Victoria condo prices nearly double over the past decade

Condos in Victoria have nearly doubled in value over the past decade according to a new 10-year report by Zoocasa.

Over the past 10 years, Victoria recorded some of the most consistent returns among Western Canadian markets and the strongest condo performance in the entire study.

According to the study, the average condo price rose from $334,775 in 2016 to $667,906 in 2026—an increase of 99.5%.

Meanwhile, the average detached home climbed from $696,368 in 2016 to $1,280,146 in 2026, representing an 83.8% increase.

Between 2021 and 2026, condos saw a 36.2% increase, compared to 14.8% for detached homes, highlighting a growing trend of British Columbians opting for higher-density living in more expensive regions.

As a result, Victoria is one of only two markets—along with Toronto—where condos outperformed detached homes from 2021 to 2026. 

This growth stands out because many condo markets across Canada stalled in 2021 and were surpassed by detached housing, while Victoria’s condo market continued to gain momentum.

For buyers keeping an eye on the market, the report suggests condos have become an increasingly competitive option in Victoria—offering a more affordable entry point and property type that delivers strong returns.