As we move into the spring market, March brought a noticeable increase in both sales activity and inventory across Greater Victoria.

We’re seeing a fairly typical seasonal pattern, with momentum building toward what is usually the busiest time of year in May and June. Overall, the market remains balanced, creating opportunities for both buyers and sellers.

Overall Market Snapshot

A total of 579 properties sold in March, representing a strong increase from February, while still slightly below last year’s numbers.

Inventory also continued to rise, with 3,261 active listings at month end. This increase in supply is giving buyers more choice and reducing some of the urgency we’ve seen in past markets.

The result is a more balanced environment—one where both buyers and sellers have time to make informed decisions.

Market Breakdown by Property Type

Single-Family Homes

• 285 sales in March

• Average price: approximately $1.34M

• Median price: approximately $1.18M

• Average time to sell: ~38 days

Single-family homes continue to be the most stable segment of the market. Well-priced homes in desirable areas are still seeing solid activity, while overpriced listings are taking longer to move.

Condos

• 164 sales

• Average price: approximately $634K

• Median price: approximately $540K

• Average time to sell: ~47 days

The condo market is offering more selection than we’ve seen in recent years. Buyers are taking their time, comparing options, and negotiating more than they have in the past.

Townhomes

• 88 sales

• Average price: approximately $837K

• Median price: approximately $775K

• Average time to sell: ~38 days

Townhomes remain a strong option for buyers looking for more space without the price point of a detached home. Demand remains steady in this segment.

Market Activity by Area

Victoria (Core & Victoria West)

The Victoria core continues to be driven by condo activity, with strong demand for walkable, lifestyle-oriented living. Limited detached inventory continues to support pricing.

Westshore (Langford, Colwood, View Royal, Highlands, Metchosin)

The Westshore remains one of the most active regions in the market. Newer housing, relative affordability, and family-oriented communities continue to attract strong buyer interest.

Saanich (East & West)

Saanich continues to see steady demand across all property types. Its central location and established neighbourhoods make it a consistent performer in the market.

North Saanich

A smaller, higher price point market, North Saanich continues to attract buyers seeking privacy, larger properties, and a lifestyle-oriented setting.

Oak Bay

Oak Bay remains one of the most desirable and established areas in Greater Victoria. Limited inventory and strong demand continue to support premium pricing.

Sooke

Sooke continues to appeal to buyers looking for value and space. It offers a more accessible entry point into the market, though homes may take slightly longer to sell.

Malahat & Area

This area remains a niche market, attracting buyers looking for acreage, privacy, and a more rural lifestyle.

What This Means for Buyers and Sellers

The Greater Victoria market is currently balanced:

• Buyers have more inventory and time to evaluate options

• Sellers need to be strategic with pricing and presentation

• Well-prepared homes are still selling within a reasonable timeframe

As we move further into spring, we typically see activity continue to build, making this an important time to start planning if you’re considering a move this year.

If you’re watching the market and wondering what this means for your home or your next move, I’m always happy to provide honest, straightforward advice.

With 18 years of experience across all areas of Greater Victoria, I help clients navigate changing market conditions with clarity and confidence—whether buying, selling, or simply planning ahead.

Reach out anytime for a no-pressure conversation.

Cheryl Barnes
REALTOR® | Greater Victoria
📞 250-413-7943

1. Overprice and hope

2. Price at market and compete

3. Price slightly under and create urgency

The question isn’t which one exists…
It’s which one you’re choosing — and why.

Every strategy has a consequence.

The wrong one costs you time, momentum, and often money.

The right one creates leverage.

For a quick chat on how to price your home properly for sale, call me at 250-413-7943

The Bank of Canada has officially held its key interest rate at 2.25%, with no rate cut announced.

So… why no cut?

In simple terms, the Bank is being cautious.

Inflation is close to the 2% target, so there’s no urgent pressure to lower rates. The economy is growing slowly, not strong enough to raise rates, but not weak enough to force cuts. At the same time, there is ongoing global uncertainty, including trade tensions, geopolitical risks, and rising oil prices.

