The Victoria real estate market showed encouraging momentum in February 2026. Read Mike Doughty's full market update covering home prices, condo trends, and what to expect this spring on Southern Vancouver Island.
If you've been watching the Victoria real estate market and wondering when things might start picking up — February gave us some pretty encouraging signs.
A total of 465 properties sold across the Victoria Real Estate Board region in February 2026. That's up 37.2% from January, which is a meaningful jump. Yes, we're still running about 11.9% below February 2025 numbers, but the momentum is real and the spring market is shaping up to be interesting. As a sixth-generation Vancouver Islander who's seen a few market cycles, I'd say the fundamentals right now are pretty solid for anyone thinking about making a move.
Let's break it down.
Single Family Homes – Prices Stabilizing
206 single family homes sold in February, down 12% from the same time last year. On the price side, the MLS® HPI benchmark for a single family home in the Victoria Core is sitting at $1,307,400 — that's down just 0.9% year-over-year, but notably up from January's benchmark of $1,265,500. That month-over-month bounce is worth paying attention to.
If you're looking at the Westshore — Langford, Colwood, View Royal — the benchmark single family price is $1,004,800, making it one of the more accessible entry points for families wanting a detached home within commuting distance of Victoria.
Condos – A Buyer's Window That May Be Closing
154 condos sold in February, down 19.8% year-over-year. Condo prices have softened slightly over the past year — the Victoria Core benchmark sits at $545,600 (down 0.7% from February 2025), and the Westshore condo benchmark is $510,200.
Here's what's interesting though: month-over-month, condo prices are trending upward across every region. If you've been sitting on the fence about buying a condo in Victoria or Langford, the window of softer pricing may not stay open much longer.
Townhomes – The Standout Performer
Townhomes were the bright spot of the month. 66 sold in February — up 11.9% compared to February 2025, making it the strongest-performing segment by year-over-year sales. The benchmark price for a townhome in the Victoria Core is $842,800, while the Westshore comes in at $709,000.
For buyers who want more space than a condo but aren't quite at the detached home price point, townhomes continue to offer strong value — especially on the Westshore.
What Kind of Market Are We In?
The short answer: balanced — and that's actually a good thing.
The Sales to Active Listings Ratio is sitting right in the balanced range (between 17% and 28%), which means neither buyers nor sellers hold a strong advantage. There are currently 2,903 active listings on the market — up 10.6% from January and 10.4% higher than this time last year. Buyers have solid selection right now across all property types and price points throughout Greater Victoria, Langford, Saanich, Oak Bay, and beyond.
Victoria Real Estate Board Chair Fergus Kyne summed it up well: "When the market is in balance, it means excellent opportunities exist for buyers and sellers."
Hard to argue with that.
What to Expect This Spring
The spring market traditionally brings more listings, more buyers, and more activity — and all the signals point to 2026 being no different. The month-over-month surge in February sales, combined with healthy inventory levels, sets the stage for a busy few months ahead.
If you're thinking about selling your home in Victoria, Langford, Colwood, Saanich, or anywhere across Southern Vancouver Island, now is the time to start planning — not when the "For Sale" signs start popping up on your street. And if you're a buyer, you have more selection and more negotiating room than you've had in years. That combination doesn't last forever.
Thinking About Buying or Selling on Vancouver Island?
I'm Mike Doughty, REALTOR® with RE/MAX Camosun, and I've been helping buyers and sellers navigate the Southern Vancouver Island market for years — backed by six generations of Island roots and a genuine love for this place.
Whether you're looking at Victoria, Langford, the Westshore, the Cowichan Valley, or anywhere in between, I'd love to help you make a smart, confident move.
📞 Give me a call, shoot me a text, or reach out through the contact form below. Let's talk about what the February 2026 numbers mean for your situation.
Data sourced from the Victoria Real Estate Board MLS® Statistics Package, February 2026. MLS® HPI benchmark prices reflect the Victoria Core and Westshore regions.