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        <title>What's happening in and around Victoria</title>
        <link>https://www.stephenfoster.ca/blog/</link>
        <description>Victoria Real Estate Market report will be comprehensive here along with handy information on communities and local events.</description>
<item>
    <guid>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-august-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-august-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Victoria Real Estate Market Report – August 2026</title>
    <description> <![CDATA[ 
Victoria Real Estate Market Update – September 2026 | Stephen Foster






Victoria Real Estate  |  September 2026


August Delivers the Strongest Sales in Five Years — Here’s What It Means for You


August 2026 MLS® Statistics, Greater Victoria Real Estate Board  |  Analysis by Stephen Foster, REALTOR®








Total sales


591


▲ 12.6 vs Aug 2025






Active listings


3,662


▲ 1.7 vs Aug 2025






SFH benchmark (Core)


$1,301,800


▼ 1.2 vs Aug 2025






Condo benchmark (Core)


$553,600


▲ 0.9 vs Aug 2025






August brought the kind of summer market we haven’t seen in half a decade. A total of 591 properties changed hands across Greater Victoria — up 12.6 per cent from the 525 sales recorded in August 2025, and the strongest August since 2021. Single family home sales climbed 15.3 per cent year-over-year to 309 units, condos rose 15.1 per cent to 175, and active listings held relatively steady at 3,662. Benchmark prices in the Core remain essentially flat year-over-year, with single family homes off just 1.2 per cent and condos up 0.9 per cent. The market is balanced, busy, and rewarding buyers and sellers who do their homework.


On the ground, I’m seeing a market where preparation makes all the difference. Well-staged, accurately priced homes in Oak Bay and the Core are moving with confidence — some drawing multiple viewings within the first week. Meanwhile, overpriced listings continue to sit, and the gap between “sale price” and “wish price” is one of the most important conversations I’m having with clients right now. The good news? Buyers have options and time to make thoughtful decisions, and sellers who position their property correctly are being rewarded.


“The August real estate market in Greater Victoria continued to demonstrate steady momentum. Sales activity for the month was stronger than we’ve seen in five years, while inventory remained at healthy levels. These conditions continue to support our stable, balanced market. Just like in the spring, buyers continue to be selective, and homes that are well-priced and well-presented are attracting the strongest interest. The current level of inventory gives buyers time to evaluate their options, but it also means that sellers need to understand how their property compares to others on the market. Working with a REALTOR® is the best way to understand your home’s current market value and how to position your home for sale.” — Fergus Kyne, Chair, Victoria Real Estate Board


Sales Activity


August’s 591 total sales represented a 12.6 per cent jump over last August’s 525, though activity naturally eased 12.2 per cent from July’s 673 sales as summer holidays kicked in. Single family homes led the way with 309 sales (up 15.3 per cent year-over-year), while condos posted 175 sales (up 15.1 per cent). Townhouse sales came in at 63 units, down 4.5 per cent from last August’s 66. The sales-to-active-listings ratio sits comfortably in the 17–28 per cent balanced range, meaning neither buyers nor sellers hold a decisive upper hand.





Unit sales by property type — Aug 2025 vs. Jul 2026 vs. Aug 2026. Source: VREB MLS®


Inventory &amp; Market Balance


There were 3,662 active listings at the end of August — a modest 1.7 per cent increase from the 3,600 listings available a year ago, and a 4.8 per cent decrease from July’s 3,847. The seasonal draw-down is typical: fewer new listings come to market in the dog days of summer, while motivated buyers continue to absorb available inventory. At current sales rates, the market holds roughly 6.5 months of supply, firmly in balanced territory. The key takeaway is that we have neither the inventory squeeze that creates bidding wars nor the oversupply that drives steep discounts — it’s a market that rewards smart strategy from both sides of the transaction.





Active listings at month end — Aug 2025, Jul 2026, Aug 2026. Source: VREB MLS®


Benchmark Prices


In the Victoria Core, the MLS® HPI benchmark for a single family home slipped to $1,301,800 — down 1.2 per cent from $1,317,200 a year ago and off 0.7 per cent from July’s $1,311,000. Condos in the Core moved in the opposite direction, rising 0.9 per cent year-over-year to $553,600 from $548,900. The story these numbers tell is one of essential price stability: values are holding within a narrow band, giving both buyers and sellers realistic expectations.


Oak Bay’s single family benchmark sits at $1,778,000 — a slight 1.7 per cent decline from $1,808,500 a year ago but still the highest benchmark in the region by a wide margin. Across Greater Victoria, the single family benchmark is $1,163,100 (down 0.6 per cent from $1,169,900), while the Westshore benchmark nudged up 0.5 per cent to $1,031,900 from $1,027,200. The Peninsula saw a 1.9 per cent decline to $1,266,000. Condo benchmarks showed regional variation: up 3.3 per cent on the Peninsula to $630,300, but down 3.8 per cent in the Westshore to $485,400. If you’re looking at the condo market, where you buy matters enormously for value trajectory.





MLS® HPI benchmark prices by region — Aug 2025 vs. Aug 2026. Source: VREB MLS®


Where the Action Was: Sales by Municipality


Greater Victoria’s neighbourhoods don’t move as one. The table below breaks down every residential transaction recorded in August by municipality — split by property type — and grouped by area. The colour intensity on each unit count reflects relative activity: green is lower activity, red is highest.


One deliberate choice in how this data is presented: Victoria and Victoria West are reported separately, even though VREB’s Mark I table combines them. The Johnson Street Bridge is a genuine boundary for buyers — someone drawn to Vic West’s waterfront proximity, walkability, and converted industrial character is making a fundamentally different decision than a buyer focused on Victoria’s downtown condo towers or heritage neighbourhoods. The figures here are drawn from the Mark II table, which segregates the two areas.


Waterfront properties across all districts are shown as a single row, as VREB does not attribute them back to individual municipalities in their published data.








Municipality

Total units

SFD

Condo

Townhouse

Total volume

Avg / sale






Core municipalities




Victoria


81


27


51


3


$66.7M


$823K




Victoria West — west of Johnson St Bridge


10


1


9


0


$8.6M


$861K




Oak Bay


30


23


4


3


$49.9M


$1.66M




Saanich East


105


61


36


8


$112.9M


$1.08M




Saanich West


27


20


4


3


$27.6M


$1.02M




Esquimalt


14


7


6


1


$9.9M


$708K




View Royal


12


4


4


4


$9.1M


$754K




Peninsula




North Saanich


16


16


0


0


$27.1M


$1.70M




Central Saanich


17


11


4


2


$20.0M


$1.18M




Sidney


21


11


6


4


$19.7M


$939K




Westshore




Langford


87


35


30


22


$66.4M


$764K




Colwood


21


12


3


6


$19.9M


$946K




Sooke


25


24


0


1


$21.4M


$855K




Highlands


3


3


0


0


$4.0M


$1.35M




Metchosin


2


2


0


0


$4.1M


$2.04M




Other areas




Gulf Islands


16


14


1


1


$14.5M


$908K




Malahat &amp; Area


14


14


0


0


$13.0M


$929K




Waterfront — all districts




Waterfront properties — reported cross-district by VREB


47


24


17


5


$74.5M


$1.58M






Greater Victoria total (all residential)


501


285


158


58


$494.0M


$986K








Activity level: Low    High


Heat intensity based on total residential units sold. Victoria and Victoria West reported separately using VREB Mark II data. Waterfront properties reported as cross-district aggregate. Source: VREB MLS® August 2026 Statistics Package.


