Blog

OCTOBER 2026 MARKET UPDATE

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) recorded 582 unit sales (all property types) in October 2026, down nine per cent from one year ago. Year-over-year active listings (all property types) were 4,173, up nine per cent from the previous year.

In the single-family category (excluding acreage and waterfront), 298 homes sold in October 2026, a decrease of four per cent from one year ago and up seven per cent from last month. Sales of condo apartments in October came in at 56, down 19 per cent from last year and up two per cent from September. In the row/townhouse category, 49 units changed hands in October, a drop of 38 per cent from one year ago and down two per cent from September.

Active listings of single-family homes were 1,319 in October, up from 1,224 one year ago. VIREB’s inventory of condo apartments was 353 last month, dropping from the 362 properties listed in October 2025. There were 317 row/townhouses for sale last month compared to 319 the previous year.

“There’s still interest in the market, but there’s also a noticeable sense of caution among consumers right now,” said Jason Yochim, VIREB Chief Executive Officer.

Yochim noted that buyers have plenty of options in many Vancouver Island communities and are taking their time before making a decision. However, he added that October brought a modest increase in sales activity, a sign that buyers remain engaged despite ongoing economic uncertainty.

“People don’t appear to be rushing into major financial decisions,” said Yochim. “Buyers are doing their homework, comparing what’s available, and waiting until they feel comfortable making a move. At the same time, well-priced properties continue to attract interest, which shows there are buyers in the market when the value is there.”

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 $780,400 in October 2026, down one per cent from one year ago and up one per cent from September. In the apartment category, the benchmark price was $400,000 last month, a drop of three per cent year over year and down one per cent from September. The benchmark price of a townhouse in October was $579,800, up six per cent from one year ago and four per cent from September.

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®.

OCTOBER 2026 Statistics Package

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