Bottom line: the Bank is in a “wait and see” position, watching closely before making any changes.

What this means for you:

Mortgage rates stay steady (for now). There’s no immediate change to borrowing costs, which gives buyers and homeowners more stability when planning.

Buyers: opportunity is still here. Many buyers are still waiting on the sidelines, which means less competition, more negotiating power, and more time to make confident decisions.

Sellers: the right buyers are still active. Homes are still selling, especially when priced well and presented properly. Today’s buyers are qualified, serious, and ready to act.

Bottom line:

This isn’t a slow market — it’s a strategic one.

The Bank of Canada is holding steady, and so is the market. The advantage right now goes to those who move with a plan, not those waiting on headlines.

Thinking of making a move this spring?

Let’s build a strategy that works for you in today’s market.

Call or text: 250-413-7943
www.cherylbarnes.ca

Victoria Real Estate Market Update – February 2026

The Victoria real estate market saw a noticeable increase in activity in February as the market begins to move toward the spring season.

A total of 465 properties sold in the Victoria Real Estate Board (VREB) region in February 2026, which represents an 11.9% decrease compared to February 2025, when 528 properties sold. However, sales were up significantly month-over-month, increasing 37.2% from January 2026.

Breaking the numbers down by property type:

• Single-family homes: 206 sold, down 12% from February 2025

• Condominiums: 154 sold, down 19.8% from February 2025

Despite the year-over-year decline, February showed clear momentum building compared to the slower start in January.

According to Victoria Real Estate Board Chair Fergus Kyne, the increase in activity suggests the market may be finding its balance.

“February’s sales definitely picked up the pace compared with sales from the previous month,” Kyne noted. “Though our sales numbers are lower than they were in 2025, with an over 35% increase month over month and a very healthy amount of inventory currently available, it will be interesting to see how our spring market unfolds in the upcoming months.”

Inventory Levels Continue to Rise

At the end of February, there were 2,903 active listings on the Victoria Real Estate Board MLS®, which represents:

• 10.6% more listings than January 2026

• 10.4% more listings than February 2025, when there were 2,630 active listings.

This growing inventory is helping bring the market closer to balanced conditions, offering opportunities for both buyers and sellers.

Kyne added that the market appears to be stabilizing after sitting on the edge between balanced and buyer-leaning conditions earlier this year.

“When the market is in balance, it means excellent opportunities exist for buyers and sellers. If you’ve been waiting for the spring to start your home sale or search, now is a great time to connect with a local Victoria REALTOR® to begin planning.”

Victoria Home Prices

The MLS® Home Price Index benchmark value for a single-family home in the Victoria Core area in February 2026 was $1,307,400, representing:

• a 0.9% decrease from February 2025

• an increase from January 2026, when the benchmark price was $1,265,500

For condominiums, the benchmark price in February 2026 was $545,600, which represents:

• a 0.7% decrease compared to February 2025

• an increase from January’s benchmark of $537,800

What This Means for Buyers and Sellers

While sales are slightly lower compared to last year, the increase in listings and the jump in monthly sales activity suggest the market is becoming more balanced as we move into the spring market.

For buyers, higher inventory levels mean more choice and less competition than we saw during the peak years. For sellers, stable pricing and improving activity levels still create strong opportunities when a home is properly prepared and marketed.

As we head into the traditionally busy spring market, it will be interesting to see how inventory, buyer demand, and interest rates shape the coming months in the Victoria real estate market.

The Westshore real estate market opened 2026 in a familiar seasonal rhythm—slower sales, more listings, and a noticeable shift toward balance. While January activity was down year-over-year across Greater Victoria, the Westshore is showing signs of stability rather than stress, with price resilience and increased choice for buyers.

Here’s how the January numbers from the Victoria Real Estate Board translate locally.

Westshore Sales Activity: Slower, But Expected

Across the Victoria region, sales were down nearly 20% compared to January 2025, and the Westshore followed that broader trend. Single-family homes and condos saw fewer transactions, while townhomes held steady, reflecting continued demand for attainable, family-friendly housing in Langford, Colwood, and Royal Bay.

