Mayfair residential real estate market — Jun 2026

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

As of the latest data, Mayfair is a balanced market. There are about 4.5 months of inventory — 4 to 7 months is considered balanced. Around 18.5% of homes sold above asking, and the typical sale closed at 98.1% of list price.

How much does a home cost in Mayfair?

The median sold price for a home in the Mayfair neighbourhood is $850K, down 6.2% from a year ago. The average sold price is $860K. That works out to roughly $549 per square foot.

Are homes in Mayfair selling over asking?

18.5% of homes that sold in the Mayfair neighbourhood closed above their list price. The typical home sold at 98.1% of asking — just under list. Among the homes that sold over asking, the median premium was +$20k over asking.

How long do homes take to sell in Mayfair?

Half of the homes that sold in the Mayfair neighbourhood went under contract within about 20 days — the median days on market. That is a moderate pace.

Are home prices going up or down in Mayfair?

Median sold prices in the Mayfair neighbourhood are down 6.2% year over year, at $850K. Currently 29.3% of active listings have cut their asking price at least once, a sign of softening pricing pressure.

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

It depends which side you are on. With about 4.5 months of inventory, the Mayfair neighbourhood is roughly balanced between buyers and sellers. Conditions are even-handed: homes take about 20 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 Mayfair?

Across the past two years, sales activity in the Mayfair neighbourhood has been strongest in June and quietest in November. 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 homes are for sale in Mayfair?

As of the latest data there are 12 active home listings in the Mayfair neighbourhood. Over the period, 64 new listings came to market and 27 sold, which is about 4.5 months of inventory at the current sales pace.

Do homes in Mayfair sell for more than their assessed value?

The typical home in the Mayfair neighbourhood sold at 100.8% of its BC-assessed value — about 1% above its BC Assessment. 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.