07/29/2026
🏡 What’s Really Happening in the Vancouver Island Real Estate Market?
VIREB’s Q2 2026 report shows a market that is moving more slowly—but the story changes depending on the property and price range.
Here’s the simple breakdown:
📉 Sales have slowed.
Across the VIREB region, 2,153 residential properties sold during the second quarter—4.3% fewer than during the same period last year.
🏠 Buyers have more choice.
Inventory increased to approximately 4.7 months, giving buyers more time to compare properties, negotiate and focus on homes offering good value.
💰 Homes below $750,000 remain in demand.
Although the overall market is considered balanced, properties priced below $750,000 are still experiencing strong buyer interest. Homes from $750,000 to $1.5 million are in a more balanced market, while properties above $1.5 million generally favour buyers.
📍 What happened in Nanaimo?
• Single-family benchmark price: $816,400, down 1.6%
• Townhouse benchmark price: $525,100, unchanged
• Apartment benchmark price: $418,400, up 2.2%
• Single-family home sales declined 10.7%
✅ What does this mean for sellers?
Buyers are active, but they are cautious. Accurate pricing, thoughtful preparation and strong marketing are especially important. Homes that are well presented and clearly demonstrate value are best positioned to attract attention.
✅ What does this mean for buyers?
There is more selection and less pressure than in recent years, but affordable, well-priced homes can still sell quickly. Being prepared remains important when the right property comes along.
The market hasn’t stopped—it has simply become more selective and price-sensitive.
Wondering what these numbers mean for your home or your buying plans? Let’s have a conversation about your specific neighbourhood and price range.
Statistics from the Vancouver Island Real Estate Board Q2 2026 Market Overview.
