Nanaimo, BC
RESILIENT HOUSING MARKET CARRIES VIREB INTO THE FALL
In the single-family category (excluding acreage and waterfront), 307 homes sold in September, down four per cent from one year ago and nine per cent from August. Sales of condo apartments last month came in at 59, a decrease of 14 per cent year over year and a drop of 20 per cent from August. In the row/townhouse category, 79 units changed hands in September, down 13 per cent from one year ago and up 10 per cent from August.

VIREB Chair Olivier Naud notes that VIREB’s housing market, like last month, is in the mid-range of balanced, with approximately six months of inventory. Balanced markets offer the best of both worlds for buyers and sellers.

In Campbell River, the benchmark price of a single-family home was $706,200 last month, up two per cent from September 2024. The Comox Valley’s year-over-year benchmark price rose by two per cent to $846,000. In the Cowichan Valley, the benchmark price was $804,100, up four per cent from September 2024. Nanaimo’s year-over-year benchmark price increased by one per cent to $816,200, while the Parksville-Qualicum area saw its benchmark price increase by three per cent to $933,400. The cost of a benchmark single-family home in Port Alberni was $519,300, up four per cent from the previous year. For the North Island, the benchmark price of a single-family home dropped by one per cent to $449,400.

FULL REPORT HERE

Calgary, AB
Price declines mostly driven by higher density home types
Higher price adjustments are occurring for apartment and row style properties while detached and semi-detached properties have reported modest declines. As of August, the unadjusted total residential benchmark price was $577,200, down over last month and nearly four per cent lower than levels reported last year.

“Perspective is needed when it comes to price adjustments. The most significant price adjustments are occurring for row and apartment style homes as they are also the product type that are facing the largest gains in supply choice,” said Ann-Marie Lurie, Chief Economist at CREB®. “Meanwhile price adjustments in the detached and semi-detached markets range from modest price growth in some areas to larger price declines in areas with large supply growth. Overall, recent price adjustments have not offset all the gains that have occurred over the past several years.”

FULL REPORT HERE

Toronto, ON
September home sales increased in the Greater Toronto Area (GTA) compared to a year earlier, as more homebuyers sought to take advantage of more affordable monthly mortgage payments. Buyers continued to respond to substantial choice in the marketplace by negotiating the average selling price downward.
“The Bank of Canada’s September interest rate cut was welcome news for homebuyers. With lower borrowing costs, more households are now able to afford monthly mortgage payments on a home that meets their needs. Increased home purchases will also stimulate the economy through housing-related spin-off spending helping to offset the impact of ongoing trade challenges,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule.

FULL REPORT HERE

VANCOUVER, BC
Fall market favours buyers

“With another cut to Bank of Canada’s policy rate behind us, and markets pricing in at least one more cut by the end of the year, Metro Vancouver homebuyers have reason to be optimistic about the fall market,” said Andrew Lis, GVR’s director of economics and data analytics. “Easing prices, near-record high inventory levels, and increasingly favourable borrowing costs are offering those looking to purchase a home this fall with plenty of opportunity.”

The benchmark price for a detached home is $1,933,100. This represents a 4.4 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025.
The benchmark price of an apartment home is $728,800. This represents a 4.4 per cent decrease from September 2024 and a 0.8 per cent decrease compared to August 2025.
The benchmark price of a townhouse is $1,069,800. This represents a 2.7 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025.

FULL REPORT HERE

Nanaimo, BC
MARKET SLOWER THAN IN JULY BUT STILL AHEAD OF LAST YEAR
“August was slower than July, but that’s typical with back to school on the horizon,” says Naud. “However, sales were up from the previous August, and our market is proving to be resilient. There is pent-up demand but still some hesitancy that we attribute to ongoing tariff concerns.”
However, Naud adds that tariff worries have turned out to be more of a psychological deterrent than an economic one. The British Columbia Real Estate Association (BCREA) reports that the 35 per cent tariff is only on non-compliant goods, which is a very small share of exports (less than 10 per cent).
“The effective tariff rate on all Canadian exports to the United States is about five per cent only, and on U.S. imports to Canada, it’s about two per cent,” says Naud. “So, despite our initial fears, there has actually been minimal impact on growth or inflation.”

FULL REPORT HERE

Calgary, AB
Supply growth weighs on home prices
"Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years," said Ann-Marie Lurie, Chief Economist at CREB®. "The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts, which coincides with significant gains in new supply."  

