Another Bank of Canada rate cut and easing prices helped Metro Vancouver home sales edge slightly higher this September compared to last year. Buyers are finding more choice and a little breathing room, thanks to high inventory and lower borrowing costs.
Across Vancouver Island, the fall market is showing similar signs of balance and resilience. Families are back into routine after summer, and the housing market is settling into a steady rhythm.
🏡 Vancouver Island Snapshot
The Vancouver Island Real Estate Board (VIREB) reported a modest increase in total sales compared to last year, with overall prices holding fairly steady. Think of it like a calm sea — a few waves up or down, but no big storms.
In many Island communities, prices are gently adjusting rather than swinging dramatically. For example, single-family homes in Nanaimo are holding close to last year’s levels, while Campbell River and Cowichan Valley have seen small increases. Meanwhile, condos and townhomes remain attractive options for buyers seeking affordability and low maintenance, especially in Comox Valley and Parksville-Qualicum, where lifestyle continues to drive demand.
Buyers are benefiting from a balanced market — roughly six months of inventory — meaning neither buyers nor sellers hold all the power. Homes that are well-priced and well-presented are still moving, while sellers need to be realistic as conditions normalize.
🌦 What It Means Going Into Winter
With interest rates trending down and steady demand across both Metro Vancouver and Vancouver Island, fall feels like a turning point. For buyers, there’s more opportunity to shop without the pressure of bidding wars. For sellers, the key is positioning your property smartly and showcasing its unique value.
If you’ve been waiting for the “right time,” this fall might just be it — especially before the next potential rate adjustment.
