MARKET REMAINS RESILIENT AS BUYERS TAKE MEASURED APPROACH

The Vancouver Island Real Estate Board (VIREB) recorded 651 unit sales (all property types) in August 2026, down four percent from one year ago. Year-over-year active listings (all property types) were 4,498, up two percent from the previous year.

In the single-family category (excluding acreage and waterfront), 298 homes sold in August 2026, down 11 per cent from one year ago and a drop of 19 per cent from last month. Sales of condo apartments in August came in at 70, down four per cent from last year and one per cent from July. In the row/townhouse category, 79 units changed hands in August, up 11 percent from one year ago and down two
percent from July.

Active listings of single-family homes were 1,468 in August, up from 1,424 one year ago. VIREB’s inventory of condo apartments was 356 last month, dropping from the 396 properties listed in August 2025. There were 304 row/townhouses for sale last month compared to 355 the previous year.

“While sales activity eased in August, our housing market continues to demonstrate resilience compared to many other regions in British Columbia,” said Jason Yochim, VIREB Chief Executive Officer.

Yochim noted that buyers remain active but are taking a measured approach to purchasing decisions, often willing to wait until they find a property that meets their needs. He added that while ongoing trade uncertainty continues to affect B.C.’s economy, its impact on the housing market has so far been limited. “Today’s buyers have options and are carefully weighing their decisions, which makes accurate pricing
more important than ever,” said Yochim. “Properties that are well presented and priced appropriately continue to attract interest, while buyers remain willing to walk away from homes that don’t meet their expectations.”

Yochim added that no matter the market conditions, a local REALTOR® brings on-the-ground knowledge of their community, which can help clients make informed decisions when buying or selling a home.

Moving on to prices, the board-wide benchmark price (MLS® Home Price Index) of a single-family home was $788,100 in August 2026, a slight uptick from one year ago and a drop of one percent from July. In the apartment category, the benchmark price was $401,900 last month, down one percent year over year and one percent from July. The benchmark price of a townhouse in August was $550,000, up one percent from one year ago and a slight increase from July.

In Campbell River, the benchmark price of a single-family home was $690,000 last month, up one percent from August 2025. The Comox Valley’s year-over-year benchmark price dropped by one percent to $845,400. In the Cowichan Valley, the benchmark price was $779,300, up one per cent from August 2025. Nanaimo’s year-over-year benchmark price increased by one percent to $820,100, while the ParksvilleQualicum area saw its benchmark price increase by one percent to $926,800. The cost of a benchmark single-family home in Port Alberni was $512,600, down three percent from the previous year. For the North Island, the benchmark price of a single-family home increased by three percent to $481,700.

(Press release courtesy of the Vancouver Island Real Estate Board)