monthly market update
Victoria Real Estate Market Update: July 2026
Homes in Greater Victoria took 37 days to sell in July — up from 27 in June. That is the largest one-month increase in the 26 months of data we hold. Inventory barely moved. The extra time is the story, and the reason is price.
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Victoria BC Real Estate: 37 Days To Sell
Dustin walks through the days-on-market jump, why inventory isn't the cause, and what it changes for anyone listing in August.
at a glance
Greater Victoria, July 2026
Median days on market
37 days
▲ 10 days vs June · ▲ 5 vs July 2025
Median sale price
$880,000
▼ 3.2% vs June · ▲ 2.0% vs July 2025
Sales
597
Essentially flat: 606 in June, 598 last July
Active listings
2,540
▲ 67 vs July 2025 — a 2.7% difference
Sold over asking
12%
14% in June · 13% in July 2025
Sales with a price cut
26.4%
Highest on record · 21.8% in June
the short version
- Time, not volume, is what changed. 597 homes sold in July — within nine sales of both June and last July. Buyers didn't disappear; they slowed down.
- Supply is not the culprit. There were 2,540 active listings at month end against 2,473 a year ago — 67 more across the entire region.
- Price is the culprit. 26.4% of July sales came after a price reduction — the highest share since we began tracking it in October 2024, and up from 21.8% in June.
- Sellers who priced right still won fast. Townhomes were the exception: 1 in 5 sold above asking, versus 3% of one-bedroom condos.
- The regional median hides a 26-day spread. Sidney sold in 24 days; Sooke took 50.
01 · the headline
Days on market jumped 10 days in a single month
A Greater Victoria home that went under contract in July had sat for a median of 37 days. In June that figure was 27. A ten-day move in one month is not normal seasonal drift — in the 26 months we have captured, the next-largest single-month increase was six days, and that was December, when the market always thins out.
Median days on market — Greater Victoria, all property types
Jun 2024 – Jul 2026. Each bar is one completed month. Hover a bar for its value and sale count.
Source: 8X Real Estate market intelligence, VREB/Repliers MLS® data. Median days on market, all residential property types, Greater Victoria CMA. Each month's sale count is shown on hover — every month plotted clears our 10-sale minimum comfortably.
| Metric | Jul 2026 | Jun 2026 | Jul 2025 | MoM | YoY |
|---|---|---|---|---|---|
| Median days on market | 37 | 27 | 32 | +10 days | +5 days |
| Median sale price | $880,000 | $909,000 | $862,450 | −3.2% | +2.0% |
| Sales | 597 | 606 | 598 | −1.5% | −0.2% |
| Active listings (month end) | 2,540 | 2,705 | 2,473 | −6.1% | +2.7% |
| Months of inventory† | 4.3 | 4.5 | 4.1 | −0.2 | +0.2 |
| Sale-to-list ratio | 97.6% | 98.1% | 98.0% | −0.5 pts | −0.4 pts |
| Sale-to-assessed ratio | 99.8% | 100.6% | 101.4% | −0.8 pts | −1.6 pts |
| Sold over asking | 12% | 14% | 13% | −2 pts | −1 pt |
| Median $ over asking (when over) | $15,600 | $23,623 | $26,300 | −34% | −41% |
| Sales that had a price reduction | 26.4% | 21.8% | 22.8% | +4.6 pts | +3.6 pts |
† Months of inventory computed as month-end active listings ÷ that month's sales. All three periods clear the 10-sale minimum by a wide margin (597 / 606 / 598 sales).