This slowdown mirrors early-year patterns seen in 2023 and 2024 and does not indicate a weakening market—rather, a return to predictable seasonality after the intense pace of the pandemic years.

Inventory: More Choice Across Westshore Communities

One of the most important shifts for Westshore buyers is inventory growth.

• Active listings across the Victoria region are up 9.6% year-over-year

• January inventory increased again month-over-month

Locally, this means:

• More detached homes available in Langford, Bear Mountain, and Sooke

• Increased condo and townhome selection in Colwood and Royal Bay

• Less pressure to “rush” into a decision for buyers

For sellers, this also means pricing and presentation are more important than they’ve been in recent years.

Market Balance: On the Buyer-Friendly Side of Neutral

The Sales-to-Active Listings Ratio places the overall market right on the edge between balanced and buyer-leaning conditions.

In practical Westshore terms:

• Buyers have room to negotiate, especially on condos and entry-level homes

• Sellers can still achieve strong results, but must be realistic and well-positioned

• Properties that are overpriced or poorly presented are taking longer to sell

Micro-markets matter. A well-priced, well-staged home in Royal Bay or Bear Mountain may sell quickly, while similar homes elsewhere may require adjustments.

Pricing in the Westshore: Holding Steady

While region-wide benchmark prices softened slightly year-over-year, pricing remains remarkably stable.

Victoria Core MLS® HPI Benchmarks (context for Westshore trends):

• Single-family homes: $1,265,500 (-2.5% year-over-year)

• Condominiums: $537,800 (-1.5% year-over-year)

In the Westshore, newer housing stock, strong local employment, and continued population growth have helped cushion prices—particularly for family homes and townhomes.

This is a market adjusting to supply and demand, not a market in decline.

What This Means If You’re Buying or Selling in the Westshore

Buyers

• More listings to choose from

• Less competition than in past years

• Strong opportunities in condos and townhomes

Sellers

• Strategic pricing is essential

• Staging and marketing make a measurable difference

• Local expertise matters more in a balanced market

The Bottom Line

The Westshore market in January 2026 is measured, stable, and opportunity-driven. Inventory is healthier, pricing is steady, and both buyers and sellers can make confident decisions with the right guidance.

Because Westshore neighbourhoods behave differently—from Langford to Sooke—understanding your specific micro-market is key.

Looking for a Westshore Real Estate Expert?

This Westshore market update is brought to you by Cheryl Barnes, a licensed REALTOR® with over 18 years of experience helping buyers and sellers in Langford, Colwood, Royal Bay, Bear Mountain, View Royal, and Sooke.

Cheryl is known locally for her data-driven advice, strategic pricing, and full-service approach to selling homes—combining market expertise, professional staging, and targeted marketing to achieve strong results in changing market conditions.

January is the quiet hero of the homeowner calendar. It’s the month where a few simple checks can prevent costly repairs later — especially in the cold, wet conditions we experience across the Westshore.

Here’s what every BC homeowner should focus on this month.

Protect Against Frozen & Burst Pipes

Even mild winters cause frozen pipes in garages, crawlspaces and exterior walls.

• Open cabinet doors under sinks on cold nights.

• Disconnect garden hoses and shut off exterior taps.

• Let faucets drip slightly during freezing temperatures.

• Find and test your main water shut-off now — not during an emergency.

Check Attic & Bathroom Venting

Condensation buildup is a leading cause of mold and structural damage in winter.

• Run bathroom fans for at least 20 minutes after showers.

• Ensure vent pipes are properly secured in the attic.

• Watch for moisture staining around ceiling fans or skylights.

Inspect Your Roof After Winter Storms

January storms quietly expose roof issues.

• Look for lifted shingles or loose flashing.

• Check ceilings for faint water rings or discoloration.

• Clear debris from gutters so water drains freely.

Service Your Heating System

Your furnace or heat pump is working overtime right now.

• Replace or clean filters.

• Book annual servicing before breakdown season hits.

