As we move into Fall 2025, the housing market across British Columbia and especially on Vancouver Island is showing signs of balance and moderation — offering opportunities for both buyers and sellers.
In the region served by Vancouver Island Real Estate Board (VIREB), the benchmark price for a single-family home in October 2025 was about $795,900, a modest increase (≈ 2% year-over-year in some areas), indicating some price stability. CREA Stats+1
For condos and apartment-style properties, benchmark prices also saw a modest increase year-over-year. CREA Stats+1
The number of active listings remains healthy — giving buyers reasonable choice and giving sellers incentive to present their homes well. vireb.com+2BIV+2
Overall unit sales (all property types) remain fairly steady compared with last year, though there is some variation month-to-month. vireb.com+1
With balanced supply and demand around the region, the market is less frenzied than in the recent overheated years — giving buyers more breathing room and giving sellers the opportunity to attract serious, motivated buyers.
According to the British Columbia Real Estate Association (BCREA), the overall provincial average home price is projected to rise modestly in 2026, as higher-priced markets rebound and supply-demand stabilizes. British Columbia Real Estate Association+1
However, recent forecasts warn that 2025 could see overall downward pressure on prices, especially in overheated segments of the market in BC, due to elevated inventory and cautious demand. RBC+2BIV+2
For Buyers:
This Fall could be a good time to buy — stable prices, balanced inventory, and less competition than in prior years may offer good deals (especially on condos or single-family homes).
You’ll have more choice and time to inspect, evaluate, and compare homes — which reduces pressure and gives room for negotiation.
For Sellers:
Presentation matters more than ever — staging, repairs, and a thoughtful marketing plan can make a big difference in attracting qualified buyers in a balanced market.
Pricing realistically and proactively responding to market feedback (offers, conditions, timing) will lead to better results than relying on overheated-market expectations.
For Investors or Second-Home Buyers:
The relative market stability and modest price growth forecast makes it a reasonable window to consider properties for rental, renovation, or long-term holding.
More inventory and less bidding-war competition could help in finding deals — though careful evaluation of resale value, demand, and financials remains key.
As a Realtor active in Mill Bay to Nanaimo and familiar with local trends, here’s how I’m advising clients this Fall:
Buyers — If you’ve been waiting for cooling prices and more choice, now is a strong time to begin searching. Take advantage of the more balanced conditions to do your homework and negotiate smartly.
Sellers — Focus on presentation, realistic pricing, and flexible negotiating terms rather than expecting peak-market prices. A well-marketed home can still sell promptly if priced and positioned correctly.
Investors / Long-term Buyers — Consider properties that are well-maintained or have renovation potential — stable market conditions and moderate appreciation forecasts make this a viable time to invest for the long term.
Blog posts coming soon, please check back shortly.