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SEPTEMBER 2026 MARKET UPDATE

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) recorded 562 unit sales (all property types) in September 2026, down 13 per cent from one year ago. Year-over-year active listings (all property types) were 4,457, up four per cent from the previous year.

In the single-family category (excluding acreage and waterfront), 279 homes sold in September 2026, a decrease of eight per cent from one year ago and down six per cent from last month. Sales of condo apartments in September came in at 55, down seven per cent from last year and 21 per cent from August. In the row/townhouse category, 50 units changed hands in September, a drop of 36 per cent from one year ago and down 37 per cent from August.

Active listings of single-family homes were 1,458 in September, up from 1,424 one year ago. VIREB’s inventory of condo apartments was 359 last month, dropping from the 390 properties listed in September 2025. There were 332 row/townhouses for sale last month compared to 341 the previous year.

“Our housing market has weathered a lot of economic uncertainty over the past year, but we’re beginning to see those challenges have a greater influence on buyer confidence,” said Jason Yochim, VIREB Chief Executive Officer.

Yochim noted that the VIREB area has moved into buyer’s market territory, giving purchasers plenty of choice. He added that while benchmark prices have remained relatively flat across most markets, sellers who price competitively continue to have the greatest success.

“Buyers are taking their time and looking for the right property at the right price,” said Yochim. “Well priced homes, particularly those in high demand, continue to move. Sellers need to be realistic about where the market is today, not where it was a few years ago.”

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 $777,300 in September 2026, down one per cent from one year ago and one per cent from August. In the apartment category, the benchmark price was $401,700 last month, a drop of four per cent year over year and down $200 from August. The benchmark price of a townhouse in September was $557,000, up one per cent from one year ago and one per cent from August.

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 2026 Statistics Package

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