02 · ruling it out
It wasn't a flood of new listings
The reflex explanation for a slower market is oversupply. It doesn't hold here. Greater Victoria finished July with 2,540 active listings against 2,473 in July 2025 — a difference of 67 homes across thirteen municipalities. Active inventory actually fell 6.1% from June. And new listings were down year over year, not up.
| Measure | Jul 2026 | Jun 2026 | Jul 2025 | YoY |
|---|---|---|---|---|
| New listings | 1,052 | 1,237 | 1,147 | −8.3% |
| Active listings (month end) | 2,496 | 2,694 | 2,473 | +0.9% |
| Sales | 592 | 607 | 604 | −2.0% |
These are the summed 13-municipality figures. They track the Greater Victoria CMA totals quoted elsewhere on this page closely but not identically (2,496 here vs 2,540 CMA for July, a capture-timing difference) — so read each row against the others in this table, not against the CMA numbers above. The direction is the same on either basis: supply did not surge.
Sixty-seven extra listings across an entire region does not add ten days to a sale. Something else did.
Dustin Miller · Managing Broker03 · the cause
The reason is price
Three independent measures all moved the same direction in July, and all three describe asking prices running ahead of what buyers would pay.
More sellers had to cut
26.4% of July's completed sales had gone through at least one price reduction first. That is the highest share in the 22 months we have tracked this metric, above June's 21.8% and last July's 22.8%.
Winning bids got smaller
When a home did sell over asking, the median overage was $15,600 — down from $23,623 in June and $26,300 last July. Competition thinned even where it survived.
Sales slipped below assessment
The median sale closed at 99.8% of BC Assessment value, the first sub-100% reading since December 2025 and down from 101.4% a year ago.
Read together, these say the same thing from three angles. Listings that came to market in June and July at spring pricing met a buyer pool that had already re-priced. Those homes sat, then cut, then sold — and every one of them dragged the median days-on-market figure up with it. Homes that were priced to July's reality still moved quickly; they are simply outnumbered this month.
04 · segmentation
The slowdown was not evenly shared
Townhomes were the standout: one in five sold above asking in July, the highest over-asking rate of any segment and up from 14% in June. One-bedroom condos were the opposite end — 3% sold over asking, and they took a median of 44 days.
| Property type | Sales | Median price | YoY price | Days on market | vs Jun | Over asking | Sale-to-list | $/sq.ft. |
|---|---|---|---|---|---|---|---|---|
| Single family | 276 | $1,200,000 | −1.5% | 36 | +10 | 12% | 97.2% | $579 |
| Townhouse | 75 | $799,900 | −1.2% | 38 | +9 | 20% | 98.9% | $553 |
| Condo (all) | 220 | $525,000 | −3.7% | 40 | +12 | 9% | 97.7% | $653 |
| — 1-bedroom condo | 73 | $430,000 | −9.3% | 44 | +15 | 3% | 97.5% | $682 |
| — 2-bedroom condo | 136 | $576,250 | −0.6% | 39 | +11 | 13% | 97.9% | $635 |
| — Condo with parking | 202 | $536,500 | −2.4% | 40 | +12 | 9% | 97.8% | $657 |
| All types | 597 | $880,000 | +2.0% | 37 | +10 | 12% | 97.6% | $601 |
Every row clears the 10-sale minimum (smallest sample: 73 one-bedroom condo sales). "vs Jun" is the change in median days on market from June 2026. The all-types median rose year over year while every individual type fell — that is a mix effect: single-family made up a larger share of July's sales than a year ago, not evidence that any one segment appreciated.
| Segment | Jul 2026 | Jun 2026 | Jul 2025 | Sales (Jul 2026) |
|---|---|---|---|---|
| Townhouse | 20% | 14% | 17% | 75 |
| 2-bedroom condo | 13% | 10% | 6% | 136 |
| Single family | 12% | 15% | 14% | 276 |
| Condo (all) | 9% | 9% | 7% | 220 |
| 1-bedroom condo | 3% | 7% | 9% | 73 |
Townhouses and one-bedroom condos moved in opposite directions from the same month, the same board, and the same data pull — a genuine divergence in demand, not a basis artefact.
