Market Intelligence

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The Greater Victoria and Cowichan Valley markets are always moving. Request a personalized market update and get the latest insights, trends, and opportunities delivered straight to you.

What's Included in Your Market Update

Benchmark Pricing

Current single family, condo, and townhome benchmark prices across Greater Victoria and Cowichan Valley.

Market Trend Analysis

Is it a buyer's or seller's market right now? We explain what's driving prices and what it means for you.

Active Listings & Sales Activity

How much inventory is out there, how fast homes are selling, and what the absorption rate tells us.

Neighbourhood-Level Insights

Specific data for the communities you're interested in — not just regional averages.

Expert Local Guidance

Peter Pfann's interpretation of what the data means for buyers and sellers in today's market.

Updated Monthly

Fresh data every month so you're always working with the most current picture of the market.

No Obligation. Just Valuable Insights.

No spam. Just accurate, local market information you can rely on to make confident decisions.

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Market Update

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Market information is provided for general educational purposes only and is based on sources believed reliable, including VREB, VIREB, CREA, BCREA, and MLS® data where applicable. Market conditions change frequently and information should be independently verified before making real estate decisions.

Greater Victoria

Greater Victoria Market Overview

Greater Victoria is one of Canada's most consistently in-demand real estate markets. From the urban core of Downtown and Fairfield to established neighbourhoods like Oak Bay and Saanich, the region offers a wide range of property types and price points — all shaped by limited land supply, strong lifestyle appeal, and steady demand from buyers relocating from across Canada.

Single Family Homes

Benchmark pricing for detached homes across the Greater Victoria region, tracked monthly.

Condos & Townhomes

Condo benchmark data reflecting urban demand close to downtown and transit corridors.

Active Inventory

How much is available, and whether conditions favour buyers or sellers right now.

Monthly Sales Volume

Properties sold each month — the clearest signal of real buyer activity in the market.

Source: Victoria Real Estate Board (VREB) — data updated monthly

Cowichan Valley

Cowichan Valley Market Overview

The Cowichan Valley offers a compelling alternative to Greater Victoria — more space, more affordability, and a relaxed lifestyle surrounded by vineyards, lakes, and natural landscapes. Communities like Duncan, Cobble Hill, Shawnigan Lake, and Lake Cowichan attract buyers seeking value without sacrificing proximity to Victoria. It remains one of Vancouver Island's most active and growing real estate markets.

Single Family Homes

Benchmark pricing for detached homes across the Cowichan Valley's communities and sub-areas.

Acreage & Rural Properties

Land and acreage data reflecting growing demand for space and rural lifestyle properties.

Active Inventory

Listing volumes and absorption rates across Zone 3 and surrounding Cowichan sub-markets.

Monthly Sales Volume

Monthly transaction counts (Zone 3) showing real buyer activity in the Cowichan market.

Source: Vancouver Island Real Estate Board (VIREB) — data updated monthly

Understanding Market Metrics

Real estate market reports include several key metrics that help buyers, sellers, and investors understand current housing trends. Below are explanations of the most commonly used indicators in Vancouver Island market reports.

Average Price

The average price represents the total value of all homes sold during a specific period divided by the number of properties sold. This number can fluctuate if a large number of high-value or low-value homes sell in a month.

Benchmark Price

The benchmark price is calculated using the MLS® Home Price Index and reflects the value of a typical home in a specific market. It is considered the most reliable way to track price trends because it removes extreme price variations.

Days on Market

Days on market measures how long it takes for homes to sell after being listed. Lower numbers usually indicate strong buyer demand, while higher numbers suggest a slower market with more negotiating room for buyers.

Active Listings

Active listings represent the total number of properties currently available for sale. Rising inventory often means buyers have more options, while low inventory can lead to increased competition and faster sales.

Absorption Rate

The absorption rate measures how quickly homes are selling compared to the number of available listings. It helps determine whether the market favors buyers, sellers, or is balanced between the two.

Definitions based on reporting standards from the Victoria Real Estate Board and Vancouver Island Real Estate Board.

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.