• Ensure all vents are open and unobstructed.

Control Winter Humidity

BC homes trap moisture in winter, especially suites and basements.

• Install or use fan timers and humidity sensors.

• Run dehumidifiers in lower levels.

• Aim for indoor humidity between 35–50%.

Test Safety Systems

New year, fresh batteries.

• Test smoke and carbon monoxide detectors.

• Replace detectors over 10 years old.

• Make sure everyone knows where emergency shut-offs are located.

Final Thought

January isn’t about renovations — it’s about prevention. These small checks protect your home, your comfort, and your investment all year long.

Your Trusted Westshore Real Estate Advisor

If you live in Langford, Colwood, Royal Bay, Bear Mountain, Metchosin or anywhere across the Westshore, staying on top of home maintenance is one of the smartest ways to protect your equity.

With over 20 years of experience helping Westshore homeowners, I guide clients through every stage of ownership — from preventative care and market timing to strategic selling and design-forward marketing.

Whether you’re planning a move this year or just want to understand your home’s current value, I’m always happy to help.

Cheryl Barnes, REALTOR®
Westshore Real Estate Expert – Langford • Colwood • Bear Mountain • Royal Bay • Metchosin
Certified Home Stager | Certified Luxury Home Marketing Specialist | SRES
📍 Macdonald Realty Victoria
📞 250-413-7943
🌐 www.CherylBarnes.ca

Looking for the most trusted Westshore real estate agent? I provide local market expertise, professional staging, data-driven pricing strategies, and a boutique selling experience tailored to your home and your goals.

Short answer: yes — if you understand the cycle and buy with a plan.

Langford has evolved from an affordable suburb into one of the most active real estate markets in Greater Victoria. What makes it especially attractive for investors is the mix of strong population growth, steady rental demand, and comparatively attainable price points.

Why Investors Keep Choosing Langford

1. Population growth is built in
Langford continues to attract young families, first-time buyers, military relocations and downsizers. That steady inflow fuels both resale demand and rental absorption.

2. Prices remain accessible — for now
While Victoria Core prices have softened, Langford values have held more consistently. This creates a window where buyers can still enter the market without competing in the ultra-premium price tiers seen closer to downtown.

3. Rental demand isn’t slowing
Townhomes, duplexes and secondary-suite homes in Langford rent quickly. Proximity to base, trades employment, new schools and highway access keeps vacancy rates low compared to many other communities.

4. Infrastructure keeps adding value
Retail centres, recreation facilities, schools and transit expansion aren’t speculative — they’re already in place. Investors benefit from real lifestyle infrastructure, not future promises.

What Type of Property Works Best?

Not every purchase is an investment.

The strongest performers in Langford tend to be:

• Homes with legal or easily added suites

• Townhomes in family-oriented developments

• Properties walkable to schools, transit and retail hubs

The Risk to Watch

Inventory has risen across Greater Victoria. That doesn’t weaken Langford — but it does mean pricing strategy matters more than ever. Buying based on emotion instead of math is how investors get stuck.

The Bottom Line

Langford remains one of the most reliable long-term investment communities in the region — not because it’s trendy, but because it functions like a real city now.

Smart investors focus on:

• Neighbourhood fundamentals

• Rental demand

• Exit strategy before purchase

Local Market Insight

I specialize in helping homeowners in Langford, Colwood and the Westshore understand how local price trends, inventory levels and buyer demand affect their property value — not just what’s happening across Greater Victoria.

If you’d like a neighbourhood-specific breakdown for your home or condo, feel free to reach out.

Cheryl Barnes
Westshore Real Estate Specialist
Macdonald Realty
📞 250-413-7943

2025 didn’t bring wild swings — it delivered something far more valuable: stability.

Across Greater Victoria, a total of 6,918 properties sold in 2025, slightly ahead of 2024’s 6,893 sales — a modest 0.36% increase year-over-year. In a market shaped by economic uncertainty, that’s a strong signal of resilience.

More Inventory = Better Decisions

One of the defining features of 2025 was inventory.

