The Victoria Real Estate Board has released its January 2026 market report, offering an early look at how the Greater Victoria housing market started the year. After several years of intense activity, this latest report points to a calmer and more balanced market that gives both buyers and sellers room to make thoughtful decisions.
Here is what the latest numbers mean and why they matter if you are watching the Victoria real estate market closely.
Sales Activity Slows at the Start of the Year
In January 2026, a total of 339 properties sold across the Victoria Real Estate Board region. This represents a noticeable decrease compared to January of last year and also reflects a slower pace than the previous month.
Lower sales at this time of year are not unusual. January is typically a quieter month, and this year followed that familiar seasonal pattern. Sales were down across most property types, including single family homes and condominiums.
More Listings Bring Balance to the Market
One of the most important takeaways from the January report is the increase in active listings. By the end of the month, there were over 2,600 properties available for sale across Greater Victoria.
More listings mean buyers have greater choice and less pressure to rush into decisions. For sellers, it means pricing and presentation matter more than ever. This shift in inventory has helped move the market toward a more balanced state, sitting between a seller focused market and a buyer focused one.
Home Prices Show Modest Softening
The MLS Home Price Index benchmark values showed slight year over year decreases for both single family homes and condominiums in several areas.
Rather than signaling a sharp decline, this price movement reflects a market adjusting after years of strong growth. With more inventory and slower sales, prices are responding in a more stable and predictable way.
What This Means for Buyers
For buyers, the January numbers bring encouraging news. Increased inventory offers more options, more time to compare properties, and a greater opportunity for negotiation. A balanced market allows buyers to approach the process with confidence rather than urgency.
This is an environment where preparation and local knowledge can make a big difference.
What This Means for Sellers
For sellers, the market is still active but more competitive. Homes that are priced accurately and marketed effectively continue to attract attention. With more listings available, standing out is key.
A balanced market rewards sellers who understand current conditions and work with professionals who know how to position their property properly.
A More Typical Market Moving Forward
Overall, the January 2026 report suggests that the Victoria real estate market is settling into a more typical rhythm. Inventory levels are healthier, pricing is more stable, and buyers and sellers alike have clearer expectations.
As the year progresses, factors like interest rates, economic conditions, and seasonal demand will continue to shape the market. For now, this report points to a steady and practical start to 2026.
Staying informed about monthly market updates like this one helps buyers and sellers make confident, well timed decisions in Greater Victoria real estate.
