The Victoria Real Estate Board (VREB) counts every sale on its MLS® system, which covers Greater Victoria plus a handful of outlying areas it reports separately. This report uses its September 2026 statistics package, released in October 2026. VREB gives no single price for all homes: it reports averages and medians for each property type, and its MLS® Home Price Index benchmarks only for the Victoria Core. How those measures differ, and how every city report on this site is put together, is explained once on the Canadian housing market overview.
Single-family figures come in two versions, “Greater Victoria” and “all areas”, the second adding the board’s outlying districts. Condos, townhouses and the sales totals are board-wide.
Victoria home prices, September 2026
- Average single-family price, Greater Victoria: $1,281,739 (-2.0% year over year)
- Median single-family price, Greater Victoria: $1,150,000 (-1.7%)
- Average condo apartment price: $605,399 (7.6%)
- Average row/townhouse price: $845,780 (-1.6%)
Average prices by property type
| Home Type | Home Price | Y/Y Change | M/M Change |
|---|---|---|---|
| Single Family (all areas) | $1,268,691 | -2.2% | N/A |
| Condo Apartment | $605,399 | +7.6% | N/A |
| Row/Townhouse | $845,780 | -1.6% | N/A |
VREB average selling prices, September 2026; single-family is all areas.
Median prices by property type
| Property type | Median price | Year over year |
|---|---|---|
| Single family, Greater Victoria | $1,150,000 | -1.7% |
| Single family, all areas | $1,140,000 | -1.3% |
| Condo apartment | $517,500 | -4.1% |
| Row/townhouse | $779,900 | -2.5% |
VREB median selling prices, September 2026.
Victoria Core benchmark prices
VREB publishes the MLS HPI benchmark, the estimated price of a typical home, for its Victoria Core area rather than the whole region. In September 2026 the Core benchmark was $1,280,100 for a single family home ($1,306,500 a year earlier, a -2% change as the board rounds it), $547,800 for a condominium ($542,200 a year earlier, 1%) and $829,400 for a townhome. Because the benchmark holds the type of home constant, it can move differently from the averages above, which shift with whichever homes happened to sell.
Sales, listings and market conditions
| Measure | September 2026 | Year over year |
|---|---|---|
| Sales, all property types | 463 | -16.4% |
| Active listings, end of month | 3,811 |
VREB, September 2026.
Dividing listings by sales gives 8.2 months of supply (our calculation), above CREA’s 6.4-month buyer’s-market line.
In its September 2026 release, VREB’s chair said “the numbers indicate that the Victoria housing market has ventured into buyer’s market territory”, the first such reading outside the early pandemic months since January 2015, while cautioning that “one month does not make a trend”.
Income needed to buy in Victoria
A Victoria Core condo at the $547,800 benchmark needs roughly $125,200 of household income with the minimum $29,780 down, or $108,900 with 20% down. For the $1,280,100 single family benchmark the figures are $279,600 and $248,300. Both use the stress test and a 39% housing-cost limit (the method).
Neighbourhoods and nearby markets
The board’s region takes in the Core municipalities, the Saanich Peninsula and the Westshore communities. Their character, commutes and housing stock are described in the guide to where to live in Victoria, and the Victoria vs Vancouver comparison sets the two markets side by side. Board figures for the mainland are on the Vancouver housing market page.
Buying costs
BC buyers pay the provincial property transfer tax on closing; that page works it out with the first-time buyer exemption.
Related Victoria pages
- British Columbia housing market: provincial prices and every BC city report
- Victoria rental market: rents and vacancy
- Average income in Victoria: household incomes set against local prices
- BC first-time home buyer guide
- BC mortgage affordability calculator
Sources
The figures and rules on this page come from these sources, last checked against them between September 24, 2026 and October 4, 2026. How we check facts.
- Bank of Canada: Mortgage rates, fixed 5 years and over: insured residential mortgages, funds advanced (data series)
- Bank of Canada: Mortgage rates, fixed 5 years and over: uninsured residential mortgages, funds advanced (data series)
- CMHC: Calculating GDS / TDS
- CMHC: CMHC Purchase
- CMHC: Home Start
- Department of Finance Canada: Boldest mortgage reforms in decades come into force today
- Department of Finance Canada: Archived
- Department of Finance Canada: Government announces boldest mortgage reforms in decades to unlock homeownership for…
- Department of Finance Canada: “Straight Switches” and portfolio insurance
- Financial Consumer Agency of Canada: How much you need for a down payment
- GlobeNewswire: Canadian Home Sales Slide Down Slightly in August
- Justice Laws (Canada): Bank Act
- OSFI: Minimum qualifying rate for uninsured mortgages
- OSFI: Final Revised Guideline B-20: Residential Mortgage Underwriting Practices and Procedures
- OSFI: Amendments to the minimum qualifying rate for uninsured mortgages
- OSFI: OSFI exempts uninsured mortgage straight switches from the prescribed MQR and…
- OSFI: Loan-to-income limits for uninsured mortgage portfolios
- Victoria Real Estate Board: Victoria Real Estate Market Report for August 2026
- Victoria Real Estate Board: Single family homes
- Victoria Real Estate Board: Victoria Real Estate Board | Discover Your Dream Home Today