05 · geography
Greater Victoria by municipality
The 37-day regional median conceals a 26-day spread. Sidney sold fastest at 24 days and was one of five municipalities where time-to-sell actually improved year over year. Sooke was slowest at 50 days and carries 7.1 months of inventory — the only genuine buyer's market in the region.
| Municipality | Sales | Median price | YoY price | DOM | DOM YoY | Active | New | MoI | Over ask |
|---|---|---|---|---|---|---|---|---|---|
| Saanich | 163 | $1,060,000 | +2.4% | 37 | +14 | 536 | 247 | 3.1 | 12% |
| Victoria | 133 | $670,000 | +3.6% | 27 | −6 | 532 | 217 | 4.1 | 14% |
| Langford | 95 | $760,000 | −5.0% | 46 | +11 | 499 | 215 | 5.4 | 9% |
| Colwood | 36 | $832,500 | −2.6% | 38 | −7 | 114 | 48 | 3.3 | 17% |
| Sooke | 30 | $783,750 | +8.2% | 50 | +2 | 210 | 53 | 7.1 | 10% |
| Central Saanich | 27 | $1,074,000 | +5.9% | 29 | −4 | 103 | 52 | 3.8 | 15% |
| Sidney | 25 | $825,000 | −8.3% | 24 | −8 | 85 | 49 | 2.8 | 12% |
| Oak Bay | 24 | $1,382,500 | −8.3% | 46 | +14 | 110 | 47 | 4.0 | 13% |
| Esquimalt | 24 | $762,500 | −4.7% | 40 | +10 | 122 | 48 | 5.1 | 13% |
| View Royal | 16 | $817,500 | −5.5% | 35 | −1 | 69 | 35 | 4.1 | 13% |
| North Saanich | 11 | $1,549,000 | +4.7% | 49 | +33 | 80 | 29 | 4.3 | 0% |
| Metchosin | 4 | $1,500,000 | n/a | 52 | n/a | 23 | 6 | 6.3 | 0% |
| Highlands | 4 | $1,667,500 | n/a | 63 | n/a | 13 | 6 | 4.9 | 0% |
Sorted by sales volume. Metchosin and Highlands are shown greyed with "n/a" changes on purpose — both recorded four sales in July, well under the ten-sale minimum we require before publishing any percentage change. Their price levels are listed for completeness but should not be read as a trend. North Saanich (11 sales) clears the bar but is thin; treat its +33-day DOM move as directional only. MoI = month-end active listings ÷ that month's sales.
Fastest markets
- Sidney — 24 days, 2.8 months of inventory. The tightest submarket in the region.
- Victoria — 27 days, and 6 days faster than last July despite the regional slowdown.
- Central Saanich — 29 days, with 15% of sales above asking.
Slowest markets
- Sooke — 50 days and 7.1 months of inventory; the clearest buyer's market on the list.
- North Saanich — 49 days on 11 sales, and no sale above asking.
- Langford — 46 days with 499 active listings, the second-largest inventory pool in the region.
06 · what to do
What July means for August
If you're selling
- Your list price is now the whole strategy. A quarter of July's sellers cut their price before selling, and cutting cost them weeks. Pricing to July's comparables from day one is cheaper than a reduction in week four.
- Budget 37 days, not 27. If your plan depends on a fast close — a bridge, a subject-to-sale purchase — build the extra ten days in now.
- Assessment is no longer a floor. The median sale landed at 99.8% of assessed value. Anchoring your ask to your BC Assessment notice will overprice you in most of the region.
- Townhouse owners have leverage. One in five townhomes still sold above asking. If that's your property, price it competitively and let the market bid.
If you're buying
- Aged listings are where the value is. The median sale needed 37 days; anything past 45 has a motivated seller behind it.
- Only 12% of homes sold over asking. Eighty-eight percent did not. In most negotiations you are not competing — write accordingly.
- One-bedroom condos are the softest segment in the region. 3% over asking, 44 days, and a median price down 9.3% year over year on 73 sales.
- Sooke and Langford give you time. Seven and 5.4 months of inventory respectively — room for conditions and negotiation.
common questions
Victoria market questions, answered with July data
How long does it take to sell a house in Victoria BC?