FULL REPORT HERE

Toronto, ON
August home sales reported by the Toronto Regional Real Estate Board (TRREB) were up on a year-over-year basis. Over the same period, home buyers benefitted from an even larger increase in the inventory of listings. Average selling prices continued to be negotiated downward due to the elevated choice across market segments.

“Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits,” said TRREB President Elechia Barry-Sproule.

FULL REPORT HERE

VANCOUVER, BC
Easing home prices help lift sales in August

“Prices have eased around two per cent since the start of the year and are down about one per cent month over month in August, signaling that sellers have been willing to lower price expectations,” Lis said. “As sellers’ and buyers’ expectations have become more aligned, transaction volume has picked up. Newly listed properties remain in line with their ten-year seasonal average however, which when paired with increasing sales activity, is likely to diminish the available inventory. This also means the window of plentiful opportunity for buyers may soon begin closing if these trends continue.”

The benchmark price for a detached home is $1,950,300. This represents a 4.8 per cent decrease from August 2024 and a 1.2 per cent decrease compared to July 2025.
The benchmark price of an apartment home is $734,400. This represents a 4.4 per cent decrease from August 2024 and a 1.3 per cent decrease compared to July 2025.
The benchmark price of a townhouse is $1,079,600. This represents a 3.5 per cent decrease from August 2024 and a 1.8 per cent decrease compared to July 2025.

FULL REPORT HERE

Congratulations to my seller client! and also congratulations to the buyer of this incredible property! Sophie Gardner Team did a great job at representing the buyer. 

1416 Manzanita Rd, Cortes Island is now under contract! 

Wolf Bluff Castle: A Rare Cortes Island Property Sold

The five-storey Wolf Bluff Castle on Cortes Island, British Columbia has officially sold! Initially listed at $440,000, this remarkable property attracted national attention, including CTV News and my Instagram post.

Wolf Bluff Castle represents the ultimate unique island property in B.C., combining history, charm, and the opportunity for buyers seeking a renovation project.

Features of Wolf Bluff Castle: A B.C. Island Castle Like No Other

• Five-storey medieval-style architecture: Includes eight bedrooms, a dining hall, three turrets, and a dungeon.

• Historic construction by Karl Triller: The late builder, affectionately known as the “King of Cortes,” lived in a modest home on the property while crafting his castle vision.

• Additional structures: The property included Triller’s house, a workshop, and 1.97 acres of land, offering multiple possibilities for development or restoration.

• Utilities & renovation potential: Water and power are available, but there is no septic system — ideal for buyers interested in transforming a project into a dream home.

• Prime island location: Approximately a 15-minute walk from the Cortes Bay boat launch, perfect for buyers embracing remote island living in British Columbia.

The castle’s construction is reinforced with concrete-filled cinder blocks, ensuring a solid, durable foundation despite its unfinished interior.

The Story Behind Wolf Bluff Castle

As the listing realtor, I was drawn to Wolf Bluff Castle because of its unique character, history, and potential for restoration.

Karl Triller was a legendary figure on Cortes Island. In the 1990s and 2000s, he would put on a crown and host celebrations, food, and music for locals — earning him the title “King of Cortes.” Though the castle was unfinished, it remains a historic landmark in the B.C. island real estate market.

After gaining wide interest, the castle finally found a buyer, preserving this extraordinary piece of Cortes Island history.

Why Wolf Bluff Castle Was a Rare Opportunity

Wolf Bluff Castle illustrates the appeal of unique island properties for sale in B.C.:

1. Undervalued historic structures: Properties with character, history, or unusual architecture often attract buyers seeking something truly different.

2. Renovation potential: The castle was perfect for those willing to invest in a project, with opportunities to create a dream estate.

3. Island lifestyle: Remote yet accessible, Cortes Island offers natural beauty, privacy, and a strong sense of community.

For other examples of rare B.C. island properties, see my Unique Coastal Properties page.

Cortes Island Real Estate: What Buyers Should Know

Cortes Island has a year-round population of roughly 1,000 residents and is a popular destination for vacationers in summer. Real estate here moves differently than in urban areas — character and location often outweigh size or finishing.

For more guidance, explore my Cortes Island Homes for Sale page or learn how to Sell Your Island Home effectively.