The Victoria BC real estate market update for February 2026 shows a shift toward more balanced market conditions across the region. While total sales were lower than the same period last year, activity increased significantly compared to January, and inventory levels continue to grow. These changes suggest that buyers and sellers may both find strong opportunities as the spring market approaches.

According to data released by the Victoria Real Estate Board, a total of 465 properties sold in February 2026 across the region. This represents:

• 11.9 percent fewer sales compared to February 2025
• 37.2 percent more sales than January 2026

The strong month-over-month increase highlights renewed activity heading into the traditional spring real estate season.

February Sales Activity Across Property Types

Breaking down February’s numbers by property type gives a clearer picture of how different segments of the Victoria market are performing.

Condominium Sales

Condominium sales experienced a larger decline compared to last year.

• 154 condos sold in February 2026
• 19.8 percent decrease from February 2025

Despite the year-over-year drop, condominiums remain an important segment of the market, particularly for first-time buyers, investors, and downsizers looking to simplify their lifestyle.

Single Family Home Sales

Single family homes continue to make up the largest share of Victoria’s housing market.

• 206 single family homes sold in February 2026
• 12 percent decrease compared to February 2025

Although sales are slightly lower than last year, the increase from January indicates that buyer confidence is beginning to return as the spring market approaches.

Market Activity Increased Compared to January

Victoria Real Estate Board Chair Fergus Kyne noted that February brought a noticeable improvement in activity compared to the slower start to the year.

“February’s sales definitely picked up the pace compared with sales from the previous month,” said Kyne. “Though our sales numbers are lower than they were in 2025, with an over 35 percent increase month over month and a very healthy amount of inventory currently available, it will be interesting to see how our spring market unfolds in the upcoming months.”

This increase in activity is typical for Victoria, where the market often begins accelerating in late winter before reaching peak momentum during the spring buying season.

Inventory Levels Continue to Rise

One of the most important factors shaping Victoria’s real estate market in early 2026 is the increase in available listings.

At the end of February there were 2,903 active listings on the Victoria Real Estate Board Multiple Listing Service.

This represents:

• A 10.6 percent increase compared to January 2026
• A 10.4 percent increase compared to February 2025

More available inventory gives buyers greater choice and negotiating power, while sellers benefit from increased buyer activity as the spring market begins.

Balanced Market Conditions Emerging

According to the Victoria Real Estate Board, the market currently sits close to balanced conditions.

Chair Kyne explained the significance of this shift.

“Last month we reported how the market rested on the threshold between balanced and a buyer’s market. Over the course of February, more activity led to increased sales which has helped to balance market conditions. When the market is in balance, it means excellent opportunities exist for buyers and sellers.”

Balanced markets tend to create healthier transaction environments because:

• Buyers have more options
• Sellers still benefit from steady demand
• Negotiations become more realistic
• Price volatility is reduced

For many buyers and sellers, balanced conditions create the most stable environment for making long-term decisions.

Victoria Home Prices February 2026

While sales activity and inventory levels are important indicators, benchmark prices provide additional insight into overall market trends.

Single Family Homes

The MLS Home Price Index benchmark value for a single family home in the Victoria Core was:

• $1,319,100 in February 2025
• $1,307,400 in February 2026

This represents a 0.9 percent decrease year over year, though prices increased compared to January’s benchmark value of $1,265,500.

The month-over-month increase suggests renewed stability following the slower start to the year.

Condominium Prices

Condominium benchmark values saw a similar trend.

• $549,600 in February 2025
• $545,600 in February 2026

This represents a 0.7 percent decrease year over year, though prices rose compared to January’s value of $537,800.

For many buyers, stable condominium pricing combined with higher inventory levels may create opportunities in the coming months.

What This Means for Buyers

The Victoria BC real estate market update suggests several advantages for buyers entering the market this spring.

Buyers may benefit from:

• More available inventory
• Slightly softer pricing in some segments
• Reduced competition compared to previous years
• More negotiating flexibility

Balanced conditions often allow buyers to take a more strategic approach to purchasing rather than feeling rushed into bidding wars.

What This Means for Sellers

For sellers, increased buyer activity combined with a balanced market means preparation is key.

Well-priced homes that are professionally marketed continue to attract strong interest.

Sellers should focus on:

• Accurate pricing strategy
• High-quality listing presentation
• Strategic timing before peak spring inventory

Working with an experienced local REALTOR helps ensure properties stand out as more listings enter the market.

Looking Ahead to the Spring Market

Spring is historically the most active time for Victoria real estate.

As inventory continues to rise and buyer activity increases, the coming months will provide a clearer picture of the direction of the 2026 market.

Many buyers and sellers begin preparing their strategies now so they are ready when the market accelerates.

Planning Your Next Move in Victoria

Understanding current market conditions is the first step in making a smart real estate decision.

Whether you are buying, selling, or simply watching the market, staying informed allows you to act strategically when opportunities appear.

If you are considering a move in 2026 and want to discuss current listings, pricing trends, or neighbourhood opportunities, you can contact Brad Maclaren here

Working with an experienced local advisor ensures you have the latest insights into the Victoria real estate market before making your next move.