The Vancouver Island Real Estate Board recorded nine per cent fewer sales in October compared with the same month last year.
The board reported 582 sales across all property types, with 4,173 active listings on the market, up nine per cent from October 2025.
Single-family home sales fell four per cent year over year, while condo apartment sales dropped 19 per cent.
“There’s still interest in the market, but there’s also a noticeable sense of caution among consumers right now,” said Jason Yochim, VIREB chief executive officer.
Yochim said buyers have options in many Vancouver Island communities and are taking their time before making decisions.
Sales activity did increase slightly compared with September. The board recorded 562 sales that month, making October’s total an increase of about four per cent.
“People don’t appear to be rushing into major financial decisions,” Yochim said. “Buyers are doing their homework, comparing what’s available and waiting until they feel comfortable making a move. At the same time, well-priced properties continue to attract interest, which shows there are buyers in the market when the value is there.”
The board-wide benchmark price for a single-family home was $780,400 in October, down one per cent from the same month last year.
