Vancouver Island Real Estate Board Reports July 2026 Market Trends

Vancouver Island Real Estate Board — July 2026

The Vancouver Island Real Estate Board (VIREB) recorded 707 unit sales in July 2026, reflecting an 11% decrease from the previous year. Active listings totaled 4,598, marking a 2% increase year-over-year, with a months of inventory standing at 6.5.

Market Analysis

The real estate market on Vancouver Island continues to show signs of a buyer's market, with total sales declining from 782 in June to 707 in July. This decrease in sales is accompanied by a slight increase in active listings, which rose from 4,637 in June to 4,598 in July. The months of inventory has also increased from 5.9 to 6.5, indicating that buyers have more options available, which may lead to longer selling times for properties. Despite the lower sales figures, the market remains balanced, and REALTORS® are reporting increased activity, suggesting a potential shift in buyer sentiment as the summer progresses.

Property Type Analysis

In the single-family home category, the benchmark price stands at $686,800, while the benchmark for townhouses is $548,900. Although specific sales figures for these categories are not available, the overall trend indicates a cautious buyer sentiment, particularly in the mid-range price segment of $500,000 to $750,000. The apartment category remains unreported for July, highlighting a gap in data that could provide further insights into market dynamics.

Regional Highlights

Regionally, the benchmark price for single-family homes in Campbell River is $686,800, reflecting a 1% increase from last year. The Comox Valley sees a benchmark price of $859,600, while the Cowichan Valley reports $788,700, both showing slight year-over-year increases. Nanaimo's benchmark price has also risen by 1% to $822,200, indicating stable demand in these areas despite the overall decrease in sales.

For Buyers

Potential buyers are encouraged to remain patient and conduct thorough research, as the current market conditions favor buyers with more inventory available. It is advisable to work closely with a local REALTOR® to identify properties that meet their needs and to understand the nuances of pricing in today's market.

For Sellers

Sellers should be realistic about their pricing strategies, as the current market dynamics indicate that buyers are not in a hurry and are willing to wait for the right property. Engaging a local REALTOR® can provide valuable insights into setting an appropriate price and marketing strategy to attract potential buyers effectively.