The Victoria real estate market continued to gain momentum in May, with increased buyer activity and the highest level of available inventory seen in more than a decade. While overall sales were slightly lower than this time last year, the growing number of listings is creating opportunities for buyers and encouraging sellers to price strategically.

Victoria Home Sales Increase from April

A total of 713 properties sold across the Victoria Real Estate Board region in May 2026. While this represents a 5.9% decrease compared to May 2025, it marks a significant 10.9% increase over April 2026 sales.Breaking down the numbers:

• 385 single-family homes sold, down 4% from May 2025
• 188 condominiums sold, down 14.9% from May 2025
• Overall sales activity increased compared to the previous month, signaling a stronger spring market

According to Victoria Real Estate Board Chair Fergus Kyne, buyers are no longer waiting on the sidelines. With more choices available, they are taking time to carefully evaluate properties, compare options, and negotiate when appropriate.

Inventory Reaches Highest Level in 11 Years

One of the most significant trends in today's Victoria real estate market is the increase in available inventory.At the end of May, there were 4,029 active listings on the MLS®, representing:

• An 8.6% increase from April 2026
• An 8.4% increase from May 2025

This is the largest inventory level Victoria has experienced in over eleven years.For buyers, this means more selection and less pressure to make rushed decisions. For sellers, it highlights the importance of proper pricing, professional marketing, and understanding current market conditions.

What This Means for Buyers

Today's market offers buyers several advantages:

• More homes to choose from
• Increased negotiating opportunities
• Additional time for due diligence and inspections
• Less competition compared to the ultra-competitive markets of recent years

Buyers who have been waiting for more inventory may find this to be one of the best opportunities in recent years to enter the market or make a move.

What This Means for Sellers

While homes continue to sell, buyers are becoming more selective.Properties that are priced appropriately and presented well are attracting attention, while overpriced listings may sit on the market longer than expected.Sellers should focus on:

• Accurate pricing based on current market conditions
• Professional photography and marketing
• Strategic preparation before listing
• Working with a local REALTOR® who understands the specific dynamics of their neighbourhood and property type

The market remains active, but success increasingly depends on a well-executed strategy.

Victoria Home Prices Remain Stable

Despite higher inventory levels, benchmark home prices have remained relatively steady.

Single-Family Homes

The MLS® Home Price Index benchmark value for a single-family home in Victoria Core was:

• May 2025: $1,335,500
• May 2026: $1,339,000

This represents a modest increase of 0.3% year-over-year.

Condominiums

The MLS® benchmark value for a condominium in Victoria Core was:

• May 2025: $562,100
• May 2026: $551,400

This represents a 1.9% decrease year-over-year.The stability in detached home prices suggests continued confidence in the market, while condominium buyers may find additional value opportunities in certain segments.

Looking Ahead

The Victoria real estate market continues to evolve as inventory levels rise and buyers gain more options. While we're no longer seeing the frenzied conditions of previous years, the market remains healthy and active.Whether you're considering buying, selling, or simply wondering what your home may be worth in today's market, understanding local trends is essential. Every neighbourhood and property type behaves differently, making local market expertise more important than ever.If you'd like to discuss how current market conditions affect your property or your real estate goals, feel free to reach out. I'm always happy to provide personalized advice and a current market evaluation.