BC's July 2026 housing numbers are in — a province-wide look at where sales and prices stand, and how the South Island compares to the rest of the province.

Every month, BCREA pulls together a snapshot of the whole province — from the Lower Mainland to the Kootenays to right here on the Island — and this July's numbers tell an interesting story about a market that's uneven, region by region, but broadly finding its balance.

The Headline Numbers

Across British Columbia, 6,561 homes sold in July 2026, down 6.7% from the same month last year. The average price provincewide came in at $929,619, down just 1.3% year-over-year. Total dollar volume for the month was $6.1 billion, and BC's sales activity is currently running about 19% below the ten-year average for July — a reminder that this is still a market working its way back to a longer-term rhythm rather than one in crisis.

Where the Softness Really Is

BCREA's chief economist, Brendon Ogmundson, made an important point in this release: seasonally adjusted activity actually rose from the previous month across most of the province, with the real weakness concentrated in the Lower Mainland specifically. Greater Vancouver and the Fraser Valley both saw double-digit dollar-volume declines and sales down 7 to 9% year-over-year — a very different picture than what's playing out elsewhere.

The Interior and North Are Holding Steadier

Boards like the Okanagan, Kootenay, and South Peace River actually posted price gains this July, some in the high single digits. Unit sales in those regions were mixed, but nowhere near the pullback seen in Vancouver and the Fraser Valley. It's a good illustration of just how much "the BC housing market" varies depending on which corner of the province you're standing in.

And Here on Vancouver Island

Locally, both the Victoria and Vancouver Island boards told a steadier story than the Lower Mainland. Victoria's average price actually rose 3.1% year-over-year to $996,510, even as sales dipped slightly. The broader Vancouver Island board (covering the Cowichan Valley and beyond) saw prices hold almost flat, down just 0.2%, with more inventory available to buyers than a year ago. If you want the full local breakdown, we covered that in detail in our recent South Island market update.

The Year-to-Date Picture

Provincewide, BC's residential sales dollar volume is down 6.7% year-to-date at $38.04 billion, with unit sales down 5.6% at 40,432 homes and the average price down 1.2% at $940,948. It's a market that's cooled from last year's pace but hasn't fallen off a cliff — and per BCREA, a strengthening economy and labour market could help regional markets converge back toward their long-term averages over the next year.

Whether you're watching these numbers out of curiosity or because you're weighing a move, I'm always happy to put them in context for whatever part of the Island — or the province — you're thinking about.

Source: BC Real Estate Association (BCREA), "Housing Market Activity Uneven Across BC Regions," August 13, 2026.

July 2026 brought rising single-family sales and near-asking-price offers to the Cowichan Valley. Here's what buyers and sellers in Duncan, Lake Cowichan, and the Malahat should know.

If you've been watching for-sale signs go up around Duncan, Lake Cowichan, Chemainus, or out toward the Malahat this summer, you've probably noticed things feel a little different than they did in spring. July brought a genuine bright spot to the Cowichan Valley market — one of the few pockets of Vancouver Island where sales actually picked up rather than slowed down.

Sales Are Climbing

The Cowichan Valley (VIREB Zone 3) saw 69 single-family home sales in July 2026 — up from 62 a year earlier and up again from June's 58 sales. That's an 11% year-over-year increase, bucking the trend across most of Vancouver Island, where sales were down board-wide.

For context, the Vancouver Island Real Estate Board recorded 707 total sales across the whole region in July, down 11% from last year. Cowichan Valley moving in the opposite direction is worth paying attention to.

Prices Holding Steady, With a Mixed Picture by Property Type

• Single-family benchmark price: $788,700 — up about 1% from a year ago and up roughly 1.1% from June

• Single-family median sale price: $820,000

• Condo apartment benchmark: $304,700 — down 7.7% year-over-year, the softest condo segment on Vancouver Island right now, though it did tick up slightly from June

• Townhouse benchmark: $520,500 — down 2.9% year-over-year but up 0.9% month-over-month

Translation: detached homes are holding their value well and gaining a little ground, while condos have seen the biggest pullback of any property type in the region — good news if you're a condo buyer, a tougher pill for anyone selling one right now.

