Spring is traditionally the busiest season in real estate, and 2026 is shaping up to be no exception. In my last post, I talked about how sellers can use this time for a "February Fix-Up." But if you are on the other side of the transaction—looking to buy your first home, upgrade, or relocate to our beautiful coast—you need a strategy of your own.
The frantic "bidding war" energy of the past few years has settled into something more recognizable: a balanced market. Here is what that means for you and how you can position yourself for success in Campbell River and Quadra Island this spring.
The 2026 Market: Stable & Balanced
As we head into spring, the keywords are stability and choice.
Inventory is Healthy: For the first time in a decade, we are seeing inventory levels across Vancouver Island return to historical norms. This is great news for buyers—it means you finally have the luxury of time to view multiple properties without feeling pressured to write an unconditional offer in the driveway.
Pricing: Benchmark prices for single-family homes in Campbell River are hovering comfortably in the $670,000 – $700,000 range. We aren't seeing the sky-high spikes of previous years, but prices remain resilient.
Interest Rates: With the Bank of Canada holding the policy rate at 2.25% to start the year, mortgage rates have found a "new normal." Five-year fixed rates are generally sitting in the high-3% to low-4% range. While this isn't the emergency-low pricing of 2020, it is a stable environment that allows for predictable budgeting.
Your Buyer Strategy Checklist
Even in a balanced market, the best properties still move quickly. Here is how to be ready:
1. Update Your Pre-Approval If you were pre-approved last fall, get it refreshed. Rates have stabilized, but lending criteria can shift. Ensure you know exactly what your purchasing power is today so you can move with confidence when the right listing hits.
2. Maximize Your Incentives Make sure you are taking full advantage of the government programs available in 2026:
FHSA (First Home Savings Account): If you haven't opened one yet, do it now. It combines the tax deduction of an RRSP with the tax-free withdrawal of a TFSA.
RRSP Home Buyers' Plan: Remember, the withdrawal limit is now $60,000.
BC Home Owner Grant: The threshold for 2026 has been adjusted to $2.075 million. While this likely won't affect most first-time buyers in our area, it’s good to know that your property taxes will likely still be eligible for the full grant.
3. Define Your "Must-Haves" vs. "Nice-to-Haves" In 2026, we are seeing a shift in what buyers value most:
Income Helpers: With the cost of living in mind, properties with legal suites or carriage homes are at the top of the list to help offset mortgage payments.
Work-from-Home Space: Dedicated office space remains a priority for the many remote workers moving to the coast.
"Wet Gear" Zones: We live in a rainforest! Mudrooms with durable storage for gumboots and rain jackets are a huge lifestyle plus.
Local Spotlight: Infrastructure & Due Diligence
For Quadra Island Buyers: You likely saw my post in December about wells and septic systems—that due diligence is non-negotiable. But also keep an eye on the ferry terminal upgrades happening at Heriot Bay and Whaletown this spring. While construction can be a temporary headache, the long-term payoff is better reliability and capacity for our island communities.
For Campbell River Buyers: The city is investing heavily in lifestyle infrastructure. Keep an eye on neighborhoods near Nunns Creek Park, which is slated for major enhancements this year, including upgraded fields and festival areas. Buying near improving infrastructure is always a smart long-term equity play.
The Bottom Line
Spring 2026 offers a "Goldilocks" window for buyers: enough inventory to find what you want, but enough stability to make a calm, informed decision.
Don't wait for the "perfect" time—the market is balanced now. If you are ready to start your search, let’s sit down for a consultation and build a plan that gets you into your new home before summer.
Roman Krzaczek Your Local Expert for Quadra Island 📞 604-787-4594 ✉️ Contact Me Here
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