Condo Units Listed in September more than doubled over those Listed in September 2025 but were still down 10.11% overall in the last 12 months. Condo Sales dropped considerably over those in September and were down 3.19% over the last year. Average Sell price also dipped over the last 12 months, down 1.27%.
When looked at over the last 12 months to date Townhouses were holding, with Units Listed up 17.34%, Units Sold up 3.23% and Average Sell Price up 1.64%. Units Listed nearly doubled this past month, up 76.47% over those reported September 2025 while those reported Sold dropped by 44.44% in the same timeframe.
Bare land Units Listed finally saw a jump over those Listed in September of last year, still down slightly by 0.90% over the last 12 months to date. Units Sold nearly doubled over September 2025 Sales but were also still down 17.74% over the last 12 months. The Average Sell price saw it’s first drop in months, down 7.07% over the average thru September 2025 but still up 21.70% overall in the last 12 months.to date.
The Vancouver Island Real Estate Board (VIREB) reported a significant drop in sales, down 13% from one year ago, reporting 562 sales for all property types in their market area in September 2026. Inventory for single family homes remained about the same, 1,458 reported in September over 1,424 reported one year ago. Condos and Townhomes both saw slight drops in Active Listings compared to the previous year. The Board wide benchmark for a single family home was $777,300 thru September, down 1% from 1 year ago. Our Cowichan Valley benchmark also dipped 1%, to $774,300 in the same period.
In the blink of an eye, fall is here and winter is just around the corner. Autumn usually brings a flurry of market activity before things settle into hibernation over the cooler months. If you’ve been thinking of buying and were waiting for the trifecta of ample inventory, low interest rates and cooling prices, it may not get any better than now. We’ve already seen a subtle rise in mortgage interest rates & while inventory on the island has increased for some types of real estate, we’re still lacking for overall demand. Sellers who need to sell soon should consider getting on the market before the spring rush and beat out the competition as we settle into this Buyer’s market. There’s always a good time to buy or sell, whatever market conditions may be. Let’s make a plan that best suits your needs.
