If you're wondering whether now is a good time to buy or sell a home in Victoria, BC, the August 2026 market statistics offer plenty of useful insight. The region just closed out its strongest August for sales activity in five years, and buyers and sellers who understand the current numbers are in the best position to make confident decisions. As a local Realtor, I break down what happened in the real estate market this August so you can see exactly where things stand.

Victoria Real Estate Market at a Glance

The Victoria Real Estate Board (VREB) reported 591 property sales in August 2026, which represents:

• 12.6% more sales than August 2025
• 12.2% fewer sales than July 2026

Breaking it down further:

• 309 single-family homes sold, up 15.3% year over year
• 175 condominiums sold, up 15.1% compared to August 2025

Both segments posted double-digit sales growth compared to a year ago, a sign that buyer demand strengthened broadly across the region rather than concentrating in one property type. VREB Board Chair Fergus Kyne noted that sales activity in August was "stronger than we've seen in five years, while inventory remained at healthy levels," a strong signal of renewed buyer confidence heading into fall.

Inventory Continues to Give Buyers More Choice

There were 3,662 active listings for sale on the VREB MLS® at the end of August, down 4.8% from July but still up 1.7% from a year earlier. Even as sales accelerated, inventory held at healthy levels, which is part of what's keeping this market balanced rather than tipping into a frenzy.

With inventory holding steady, buyers can still take their time, compare properties, and negotiate rather than feeling pressured into a rushed offer. For sellers, strong sales activity combined with healthy inventory means well-priced, well-presented homes are finding buyers, though pricing strategy and professional marketing still matter for standing out.

August 2026 Market Statistics by Property Type

Here's a closer look at how each segment performed in August, comparing this year to August 2025.

Single-Family Homes

Single-family home sales in the Victoria Core climbed to 238 units, up from 208 a year ago, even as average sale prices eased slightly to $1,236,292 from $1,255,148. Homes took about the same amount of time to sell as last August, and listings were down modestly year over year, giving buyers a bit less to choose from than in 2025.

Condominiums & Apartments

Condos and apartments were one of the strongest segments this August, with 175 units sold compared to 152 a year ago and average prices rising to $625,363 from $583,282. Homes in this category took a bit longer to sell and there were more listings to choose from, but rising sales and rising prices together point to solid demand from first-time buyers and downsizers alike.

Row Houses & Townhouses

Row houses and townhouses were the quieter corner of the market this August, with 63 sales compared to 66 a year ago and average prices easing slightly to $843,966 from $870,978. The biggest shift was in supply, with listings up sharply from a year ago, giving buyers considerably more choice and a bit more negotiating room in this category.

Waterfront Homes

The waterfront segment stood out this August, with 23 sales compared to 19 a year ago and homes selling dramatically faster, in 63 days on average compared to 105 days last August. Average prices eased slightly to $2,016,413 from $2,113,789, but with the same number of listings on the market as last year, faster sales point to renewed buyer appetite for this premium waterfront lifestyle.

Home Prices Remain Relatively Stable

Despite strong sales activity, benchmark home values across the Core have remained relatively steady.

Single-Family Homes (Core Benchmark)

The MLS® HPI benchmark price for a single-family home in the Core was $1,301,800 in August 2026, down 0.6% from a year earlier.

Condominiums (Core Benchmark)

The MLS® HPI benchmark price for a condominium in the Core was $553,600 in August 2026, up 0.9% from a year earlier. These relatively modest price changes reinforce that today's market is better described as balanced and stable rather than overheated or declining.

My Thoughts on the August 2026 Real Estate Market

Overall, August confirmed what we've been seeing for much of 2026: the region has settled into a healthier, more balanced market than we experienced during the pandemic years, and this was the strongest August for sales activity in five years. For buyers, that means solid inventory to explore and a market that still rewards patience and preparation over rushed decisions. For sellers, it means success depends on getting the fundamentals right: accurate pricing, strong presentation, and marketing that reaches serious buyers, especially as sales activity strengthens. Every neighbourhood and property type behaves a little differently, so local, up-to-date knowledge continues to matter more than ever.

Frequently Asked Questions: Victoria BC Real Estate Market, August 2026

Is Victoria BC a buyer's or seller's market right now?

As of August 2026, the market is best described as balanced. Sales rose 12.6% year over year and benchmark home prices have held largely steady, which doesn't strongly favor buyers or sellers: well-priced, well-presented homes are still selling, and buyers still have reasonable choice and time to make decisions.

What is the average home price here in August 2026?

The MLS® HPI benchmark price for a single-family home in the Core was $1,301,800 in August 2026, essentially flat compared to a year earlier. The benchmark price for a condominium was $553,600, up slightly year over year.

How many homes sold in the region in August 2026?

591 properties sold across the VREB region in August 2026, up 12.6% from August 2025, though down 12.2% from July 2026's stronger summer pace.

Is now a good time to sell a house here?

Conditions look solid for sellers heading into fall: sales activity in August 2026 was the strongest in five years according to VREB Board Chair Fergus Kyne, and prices have remained stable rather than declining. Homes that are accurately priced and well presented continue to attract buyers.

Thinking About Buying or Selling in Victoria BC?

Whether you're considering buying your first home, upgrading, downsizing, or simply curious about your home's current value, I'd be happy to help you understand what today's market means for your specific situation. Every property, and every client's goals, are different, and having a strategy tailored to current market conditions can make all the difference. If you'd like a complimentary home evaluation or have questions about the local market, feel free to reach out anytime.