February in Greater Victoria has its own rhythm.
Some years (not this year), snowdrops begin appearing in neighbourhood gardens. Stormy seas draw walkers to Dallas Road. Coffee shops from Sidney to Sooke feel just a little busier on cool mornings. This year, we’ve already noticed early blossoms along View Street and the first bulbs showing colour on afternoon walks.
It’s also the time of year when the real estate market quietly begins to take shape.
January numbers give us the first meaningful snapshot of 2026 and help set expectations for the spring market ahead.
This Month Market Snapshot
Source: Victoria Real Estate Board (VREB) January 2026 Statistics Package – Released February 1, 2026
📊 Sales Activity
339 total properties sold (down 19.7% from January 2025)
153 single-family homes sold (down 21.1% year over year)
109 condominiums sold (down 25.3% year over year)
2,624 active listings at month end (up 9.6% from January 2025)
💰 Benchmark Prices – Victoria Core
Single-family benchmark: $1,265,500 (down 2.5% year over year)
Condominium benchmark: $537,800 (down 1.5% year over year)
⚖️ Market Conditions
With 339 sales and 2,624 active listings, the sales-to-active listings ratio sits near 13%.
Under BCREA guidelines:
Below 17% → Buyer’s market
17–20% → Balanced market
Above 20% → Seller’s market
At present, Greater Victoria is technically operating in buyer-leaning conditions.
That said, January is traditionally a slower month and does not define the full year.
What This Means for Buyers in Greater Victoria
More inventory compared to early 2025
Less upward price pressure than tight seller markets
Negotiation opportunities may be stronger — depending on property type and neighbourhood
Buyers who are prepared and pre-approved are in a stronger position than they were this time last year.
What This Means for Sellers
Accurate pricing is critical
Preparation and presentation directly impact results
Micro-markets matter
Greater Victoria is not one uniform market. Victoria Core, Oak Bay, Saanich East, Saanich West, Langford, Colwood, Sidney, Central Saanich, North Saanich, Sooke, and Esquimalt all behave slightly differently.
Certain segments, such as homes near strong school catchments or newer Westshore family properties — may outperform overall averages.
What This Means for Investors
Slower activity may create entry opportunities
Condo benchmarks show modest year-over-year softness
Waterfront and acreage segments saw fewer sales, detailed analysis is essential
Investing in Greater Victoria requires neighbourhood-specific insight, not just broad statistics.
Greater Victoria Events – February & March 2026
🎭 Victoria Film Festival
February 7–16, 2026
Various venues, including The Vic Theatre
Founded in 1995, this long-running cultural event remains a winter highlight.
Source: victoriafilmfestival.com
🌸 Victoria Orchid Show
Late February – G.R. Pearkes Recreation Centre
A favourite for gardeners and families.
Source: victoriaorchidsociety.com
🎶 Victoria Symphony Performances
Royal Theatre & Farquhar Auditorium
Various February/March dates
Source: victoriasymphony.ca
🏛 Royal BC Museum Exhibitions
Ongoing winter exhibits
Source: royalbcmuseum.bc.ca
⚽ Pacific FC – Preseason Updates
Starlight Stadium, Langford
Source: pacificfc.canpl.ca
🇨🇦 Family Day in BC
February 16, 2026
Provincial statutory holiday
Source: Government of British Columbia
(Always confirm event details directly with organizers.)
Greater Victoria Trivia
Which neighbourhood is home to the historic Craigdarroch Castle?
A) Oak Bay
B) Fairfield
C) Rockland
D) James Bay
(Answer below.)
This Month in Victoria History
Family Day in British Columbia is observed on the third Monday in February and was introduced provincially in 2013 to give families time together during the winter season.
Victoria’s winter tourism has long centred around cultural programming and storm watching along the coastline, including the well-established Victoria Film Festival.
Sources:
Government of BC
Victoria Film Festival
Seasonal Home Maintenance Tip – February
Moss & Gutter Check
February is peak moss season in coastal British Columbia due to prolonged damp conditions.
Main Recommendation
Inspect your roof and gutters for moss buildup and blocked drainage.
Why It Matters in Greater Victoria
Our coastal climate brings heavy moisture cycles. Blocked drainage can lead to:
Roof deterioration
Foundation moisture issues
Ice backup during cold snaps
(Source: BC Housing homeowner maintenance guidance)
Local Feature: Dallas Road Waterfront Trail
One of Greater Victoria’s most scenic walking routes.
Oceanfront views of the Strait of Juan de Fuca
Accessible pathways
Popular for walking, running, and storm watching
Dog-friendly areas (check signage)
Source: City of Victoria – Parks & Recreation
Trivia Answer
Correct Answer: C) Rockland
Craigdarroch Castle, built in the late 19th century by coal baron Robert Dunsmuir, is located in the Rockland neighbourhood.
Source: Craigdarroch Castle official site
Thinking About Your Next Move?
For Buyers
Personal strategy consultation
Neighbourhood shortlist review
Early access property alerts
📅 Book here:
https://api.leadconnectorhq.com/widget/booking/Z4i1Q0tRmkifm91Yc6VD
For Sellers
Updated home value review
Micro-market pricing analysis
Pre-listing preparation checklist
📞 250-213-9490
For Referrals
If you know someone considering a move to or from Greater Victoria, I’m always happy to provide a confidential consultation.
Disclaimer
Market statistics are based on data from the Victoria Real Estate Board MLS® system and are believed reliable but not guaranteed. Data may change and does not constitute financial, legal, or tax advice. Buyers and sellers should obtain professional advice tailored to their situation. Event details were accurate at time of publication; confirm directly with organizers. Not intended to solicit buyers or sellers currently under contract.