By the end of December there were 2,544 active listings, up 11.1% from December 2024. Buyers had more choice, more time, and more negotiating power. Sellers, meanwhile, benefitted from clearer pricing expectations and fewer emotional surprises.

Price Trends: A Tale of Two Markets

The numbers tell a nuanced story:

• Victoria Core Single-Family Homes
  Benchmark price ended the year at $1,255,000, down 4.7% year-over-year.

• Victoria Core Condos
  Benchmark price edged up to $549,900, a 0.7% increase from 2024.

• Westshore
  While the Core softened, the Westshore quietly outperformed with modest gains, reinforcing the appeal of communities like Langford, Colwood and Sooke for value-driven buyers.

The Market Stayed… Balanced

The Sales-to-Active-Listings Ratio hovered between 17% and 28% throughout the year, the range defined as a balanced market — meaning neither buyers nor sellers held a decisive advantage.

This balance kept prices from spiking or collapsing — a healthy sign for long-term homeowners.

What This Means for 2026

2025 proved that preparation matters more than timing.

• Buyers succeeded when they acted decisively on well-priced homes.

• Sellers who focused on presentation, pricing strategy and local trends still achieved strong results — even in softer segments.

If inventory remains elevated into 2026, the winners will be the ones who approach the market with clarity, not guesswork.

I specialize in helping homeowners in Langford, Colwood and the Westshore understand how local price trends, inventory levels and buyer demand affect their property value — not just what’s happening across Greater Victoria.

If you’d like a neighbourhood-specific breakdown for your home or condo, feel free to reach out.

Cheryl Barnes
Westshore Real Estate Specialist
Macdonald Realty
📞 250-413-7943

Each year the Victoria Real Estate Board tracks where buyers are currently living at the time they purchase a home. The 2025 numbers are in — and they tell an interesting story about how our market is evolving.

The Big Picture

In 2025, 91% of all buyers were already living in British Columbia. Only 7% came from elsewhere in Canada, and just under 2% came from outside the country.

What stands out most is that local buyers are driving the market more than ever before — especially here in Greater Victoria.

Buyers Living in BC – 2025

Out of 6,592 total buyers last year:

• Greater Victoria: 5,008 buyers (75.97%)

• Lower Mainland: 491 buyers (7.45%)

• Southern Gulf Islands: 153 buyers (2.32%)

• Malahat & Area: 131 buyers (1.99%)

• Elsewhere in BC: 200 buyers (3.03%)

• North Island: 34 buyers (0.52%)

That means three out of every four buyers in our market already live right here in Greater Victoria.

Buyers From Elsewhere in Canada – 2025

Out-of-province buyers still play a meaningful role, especially for lifestyle and relocation purchases.

• Alberta: 207 buyers (3.14%)

• Ontario & Quebec: 177 buyers (2.69%)

• Saskatchewan: 25 buyers (0.38%)

• Manitoba: 25 buyers (0.38%)

• Atlantic Canada: 21 buyers (0.32%)

• Canadian North: 11 buyers (0.17%)

Together, buyers from outside BC represented 7.07% of all purchases in 2025.

Buyers From Outside Canada – 2025

International buyers are still a small part of the market, but they are growing again.

• United States: 92 buyers (1.40%)

• Europe: 9 buyers (0.14%)

• Asia: 1 buyer (0.02%)

• Other countries: 7 buyers (0.11%)

Total international buyers accounted for 1.65% of all purchases, nearly double last year’s share.

How This Compares to 2024

• Greater Victoria buyers increased from 73.07% to 75.97%.

• Lower Mainland buyers declined from 9.10% to 7.45%.

• International buyers rose from 0.94% to 1.65%.

In simple terms, the 2025 market became more locally driven, while long-distance Canadian demand softened slightly and overseas interest began to return.

What This Means for Sellers

If you’re selling in 2026, your most likely buyer based on last years’ info is not coming from Vancouver, Calgary, or Toronto — they’re already living here in Greater Victoria. Pricing, marketing, and presentation need to speak first to local move-up buyers, with lifestyle storytelling layered in for Alberta, Ontario, and U.S. interest.

