MONTHLY STATISTICS UPDATE FOR JULY 2026
Posted by Team Biberger on
JULY 2026 MARKET UPDATE
NANAIMO, BC –The Vancouver Island Real Estate Board (VIREB) recorded 707 unit sales (all property types) in July 2026, down 11 per cent from one year ago. Year-over-year active listings (all property types) were 4,598, up two per cent from the previous year.
In the single-family category (excluding acreage and waterfront), 366 homes sold in July 2026, down 12 per cent from one year ago and a drop of 11 per cent from last month. Sales of condo apartments in July came in at 71, unchanged from last year and down 15 per cent from June. In the row/townhouse category, 81 units changed hands in July, down 13 per cent from one year ago and 10 per cent from June.
Active listings of single-family homes were 1,474 in July, down from 1,483 one year ago. VIREB’s inventory of condo apartments was 360 last month, dropping from the 424 properties listed in July 2025. There were 341 row/townhouses for sale last month compared to 354 the previous year.
“While our spring and summer housing market was slow to get off the ground this year, July showed encouraging signs of improvement, with REALTORS® across the VIREB area reporting increased activity,” said Jason Yochim, VIREB Chief Executive Officer.
Yochim noted that while sales were lower than in July 2025, the VIREB market remains balanced and is picking up, with more active listings. However, Canada’s stronger-than-expected economy means significant mortgage-rate relief is unlikely in the near term.
“We’re seeing the most activity in the $500,000 to $750,000 price range, which underscores the importance of pricing a home appropriately,” said Yochim. “Buyers aren’t in a hurry and are willing to wait for the right property, so sellers need to be realistic about market value in today’s environment.”
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 $794,500 in July 2026, up one per cent from one year ago and one per cent from June. In the apartment category, the benchmark price was $407,300 last month, up one per cent year over year and a slight decrease from June. The benchmark price of a townhouse in July was $548,900, down slightly from one year ago and a small dip from June.
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®.
Our JULY 2026 Market Update is provided above and available on YouTube; it summarizes our housing market in about two minutes.