February 2026
Victoria Real Estate Board Market Report – February 2026
While some large markets across Canada have experienced significant price drops over the last year, the Victoria Real Estate Market has remained quite resilient. Overall sales have slowed in recent months, and listing inventory remains on the higher side, but prices have only dropped slightly. Interest rates remain stable so not much should change in the market in the coming months.
Below are some statistics for January 2026 and Year end throughout the Greater Victoria region
Listing Inventory:
There were 2,624 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2026, an increase of 3.1 % compared to the previous month of December and a 9.6 % increase from the 2,395 active listings for sale at the end of January 2025. This higher inventory is great for Buyers, increasing their choice and allowing more time to make Buying decisions.
Sales:
A total of 339 properties sold in the Victoria Real Estate Board region this January, 19.7 % fewer than the 422 properties sold in January 2025 and 7.6 % fewer than in December 2025. Sales of condominiums decreased by 25.3 % from January 2025 with 109 units sold. Sales of single family homes decreased by 21.1 % from January 2025 with 153 sold. Overall sales were quite low in January. With the current higher inventory levels, only about 1 in 7 homes are selling per month. Therefore, Sellers must price there homes correctly to attract showings and offers.
Average Victoria Real Estate Prices:
The Multiple Listing Service® Home Price Index* benchmark value for a single family home in the Victoria Core in January 2025 was $1,297,300. The benchmark value for the same home in January 2026 decreased by 2.5 % to $1,265,500, up from December’s value of $1,255,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2025 was $545,900, while the benchmark value for the same condominium in January 2026 decreased by 1.5 % to $537,800, down from the December value of $549,900. Year over year, prices are down in most sectors of the Greater Victoria market. This is to be expected as inventory levels increase while sales drop. Victoria is a desirable city that continues to attract new residents, allowing the market to remain buoyant even in slower economic times.
For the full Victoria Real Estate Boards Statistical Package for 2026 click on the following link below
https://www.vreb.org/current-statistics#gsc.tab=0
The BC Tax Assessment Values for 2026.
You can click on the link below to confirm your current assessed value. If you have any questions about these values, please reach out to me and I can do some research to verify if they are inline with the neighborhoods values.
Featured Listings:
6885 Laura’s Lane $739,800
This great valued Rancher is located on a quiet cul-de-sac in a popular Family Neighbourhood in Sooke, only minutes to all local amenities in the Sooke town core. Quality built in 2015, this one level home is elegantly designed with 3 bedrooms, 2 baths and just over 1600 sq.ft. The open-concept layout offers 10’ ceilings, bleached wood-style laminate flooring, bright living room with picture windows and a modern gas fireplace. Stylish kitchen with quartz counters, tile backsplash, stainless appliances & gas cooktop. Dining with slider to sunny back patio. Spacious bedrooms, including a primary with huge walk-in closet & spa-like 5pc ensuite. Hot water on demand, quality finishes throughout. Fully fenced, irrigated & beautifully landscaped with pear trees, grapevines & Japanese maple. Large over sized garage. A perfect blend of comfort & style! Well priced! Listed below BC Assessed value.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024973-6885-laura-s-lane-sooke-v9z-0p8.107974345
PH2 103 Gorge Rd E $424,800
Top Floor Penthouse suite at the popular Treelane Estates. Waterfront Living on the Gorge Waterway! Bright one-bedroom suite with stunning southwest water, city and mountain views. Treelan Estates is comprised of two steel & concrete buildings that are quietly set back from the road on the Gorge Waterway. This suite boasts a spacious living/dining area, galley kitchen, large bedroom, and a storage room. Great views from all windows plus a large view balcony. Laundry is conveniently located on same floor. The building itself is known for its strong amenities, including a rooftop patio and lounge, kayak and bike storage, workshop, guest suite. Located along the scenic Gorge Waterway with walking trails and water access nearby, this central location provides easy access to downtown Victoria, Tillicum Centre, and major transit routes. Affordable entry into a waterfront complex in a desirable, established community.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024971-ph2-103-e-gorge-rd-victoria-v9a-6z2.107974344
1954 Polo Park Crt $819,800
This well designed and quality built townhouse offers over 1,600 sq ft on 2 levels. One of Saanichton’s most convenient & desirable locations. Main level living with primary bedroom on main for those looking for no stairs. The kitchen features a corner island & breakfast area, perfect for casual mornings, while the spacious open living and dining area lead to a private garden patio. The main-floor primary bedroom offers a spa-inspired ensuite with a soaker tub and separate shower and walk-in closet. Upstairs has two more spacious bedrooms and a main bathroom, ideal for guests or caretaker. Double garage and large private driveway with room for 2 more vehicles complete the package. Lots of storage. Walking distance to groceries, banking, pharmacy, hardware store, post office, cafés and eateries, centrally located for easy commute to both Sidney and Victoria. This exceptional home blends comfort, lifestyle, and location in perfect harmony.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024120-1954-polo-park-crt-central-saanich-v8m-2k1.107709923
