October 2026 | Greater Victoria Real Estate Market Update

If you've been thinking about purchasing an investment property in Greater Victoria, this could be an excellent time to start exploring your options.

According to the Victoria Real Estate Board's September 2026 market report, the market is showing signs of shifting in favour of buyers. With more properties available and fewer sales compared to last year, buyers may find themselves in a stronger position to negotiate.

And for anyone considering real estate as a long-term investment, that's worth paying attention to.

What's Happening in the Victoria Real Estate Market?

The September 2026 statistics tell an interesting story:

• 463 properties sold throughout the Victoria Real Estate Board region, a 16.4% decrease compared with September 2025.

• 3,811 active listings at the end of September, giving buyers more properties to consider.

• More negotiating opportunities may be emerging as some properties spend longer on the market.

The Victoria Real Estate Board has described regional market conditions as moving toward buyer's market territory.

That doesn't mean every neighbourhood or property type is experiencing the same conditions, but it does suggest a changing landscape for purchasers.

Why This Could Be an Opportunity for Real Estate Investors

When the market slows, many buyers take a wait-and-see approach.

However, experienced investors often recognize that a quieter market can present opportunities worth investigating.

1. More Properties to Choose From

With increased inventory, buyers may have more time to compare properties, evaluate rental potential and find something that meets their investment goals.

2. Greater Negotiating Power

Depending on the property, its asking price and how long it has been listed, there may be opportunities to negotiate more favourable terms.

3. Time to Do Your Homework

A less competitive market can provide more breathing room to complete inspections, review strata documents, assess rental income and evaluate the long-term costs of ownership.

4. Long-Term Investment Potential

Real estate can be an important part of a long-term wealth-building strategy. The key is purchasing the right property, at the right price, with realistic expectations about expenses, financing and rental income.

Where Should Investors Be Looking?

I work with buyers and sellers throughout Greater Victoria, including Victoria, Saanich, Langford, Colwood, View Royal and the surrounding communities.

There are several property types worth considering:

• Condominiums: Potentially attractive entry points for investors, provided the strata bylaws, monthly fees and rental economics make sense.

• Townhomes: An option for investors looking to attract tenants who need more living space.

• Homes with suites: Properties offering secondary accommodation may provide additional rental-income opportunities, subject to local regulations and financing requirements.

• Properties requiring cosmetic updates: Some homes may offer opportunities to add value through thoughtful improvements.

Every investment is different. Rental restrictions, vacancy risk, maintenance costs, insurance, taxes and financing all need to be carefully considered before making a purchase.

You Don't Have to Wait for the Market to Turn

One of the biggest challenges in real estate is knowing when to make a move.

It's nearly impossible to identify the perfect bottom of any market.

Rather than trying to time the market, I encourage buyers to focus on the fundamentals: location, property condition, rental demand, cash flow and long-term affordability.

A good investment should make sense based on today's numbers — not just the hope that property values will increase.

Let's Explore Your Options

Whether you're purchasing your first investment property, adding to an existing portfolio or simply curious about what opportunities are available, I'd be happy to help.

We can review current listings, compare neighbourhoods and identify properties that may suit your investment goals.

Cheryl Barnes | REALTOR®
Macdonald Realty
250-413-7943
www.cherylbarnes.ca

Serving Greater Victoria, the Westshore and Vancouver Island.

Market statistics sourced from the Victoria Real Estate Board, September 2026. Market conditions vary by neighbourhood and property type. Real estate investments involve financial risk, and buyers should obtain independent financial, tax and legal advice where appropriate.