Victoria Real Estate Market Report – July 2026

A Market Defined by Choice, Stability & Opportunity

Summer is typically a quieter season for real estate in Victoria, but July proved the market remains remarkably resilient. While sales eased slightly from June, activity stayed above the five-year average, giving both buyers and sellers confidence in a balanced and healthy market.

At Pivot Homes Group, we believe informed decisions start with reliable data—not headlines. Here's what happened in July and what it means if you're planning to buy or sell in Greater Victoria.

July 2026 Market Snapshot

The Victoria Real Estate Board recorded 673 property sales in July 2026, down only 1% from July 2025 and 6.4% from June.

More importantly, the market continues to benefit from healthy inventory, with 3,847 active listings available at month-end—up 3.9% year over year.

This means buyers have significantly more choice than they did a year ago, while sellers continue to benefit from steady demand when homes are priced appropriately.

As VREB Chair Fergus Kyne noted, July sales remained above the five-year average, highlighting the continued strength of the Victoria market despite seasonal slowdowns.

A Balanced Market Creates Opportunities

One of the best indicators of market conditions is the Sales-to-Active Listings Ratio.

Victoria's residential ratio currently sits at approximately 16.6%, placing the market right on the border between a balanced market and a buyer's market.

What does this mean?

For Buyers

• More homes to choose from

• Less pressure to compete in multiple offers

• Greater negotiating power

• More time for inspections and financing

For Sellers

• Well-priced homes continue to sell

• Buyers are still active

• Preparation and pricing matter more than ever

This is exactly the type of market where strategy makes the biggest difference.

Home Prices Remain Stable

Rather than relying on average prices, Pivot Homes Group follows the MLS® Home Price Index (HPI), which provides a more accurate picture of market values.

Single-Family Homes

• 331 homes sold (+4.1% year over year)

• Benchmark Price: $1,311,000

• Down 2.8% from July 2025

Condominiums

• 209 sales

• Benchmark Price: $548,600

• Down 2.2% year over year

Townhomes

• 82 sales

• Benchmark Price: $857,300

• Prices remained relatively stable despite fewer transactions.

Overall, pricing continues to show stability rather than dramatic movement, reinforcing the balanced nature of today's market.

Buyers Have More Time

One of the biggest changes this year is the pace of the market.

Average days on market have increased across all property types:

• Single-family homes: 44 days

• Condos: 48 days

• Townhomes: 56 days

For buyers, this is welcome news.

Instead of making rushed decisions, buyers now have time to:

• Schedule inspections

• Review strata documents

• Compare multiple properties

• Secure financing confidently

Thoughtful decisions generally lead to better long-term investments.

Pivot Homes Group's Advice

If You're Buying

Today's market offers one of the best selections we've seen in years.

Take advantage of the increased inventory by comparing neighbourhoods, evaluating long-term value, and negotiating confidently. With less urgency than recent years, buyers have the opportunity to make informed decisions instead of emotional ones.

If You're Selling

Buyers have options, which means presentation has never been more important.

To stand out:

• Price your home accurately from day one.

• Complete small maintenance items before listing.

• Invest in professional photography and staging.

• Make an outstanding first impression online.

Homes that are well-prepared and strategically priced continue to attract strong interest, even in a balanced market.

Local Knowledge Makes the Difference

Every community across Greater Victoria tells a different story.

Whether you're buying in Langford, selling in Oak Bay, investing in Saanich, or searching for your first condo in downtown Victoria, local market knowledge can make a significant difference in your results.

At Pivot Homes Group, we combine market data, neighbourhood expertise, and proven negotiation strategies to help you move with confidence.

If you're thinking about buying or selling this year, we'd be happy to discuss your goals and help you make your next move with clarity and confidence.

Notice: Market statistics are based on the official July 2026 report from the Victoria Real Estate Board (VREB).