Greater Victoria’s housing market picked up in October. The Victoria Real Estate Board (VREB) recorded 573 sales across its region, up 23.8% from 463 in September. October sales were still 7.1% below October 2025 and close to the five-year October average of 581. The rebound tells us more about how busy the market was than where prices are headed.

Buyers still have options

October ended with 3,594 active listings, down 5.7% from September but up 5.0% from a year earlier. VREB described October’s regional market as balanced. Your own search may feel different: a well-priced home in a neighbourhood with few comparable listings can draw competition even when buyers have plenty of options across the region.

Sales volume and prices tell different stories

Sales volume counts how many properties changed hands. The MLS® Home Price Index benchmark tracks the value of a typical home within a defined area and property type. In the Victoria Core, the single-family benchmark rose from $1,280,100 in September to $1,288,600 in October, up 0.7% year over year. The condo benchmark fell from $547,800 to $533,900, down 2.8% year over year. Those two moves happened during the same sales rebound.

What to do if you’re buying

Look at recent sales for the same property type and neighbourhood before deciding what to offer. Compare those sales with similar homes still on the market, and check how long they’ve been listed and whether asking prices have changed. That gives you a better sense of where you have room to negotiate and where you may need to move quickly.

Set a comfortable monthly budget before you shop. Include property taxes, insurance and any strata fees, and leave room for maintenance and closing costs. If you’d like help working through those numbers before you make an offer, get in touch.

Source: Victoria Real Estate Board, October 2026 market report, released November 2, 2026.