Blog

MARCH 2026 MARKET UPDATE

NANAIMO, BC – he Vancouver Island Real Estate Board (VIREB) recorded 636 unit sales (all property types) in March 2026, up one per cent from one year ago. Year-over-year active listings (all property types) were 3,776, up two per cent from the previous year.

In the single-family category (excluding acreage and waterfront), 302 homes sold in March 2026, up two per cent from one year ago and an increase of 32 per cent from February 2026. Sales of condo apartments last month came in at 72, decreasing by 15 per cent year over year and up 53 per cent from February. In the row/townhouse category, 71 units changed hands in March, down three per cent from one year ago and up 29 per cent from February

Active listings of single-family homes were 1,193 in March, up from 1,162 one year ago. VIREB’s inventory of condo apartments was 363 last month, down from the 408 properties listed in March 2025. There were 333 row/townhouses for sale last month compared to 317 the previous year.

“Sales were slightly lower than this time last year but picked up noticeably from February, which is typical as we move toward the spring market,” said Jason Yochim, Chief Executive Officer. “While there is pent-up demand, some potential buyers are taking a cautious approach, choosing to wait until the timing feels right.”

Yochim noted that despite some hesitation among buyers, Vancouver Island’s housing market continues to show stability compared to other regions in the province.

“Our market has historically been quite stable, and we’re seeing that continue,” says Yochim. “Vancouver Island remains a highly desirable place to live, particularly for retirees, which helps support demand even during periods of uncertainty. Although buyers may be taking a bit more time, the fundamentals of our market remain strong.”

Moving on to prices, the board-wide benchmark price (MLS® Home Price Index) of a single-family home was $780,500 in March 2026, unchanged from one year ago and up one per cent from February. In the apartment category, the benchmark price was $390,000 last month, down four per cent year over year and a dip of two per cent from February. The benchmark price of a townhouse in March was $537,000, down two per cent from one year ago and slightly lower than in February

Regardless of market conditions, connecting with a local REALTOR® can help you understand current market conditions and smooth the way to a successful real estate transaction.

For more information and full update, check out the following resources on REALTOR Link®.

MARCH 2026 Statistics Package

Our MARCH 2026 Market Update is provided above and available on YouTube; it summarizes our housing market in about two minutes.