July 2026 Monthly Market Update - Seasonal Slowdown

Greater Victoria Real Estate Market Update | July 2026 Sales, Prices & Buyer OpportunitiesWhat is really happening in the Greater Victoria real estate market as we move through the summer of 2026?In this month’s market update, Jane Johnston, Andrew Plank and Jen Lowe look beyond the headlines to explain where homes are selling, where activity has slowed and where buyers may now have greater negotiating power.A total of 673 properties sold across the Victoria Real Estate Board region in July—just 1% fewer than July 2025—while active inventory rose 3.9% year over year to 3,847 listings. Detached-home sales increased by 4.1%, but condominium sales fell by 7.1% and townhouse sales declined by 15.5%.We examine why detached homes in Langford and Colwood are holding up comparatively well, while prices have softened across much of the Victoria Core and in areas such as Sooke, View Royal, Saanich West, Metchosin and the Gulf Islands. We also discuss the opportunities developing in the condo market, where benchmark prices have declined in Victoria, Langford, Colwood, Oak Bay and Victoria West.Townhouse sales have slowed, but prices remain relatively resilient—particularly in the Victoria Core—showing why Greater Victoria cannot be described as one single market. Different locations and property types are moving in very different directions.For buyers, this episode identifies where more inventory, longer market times and declining prices may create opportunity. For sellers, we explain why preparation, presentation and accurate pricing are especially important in a balanced but highly selective market.