What This Means for Buyers and Sellers


If you’re buying


With 3,662 active listings on the market, you have genuine choice — the most inventory available in any August since the pandemic era. The balanced market means you don’t need to rush into panic offers, but the 12.6 per cent jump in sales tells you that competition is real and growing. Well-priced homes are selling. Benchmark prices remain essentially flat year-over-year (the Core single family home is down just 1.2 per cent), so waiting for a dramatic price drop isn’t a winning strategy. Focus on getting your financing locked in, know your must-haves, and be ready to act when the right property appears. At 54 days on market on average, the best homes aren’t lasting long.


If you’re selling


The strongest August sales in five years is good news, but 3,662 listings mean your home is competing for attention. Homes that are well-priced and well-presented — as VREB Chair Kyne emphasized — are the ones attracting serious buyers. The sell-to-list price ratio for single family residential sits at 97 per cent, meaning buyers are negotiating but not dramatically discounting. Pricing accurately from day one is more important than ever: overpriced homes in this market don’t generate the urgency they might in a seller’s market, and every day on market can erode buyer confidence. If your home has been sitting, it’s time for a serious pricing conversation.


The waterfront and Oak Bay micro-market


Oak Bay recorded 30 residential sales in August across 23 single family homes, 4 condos, and 3 townhouses, generating $49.9 million in total volume and an average sale price of $1.66 million. The single family benchmark for Oak Bay sits at $1,778,000 — a reflection of the enduring premium buyers place on the municipality’s established neighbourhoods, mature landscapes, and proximity to the ocean. Meanwhile, 47 waterfront properties sold region-wide at an average of $1.58 million and a combined volume of $74.5 million. The waterfront segment remains one of the most active I’ve seen: 23 waterfront single family homes sold this month (up 21 per cent from last August), with days on market dropping to 63 from 105 last year. If you own waterfront property and have been considering a move, the demand signal is clear.



 





What’s your home worth in this market?


Every property and neighbourhood tells a different story. I’ve been working the Oak Bay and Greater Victoria market for over 20 years — let’s talk through what these numbers mean for your specific situation.

Call 250-889-7862


Statistics are sourced from the Victoria Real Estate Board MLS® and are believed to be accurate but are not guaranteed. The MLS® Home Price Index benchmark is produced by the Canadian Real Estate Association. Victoria and Victoria West figures are derived from the VREB Mark II Statistics Package. This report is prepared by Stephen Foster, REALTOR®, Stephen Foster Personal Real Estate Corporation, brokered by Coldwell Banker Oceanside Real Estate. Not intended to solicit properties currently listed for sale.




 ]]> </description>
    <pubDate>Tue, 08 Sep 2026 08:14:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-july-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-july-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Victoria Real Estate Market Report – July 2026</title>
    <description> <![CDATA[ 
Victoria Real Estate Market Update – August 2026 | Stephen Foster






Victoria Real Estate  |  August 2026


Plenty of Choice, Steady Sales — July’s Market Rewarded Patient Buyers


July 2026 MLS® Statistics, Greater Victoria Real Estate Board  |  Analysis by Stephen Foster, REALTOR®









Watch the full July 2026 breakdown — sales, inventory, and benchmark prices across Greater Victoria.



 
 





Total sales


673


▼ 1.0 vs Jul 2025






Active listings


3,847


▲ 3.9 vs Jul 2025






SFH benchmark (Core)


$1,311,000


▼ 2.8 vs Jul 2025






Condo benchmark (Core)


$548,600


▼ 2.2 vs Jul 2025






July finished just a hair below last year’s pace — 673 sales versus 680 in July 2025, a difference of just 1 per cent — but the story beneath the headline is more nuanced. Single-family home sales actually climbed 4.1 per cent year over year, with 331 transactions, while condos fell 7.1 per cent to 209 units and townhomes dipped 15.5 per cent to 82. As the VREB Chair noted, we ended the month above the five-year average for July sales, which tells me buyer activity is healthy — it’s the composition that’s shifting.


What I’m seeing on the ground — particularly in Oak Bay and across the Core — is that buyers are taking their time. With 3,847 active listings to browse, there’s no panic to make snap decisions. Well-priced, well-presented homes are still selling within reasonable timeframes, but anything that looks tired or overpriced is simply being passed over. Sellers who invest in presentation and realistic pricing are the ones celebrating. It’s a market that rewards preparation on both sides of the transaction.


“It was a solid month for sales. We ended the month above the five-year average for number of sales in a July. What’s different about this market is the availability of inventory, and how the generous number of homes for sale impact both the seller and buyer experience. Buyers are taking more time to make decisions because of all the options available. Some buyers may even feel overwhelmed as they navigate a market with so much choice. If you’re shopping for homes right now, your REALTOR® can help explore the properties that have the best current and future potential, identify where smart compromises may be made, and focus on what features matter the most.” — Fergus Kyne, Chair, Victoria Real Estate Board


Sales Activity


The 673 total sales in July were 6.4 per cent fewer than June’s 719 transactions — a seasonal dip that’s completely normal as summer holidays pull some buyers out of the market. Year over year, the 1 per cent decline is essentially flat. The real divergence is between property types: single-family homes posted 331 sales (up from 318 a year ago), suggesting that detached housing demand remains robust, especially for move-up buyers. Condos at 209 sales were down from 225 last July, and townhomes fell to 82 from 97. The condo softness is consistent with what I’ve been noting for several months — elevated inventory in that segment, particularly in newer downtown towers, is giving buyers significant negotiating leverage.





Unit sales by property type — Jul 2025 vs. Jun 2026 vs. Jul 2026. Source: VREB MLS®


Inventory &amp; Market Balance


Active listings closed July at 3,847 — up 3.9 per cent from the 3,703 listings available at the end of July 2025, but down 5.1 per cent from June 2026’s 4,054. That month-over-month decline is typical as some summer listings expire or are withdrawn, and fewer new listings come to market during peak vacation weeks. The sales-to-active-listings ratio sits around 17 per cent, right at the threshold between a buyer’s market and balanced territory. For sellers, this means pricing strategy and presentation matter enormously — you’re competing with far more listings than even a year ago. For buyers, the leverage you have today may not last forever, especially if inventory tightens heading into fall.





Active listings at month end — Jul 2025, Jun 2026, Jul 2026. Source: VREB MLS®


Benchmark Prices


The MLS® HPI benchmark for a single-family home in the Victoria Core eased to $1,311,000 in July — down 2.8 per cent from $1,348,400 a year ago and slipping from June’s $1,326,500. Core condos followed a similar trajectory, declining 2.2 per cent year over year to $548,600 from $561,200. These are modest, orderly declines — not a correction — and they reflect the inventory-rich environment we’re in. Across Greater Victoria, the single-family benchmark sits at $1,170,200 (down 1.6 per cent from last July), confirming the softening is broad-based rather than concentrated in one pocket.


Regionally, the Westshore benchmark for a single-family home held up relatively well at $1,034,200 (down just 0.3 per cent from $1,037,500 a year ago), while the Peninsula slipped 1.1 per cent to $1,275,100. Oak Bay remains its own micro-market — the benchmark there continues to hover well above the Core average, reflecting the enduring premium that buyers place on the neighbourhood’s character, schools, and waterfront proximity. Condo benchmarks showed similar patterns: Greater Victoria at $544,400 (down 2.1 per cent), Westshore at $493,600 (down 1.8 per cent), and the Peninsula actually rising 1.2 per cent to $618,900.





