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NOVEMBER 2025 MARKET UPDATE

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) recorded 513 unit sales (all property types) in November 2025, down eight per cent from one year ago. Year-over-year active listings (all property types) were 3,646, up five per cent from the previous year.

In the single-family category (excluding acreage and waterfront), 259 homes sold in November, down one per cent from one year ago and 18 per cent from October. Sales of condo apartments last month came in at 50, a decrease of 19 per cent year over year and a drop of 28 per cent from October. In the row/townhouse category, 53 units changed hands in November, down 29 per cent from one year ago and 32 per cent from October.

Active listings of single-family homes were 1,121 last month compared to 1,105 in November 2024. VIREB’s inventory of condo apartments was 346 in November, down from the 314 listings posted one year ago. There were 310 row/townhouses for sale last month compared to 257 in November 2024.

“VIREB’s housing market remains relatively stable, with sales sitting just below the ten-year average and conditions at the high end of balanced territory,” says VIREB CEO Jason Yochim. “Although sales of single-family homes, condo apartments, and row/townhouses dipped in November, that’s typical for this time of year as buyers and sellers slow down for the holidays.”

Yochim notes that with no Bank of Canada rate cuts expected—and with cuts unlikely unless the economy weakens significantly—VIREB doesn’t foresee any major shifts in local market dynamics.

“While federal measures announced in 2025 aim to boost housing supply, they’re unlikely to influence our local market in 2026. Despite broader uncertainties, VIREB’s market proved more resilient than Vancouver and the Lower Mainland this year, and we expect that stability to continue into 2026,” adds Yochim.

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®.

NOVEMBER 2025 Statistics Package

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