Lot A 265 Trans Canada Hwy $3,999,800
Moon Water Lodge is a beautiful west coast designed boutique Hotel situated on a special 9.58acre parcel with spectacular panoramic ocean and mountain views of Finlayson Arm and Mt. Finlayson. The business is running very well and is quite self sufficient. 8400 sq/ft on 4 levels with 14 rooms with potential to expand as lowest level is unfinished. Sale includes the business, building and land. The large acreage has great potential as well. Hotel was built in 2002. The rooms are all positioned to take advantage of the views, with kitchenettes, propane fireplaces, soaker tubs. Real Estate and Business are included in sale. All Business equipment, supplies and web site are included. Serviced by septic treatment plant and drilled well. Located next door to the Malahat Chalet restaurant. Call for appointment.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1015717-lot-a-265-trans-canada-hwy-malahat-v0r-2l0.107100197
933 Turnstone Ridge $598,800
Popular Turnstone Ridge Development in the Happy Valley area of South Langford. 3 Story Modern Townhouse offering 2 spacious Bedrooms & 2 Bathrooms. You will Love the Open Living Concept main floor with Designer Kitchen & Quartz Counters, Stainless Appliances, Gas Fireplace, Gas On Demand Hot Water, Gas Cooktop on Oven, Gas Line to Patio for BBQ. Updated Ductless Heat Pump for Cool Summers and Warm Winters. This unit will impress with its Quality Finishes, includes Laminate Flooring, Ceramic Tiles, Luxury Carpets, Closet Organizers, some updated hardware and fixtures. Large Tandem Double Car Garage with roughed in EV Charger, and extra storage! This unit has a Private Rear Patio off the Kitchen. Unfinished space is storage at back of the garage which other units have finished as a bedroom. Located a short walking distance to Happy Valley Elementary and the Galloping Goose Trail. 10 minutes to Belmont Market and Royal Bay. 2-5-10 New Home Warranty.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024631-933-turnstone-ridge-langford-v9c-0j4.107740859
109 797 Tyee Rd $649,800
The Gateyard is a quality-built Vic West complex in the Railyards community fronting the Selkirk Waterway and close to the Galloping Goose Trail. Spacious 2 bedroom, 2 bath condo with 2 parking spots, separate storage and 2 pets allowed! 973 sq/ft plus a 309 sq.ft private and part covered garden patio. Cozy electric fireplace in the spacious livingroom, large kitchen with stainless appliances and wood floors. Nice open layout to the spacious livingroom and dining area with a cozy electric fireplace and leading to the entertaining sized patio. Primary bedroom has 4 piece ensuite and large closet space, in-suite laundry, 2 in ground secure parking spots. Short walk to amenities, and minutes to downtown Victoria. Pet friendly.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024215-109-797-tyee-rd-victoria-v9a-7r4.107717024
521 Pamela Pl $1,399,800
OPEN HOUSE SUNDAY, FEB 15TH, 1:30PM-3:00PM. Spacious 2 level family home in desirable Northridge area of Saanich located on a quiet cul-de-sac. Built in 1996, with 3200+ sq/ft on 2 levels, 5 bedrooms, 4 baths. The main level features large formal livingroom with gas f/p, brand new kitchen with stainless appliances, quartz counters, under cabinet lighting, dining area and familyroom with 2nd gas f/p, plus 3 spacious bedrooms, 2 full bathrooms, updated vanities. Primary with large ensuite, soaker tub, separate shower, walk-in closet. 2 large decks for entertaining. Downstairs offers 2 bedrooms, 2 baths, and great options for extended or multi-generational living with perfect flex area with own bathroom, ideal for teenager or home office. 3rd gas F/p down, 2 laundry areas, heat pump with electric furnace, nicely landscaped with fenced yard, great for kids & pets. Double garage plus large driveway. Close to Royal Oak Shopping, excellent schools, 15 minutes to downtown, Airport & Ferries.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1024957-521-pamela-pl-saanich-v8z-4h1.107961013
4 933 Meares St $1,249,800
Enjoy luxurious downtown Victoria living at the award winning Terra Rose, built by Abstract Developments. A private enclave of 6 townhomes overlooking heritage greenspace. An oasis within the city. Enter through a private breezeway surrounded by mature landscaping & custom walkway lighting. Over 2000 sq. ft. of elegant living with 3 bedrooms and 4 bathrooms. Quality finishings including 10′ ceilings, cherry wood floors, custom wood & stainless appliances, granite counters, wine fridge, built in cabinetry, in-floor radiant heat, gas f/p. Primary bedroom has vaulted ceilings, Juliet park view Balcony, spa inspired ensuite w/separate shower & soaker tub. Lowest level offers 3rd bedroom or office with murphy bed. Entertain on your 200 sq/ft private garden terrace w/BBQ hookup. 2 underground parking spots with EV charger, separate storage plus a heated storage attic. 5-10 minute walk to most downtown shopping, restaurants, theatres, cinemas, and cultural venues.
View Listing herehttps://dalesheppard.com/search-listings/featured-listings/#!listing.1024894-4-933-meares-st-victoria-v8v-3j5.107951749
We closely monitor the Victoria BC real estate market. If you or any of your family or friends require related information, feel free to contact Dale at 250-744-0844, or email him through his website: www.dalesheppard.com