MLS® HPI benchmark prices by region — Jul 2025 vs. Jul 2026. Source: VREB MLS®


Where the Action Was: Sales by Municipality


Greater Victoria’s neighbourhoods don’t move as one. The table below breaks down every residential transaction recorded in July by municipality — split by property type — and grouped by area. The colour intensity on each unit count reflects relative activity: green is lower activity, red is highest.


One deliberate choice in how this data is presented: Victoria and Victoria West are reported separately, even though VREB’s Mark I table combines them. The Johnson Street Bridge is a genuine boundary for buyers — someone drawn to Vic West’s waterfront proximity, walkability, and converted industrial character is making a fundamentally different decision than a buyer focused on Victoria’s downtown condo towers or heritage neighbourhoods. The figures here are drawn from the Mark II table, which segregates the two areas.


Waterfront properties across all districts are shown as a single row, as VREB does not attribute them back to individual municipalities in their published data.








Municipality

Total units

SFD

Condo

Townhouse

Total volume

Avg / sale






Core municipalities




Victoria


109


23


78


8


$76.7M


$704K




Victoria West — west of Johnson St Bridge


25


5


16


4


$14.9M


$594K




Oak Bay


37


27


7


3


$50.0M


$1.35M




Saanich East


94


52


28


14


$95.3M


$1.01M




Saanich West


59


32


18


9


$50.2M


$850K




Esquimalt


29


10


14


5


$19.7M


$680K




View Royal


17


8


5


4


$13.1M


$770K




Peninsula




North Saanich


17


14


2


1


$19.9M


$1.17M




Central Saanich


27


18


4


5


$26.7M


$990K




Sidney


26


8


15


3


$17.9M


$690K




Westshore




Langford


96


48


30


18


$72.5M


$755K




Colwood


24


11


6


7


$19.0M


$790K




Sooke


33


25


3


5


$25.4M


$770K




Highlands


3


3


0


0


$3.5M


$1.18M




Metchosin


5


5


0


0


$6.3M


$1.25M




Other areas




Gulf Islands


13


12


1


0


$12.5M


$960K




Malahat &amp; Area


6


6


0


0


$4.9M


$820K




Waterfront — all districts




Waterfront properties — reported cross-district by VREB


7


4


2


1


$11.6M


$1.65M






Greater Victoria total (all residential)


659


307


227


86


$528.5M


$802K








Activity level: Low    High


Heat intensity based on total residential units sold. Victoria and Victoria West reported separately using VREB Mark II data. Waterfront properties reported as cross-district aggregate. Source: VREB MLS® July 2026 Statistics Package.


What This Means for Buyers and Sellers


If you’re buying


This is a market built for you. With 3,847 active listings — nearly 4 per cent more than a year ago — and benchmark prices easing across every major region, you have time, choice, and negotiating room. Single-family homes in the Core are benchmarking at $1,311,000, down $37,400 from last July. Condos are even more favourable, with the Core benchmark at $548,600 and inventory stacking up. Don’t let the abundance paralyse you, though. Work with your REALTOR® to narrow your search, understand micro-market differences (a condo in Sidney at $618,900 benchmark is a very different proposition than one in the Westshore at $493,600), and put forward confident, well-informed offers.


If you’re selling


You’re competing with roughly 5.7 months of inventory at current sales rates — that’s firmly in buyer-friendly territory. The data is clear: homes that are priced right from day one and presented beautifully are still moving. The 331 single-family sales in July prove that demand exists. But overpricing by even 3–5 per cent in a market where benchmarks are softening will cost you weeks on market and likely a lower eventual sale price. Invest in staging, address deferred maintenance, and trust the data. Chair Kyne put it well: “Sometimes simple things, like ensuring all maintenance is up to date, and that your home is presented beautifully, can be the difference in competitive markets.”


The waterfront and Oak Bay micro-market


Oak Bay recorded 37 sales in July — 27 of them single-family homes — generating $50.0 million in total volume and an average sale price of $1.35 million. That average reflects Oak Bay’s enduring appeal: tree-lined streets, top-ranked schools, and some of the most desirable waterfront in the region. Across all districts, 7 waterfront properties changed hands for a combined $11.6 million, averaging $1.65 million per sale. Waterfront remains a distinct market with its own dynamics — limited supply, emotional pricing, and buyers who are often willing to wait for the right property. If you’re considering a move in Oak Bay or along the waterfront, I’d welcome a conversation about how these numbers apply to your specific property or search.


 





What’s your home worth in this market?


Every property and neighbourhood tells a different story. I’ve been working the Oak Bay and Greater Victoria market for over 20 years — let’s talk through what these numbers mean for your specific situation.

Call 250-889-7862


Statistics are sourced from the Victoria Real Estate Board MLS® and are believed to be accurate but are not guaranteed. The MLS® Home Price Index benchmark is produced by the Canadian Real Estate Association. Victoria and Victoria West figures are derived from the VREB Mark II Statistics Package. This report is prepared by Stephen Foster, REALTOR®, Stephen Foster Personal Real Estate Corporation, brokered by Coldwell Banker Oceanside Real Estate. Not intended to solicit properties currently listed for sale.




 ]]> </description>
    <pubDate>Wed, 05 Aug 2026 17:05:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.stephenfoster.ca/blog/inside-a-130-year-old-heritage-renovation-what-it-actually-takes-to-restore-a-victoria-character-home.html</guid>
    <link>https://www.stephenfoster.ca/blog/inside-a-130-year-old-heritage-renovation-what-it-actually-takes-to-restore-a-victoria-character-home.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Inside a 130-Year-Old Heritage Renovation: What It Actually Takes to Restore a Victoria Character Home</title>
    <description> <![CDATA[ 
Inside a 130-Year-Old Heritage Renovation: What It Actually Takes to Restore a Victoria Character Home


 


I recently had someone reach out asking if I could help them as a &quot;heritage home expert&quot; — and it reminded me I've never properly shared one of my favourite projects on this site: a full renovation of a heritage-designated home built in the late 1800s, filmed start to finish.


 


The home had passed through several interior updates over 130 years, but the new owners — both fans of the era — wanted to do something different: work with the Heritage Board and a heritage-experienced contractor to restore the craftsmanship the house was originally built with, rather than strip it away. I followed the project in three parts, from the first Heritage Board conversation through to move-in day.


 

 

Part 1: Meeting the Heritage Board



 

 

Heritage renovation in Victoria BC ( Part 1 of 3) | 130 Years in130 days

Watch on YouTube


 

 


We start as a fly on the wall with one of the Heritage Board members and the contractor, walking through what's actually protected on a heritage-designated property in Victoria, and what has to be respected before a single wall comes down.


Part 2: Stripped to the Essentials



 

 

Heritage house renovation in Victoria BC | 130 Years in 130 Days | Part 2

Watch on YouTube


 

 


Midway through, the home is stripped back to its bones — but every heritage element worth keeping is protected and preserved. This is the part of a heritage reno where the real decisions get made: what stays, what's restored, and what's rebuilt to match.


Part 3: The Finished Home



 

 

Heritage house renovation in Victoria BC | 130 Years in 130 Days | Final

Watch on YouTube


 

 


The final walkthrough, with all the heritage character intact and the new owners moved in. It's the payoff for a lot of careful, permit-conscious work — and a good look at what's possible when a heritage home is renovated with the era in mind instead of against it.


