Vancouver Island Real Estate Board Market Overview
Q3 2026
Q3 2026
Residential sales across the Vancouver Island Real Estate Board (VIREB) region lost momentum during the third quarter of 2026 after tracking doser to 2025 levels earlier in the year. A total of 1,785 properties sold between July and September, generating $1.37 billionin sales volume.
This represented year-over-year delines of 11.1% in transactions and 11.5% in sales value. Affordability challenges, weaker employment conditions and economic uncertainty continue to weigh on buyer confidence.
This represented year-over-year delines of 11.1% in transactions and 11.5% in sales value. Affordability challenges, weaker employment conditions and economic uncertainty continue to weigh on buyer confidence.
Vancouver Island, excluding the Victoria CMA, continues to rely heavily on domestic migration, particularly from elsewhere in British Columbia. This remains an important source of housing demand. However, completing transactions has become more challenging in recent months.
Anecdotally, more offers are conditional on the sale of an existing home, sometimes in markets outside the VIREB region that are also experiencing weaker conditions. This has created transaction chains and greater uncertainty. Despite these challenges, continued migration from
elsewhere in British Columbia should provide underlying support for housing demand over the longer term.
Anecdotally, more offers are conditional on the sale of an existing home, sometimes in markets outside the VIREB region that are also experiencing weaker conditions. This has created transaction chains and greater uncertainty. Despite these challenges, continued migration from
elsewhere in British Columbia should provide underlying support for housing demand over the longer term.
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