Monthly Market Update
Monthly Market Update
April 2026
Happy Easter & Spring Market Update!
As we welcome the fresh energy of spring, we’d like to wish you and your family a very Happy Easter holiday! It’s also that time of year to open the windows, clear the clutter, and embrace a seasonal reset. Don’t forget—the Sidney by the Sea Rotary Club Shred Fest is coming up on April 18th, offering a great opportunity to safely dispose of old documents and kick off your spring cleaning the right way.
March 2026 Real Estate Market Snapshot
Vancouver Region
The Vancouver market continues to show signs of moderation:
• 2,967 MLS® sales in March, up 22% from February, but still one of the slowest March results in over 20 years.
• Sales were down 3% year-over-year, with:
- Condo sales ↓ 10%
- Townhomes ↓ 6%
- Detached homes ↑ 7%
• Overall activity remains 41% below the 10-year average, reflecting a more cautious market.
• Inventory sits at 7.3 months, indicating:
- Buyer-friendly conditions for detached homes
- Balanced conditions for condos and townhomes
Victoria Real Estate Market
Closer to home, the Victoria market is following a more typical seasonal pattern:
• 579 properties sold, down 5.5% from last year but up 24.5% from February
• Condo sales ↓ 18.8%, while single-family homes saw a modest ↓ 2.4%
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• Benchmark prices:
- Single-family home: $1,330,200 (↓ 1.1% YoY) - Condo: $553,800 (↓ 0.8% YoY)
Rental Market Insight
• Average asking rent in Canada dropped to $2,030, a 33-month low
• This marks the 17th consecutive annual decline
• However, rents are still about 14% higher , and some major cities are seeing short-term increases
What This Means for You
Spring is traditionally one of the busiest and most active times in real estate—and 2026 is shaping up to be no exception. With more listings available and balanced conditions emerging, it’s an ideal time to explore your options, whether you're buying, selling, or simply staying informed.
If you’re curious about how these trends affect your home or future plans, feel free to reach out. And as you tackle your spring cleaning, don’t forget to mark your calendar for the Shred Fest on April 18th!
Wishing you a joyful Easter and a fresh start this spring!
Michele Holmes, Mark Rice PREC and Eric Smith PREC Coldwell Banker Oceanside Real Estate
Helping clients on the Saanich Peninsula and across Greater Victoria make confident, informed decisions in every market. Want to learn
