Market Insight Series – January 2026

sasha540
Jan 3
3 min read

Updated: Jan 4

What does the current Victoria real estate market look like?

As part of our ongoing Market Insight Series, I’m excited to kick off 2026 with a clear snapshot of how the Victoria and Vancouver Island real estate market closed out the year. Below, we’ll break down the latest sales figures, inventory trends, and pricing movements from December 2025—and more importantly, what they mean for buyers and sellers moving into the new year.

Let’s dive into the numbers straight from the Victoria Real Estate Board, because December tells an important story about market balance, opportunity, and stability. If you missed last month’s Market Insight, click here.

December 2025 Sales Snapshot

In December 2025, a total of 367 properties sold across the Victoria Real Estate Board region. That represents a 12.8% decrease compared to the 421 properties sold in December 2024, and an 18.6% decline from November 2025. Breaking those numbers down by property type gives us a clearer picture:

Condominium sales declined 21.5% year-over-year, with 106 units sold
Single-family home sales dipped slightly, down 2.6% from December 2024, totaling 186 homes sold

While December activity slowed—as is typical seasonally—it’s important to look beyond one month and consider the broader annual trend.

A Look at the Bigger Picture: 2025 in Review

Over the course of 2025, 6,918 properties sold, marking a 0.36% increase over the 6,893 sales recorded in 2024. That steady performance highlights a market that remained resilient despite ongoing global economic uncertainty.

According to Victoria Real Estate Board Chair Fergus Kyne, consistency defined the year. While external pressures continued to impact consumer confidence, local pricing stayed relatively balanced and transaction levels remained stable. One of the most influential factors shaping the market in 2025 was inventory.

Inventory Levels: Choice and Stability

By the end of December 2025, there were 2,544 active listings on the Victoria Real Estate Board’s Multiple Listing Service®. That figure represents a 19.3% decrease from November, reflecting the typical seasonal slowdown, but still an 11.1% increase year-over-year compared to December 2024.

Throughout 2025, the market saw one of the highest volumes of new listings on record, creating a healthier environment overall. Buyers benefitted from more options and more time to make informed decisions, while sellers enjoyed clearer pricing expectations and more predictable timelines. This balance helped stabilize the market after the volatility of previous years.

Pricing Trends: Different Stories by Property Type

Now let’s turn to prices—where the data shows some divergence between single-family homes and condominiums.

The MLS® Home Price Index benchmark value for a single-family home in the Victoria Core was $1,316,700 in December 2024. By December 2025, that benchmark had declined 4.7% to $1,255,000, also down 1.7% from November’s value of $1,276,700.

Condominiums followed a steadier path. The benchmark condo value in the Victoria Core was $546,100 in December 2024, increasing 0.7% year-over-year to $549,900 in December 2025, though slightly lower than November’s benchmark.

Chair Kyne noted that MLS® HPI trends varied significantly by region and property type throughout the year. While single-family home values softened in the Victoria Core, the Westshore experienced modest gains, and condo prices remained relatively flat overall.

What This Means Heading Into 2026

As we move into 2026, inventory levels will continue to be one of the most important forces shaping the market. Buyers can expect more choice and negotiating room, while sellers who track pricing trends closely—and present their homes well—will still see strong results.

Consumers are responding positively to properties that offer clear value, are well-maintained, and are priced realistically. Whether you’re planning to buy, sell, or simply stay informed, understanding how these market dynamics apply to your specific neighborhood is key.

Conclusion

The goal of this Market Insight Series is to give you a clear, practical understanding of what’s happening across the Victoria and Vancouver Island real estate market. Market conditions can vary widely by area and property type, and having accurate, timely information makes all the difference.

If you’re thinking about making a move in 2026—or just want to understand how these trends affect your plans—feel free to reach out. I’m always happy to answer questions and help you build a strategy that fits your goals.

Talk To Me Now

Glossary Term

Encroachment.

Encroachment in real estate involves a property owner building or extending a structure onto a neighbor's land, either intentionally or unintentionally, and violating the neighbor's property rights.

https://www.investopedia.com/terms/e/encroachment.asp