# Victoria Housing Market: September Sales Fall as Inventory Rises September 2026 sales in Victoria fell sharply year-over-year while active listings rose. This divergence signals growing buyer choice and potential price pressure ahead. Published 2026-10-11. Evidence snapshot 2026-10-11. ## Market summary September 2026 sales in Victoria fell sharply year-over-year while active listings rose. This divergence signals growing buyer choice and potential price pressure ahead. ## Central finding Victoria's September 2026 sales decline and rising inventory indicate a shift toward buyer leverage, despite stable Q2 prices. Sources: [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/mls-statistics) [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/current-statistics) ## September Sales Drop Amid Rising Inventory Victoria recorded 463 total residential sales in September 2026, a 16.4 percent decrease from the 554 sold in September 2025. Single-family home sales fell 17.3 percent to 239 units, while condominium sales dropped 11 percent to 137 units during the same period. These figures reflect a broad-based slowdown in transaction activity across major property categories. Active listings reached 3,811 at the end of September 2026, up 4.1 percent from August and 3.2 percent above the 3,694 recorded in September 2025. The simultaneous decline in sales and increase in available properties suggests that seller participation is outpacing buyer absorption. This imbalance typically grants buyers greater negotiating leverage as competition for specific homes diminishes. Sources: [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/mls-statistics) [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/current-statistics) ## Stable Prices Mask Underlying Market Shifts Second quarter 2026 median sale prices showed minimal movement, with single-family homes down 1.9 percent to $1,175,000 and condominiums down 1.8 percent to $535,000 year-over-year. Townhouse and row unit medians declined 1.2 percent to $790,000 over the same quarterly period. These modest decreases indicate that price adjustments have lagged behind the recent volume contraction observed in monthly data. The composite benchmark price for all property types stood at $887,300 in August 2026, reflecting a 0.8 percent year-over-year increase. This slight upward trend contrasts with the sharper monthly sales declines reported in September. The divergence between stable quarterly price metrics and falling monthly volumes suggests that current pricing may not yet fully incorporate the increased inventory pressure building in the market. Sources: [Victoria Real Estate Board Median Price | CREA Statistics](https://stats.crea.ca/mls/vict-median-price) [Press , Market Reports & Analysis | Search Listings Online](https://www.searchlistingsonline.ca/press) ## The strongest counter-case Q2 2026 median sale prices fell only 1.2 to 1.9 percent year-over-year, suggesting price stability despite volume declines. Sources: [Victoria Real Estate Board Median Price | CREA Statistics](https://stats.crea.ca/mls/vict-median-price) ## Next 3 months, October 2026 to January 2027 Prices: falling. falling Why: Current inventory build and sales decline suggest continued softening. Buyers: wait. Rising inventory provides more negotiating power and selection. Sellers: wait. Higher inventory reduces urgency for sellers to accept lower offers. Watch: Monthly sales-to-active-listings ratio dropping below 15 percent. Confidence: moderate. Sources: [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/mls-statistics) [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/current-statistics) ## Next 6 months, February 2027 to April 2027 Prices: falling. falling Why: Sustained inventory growth may force further price adjustments if demand does not recover. Buyers: wait. Additional months of supply likely deepen discounts on stale listings. Sellers: either way. Pricing must align with market reality to avoid extended days on market. Watch: Median days on market exceeding 45 days across all property types. Confidence: low. Sources: [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/mls-statistics) [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/current-statistics) ## Next 12 months, May 2027 to October 2027 Prices: flat. flat Why: Market equilibrium depends on whether new listings outpace sales over the full cycle. Buyers: either way. Prices may stabilize if inventory growth slows or demand rebounds. Sellers: wait. Uncertainty about demand recovery favors patience over rushed sales. Watch: Year-over-year sales volume returning to positive growth by mid-2027. Confidence: low. Sources: [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/mls-statistics) [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/current-statistics) Assumptions: Active listings continue to rise at the September 2026 pace; Sales volumes remain below year-ago levels through Q4 2026. What would reverse this: Condominium months of inventory fall below 4.5 months in Q3 2026 data, indicating faster-than-expected absorption. Sources: [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/mls-statistics) [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/current-statistics) ## Sources - [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/mls-statistics): Source reference date 11 October 2026 (observation period not stated). Scope: city, Victoria, BC. - [Current Statistics | Discover Market Trends - Act Now , Victoria Real Estate Board](https://www.vreb.org/current-statistics): Source reference date 11 October 2026 (observation period not stated). Scope: city, Victoria, BC. - [Victoria Real Estate Board Median Price | CREA Statistics](https://stats.crea.ca/mls/vict-median-price): Observation reference period: 30 June 2026. Scope: city, Victoria, BC. - [Press , Market Reports & Analysis | Search Listings Online](https://www.searchlistingsonline.ca/press): Observation reference period: 31 August 2026. Scope: city, Victoria, BC. Prepared by Aurynge with AI-assisted research and writing. See /methodology for the evidence and publication policy.