10/05/2026
MARKET REPORT
REALISTIC PRICING KEY IN BUYER'S MARKET
NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) recorded 562 unit sales (all property types) in September 2026, down 13 percent from one year ago. Year-over-year active listings (all property types) were 4,457, up four percent from the previous year.
In the single-family category (excluding acreage and waterfront), 279 homes sold in September 2026, a decrease of eight percent from one year ago and down six percent from last month. Sales of condo apartments in September came in at 55, down seven percent from last year and 21 percent from August. In the row/townhouse category, 50 units changed hands in September, a drop of 36 percent from one year ago and down 37 percent from August.
Active listings of single-family homes were 1,458 in September, up from 1,424 one year ago. VIREB’s inventory of condo apartments was 359 last month, dropping from the 390 properties listed in September 2025. There were 332 row/townhouses for sale last month compared to 341 the previous year.
Moving on to prices, the board-wide benchmark price (MLS® Home Price Index) of a single-family home was $777,300 in September 2026, down one percent from one year ago and one percent from August. In the apartment category, the benchmark price was $401,700 last month, a drop of four percent year over year and down $200 from August. The benchmark price of a townhouse in September was $557,000, up one percent from one year ago and one percent from August.
In Campbell River, the benchmark price of a single-family home was $680,900 last month, a slight decrease from September 2025. The Comox Valley’s year-over-year benchmark price increased by one percent to $848,900. In the Cowichan Valley, the benchmark price was $774,300, down one percent from September 2025. Nanaimo’s year-over-year benchmark price decreased by two percent to $798,400, while the Parksville-Qualicum area saw its benchmark price drop by three percent to $896,200. The cost of a benchmark single-family home in Port Alberni rose slightly to $522,000 from the previous year. For the North Island, the benchmark price of a single-family home increased by six percent to $474,600.
Source: VIREB October 1, 2026 Media Release (Condensed)