Nanaimo, BC
RESILIENT HOUSING MARKET CARRIES VIREB INTO THE FALL
In the single-family category (excluding acreage and waterfront), 307 homes sold in September, down four per cent from one year ago and nine per cent from August. Sales of condo apartments last month came in at 59, a decrease of 14 per cent year over year and a drop of 20 per cent from August. In the row/townhouse category, 79 units changed hands in September, down 13 per cent from one year ago and up 10 per cent from August.
VIREB Chair Olivier Naud notes that VIREB’s housing market, like last month, is in the mid-range of balanced, with approximately six months of inventory. Balanced markets offer the best of both worlds for buyers and sellers.
In Campbell River, the benchmark price of a single-family home was $706,200 last month, up two per cent from September 2024. The Comox Valley’s year-over-year benchmark price rose by two per cent to $846,000. In the Cowichan Valley, the benchmark price was $804,100, up four per cent from September 2024. Nanaimo’s year-over-year benchmark price increased by one per cent to $816,200, while the Parksville-Qualicum area saw its benchmark price increase by three per cent to $933,400. The cost of a benchmark single-family home in Port Alberni was $519,300, up four per cent from the previous year. For the North Island, the benchmark price of a single-family home dropped by one per cent to $449,400.
Calgary, AB
Price declines mostly driven by higher density home types
Higher price adjustments are occurring for apartment and row style properties while detached and semi-detached properties have reported modest declines. As of August, the unadjusted total residential benchmark price was $577,200, down over last month and nearly four per cent lower than levels reported last year.
“Perspective is needed when it comes to price adjustments. The most significant price adjustments are occurring for row and apartment style homes as they are also the product type that are facing the largest gains in supply choice,” said Ann-Marie Lurie, Chief Economist at CREB®. “Meanwhile price adjustments in the detached and semi-detached markets range from modest price growth in some areas to larger price declines in areas with large supply growth. Overall, recent price adjustments have not offset all the gains that have occurred over the past several years.”
Toronto, ON
September home sales increased in the Greater Toronto Area (GTA) compared to a year earlier, as more homebuyers sought to take advantage of more affordable monthly mortgage payments. Buyers continued to respond to substantial choice in the marketplace by negotiating the average selling price downward.
“The Bank of Canada’s September interest rate cut was welcome news for homebuyers. With lower borrowing costs, more households are now able to afford monthly mortgage payments on a home that meets their needs. Increased home purchases will also stimulate the economy through housing-related spin-off spending helping to offset the impact of ongoing trade challenges,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule.
VANCOUVER, BC
Fall market favours buyers
“With another cut to Bank of Canada’s policy rate behind us, and markets pricing in at least one more cut by the end of the year, Metro Vancouver homebuyers have reason to be optimistic about the fall market,” said Andrew Lis, GVR’s director of economics and data analytics. “Easing prices, near-record high inventory levels, and increasingly favourable borrowing costs are offering those looking to purchase a home this fall with plenty of opportunity.”
The benchmark price for a detached home is $1,933,100. This represents a 4.4 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025.
The benchmark price of an apartment home is $728,800. This represents a 4.4 per cent decrease from September 2024 and a 0.8 per cent decrease compared to August 2025.
The benchmark price of a townhouse is $1,069,800. This represents a 2.7 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025.
