March 2026
Victoria Real Estate Board Market Report – March 2026
The Victoria real estate market has held steady through the early months of 2026. With plenty of outside factors keeping both buyers and sellers sidelined, sales numbers have slowed this year, but home prices have remained resilient and continue to hold their ground. That said, the market is beginning to tilt in favour of buyers. With more listings available, Buyers have greater choice than we’ve seen in recent months. For Sellers, this means pricing your home correctly is more important than ever to stand out and attract serious interest.
Below are some statistics for February 2026 and Year end throughout the Greater Victoria region
Listing Inventory:
There were 2,903 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2026, an increase of 10.6 % compared to the previous month of January and a 10.4 % increase from the 2,630 active listings for sale at the end of February 2025. This increased inventory bodes well for Buyers, resulting in lots of choice and allowing extra time to make Buying decisions.
Sales:
A total of 465 properties sold in the Victoria Real Estate Board region this February, 11.9 % fewer than the 528 properties sold in February 2025 and 37.2 % more than in January 2026. Sales of condominiums decreased by 19.8 % from February 2025 with 154 units sold. Sales of single-family homes decreased by 12 % from February 2025 with 206 sold. Sales numbers always pick up as we near the spring market but the current drop in sales from 2025 numbers a bit concerning. While higher listing inventory is good for Buyers, if sales do not keep pace with the increased inventory levels, this excess supply eventually leads to price drops in the market. The next few months will be interesting to see how these imbalances play out.
Average Victoria Real Estate Prices:
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2025 was $1,319,100. The benchmark value for the same home in February 2026 decreased by 0.9 % to $1,307,400, up from January’s value of $1,265,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2025 was $549,600, while the benchmark value for the same condominium in February 2026 decreased by 0.7 % to $545,600, up from the January value of $537,800. Both single family home and condo prices have jumped up slightly in February, but remain relatively unchanged from 1 year ago. Prices are remaining stable in our region which is a good thing for our market. However, continued increasing inventory levels, combined with a lot of outside distractions keeping Buyers sidelined, may create a prolonged slower market in Victoria, so it is hard to predict where prices will end up in the coming months.
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:
485 Sturdee St $949,800
Situated in a Popular Esquimalt location, this well-maintained two-level 1/2 duplex family home offers bright southern exposure and is located on a fantastic quiet no thru road, just half a block to the ocean. Built in 1996 with 3 beds and 2 full baths, with 1686 Sq.ft. on 2 levels. The main floor offers a spacious living and dining areas, a generous primary bedroom with ensuite, and a beautiful European-style kitchen that opens to a large south-facing deck—perfect for entertaining and soaking up the sun. The lower level features a welcoming entry, two bedrooms, and a full bath—ideal for guests, family, or home office space. Outside, enjoy a fenced, private rear yard and garden, storage shed, and a separate single garage plus a large carport under the deck. Short walk to Esquimalt town centre for all local amenities, close to Saxe Point and 10 minutes to downtown Victoria.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1026151-485-sturdee-st-esquimalt-v9a-6r2.108066181
1975 Jeffree Rd $999,800
Situated in a sought-after family neighbourhood in Saanichton, this spacious 2,495 sq. ft. two-level home sits on a generous 8,400 sq. ft. lot, great for a growing family. Built in 1975 and thoughtfully designed, the main level features 3 generous bedrooms, primary bedroom with a walk-in closet & two-piece ensuite. The bright and welcoming living room with a cozy fireplace, separate dining area flows seamlessly into a well-appointed kitchen leading to a large entertainment-sized deck — perfect for summer BBQs & gatherings. Downstairs, you’ll find a family room with plenty of space for movie nights, hobbies, or play area. Fully self-contained one-bedroom in-law or extended family space, ideal for multigenerational living. Laundry facilities on both levels. Heat Pump. Fenced backyard offers plenty of room for kids and pets to play. Single garage, extra driveway parking, and dedicated space for your RV or boat. Located only 15 minutes to Victoria, BC Ferries and the Airport.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025781-1975-jeffree-rd-central-saanich-v8m-1k1.108034989
3370 Alfred Pl $998,800
Sought after Wishart South area of Colwood, located on a quiet cul-de-sac in, just minutes to the Ocean and all local amenities in Royal Bay. Built in 2004, this well-maintained 2-level home offers 1,800 sq/ft with 4 bedrooms plus a den and 3 baths. The main floor features an open-concept kitchen, dining, and living area with a cozy gas fireplace, opening to patio with gas BBQ hookup, and a level, fenced backyard perfect for kids and pets. A spacious office/den completes the main. Upstairs offers 4 bedrooms, including a primary bedroom with walk-in closet and 4-piece ensuite with soaker tub. Double garage, Built-in Vacuum, detached workshop with power, landscaped yard with garden beds, new gas hot water tank, crawl space. Short walk to all level of schools, close to parks Colwood Lagoon. Note: Shared cost with neighbour to maintain common property insurance & common property septic system hydro and maintenance.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025401-3370-alfred-pl-colwood-v9c-3j4.108044370
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
308 835 View St $339,800
Immaculate 1 Bed condo in the highly sought after Metropolitan building. Investors and first-time buyers will see great value in this steel and concrete building only steps away from everything that Downtown Victoria has to offer. The apartment features a well-designed layout that maximizes space & natural light with new flooring & baseboards throughout. The living room is an inviting area for relaxation & entertainment & the kitchen provides ample space for your meal preparations. The bedroom is a peaceful retreat with enough room for a queen size bed and end tables! Ample storage space, convenient in-suite laundry, as well as a large south facing balcony providing a cozy outdoor space, perfect for enjoying a cup of coffee or soaking up the city views. Pets allowed and unit is rentable! Close to transit. Easy access to an abundance of amenities, including trendy restaurants, vibrant shops, entertainment venues, cafes and picturesque parks. A real pleasure to show.
View Listing here https://dalesheppard.com/search-listings/featured-listings/#!listing.1025387-308-835-view-st-victoria-v8w-3w8.108025354
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