Thinking About Buying or Renovating a Heritage Home in Victoria?


Heritage-designated homes come with real rules — Heritage Board approval, permit requirements, and restrictions on what can and can't change — but they also come with character you simply can't build new. If you're considering buying, selling, or renovating a heritage or character property in Victoria, I'd be glad to walk you through what's involved.


 


You can browse current character homes for sale in Victoria here, or reach out directly — I'm always happy to talk heritage homes.


 

 ]]> </description>
    <pubDate>Thu, 23 Jul 2026 16:00:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-june-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-june-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Victoria Real Estate Market Report – June 2026</title>
    <description> <![CDATA[ 
Victoria Real Estate Market Update – June 2026 | Stephen Foster






Victoria Real Estate  |  June 2026


Buyers Have the Wheel: More Choice, Softer Prices, and a Market That Rewards Patience


June 2026 MLS® Statistics, Greater Victoria Real Estate Board  |  Analysis by Stephen Foster, REALTOR®








Total sales


719


▼ 5.5 vs Jun 2025






Active listings


4,054


▲ 7.3 vs Jun 2025






SFH benchmark (Core)


$1,326,500


▼ 0.6 vs Jun 2025






Condo benchmark (Core)


$549,200


▼ 1.9 vs Jun 2025






June is traditionally one of the busiest months in real estate, and while we did see 719 total sales across Greater Victoria, the pace has clearly moderated compared to last year. That total is 5.5 per cent below the 761 sales recorded in June 2025, though it edges just slightly above May’s 713. The story of this market continues to be one of choice: with 4,054 active listings at month end — up 7.3 per cent year-over-year — buyers are in no rush and are shopping carefully. Benchmark prices for both single family homes and condos in the Victoria Core drifted lower, down 0.6 per cent and 1.9 per cent respectively from a year ago.


On the ground, I’m seeing well-prepared homes in desirable locations still attract strong interest and multiple viewings, but the days of unconditional offers within hours of listing are firmly behind us. In Oak Bay and along the waterfront, quality and presentation matter more than ever. Properties that are priced right and show well are moving; the rest are sitting. Sellers who invest in staging and accurate pricing are the ones getting results. For buyers, this is the most favourable negotiating environment in years.


“The second quarter of 2026 continues the trend we’ve been reporting over the past months as inventory levels have gradually increased and created more choice for consumers. Our market remains active and balanced, but we’re no longer operating in the low-inventory environment that drove intense competition and pressure on pricing during the pandemic years. Today’s buyers have more options and more time to make informed decisions.” — Fergus Kyne, Chair, Victoria Real Estate Board


Sales Activity


A total of 719 properties sold in June, down 5.5 per cent from June 2025’s 761 and up a hair from May 2026’s 713. The property-type breakdown tells an interesting story: single family home sales of 388 were off only 3.5 per cent year-over-year, while condo sales of 182 plunged 26.9 per cent from last June’s 249. Townhouse sales, by contrast, surged 25.3 per cent to 94 from just 75 a year ago. The condo slowdown is the headline — with inventory up 12 per cent in that segment and new purpose-built rentals entering the market, condo buyers are taking their time. Townhouses, meanwhile, continue to benefit from the “missing middle” supply gap: demand is strong and new product is limited.





Unit sales by property type — Jun 2025 vs. May 2026 vs. Jun 2026. Source: VREB MLS®


Inventory &amp; Market Balance


Active listings ended June at 4,054 — up 0.6 per cent from May’s 4,029 and 7.3 per cent above the 3,778 listings on the market a year ago. That’s the highest June inventory figure we’ve seen in several years, and it’s fundamentally shifting the dynamic between buyers and sellers. At a sales-to-active-listings ratio sitting in the 17–28 per cent balanced range, the BCREA would call this a balanced market — but the trajectory is clearly favouring buyers. Months of inventory continue to creep up, giving purchasers the luxury of comparison shopping and the confidence to include subject conditions. For sellers, this means your property isn’t just competing with a handful of similar listings — it may be competing with dozens.





Active listings at month end — Jun 2025, May 2026, Jun 2026. Source: VREB MLS®


Benchmark Prices


The MLS® Home Price Index benchmark for a single family home in the Victoria Core slipped to $1,326,500 in June — down 0.6 per cent from last June’s $1,334,500 and down from May’s $1,339,000. Core condos saw a steeper decline: the benchmark fell 1.9 per cent year-over-year to $549,200 from $559,900, easing from May’s $551,400. The condo correction reflects the combination of rising inventory and new rental supply that’s giving buyers alternatives. Townhouses across the region saw their Core benchmark at $841,200 — essentially flat year-over-year — a testament to continuing strong demand for that middle-market product.


In Oak Bay, the single family benchmark stands at $1,846,800 — essentially unchanged from a year ago and reflecting the enduring premium that buyers place on the municipality’s character homes, school catchments, and proximity to the waterfront. Across the broader region, Greater Victoria’s single family benchmark sits at $1,174,100 (down 0.5 per cent year-over-year), while Westshore comes in at $1,023,400 (down 1.8 per cent) — still offering one of the most affordable single family entry points in the core Capital Region. On the Peninsula, single family benchmarks rose 1.3 per cent to $1,282,000, bucking the regional trend.





MLS® HPI benchmark prices by region — Jun 2025 vs. Jun 2026. Source: VREB MLS®


Where the Action Was: Sales by Municipality


Greater Victoria’s neighbourhoods don’t move as one. The table below breaks down every residential transaction recorded in June by municipality — split by property type — and grouped by area. The colour intensity on each unit count reflects relative activity: green is lower activity, red is highest.


One deliberate choice in how this data is presented: Victoria and Victoria West are reported separately, even though VREB’s Mark I table combines them. The Johnson Street Bridge is a genuine boundary for buyers — someone drawn to Vic West’s waterfront proximity, walkability, and converted industrial character is making a fundamentally different decision than a buyer focused on Victoria’s downtown condo towers or heritage neighbourhoods. The figures here are drawn from the Mark II table, which segregates the two areas.


Waterfront properties across all districts are shown as a single row, as VREB does not attribute them back to individual municipalities in their published data.








Municipality

Total units

SFD

Condo

Townhouse

Total volume

Avg / sale






Core municipalities




Victoria


112


32


71


9


$91.7M


$819K




Victoria West — west of Johnson St Bridge


13


4


8


1


$10.3M


$790K




Oak Bay


29


23


2


4


$54.6M


$1.88M




Saanich East


112


77


24


11


$123.9M


$1.11M




Saanich West


51


30


11


10


$47.4M


$930K




Esquimalt


21


11


6


4


$19.4M


$923K




View Royal


17


10


4


3


$13.5M


$795K




Peninsula




North Saanich


14


13


0


1


$21.5M


$1.54M




Central Saanich


27


23


2


2


$33.2M


$1.23M




Sidney


30


13


11


6


$26.3M


$878K




Westshore




Langford


92


43


25


24


$79.4M


$863K




Colwood


33


19


4


10


$31.2M


$947K




Sooke


27


25


0


2


$21.2M


$784K




Highlands


3


3


0


0


$3.4M


$1.12M




Metchosin


2


2


0


0


$2.4M


$1.18M




Other areas




Gulf Islands


22


21


0


1


$22.8M


$1.03M




Malahat &amp; Area


17


17


0


0


$19.5M


$1.15M




Waterfront — all districts




Waterfront properties — reported cross-district by VREB


42


22


14


6


$63.4M


$1.51M






Greater Victoria total (all residential)


622


343


168


88


$621.3M


$999K








Activity level: Low    High


Heat intensity based on total residential units sold. Victoria and Victoria West reported separately using VREB Mark II data. Waterfront properties reported as cross-district aggregate. Source: VREB MLS® June 2026 Statistics Package.


