Housing market insights for Greater Victoria and Cowichan Valley
A brief explanation that the page provides the latest data and trends for both regions.
Current Market Snapshot
Updated March 2026
Greater Victoria
$1,330,200Benchmark Price (Single Family)
$553,800Benchmark Price (Condo)
3,261Active Listings
579Monthly Sales
Cowichan Valley
$751,800Benchmark Price (Single Family)
3,075Active Listings (Board Wide Indicator)
412Monthly Sales
BalancedMarket Conditions
Data Sources: Victoria Real Estate Board and Vancouver Island Real Estate Board.
Greater Victoria Market Overview
The Greater Victoria housing market showed renewed activity in February 2026, with 465 properties sold across the region.
Sales increased significantly compared with January, while inventory levels also rose, creating balanced conditions for buyers
and sellers. Active listings climbed to 2,903 properties, offering more choice in the market. Benchmark home prices remained
relatively stable year-over-year, with the benchmark value for a single-family home reaching $1,307,400.
$1,307,400
Benchmark Price (Single Family)
$545,600
Benchmark Price (Condo)
2,903
Active Listings
465
Properties Sold (Feb 2026)
Source: Victoria Real Estate Board Market Report – February 2026
Cowichan Valley Market Overview
The Cowichan Valley real estate market continues to attract buyers seeking lifestyle-oriented communities,
larger properties, and access to Vancouver Island’s natural landscapes. Market activity remained steady
through early 2026 with balanced conditions emerging as inventory levels improved. The benchmark price
for a single-family home in the region is approximately $751,800, reflecting stable pricing compared to
previous months. With more listings available and consistent demand, both buyers and sellers are finding
opportunities in the Cowichan Valley market.
$751,800
Benchmark Price (Single Family)
3,075
Active Listings (VIREB Region)
412
Properties Sold
Balanced
Market Conditions
Source: Vancouver Island Real Estate Board Market Statistics
Greater Victoria vs Cowichan Valley
Comparing the housing markets in Greater Victoria and Cowichan Valley helps relocation buyers understand
pricing, inventory levels, and market activity across Vancouver Island.
Metric
Greater Victoria
Cowichan Valley
Benchmark Price
$1,307,400
$751,800
Days on Market
28 Days
31 Days
Active Listings
2,903
3,075
Monthly Sales Activity
465 Properties Sold
412 Properties Sold
Data Sources: Victoria Real Estate Board & Vancouver Island Real Estate Board
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.