In July 2026 the median Greater Victoria home sold in 37 days, based on 597 sales. That is up from 27 days in June 2026 and 32 days in July 2025. Single-family homes took 36 days, townhouses 38, and condos 40. By municipality it ranged from 24 days in Sidney to 50 days in Sooke.
Did Victoria home prices drop in July 2026?
The median sale price across all property types was $880,000 — down 3.2% from June 2026 but up 2.0% from July 2025. Within individual property types every segment was down year over year: single-family −1.5% to $1,200,000, townhouses −1.2% to $799,900, and condos −3.7% to $525,000. The all-types increase reflects a shift in sales mix toward detached homes rather than genuine appreciation.
Is Victoria BC a buyer's or seller's market right now?
Greater Victoria sat at roughly 4.3 months of inventory in July 2026 (2,540 active listings against 597 sales), which is balanced territory. It varies sharply by municipality: Sidney at 2.8 months and Saanich at 3.1 favour sellers, while Sooke at 7.1 months and Langford at 5.4 favour buyers.
Why are homes taking longer to sell in Greater Victoria?
Not because of oversupply. There were only 67 more active listings in July 2026 than in July 2025 — a 2.7% difference — and new listings across the 13 municipalities were actually down 8.3% year over year. The cause shows up in pricing: 26.4% of July sales had gone through a price reduction first, the highest share in our 26-month record. Sale-to-assessed fell to 99.8% and the median amount paid over asking dropped to $15,600 from $26,300 a year ago. Sellers listed above what buyers would pay, sat, cut, and sold — and that added days.
How many homes are for sale in Greater Victoria?
There were 2,540 active listings at the end of July 2026 across the Greater Victoria CMA — 2,473 a year earlier, and 2,705 at the end of June 2026. Roughly 1,050 new listings came to market in July across the 13 municipalities.
What percentage of Victoria homes sell over asking?
12% of Greater Victoria sales closed above list price in July 2026, down from 14% in June. Townhouses led at 20% (75 sales) and one-bedroom condos trailed at 3% (73 sales). When a home did sell over asking, the median premium was $15,600.
What is the median condo price in Victoria BC?
The median Greater Victoria condo sold for $525,000 in July 2026 on 220 sales — down 3.7% from $545,000 in July 2025. One-bedroom units had a median of $430,000 (73 sales) and two-bedroom units $576,250 (136 sales). Condos averaged $653 per square foot.
Which Victoria municipality sells fastest?
Sidney, at a median 24 days in July 2026 on 25 sales — eight days faster than July 2025 and the tightest inventory in the region at 2.8 months. Victoria (27 days) and Central Saanich (29 days) followed. At the other end, Sooke took 50 days and North Saanich 49.
data & method
- Source: 8X Real Estate market intelligence, built on Victoria Real Estate Board MLS® data via Repliers. Figures cover completed sales with a July 2026 report month, pulled 8 August 2026.
- Scope: residential sales excluding land and manufactured homes. "Greater Victoria" means the Victoria CMA; the municipality table covers the 13 named municipalities, a slightly narrower footprint — the two bases are labelled separately and never mixed inside a single comparison.
- Minimum sample: we do not publish a percentage change where either compared period had fewer than 10 sales. Metchosin and Highlands (4 sales each in July) are shown as levels only.
- Days on market is the median, not the mean, and measures list date to accepted-offer date.
- Sale-to-assessed compares sale price to the current BC Assessment value. Price reductions is the share of the month's completed sales that had at least one list-price reduction beforehand.
- Sold prices are VOW-licensed. Aggregates are published freely; individual sold prices appear only after BC Assessment verification.
- Our record begins June 2024, so "the largest in our record" refers to a 26-month window, not to all time. Price-reduction share is captured from October 2024 onward (22 months) — the earlier months carry no value for it, and we do not treat those as zeroes.
Wondering what 37 days means for your place?
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