What This Means for Buyers and Sellers


If you’re buying


This is the strongest buyer environment since before the pandemic. With 4,054 active listings and sales down 5.5 per cent year-over-year, you have time and leverage. Condo buyers in particular will find the most options — inventory in that segment is up 12 per cent from last year, and the benchmark is down nearly 2 per cent. Use subject conditions, get your inspections done, and compare properties carefully. Townhouses remain the most competitive segment with a 25 per cent jump in sales, so if you’re targeting that category, be prepared to move a little more quickly. In every case, working with a REALTOR® who knows the neighbourhood-level dynamics will save you money and stress.


If you’re selling


Preparation has never been more important. With inventory at 4,054 listings — levels we haven’t seen in several years — your home is competing with a deeper pool of alternatives. Properties that are accurately priced from day one, well staged, and professionally marketed are still selling within a reasonable timeframe. But overpriced listings are languishing. The average days-on-market for single family residential sits at 36 days. If your home has been on the market longer than that without meaningful interest, it may be time for a pricing conversation. Remember: the benchmark for a Core single family home has slipped from $1,339,000 in May to $1,326,500 in June. The market is telling us what it will pay.


The waterfront and Oak Bay micro-market


Waterfront properties across all districts saw 42 transactions in June, generating $63.4 million in total volume and averaging $1.51 million per sale. That average reflects a broad range — from waterfront condos to oceanfront estates — but the volume confirms continued appetite for Victoria’s signature lifestyle. In Oak Bay, 29 properties changed hands, overwhelmingly single family (23 of 29), at an average of $1.88 million per sale. The Oak Bay single family benchmark of $1,846,800 remains the highest in the VREB region, reflecting the premium buyers attach to the village character, heritage homes, and walkable schools that define this community. If you’re considering a move in this micro-market, hyperlocal knowledge makes all the difference — I’d love to walk you through what’s happening on your specific street.



Watch This Month’s Market Update


I break down the June numbers in detail in this month’s video — including what I’m seeing on the ground in Oak Bay and across Greater Victoria’s waterfront market.





What’s your home worth in this market?


Every property and neighbourhood tells a different story. I’ve been working the Oak Bay and Greater Victoria market for over 20 years — let’s talk through what these numbers mean for your specific situation.

Call 250-889-7862


Statistics are sourced from the Victoria Real Estate Board MLS® and are believed to be accurate but are not guaranteed. The MLS® Home Price Index benchmark is produced by the Canadian Real Estate Association. Victoria and Victoria West figures are derived from the VREB Mark II Statistics Package. This report is prepared by Stephen Foster, REALTOR®, Stephen Foster Personal Real Estate Corporation, brokered by Coldwell Banker Oceanside Real Estate. Not intended to solicit properties currently listed for sale.




 ]]> </description>
    <pubDate>Fri, 03 Jul 2026 09:49:00 -0700</pubDate>
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<item>
    <guid>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-may-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-may-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Victoria Real Estate Market Report – May 2026</title>
    <description> <![CDATA[ 
Victoria Market Update - June 2026.html 1 100


Victoria Real Estate Market Update – June 2026 | Stephen Foster






Victoria Real Estate  |  June 2026


Spring Has Sprung — and So Has Inventory: What Record Supply Means for You


May 2026 MLS® Statistics, Greater Victoria Real Estate Board  |  Analysis by Stephen Foster, REALTOR®








Total sales


713


▼ 5.9 vs May 2025






Active listings


4,029


▲ 8.4 vs May 2025






SFH benchmark (Core)


$1,339,000


▲ 0.3 vs May 2025






Condo benchmark (Core)


$551,400


▼ 1.9 vs May 2025






May brought the spring market everyone was waiting for — but it arrived on buyers’ terms. A total of 713 properties sold across Greater Victoria, down 5.9 from the 758 that traded hands a year ago, yet up a healthy 10.9 from April’s 643 sales. The headline story? Active listings hit 4,029 at month-end, the most inventory on the MLS® in eleven years. That supply-side shift is giving buyers breathing room they haven’t had in over a decade.


On the ground in Oak Bay and the Core, I’m seeing exactly what the data suggests: well-prepared buyers are taking their time, touring multiple homes, and negotiating with more leverage. Meanwhile, sellers who price accurately from day one are still getting strong results — while those who test the market with aspirational pricing are sitting. The gap between the two outcomes is wider than I’ve seen in a long time.


“There’s no more waiting – the spring market is here. With the most inventory for sale that our market has had in eleven years, we’re seeing buyers take advantage of the many homes to choose from. Buyer expectations around pricing and features have changed with market conditions and they have more time to make decisions and are viewing more properties. To meet buyer demands, motivated sellers need to enter the market with competitive pricing and an understanding of their property’s value in the current environment.” — Fergus Kyne, Chair, Victoria Real Estate Board


Sales Activity


Single family homes accounted for 385 sales in May, down 4 from the 401 that sold last May. Condos saw a sharper pullback: 188 units changed hands, a 14.9 decline from the 221 condo sales in May 2025. The townhouse segment moved in the opposite direction with 98 sales, up 8.9 year-over-year from 90. The condo market feels the weight of new inventory most directly — condo active listings are up 12 year-over-year and the sell-list ratio has dropped to 36 from 46 last May. Townhouses, by contrast, remain relatively tight with strong buyer interest, particularly in the Westshore where new-build product continues to attract young families.





Unit sales by property type — May 2025 vs. Apr 2026 vs. May 2026. Source: VREB MLS®


Inventory &amp; Market Balance


Active listings climbed to 4,029 at the end of May, up 8.6 from the 3,710 available in April and 8.4 higher than the 3,716 on the market at the end of May 2025. With 690 residential sales against that inventory, the sales-to-active-listings ratio sits at roughly 17 — right at the threshold between a balanced market and a buyers’ market according to the BC Real Estate Association’s framework. For context, that ratio was running well above 20 for most of 2024. The shift is real: buyers now have nearly six months of supply in several property types, which means negotiation leverage has moved meaningfully in their direction.





Active listings at month end — May 2025, Apr 2026, May 2026. Source: VREB MLS®


Benchmark Prices


In the Victoria Core, the MLS® HPI benchmark for a single family home edged up 0.3 year-over-year to $1,339,000 from $1,335,500 — essentially flat. On a month-over-month basis it ticked down $100 from April’s $1,339,100. Core condo benchmarks fell more noticeably: down 1.9 to $551,400 from $562,100 a year ago, and down from April’s $558,300. The townhouse benchmark in the Core held at $836,800, down from last May’s $853,000. Overall, prices are stable to slightly softening — which is exactly what you’d expect with inventory at an 11-year high and a sales-to-listings ratio near the balanced-market boundary.


In Oak Bay, the single family benchmark sits at $1,857,900 — the highest of any sub-area on the board and up from $1,852,500 a year ago. Demand for character homes on larger lots in this neighbourhood remains remarkably resilient. Across the broader region, Greater Victoria’s single family benchmark is $1,181,700 (virtually flat year-over-year from $1,181,300), while the Westshore came in at $1,028,100, down 2.8 from $1,057,700 last May — reflecting the price sensitivity in that more first-time-buyer-heavy market. The Peninsula single family benchmark rose 4.3 to $1,292,000, making it the strongest-performing sub-region for detached homes.





