Downtown residential real estate market — Jun 2026

Is Downtown a buyer's or seller's market?

As of the latest data, Downtown is a balanced market. There are about 6.2 months of inventory — 4 to 7 months is considered balanced. Around 3.5% of condos sold above asking, and the typical sale closed at 97.1% of list price.

How much does a condo cost in Downtown?

The median sold price for a condo in the Downtown neighbourhood is $500K, down 3.7% from a year ago. The average sold price is $565K. That works out to roughly $745 per square foot.

Are condos in Downtown selling over asking?

3.5% of condos that sold in the Downtown neighbourhood closed above their list price. The typical home sold at 97.1% of asking — just under list. Among the homes that sold over asking, the median premium was +$1.8k over asking.

How long do condos take to sell in Downtown?

Half of the condos that sold in the Downtown neighbourhood went under contract within about 41 days — the median days on market. A longer time on market gives buyers more negotiating room.

Are home prices going up or down in Downtown?

Median sold prices in the Downtown neighbourhood are down 3.7% year over year, at $500K. Currently 21.8% of active listings have cut their asking price at least once, a sign of steady pricing pressure.

Is now a good time to buy or sell in Downtown?

It depends which side you are on. With about 6.2 months of inventory, the Downtown neighbourhood is roughly balanced between buyers and sellers. Conditions are even-handed: condos take about 41 days to sell, so both sides have room to negotiate on price and terms.

What is the best time of year to sell a home in Downtown?

Across the past two years, sales activity in the Downtown neighbourhood has been strongest in March and quietest in January. In Greater Victoria the spring market — roughly March through June — is typically the busiest selling season, when buyer demand and prices tend to peak, with activity easing over the winter.

How many condos are for sale in Downtown?

As of the latest data there are 187 active condo listings in the Downtown neighbourhood. Over the period, 818 new listings came to market and 333 sold, which is about 6.2 months of inventory at the current sales pace.

Do condos in Downtown sell for more than their assessed value?

The typical home in the Downtown neighbourhood sold at 94.4% of its BC-assessed value — below its assessed value. Assessments are set once a year and lag the market, so a ratio above 100% is common when prices are rising.

Directional market benchmarks from Repliers MLS, BC Assessment & VREB — not an appraisal or personalized advice.