Island-wide benchmark price for single-family home currently above $788K

Island-wide benchmark price for single-family home currently above $788K

Published 10:30 am Wednesday, September 16, 2026

The benchmark price for a single-family home in Parksville Qualicum Beach is up one per cent over the same period a year ago, sitting at $926,800.

A month ago, the number was at $927,700.

According to a press release from the Vancouver Island Real Estate Board, Nanaimo’s year-over-year benchmark price increased by one per cent to $820,100. In Campbell River, the benchmark price of a single-family home was $690,000 last month, up one per cent from August 2025. The Comox Valley’s year-over-year benchmark price dropped by one per cent to $845,400. In the Cowichan Valley, the benchmark price was $779,300, up one per cent from August 2025. The cost of a benchmark single-family home in Port Alberni was $512,600, down three per cent from the previous year. For the North Island, the benchmark price of a single-family home increased by three per cent to $481,700.

The release stated VIREB recorded 651 unit sales (all property types) in August 2026, down four per cent from one year ago. Year-over-year active listings (all property types) were 4,498, up two per cent from the previous year.

In the single-family category (excluding acreage and waterfront), 298 homes sold in August 2026, down 11 per cent from one year ago and a drop of 19 per cent from last month. Sales of condo apartments in August came in at 70, down four per cent from last year and one per cent from July. In the row/townhouse category, 79 units changed hands in August, up 11 per cent from one year ago and down two per cent from July.

Active listings of single-family homes were 1,468 in August, up from 1,424 one year ago. VIREB’s inventory of condo apartments was 356 last month, dropping from the 396 properties listed in August 2025. There were 304 row/townhouses for sale last month compared to 355 the previous year.

The board-wide benchmark price (MLS® Home Price Index) of a single-family home was $788,100 in August 2026, a slight uptick from one year ago and a drop of one per cent from July. In the apartment category, the benchmark price was $401,900 last month, down one per cent year over year and one per cent from July. The benchmark price of a townhouse in August was $550,000, up one per cent from one year ago and a slight increase from July.

“While sales activity eased in August, our housing market continues to demonstrate resilience compared to many other regions in British Columbia,” said Jason Yochim, VIREB chief executive officer.

Yochim noted buyers remain active but are taking a measured approach to purchasing decisions, often willing to wait until they find a property that meets their needs. He added that while ongoing trade uncertainty continues to affect B.C.’s economy, its impact on the housing market has so far been limited.

“Today’s buyers have options and are carefully weighing their decisions, which makes accurate pricing more important than ever,” said Yochim. “Properties that are well presented and priced appropriately continue to attract interest, while buyers remain willing to walk away from homes that don’t meet their expectations.”