MLS® HPI benchmark prices by region — May 2025 vs. May 2026. Source: VREB MLS®


Where the Action Was: Sales by Municipality


Greater Victoria's neighbourhoods don't move as one. The table below breaks down every residential transaction recorded in May by municipality — split by property type — and grouped by area. The colour intensity on each unit count reflects relative activity: green is lower activity, red is highest.


One deliberate choice in how this data is presented: Victoria and Victoria West are reported separately, even though VREB's Mark I table combines them. The Johnson Street Bridge is a genuine boundary for buyers — someone drawn to Vic West's waterfront proximity, walkability, and converted industrial character is making a fundamentally different decision than a buyer focused on Victoria's downtown condo towers or heritage neighbourhoods. The figures here are drawn from the Mark II table, which segregates the two areas.


Waterfront properties across all districts are shown as a single row, as VREB does not attribute them back to individual municipalities in their published data.








Municipality

Total units

SFD

Condo

Townhouse

Total volume

Avg / sale






Core municipalities




Victoria


102


27


62


13


$77.5M


$759K




Victoria West — west of Johnson St Bridge


14


6


8


0


$12.6M


$902K




Oak Bay


29


20


5


4


$52.6M


$1.82M




Saanich East


121


77


29


15


$148.3M


$1.23M




Saanich West


56


32


8


16


$53.1M


$949K




Esquimalt


21


11


6


4


$18.2M


$868K




View Royal


18


7


4


4


$14.0M


$780K




Peninsula




North Saanich


23


22


0


1


$35.9M


$1.56M




Central Saanich


29


19


2


2


$32.4M


$1.12M




Sidney


35


11


16


6


$30.1M


$861K




Westshore




Langford


92


38


35


15


$76.4M


$830K




Colwood


33


21


2


10


$33.9M


$1.03M




Sooke


28


24


0


2


$21.9M


$783K




Highlands


1


1


0


0


$1.3M


$1.32M




Metchosin


4


4


0


0


$5.7M


$1.43M




Other areas




Gulf Islands


20


18


0


2


$18.2M


$912K




Malahat &amp; Area


25


24


0


0


$24.5M


$981K




Waterfront — all districts




Waterfront properties — reported cross-district by VREB


39


23


11


4


$67.0M


$1.72M






Greater Victoria total (all residential)


651


362


177


94


$656.1M


$1.01M








Activity level: Low    High


Heat intensity based on total residential units sold. Victoria and Victoria West reported separately using VREB Mark II data. Waterfront properties reported as cross-district aggregate. Source: VREB MLS® May 2026 Statistics Package.


What This Means for Buyers and Sellers


If you're buying


This is the most favourable buying environment we’ve seen since 2015. With 4,029 active listings to choose from, you have genuine selection — and the data backs up the shift in leverage. The sales-to-active-listings ratio at roughly 17 puts us right at the edge of a buyers’ market. Condos in particular are offering value: the Core benchmark has dropped 1.9 year-over-year and days on market have crept up. Take your time, view broadly, and negotiate confidently — but don’t mistake patience for passivity. Well-priced homes in desirable locations, especially single family homes in Saanich East (121 sales this month) and Langford (92 sales), are still moving at a solid pace.


If you're selling


Pricing strategy is everything right now. The 11-year inventory high means your home is competing against more alternatives than at any point in recent memory. Sellers who entered the market in May with competitive pricing saw results — the overall sell-to-list ratio remains at 97, meaning well-positioned homes are selling near asking. But overpriced listings are languishing: days on market have climbed to 42 from 38 a year ago. Work closely with your REALTOR® to benchmark against recent comparable sales, not aspirational pricing. A clean, well-staged home priced at fair market value will still attract buyers in this environment.


The waterfront and Oak Bay micro-market


Waterfront properties across all districts accounted for 39 sales totalling $67.0M in May — an average of $1.72M per transaction. This is a market that operates by its own rules: inventory is limited, emotional value is high, and buyer pools are often international or interprovincial. In Oak Bay specifically, 29 residential transactions closed for a combined $52.6M, with an average sale price of $1.82M. The Oak Bay single family benchmark of $1,857,900 continues to outpace every other sub-area on the Board, reflecting persistent demand for the neighbourhood’s character homes, walkable village, and ocean-adjacent lifestyle. If you own waterfront or Oak Bay property and have been contemplating a move, this remains one of the segments where seller positioning is strongest.





What's your home worth in this market?


Every property and neighbourhood tells a different story. I've been working the Oak Bay and Greater Victoria market for over 20 years — let's talk through what these numbers mean for your specific situation.

Call 250-889-7862


Statistics are sourced from the Victoria Real Estate Board MLS® and are believed to be accurate but are not guaranteed. The MLS® Home Price Index benchmark is produced by the Canadian Real Estate Association. Victoria and Victoria West figures are derived from the VREB Mark II Statistics Package. This report is prepared by Stephen Foster, REALTOR®, Stephen Foster Personal Real Estate Corporation, brokered by Coldwell Banker Oceanside Real Estate. Not intended to solicit properties currently listed for sale.



 ]]> </description>
    <pubDate>Tue, 02 Jun 2026 07:35:00 -0700</pubDate>
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    <guid>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-april-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/victoria-real-estate-market-report-april-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Victoria Real Estate Market Report – April 2026</title>
    <description> <![CDATA[ 
Victoria Market Update - May 2026.html









Victoria Real Estate Market Update – May 2026 | Stephen Foster






Victoria Real Estate  |  May 2026


A Goldilocks Spring: Victoria's Market Finds Its Balance


April 2026 MLS® Statistics, Greater Victoria Real Estate Board  |  Analysis by Stephen Foster, REALTOR®








Total sales


643


▲ 0.2 vs Apr 2025






Active listings


3,710


▲ 8.3 vs Apr 2025






SFH benchmark (Core)


$1,339,100


▼ 1.2 vs Apr 2025






Condo benchmark (Core)


$558,300


▼ 0.8 vs Apr 2025






April delivered exactly what the spring market needed: steady activity, growing inventory, and prices holding firm without the pressure we saw during the frenetic years of 2021-2022. A total of 643 properties changed hands across Greater Victoria last month — virtually identical to the 642 sales we recorded in April 2025, and up 11.1 from March's 579 transactions. This is a market that's functioning, not lurching.


What I'm seeing on the ground matches the numbers. Buyers are out in force at open houses, particularly for well-priced properties in the $900K to $1.4M range. But they're also discerning — overpriced listings are sitting, while realistic sellers are finding qualified buyers within reasonable timeframes. The 3,710 active listings give buyers genuine choice without overwhelming the market into distress territory.


&quot;The overall market in Greater Victoria continues to remain in balance. Inventory levels are staying strong, and new listings coming onto market in recent weeks will help serve our traditionally busy spring season. The collective track record from the past several months of balance and stability in our market is likely underpinning the confidence of buyers and sellers this season. Current not-too-hot and not-too-cold conditions are setting the stage for a very reasonable spring market for consumers. It's a Goldilocks real estate market leading into our busier months – and there is choice, inventory is diverse, there is a wide range of properties at different price points, and interest by buyers is also brisk. Of course, your experience can vary depending on where and what type of property you seek in our area, which consists of many different micro-markets. If you're considering a move this spring season, it's a great time to connect with your favourite local REALTOR® to weigh your options.&quot; — Fergus Kyne, Chair, Victoria Real Estate Board


Sales Activity


The property-type breakdown tells an interesting story this April. Single family homes recorded 331 sales, down 1.2 from last year's 335 — essentially flat. Condominiums showed more life with 198 sales, a 5.9 increase over April 2025's 187 units. Townhouses came in at 78 sales, down modestly from 79 last year. The condo strength suggests first-time buyers and downsizers remain active, taking advantage of the more accessible price points in that segment. Meanwhile, the single family market is seeing more considered decision-making from buyers who have genuine options to compare.





