyers are taking the time to compare properties, but they are still prepared to act when a home offers the right combination of features and value.
💡 The takeaway: Sellers should feel encouraged by the stronger sales activity, while recognizing that realistic pricing and excellent presentation remain essential to attracting today's buyers.
🏢 Condominiums
The condo market delivered some welcome improvement in August.
There were 175 condo sales, an increase of 15.1% compared with August 2025. The average sale price came in at $625,363.
This is encouraging after several months of softer activity, although the condo market continues to offer buyers a good selection of properties. Buyers are paying close attention to strata fees, building maintenance, depreciation reports, upcoming expenses, and overall value.
For sellers, the improvement in sales is positive, but it doesn't eliminate the need to compete effectively with other listings.
💡 The takeaway: Buyers continue to have opportunities to negotiate and compare properties, while sellers who price realistically and present their condos well are better positioned to attract serious interest.
🏘️ Townhomes
Townhomes remain an important middle ground between detached homes and condominiums, appealing to buyers who want more space and functionality without moving into the detached-home price range.
The average sale price for August was $843,966.
This segment continues to attract families, move-up buyers, and downsizers. However, increased townhouse inventory means buyers have more options, particularly where new construction is adding to the available supply.
As a smaller market segment, townhouse statistics can also fluctuate more noticeably from month to month depending on the number and type of properties sold.
💡 The takeaway: Townhomes continue to offer an attractive lifestyle and value proposition, but sellers need to understand their competition and price accordingly.
⚖️ What This Means for Buyers & Sellers
✅ For Sellers
August's stronger year-over-year sales are a reminder that buyers are still very much in the market.
The difference is that today's buyers have more choice and are less likely to overlook issues with price, condition, or presentation. A home that is positioned correctly can stand out, while an overpriced listing may struggle to generate the attention it deserves.
The first few weeks on the market remain particularly important. Strong photography, professional marketing, up-to-date maintenance, and a competitive asking price can all help create a positive first impression.
Today's successful sellers focus on:
✔️ Pricing based on current comparable sales
✔️ Preparing the home to show at its best
✔️ Marketing beyond simply placing the property on MLS®
✔️ Reviewing showing activity and buyer feedback
✔️ Adjusting their strategy when the market provides clear feedback
The goal isn't simply to list your home—it's to position it so buyers see its value.
✅ For Buyers
For buyers, the current market offers a combination of choice, time, and opportunity.
There are still plenty of homes to consider, particularly in the condo and townhouse segments. This allows buyers to compare properties carefully, complete their due diligence, and negotiate where appropriate.
However, waiting indefinitely for the perfect market can carry its own risks. If sales continue to improve and inventory gradually declines, some of today's negotiating advantage could begin to narrow.
The best approach is to focus on finding a home that works for your needs and budget, rather than trying to predict the exact bottom of the market.
✔️ Take advantage of the available selection
✔️ Compare properties and recent sales carefully
✔️ Understand the full cost of ownership
✔️ Complete inspections and due diligence
✔️ Be ready to act when the right opportunity appears
💰 Interest Rates & Planning Ahead
Interest rates and broader economic conditions remain important factors for both buyers and homeowners.
Trade uncertainty, inflation, and changes in borrowing costs can all influence affordability and consumer confidence. While future rate changes are difficult to predict, it's wise to make financial decisions based on what works with today's numbers, rather than relying on the hope that rates will be lower in the future.
For homeowners with a mortgage renewal approaching, this may be a good time to review your budget, consider your options with a qualified mortgage professional, and ensure you have some flexibility if borrowing costs change.
For buyers, understanding your financing options and monthly carrying costs before beginning your search can help you make a confident decision when the right property comes along.
🔮 Looking Ahead to Fall
August's results provide a positive foundation as we head into the fall market.
Sales were stronger than last year, inventory declined during the month, and buyers continue to demonstrate that they are willing to purchase when they find the right home at the right price.
Whether this momentum continues into September and October will depend on factors such as inventory, interest rates, consumer confidence, and the number of new listings entering the market.
As always, Greater Victoria is made up of many individual micro-markets. A detached home in Saanich, a condo in downtown Victoria, and a townhouse in Langford can each experience very different levels of demand.
That's why understanding the market for your specific property type, neighbourhood, and price range is far more useful than relying on regional averages alone.
📞 Thinking About Your Next Move?
Whether you're considering buying, selling, or simply wondering what your home may be worth in today's market, I'd be happy to help you understand your options.
Every property and every situation is unique. Together, we can build a strategy based on current market conditions and your personal goals—without any pressure.
📞 250-893-9185
Thank you for taking the time to read my monthly market updates. I truly appreciate your continued support, and if you know someone who may be thinking about buying or selling, I'd be honoured if you shared my information with them.
Wishing you a wonderful start to the fall season! 🍂🏡
Kelly Grymaloski
REALTOR® | Coldwell Banker Oceanside
Serving Victoria, Saanich, Langford, Colwood, View Royal, Sidney, Central Saanich and surrounding communities.
