Vancouver Island Real Estate Update: Market Shifts You Should Know

Here’s your latest real estate update for Vancouver Island — key trends, stats, and insights from recent board-level data. Whether you’re buying, selling, or just keeping an eye on the market, these figures matter.

🔍 Market Activity at a Glance

  • In September 2025, the Vancouver Island Real Estate Board reported 653 property sales, which is 3% higher than the same month last year.

  • Active listings across all property types fell to 4,293, marking a 4% drop compared to a year ago. 

  • This inventory figure suggests the market remains in a balanced state, with roughly six months of supply — a sweet spot where neither buyers nor sellers has a clear upper hand. 

💵 Pricing Trends: What’s Happening with Benchmarks

  • The benchmark price for a single-family home on the Island was ~$796,200 in September, slipping slightly compared to last year. Meanwhile, the benchmark for apartment units (condos) rose to about $416,600, up 3% year-over-year. 

  • Townhouse benchmark prices also inched up, though more modestly, showing steady interest in that segment. 📊 Sales Breakdown by Property Type

  • According to CREA data, there were 2,078 residential unit sales across Vancouver Island in Q3 2025, up 5.5% from Q3 2024. 

  • Sales of single detached homes jumped 9.4% year-over-year in that quarter.

  • The median price for a single detached home rose to $815,000, a 1.8% increase over Q3 last year.

  • On the flip side, apartment (condo) prices saw a dip — the median fell by 3.9% compared to Q3 2024, landing around $410,500. 

✅ What This Means for You

  • Buyers: With a balanced market and inventory declining, opportunities are stable — not ultra-competitive, but not stagnant either.

  • Sellers: If you’re considering listing, this is a favorable window. Pricing strategically could pay off, especially for single-family homes.

  • Investors: The rise in condo benchmark prices suggests continued strength in that sector, though the dip in median might signal shifts in where demand is strongest.

 

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