Understanding who your buyer really is makes all the difference in how your home is positioned — and ultimately, how successfully it sells.

NOTE:  This information is based on data supplied by member REALTORS® who reported the unconditional sales of their listings during the reporting period. The answers supplied respond to the question: ‘Where is the buyer currently residing?’. This data cannot be used to deduce the nationality of the buyer.

I specialize in helping homeowners in Langford, Colwood and the Westshore understand how local price trends, inventory levels and buyer demand affect their property value — not just what’s happening across Greater Victoria.

If you’d like a neighbourhood-specific breakdown for your home or condo, feel free to reach out.

Cheryl Barnes
Westshore Real Estate Specialist
Macdonald Realty
📞 250-413-7943

Assessment notices for 2026 are out now — based on property values as of July 1, 2025. You should receive yours in the mail or online soon.

These assessments help your municipality calculate property taxes, and they give you a snapshot of how your home’s value compared to last year.

📅 Important: If you think your assessed value isn’t right, you have until January 31 to file a review with BC Assessment.

Curious how your number compares to others in your area? I can help break it down — just send me a message!

I specialize in helping homeowners in Langford, Colwood and the Westshore understand how local price trends, inventory levels and buyer demand affect their property value — not just what’s happening across Greater Victoria.

If you’d like a neighbourhood-specific breakdown for your home or condo, feel free to reach out.

Cheryl Barnes
Westshore Real Estate Specialist
Macdonald Realty
📞 250-413-7943

Yesterday I wrote about that quiet stretch of time where one chapter hasn’t quite ended and the next hasn’t fully begun. Today I’m still sitting with it — intentionally.

For the first time in a long time, I’ve chosen to feel the pause instead of rushing past it. No filling the space with noise. No forcing momentum. Just letting myself be in the in-between, even when it feels unfamiliar.

Lately, that pause has been filled with a kind of longing I didn’t expect. I find myself missing the old days — when my children were little, when life felt slower and louder all at once. I catch myself wishing I could go back for just a moment, to be in one of those quiet, sacred places that once held our small everyday magic.

The in-between doesn’t come with fireworks or fanfare. It feels like standing in a hallway with the lights dimmed, knowing you’re meant to walk through one of the doors, but not being sure which one yet. It can feel unproductive, even uncomfortable — like you should already have it figured out.

But this is where the real recalibration happens.

When you’re no longer chasing the old thing, but not yet committed to the new one, you finally get quiet enough to hear yourself again. You notice what feels heavy. What you’re done tolerating. What you’re ready to protect. The in-between is where your standards start to sharpen.

It’s where you stop asking, What do I want to do next? and start asking,
Who do I want to be when I get there?

There’s no checklist for this season. No timeline you can rush. It isn’t about forcing clarity — it’s about allowing it.

So if today feels slow, uncertain, or softly nostalgic, maybe that’s not a problem to fix. Maybe it’s the invitation. The pause before momentum. The breath before the shift.

I’m choosing to stay here just a little longer —
holding the memories gently, and trusting the next chapter is already forming.

There’s a strange, gentle feeling that settles in after the holidays.

The decorations are still up, the calendar hasn’t turned, and yet something has clearly ended. The rush is gone. The expectations have loosened their grip. The world feels quieter — not empty, just resting.

This is the in-between.

It isn’t the celebration.
It isn’t the resolution.
It’s the pause most of us rush past.

But this space between endings and beginnings is where the real work happens.

It’s where we notice what the year actually left behind — the lessons we didn’t recognize at the time, the strength that only became visible in hindsight, the relationships that deepened without ceremony.

The in-between doesn’t demand anything from us. It doesn’t ask for goals or declarations. It simply asks us to be present long enough to feel the shift.

Before the noise of the new year arrives, before the lists and promises begin, there’s this small, generous moment where nothing is required.

Just breath.
Just awareness.
Just gratitude for what carried us here.

I think we need this space more than we realize.

Because beginnings don’t start with momentum.

They start with stillness.