January 2026 Greater Victoria Real Estate Market Update
January in Victoria: A Smart Start, Not a Slow One
January is often labeled as a “quiet” month in real estate—but in Greater Victoria, it’s more accurate to think of it as a strategic month. With fewer listings and fewer casual buyers, the market tends to feel more focused and intentional. For people who are serious about making a move this year, January can offer clarity without the pressure that often comes later in spring.
December 2025 Market Snapshot
The Greater Victoria market wrapped up 2025 with measured, steady activity, setting the stage for a balanced start to 2026.
367 properties sold across Greater Victoria, down 12.8% year-over-year
Condo sales: 106 units, down 21.5% year-over-year
Single-family homes: 186 sales, down just 2.6% year-over-year, showing more resilience than other segments
Inventory & Pricing
Active listings: 2,544
Down 19.3% from November
Up 11.1% year-over-year
MLS® Benchmark Prices (Victoria Core):
Single-family homes: $1,255,000 (down 4.7% year-over-year and 1.7% from November)
Condos: $549,900 (up 0.7% year-over-year, though slightly lower than November)
What’s Shaping the Market Right Now
A balanced start to the year
Inventory has increased compared to last year while buyer activity remains steady. This combination tends to favour thoughtful, well-planned decisions rather than rushed ones.
Rates as a quiet tailwind
Easing rate pressure may encourage more buyers—particularly in entry-level and condo segments—to step back into the market. At the same time, overall sales activity remains measured rather than aggressive.
A more segmented market
Different property types are behaving differently. Single-family homes are holding up better, while condos remain more price-sensitive. Pricing strategy and property-specific factors matter more than broad headlines.
What I’m Noticing Right Now
One thing I’m noticing this January is that many homeowners aren’t rushing—but they’re quietly watching. People are paying closer attention to pricing, inventory, and timing, even if they’re not ready to act yet.
That kind of behaviour usually leads to better decisions later on. Conversations that happen early—before spring pressure builds—often result in smoother outcomes, whether someone decides to move this year or simply wants to understand their options.
Bottom Line
Greater Victoria is entering 2026 in a balanced market. Inventory is higher than last year, demand remains steady, single-family prices have softened modestly, condos are more sensitive to pricing, and overall activity is building gradually—not spiking.
If you’re thinking about selling later this year, considering a move down the road, or just want a clear understanding of what your home could sell for today, having information early can make the process far less stressful.
If you’d like a personalized market assessment or simply want to talk through timing and options, I’m always happy to help—no pressure, just clear and straightforward advice.