Unit sales by property type — Apr 2025 vs. Mar 2026 vs. Apr 2026. Source: VREB MLS®


Inventory &amp; Market Balance


Inventory continues its healthy climb. The 3,710 active listings at month-end represent a 13.8 jump from March's 3,261 and an 8.3 increase from the 3,425 listings we had in April 2025. This is precisely the inventory growth the market needed to cool the competitive dynamics that were pricing out many buyers. The sales-to-active-listings ratio remains comfortably in balanced territory — not so low that sellers panic, not so high that buyers feel desperate. Homes are selling, but buyers have time to do their due diligence.





Active listings at month end — Apr 2025, Mar 2026, Apr 2026. Source: VREB MLS®


Benchmark Prices


The MLS® Home Price Index tells a story of modest softening. The benchmark single family home in the Victoria Core now sits at $1,339,100, down 1.2 from $1,354,800 in April 2025 but up from March's $1,330,200 — suggesting we may have found a floor. Condos in the Core benchmark at $558,300, down 0.8 year-over-year from $562,900. These are not dramatic corrections; they're the kind of measured price adjustments that keep markets healthy and accessible.


Regional variation remains significant. Oak Bay continues commanding premium prices with a single family benchmark of $1,872,500 — reflecting the enduring appeal of the municipality's character homes, excellent schools, and village atmosphere. The Westshore offers compelling value with single family homes benchmarking at $1,029,500 (down 3.8 year-over-year), while Peninsula communities appeal to buyers seeking space and a slightly slower pace with benchmarks at $1,275,300.





MLS® HPI benchmark prices by region — Apr 2025 vs. Apr 2026. Source: VREB MLS®


Where the Action Was: Sales by Municipality


Greater Victoria's neighbourhoods don't move as one. The table below breaks down every residential transaction recorded in April by municipality — split by property type — and grouped by area. The colour intensity on each unit count reflects relative activity: green is lower activity, red is highest.


One deliberate choice in how this data is presented: Victoria and Victoria West are reported separately, even though VREB's Mark I table combines them. The Johnson Street Bridge is a genuine boundary for buyers — someone drawn to Vic West's waterfront proximity, walkability, and converted industrial character is making a fundamentally different decision than a buyer focused on Victoria's downtown condo towers or heritage neighbourhoods. The figures here are drawn from the Mark II table, which segregates the two areas.


Waterfront properties across all districts are shown as a single row, as VREB does not attribute them back to individual municipalities in their published data.








Municipality

Total units

SFD

Condo

Townhouse

Total volume

Avg / sale






Core municipalities




Victoria


115


36


67


12


$94.1M


$818K




Victoria West — west of Johnson St Bridge


19


3


14


2


$16.2M


$853K




Oak Bay


27


26


1


0


$55.9M


$2.07M




Saanich East


101


66


25


10


$114.9M


$1.14M




Saanich West


33


22


6


5


$32.9M


$997K




Esquimalt


19


10


8


1


$16.0M


$844K




View Royal


9


4


4


1


$7.0M


$781K




Peninsula




North Saanich


9


8


0


1


$12.7M


$1.41M




Central Saanich


23


13


3


7


$23.6M


$1.03M




Sidney


31


11


17


3


$25.1M


$809K




Westshore




Langford


94


34


39


21


$74.5M


$792K




Colwood


28


18


3


7


$27.3M


$977K




Sooke


21


20


0


1


$18.8M


$896K




Highlands


4


4


0


0


$5.8M


$1.44M




Metchosin


6


6


0


0


$9.0M


$1.50M




Other areas




Gulf Islands


17


15


0


2


$13.6M


$800K




Malahat &amp; Area


18


17


0


1


$18.0M


$1.00M








 ]]> </description>
    <pubDate>Sat, 09 May 2026 11:17:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.stephenfoster.ca/blog/market-report-april-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/market-report-april-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Market Report - April 2026</title>
    <description> <![CDATA[ 



Victoria Real Estate Market Report for March 2026


April 1, 2026  A total of 579 properties sold in the Victoria Real Estate Board region this March, 5.5 per cent fewer than the 613 properties sold in March 2025 and 24.5 per cent more than in February 2026. Sales of condominiums decreased by 18.8 per cent from March 2025 with 164 units sold. Sales of single family homes decreased by 2.4 per cent from March 2025 with 285 sold.


&quot;Our market is following a fairly typical spring market trend,&quot; said Victoria Real Estate Board Chair Fergus Kyne. &quot;With sales and listings both increasing from the previous month, we're tracking a seasonal pattern that generally builds to the peak of the market in May or June.&quot;There were 3,261 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of March 2026, an increase of 12.3 per cent compared to the previous month of February and a 7.9 per cent increase from the 3,023 active listings for sale at the end of March 2025.&quot;We continue to observe a market which offers plentiful opportunity for both buyers and sellers. The current conditions of good supply and a reasonable level of consumer demand have created fewer high-pressure transactions and allowed time for both sides of the sale to make decisions and undertake due diligence,&quot; notes Chair Kyne. &quot;Every listing is unique in our market. Greater Victoria is a relatively small area which consists of many micro markets with varying conditions and demand. It's a good time to connect with your favourite local REALTOR® to ensure your property or your purchase gets the correct analysis and strategy it deserves.&quot;


The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in March 2025 was $1,344,900. The benchmark value for the same home in March 2026 decreased by 1.1 per cent to $1,330,200, up from February's value of $1,307,400. The MLS® HPI benchmark value for a condominium in the Victoria Core area in March 2025 was $558,100, while the benchmark value for the same condominium in March 2026 decreased by 0.8 per cent to $553,800, up from the February value of $545,600.








 ]]> </description>
    <pubDate>Thu, 02 Apr 2026 10:46:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.stephenfoster.ca/blog/ai-in-real-estate.html</guid>
    <link>https://www.stephenfoster.ca/blog/ai-in-real-estate.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>AI in Real Estate</title>
    <description> <![CDATA[ 
Will AI Change The Real Estate World?





You’ve probably noticed it everywhere...chatbots, instant search results, automated valuations, AI writing and AI images. It’s natural to wonder will AI evenutally replace real estate agents? The short answer is No. It will however change what great Realtors look like and that’s very good news for clients. 


What Ai Is Already Doing in Real Estate


AI has already quietly woven itself into the real estate industry in many practical ways. Online home values now update in real time, listing descriptions can be generated almost instantly and market statistics, trends and price ranges can be pulled together in seconds. Buyer search alerts are largely automated, chatbots can respond to questions around the clock and virtual staging or renovation ideas can be previewed digitally before any physical work is done.


In the past, a Realtor’s value was partly tied to access to information. Today, that information is everywhere, but information is not the same as wisdom. 


