September brought a noticeable shift in our market. Sales slowed while the number of homes for sale kept climbing, and for the first time in a long while the balance has tipped in favour of buyers.
Sales slowed
463 homes sold across the Victoria Real Estate Board region in September. That is 16.4% fewer than the 554 sold in September 2025, and 21.7% fewer than in August.
- Single family homes: 239 sales, down 17.3% from a year ago
- Condos: 137 sales, down 11%
- Townhomes: 53 sales, down 26.4%
More homes to choose from
There were 3,811 active listings at the end of September. That is 4.1% more than in August and 3.2% more than in September 2025.
Put those two numbers together and roughly 12% of listed homes sold during the month. When that share falls below about 17%, the market is generally considered a buyer’s market. The Board’s chair, Fergus Kyne, noted that inventory is now outpacing sales to a degree we have not seen in years, while also cautioning that one month does not make a trend.
Prices eased slightly
- Single family homes (Victoria Core): benchmark of $1,280,100, down 2% from $1,306,500 a year ago, and down from $1,301,800 in August.
- Condos (Victoria Core): benchmark of $547,800, up 1% from a year ago, and down slightly from $553,600 in August.
In other words, house prices are a little lower than last year, while condo prices have held steady.
What this means if you are buying
This is the most room buyers have had in some time. With more homes on the market, you can take a little longer to decide, compare options and include the subjects that protect you, like financing and inspection. Getting pre-approved first still matters, so you can move confidently when the right home comes along.
What this means if you are selling
Buyers have more choice, so pricing and presentation matter more than they did a year ago. Homes that are priced in line with recent sales and show well are still selling. If you are thinking about listing this fall, a clear look at the competition in your neighbourhood is the best place to start.
Wondering what this means for your home?
I’m happy to walk you through the numbers for your neighbourhood, with no obligation.
Source: Victoria Real Estate Board, September 2026 statistics. Figures cover the VREB region; benchmark prices are for the Victoria Core area. See the full VREB release.