The Vancouver Island real estate market experienced a modest increase in sales in early spring 2025 compared to the same period in 2024; however, this growth primarily reflects the weakness of last year’s market rather than a bounce back. Moreover, sales have stayed below the 10-year monthly average, confirming lower than average market activity. In Q1 2025, there were 1,452 residential sales totalling $1.1 billion. This represents a 4.9% rise in the number of sales and an 8.4% increase in total value compared to Q1 2024.
Anecdotally, showing activity picked up earlier in the year, driven by falling mortgage rates, a growing housing supply that provided buyers with more options, and relatively stable home prices. These factors sparked renewed interest and cautious optimism in the market during the first months of 2025. However, this did not translate into a significant surge in sales, as momentum has since been dampened by ongoing geopolitical uncertainty.
You’ll find more at Q1 2025 Market Overview. For local market information, please contact a REALTOR® in your area.