What Ai Can’t Replace


There are still many things AI simply can’t replace. It can’t walk into a home and truly feel how the space flows or how it lives. It can’t pick up on hesitation in a buyer’s voice, read between the lines during a negotiation, or spot subtle red flags during a showing. AI also can’t provide the emotional support a family often needs when making one of the biggest purchases of their lives.


Buying and selling a home isn’t just a transaction it’s deeply personal, financial, emotional and strategic. AI can give you data, but a great Realtor gives you judgment.


How Ai Will Change a Realtor’s Role





 Artificial intelligence is rapidly changing the way many industries operate, and real estate is no exception. Rather than replacing Realtors, AI is primarily removing the time consuming busywork that has traditionally taken up a large portion of an agent’s day.


Tasks such as drafting listing descriptions, running reports, tracking market trends, scheduling follow ups, managing paperwork and pulling comparable sales can now be handled far more efficiently with AI tools. As these administrative tasks become automated, Realtors will spend less time behind a screen and more time focusing on the parts of the job that truly matter.


This shift allows agents to concentrate on the areas where human expertise makes the biggest difference negotiating on behalf of clients, providing thoughtful advice, developing strategic approaches, protecting clients interests, spotting opportunities in the market and helping buyers and sellers avoid costly mistakes.


 AI Staging, Design &amp; Visualization 


One of the most exciting advances in real estate AI is happening in visual technology. Tools such as Kling, virtual staging platforms and AI renovation previews are transforming how properties are presented to buyers.


These technologies can now remove clutter from listing photos, add modern furniture to empty rooms, change wall colours, flooring and lighting and display multiple design styles. They can even virtually renovate kitchens and bathrooms, convert daytime photos into dramatic twilight shots and create lifestyle images that help buyers emotionally connect with a home.


In the past, staging often required thousands of dollars, moving trucks, and weeks of preparation. Today, a property can be digitally staged in minutes in a way that is both beautiful and affordable.


This technology does not replace traditional in person staging, but it does provide sellers with valuable options. They can quickly see how a room could look, experiment with different design styles, attract more buyers online and stand out on MLS and social media platforms.


For buyers, this technology is especially powerful because it allows them to see the potential of a home rather than focusing only on its current condition.


For Realtors, these tools create new opportunities to market properties more effectively, tell stronger visual stories, attract greater attention to listings, create emotional impact and ultimately help homes sell faster.


How a Realtor’s Value Will Increase


 As data becomes more widely available through AI tools, the real value of a Realtor will increasingly shift toward strategy, interpretation, negotiation, risk management, local knowledge and emotional intelligence.


In many ways, this mirrors other professional fields. Anyone can look up stock prices online, yet people still rely on financial advisors to guide their decisions. Anyone can search for medical symptoms, yet doctors remain essential for diagnosis and treatment. AI can provide information, but professionals provide direction.


With AI as a powerful support tool, Realtors will be able to offer even stronger services to their clients. This includes more precise pricing strategies, predictive insights into market trends, faster response times, better buyer-to-property matching, smarter marketing campaigns, stronger negotiation leverage and real time understanding of market shifts.


Instead of simply reacting to the market, Realtors will increasingly be able to anticipate it.  


So, Will Realtors Be Replaced?


 The short answer is no, but the role of a Realtor will evolve. The future will favor agents who combine technology with expertise, market knowledge and genuine human connection. 


AI may change how the work is done, but the need for trusted guidance, negotiation skill and strategic thinking in real estate will remain more important than ever. 


 



 ]]> </description>
    <pubDate>Tue, 17 Mar 2026 11:37:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.stephenfoster.ca/blog/market-report-march-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/market-report-march-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Market Report - March 2026</title>
    <description> <![CDATA[ 
Victoria Real Estate Market Report-February 2026






March 2, 2026  A total of 465 properties sold in the Victoria Real Estate Board region this February, 11.9 per cent fewer than the 528 properties sold in February 2025 and 37.2 per cent more than in January 2026. Sales of condominiums decreased by 19.8 per cent from February 2025 with 154 units sold. Sales of single family homes decreased by 12 per cent from February 2025 with 206 sold.


&quot;February's sales definitely picked up the pace compared with sales from the previous month,” said Victoria Real Estate Board Chair Fergus Kyne. &quot;Though our sales numbers are lower than they were in 2025, with an over 35 per cent 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.&quot;


There were 2,903 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2026, an increase of 10.6 per cent compared to the previous month of January and a 10.4 per cent increase from the 2,630 active listings for sale at the end of February 2025.


&quot;Last month we reported how the market rested on the threshold between balanced and a buyer's market,&quot; notes Chair Kyne. &quot;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. If you've been waiting for the spring to start your home sale or search, now is a great time to connect with a local Victoria REALTOR® to start planning.&quot;


The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2025 was $1,319,100. The benchmark value for the same home in February 2026 decreased by 0.9 per cent to $1,307,400, up from January's value of $1,265,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2025 was $549,600, while the benchmark value for the same condominium in February 2026 decreased by 0.7 per cent to $545,600, up from the January value of $537,800.







 ]]> </description>
    <pubDate>Wed, 04 Mar 2026 08:09:00 -0800</pubDate>
</item>
<item>
    <guid>https://www.stephenfoster.ca/blog/market-report---february-2026.html</guid>
    <link>https://www.stephenfoster.ca/blog/market-report---february-2026.html</link>
        <author>info@stephenfoster.ca (Stephen Foster)</author>
        <title>Market Report - February 2026</title>
    <description> <![CDATA[ 






Victoria Real Estate Market Report for January 2026


A total of 339 properties sold in the Victoria Real Estate Board region this January, 19.7 per cent fewer than the 422 properties sold in January 2025 and 7.6 per cent fewer than in December 2025. Sales of condominiums decreased by 25.3 per cent from January 2025 with 109 units sold. Sales of single family homes decreased by 21.1 per cent from January 2025 with 153 sold.


“This year kicked off with sales in a similar pattern to what we observed in 2023 and ‘24,” said Victoria Real Estate Board Chair Fergus Kyne. “Those years signalled the return to more predictable, seasonal patterns after the intense pace of the pandemic-influenced market we saw earlier in the decade. Different this year is that there is much more inventory on the market. Healthy levels of inventory that meet demand are critical to smooth out any upward pressure on pricing. As we move through the year, it may well be inventory levels and a combination of external factors like interest rates, global trade tensions, and consumer confidence that ultimately determine the course for our market.”


There were 2,624 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2026, an increase of 3.1 per cent compared to the previous month of December and a 9.6 per cent increase from the 2,395 active listings for sale at the end of January 2025.


“With the current strong level of inventory and fewer sales, the overall market in January rested on the threshold between balanced and a buyer’s market,” notes Chair Kyne. “A single month does not promise a long-term trend, but this does mean that January offered a good amount of selection for buyers and more defined outcomes for sellers. Our market area is small but diverse, and consists of many micro-markets, all of which have their own specific market conditions. This means that some areas may be in balance, while others may trend to a buyer’s market. To determine where a property is within the balance of markets, connect with your favourite Victoria REALTOR®.”


The Multiple Listing Service® Home Price Index* benchmark value for a single family home in the Victoria Core in January 2025 was $1,297,300. The benchmark value for the same home in January 2026 decreased by 2.5 per cent to $1,265,500, up from December’s value of $1,255,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2025 was $545,900, while the benchmark value for the same condominium in January 2026 decreased by 1.5 per cent to $537,800, down from the December value of $549,900.




 ]]> </description>
    <pubDate>Tue, 03 Feb 2026 12:57:00 -0800</pubDate>
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