The Victoria Real Estate Board has released their statistics for the month of May. The following is an excerpt from their press release.
A total of 713 properties sold in the Victoria Real Estate Board region this May, 5.9 per cent fewer than the 758 properties sold in May 2025 and 10.9 per cent more than sold in April 2026. Sales of condominiums decreased by 14.9 per cent from May 2025, with 188 units sold. Sales of single family homes decreased by 4 per cent from May 2025, with 385 sold.
“There’s no more waiting – the spring market is here,” said Victoria Real Estate Board Chair Fergus Kyne. “With the most inventory for sale that our market has had in eleven years, we’re seeing buyers take advantage of the many homes to choose from. Buyer expectations around pricing and features have changed with market conditions and they have more time to make decisions and are viewing more properties. To meet buyer demands, motivated sellers need to enter the market with competitive pricing and an understanding of their property’s value in the current environment.”
There were 4,029 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2026, an increase of 8.6 per cent compared to the previous month of April and an 8.4 per cent increase from the 3,716 active listings for sale at the end of May 2025.
This chart tracks the ratio of total residential sales over total active residential listings at month-end for each of the last 25 months.
The active listing count and the sales count can be viewed as indicators of housing supply and demand respectively. Observing the ratio between them can thus help indicate a "buyers' market", where there is sustained downward pressure on prices, and a "sellers' market", where there is sustained upward pressure on prices.
- below 17%, there is downward pressure on prices (buyers' market)
- above 28%, there is upward pressure on prices (sellers' market)
- in the 17-28% range, there is little pressure on prices either way (balanced market)