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SEPTEMBER 2025 MARKET UPDATE

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) recorded 653 unit sales (all property types) in September 2025, up three per cent from one year ago. Year-over-year active listings (all property types) were 4,293, down four per cent from the previous year.

In the single-family category (excluding acreage and waterfront), 307 homes sold in September, down four per cent from one year ago and nine per cent from August. Sales of condo apartments last month came in at 59, a decrease of 14 per cent year over year and a drop of 20 per cent from August. In the row/townhouse category, 79 units changed hands in September, down 13 per cent from one year ago and up 10 per cent from August.

Active listings of single-family homes were 1,424 last month compared to 1,586 in September 2024. VIREB’s inventory of condo apartments was 390 in September, down from the 410 listings posted one year ago. There were 341 row/townhouses for sale last month compared to 335 in September 2024.

VIREB Chair Olivier Naud notes that VIREB’s housing market, like last month, is in the mid-range of balanced, with approximately six months of inventory. Balanced markets offer the best of both worlds for buyers and sellers.

“Now that school is back in session, many families are shifting back into their routines, and that’s reflected in our housing market as well,” says VIREB Chair Olivier Naud. “Prices across our region remain relatively flat, underscoring the market’s resilience. While economic headwinds persist, people are still moving on with their lives and making housing decisions that fit their needs.”

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®.

SEPTEMBER 2025 Statistics Package

Our SEPTEMBER 2025 Market Update is provided above and available on YouTube; it summarizes our housing market in about two minutes.

Please note: The Vancouver Island Real Estate Board (VIREB) transitioned to a new MLS® System in July 2020 and now uses a significantly different data model, which has affected our categories and terminology. For the boardsupplied graphs, single-family is now referred to as single-family detached, apartment as condo apartment, and townhouse as row/townhouse, which now includes patio homes. However, when reporting HPI numbers, VIREB still refers to single-family, apartment, and townhouse in the media release.