What's Happening on the Ground in Duncan & the Malahat

Zooming in further, a look at recent MLS activity specifically in the Duncan and Malahat & Area market shows just how competitive well-priced homes have become:

• 45 residential sales closed in July, at a median price of $800,000

• Homes are selling for close to asking — a median sold-to-list price ratio of 98%

• 252 active listings and 107 properties in pending status at month's end, meaning there's a healthy pipeline of deals moving through the system alongside solid available inventory

That combination — near-full-price offers alongside a strong pending count — points to buyers who know what they want and are willing to act when a home is priced right.

What VIREB's Leadership Is Saying

VIREB CEO Jason Yochim noted that after a slow start to spring and summer, July showed real signs of life across the board, with REALTORS® reporting increased activity. He pointed to the $500,000 to $750,000 range as the hottest price band region-wide, and had a clear message for sellers: buyers aren't in a rush, and they're willing to wait for the right property — so pricing realistically matters more than ever. He also flagged that with Canada's economy performing better than expected, a big drop in mortgage rates isn't likely anytime soon, which reinforces that buyers are shopping carefully rather than chasing rate cuts.

What This Means If You're Buying or Selling in the Cowichan Valley

Buyers: Detached homes are moving, and moving close to list price — if you find the right property, don't expect much room to lowball. Condos remain the better value play if flexibility on property type works for you.

Sellers: The market wants you here — but it wants you priced accurately. With homes selling at a 98% median sold-to-list ratio, overpricing is likely to cost you time rather than money, since buyers are patient enough to wait you out.

Whether you're settled in Duncan, considering a move up-Island from Victoria, or looking at acreage toward the Malahat, the Cowichan Valley is proving to be one of the more resilient corners of the South Island market right now.

Thinking about buying or selling in the Cowichan Valley? [Reach out] — I'd be glad to walk you through what these numbers mean for your specific situation.

July 2026 brought steady sales and more choice for Greater Victoria home shoppers. Here's what the numbers mean for buyers and sellers across the South Island.

Summer on the South Island has a rhythm to it — ferries lining up at Swartz Bay, patios full on Fort Street, and (if you're plugged into real estate like I am) a steady stream of "for sale" signs going up and coming down across Greater Victoria, the Westshore, and out toward the Peninsula. July 2026 kept that rhythm going, with a market that gave both buyers and sellers a bit of breathing room.

The Big Picture

A total of 673 properties changed hands across the Victoria Real Estate Board region in July — just shy of the 680 sold in July 2025, and a bit quieter than June's pace. But don't read too much into the month-over-month dip; July actually landed above the five-year average for sales in this month.

What's really shaping the market right now isn't a shortage of homes — it's the opposite. Inventory has stayed generous, which means buyers have room to be selective, and sellers need to work a little harder to stand out.

What Buyers Are Experiencing

If you've been house hunting on the South Island this summer, you've probably felt it: more listings, more open houses, more time to think things through. Single-family home sales actually rose 4.1% year-over-year, with 331 homes sold — a sign that buyers are still active, just less rushed. Condo sales told a different story, dipping 7.1% to 209 units, and townhome sales pulled back 15.5%.

Some buyers are even feeling a little overwhelmed by all the choice on the table. That's actually a good problem to have — but it also means having someone in your corner who can help you cut through the noise, compare properties on the things that actually matter (school catchments, commute times, renovation potential), and know when a "good deal" really is one.

What Sellers Should Know

Active listings sat at 3,847 by the end of July — up nearly 4% from a year earlier, though down slightly from June as summer listing activity eased off. With more competition on the shelf, presentation and pricing matter more than ever. A well-prepped, well-priced home is still finding buyers quickly; an overpriced one is more likely to sit.

Home Values: A Gentle Cooling, Not a Correction

Benchmark values eased slightly across most of the region:

• Single-family homes (Victoria Core): $1,311,000, down 2.8% from a year ago

• Condos (Victoria Core): $548,600, down 2.2% year-over-year

• Westshore single-family homes: $1,034,200 — one of the few segments to tick up

• Row/townhomes (Core): $857,300, up nearly 2% both monthly and annually

The sales-to-active-listings ratio has been sitting comfortably in the balanced market range (17–28%) for months now — no dramatic tilt toward buyers or sellers, just a market finding its footing.

A Cautious Tilt Toward Sellers

Local housing analyst Leo Spalteholz, who tracks Victoria's numbers independently at House Hunt Victoria, flags something worth watching: on a seasonally adjusted basis, the market nudged slightly toward sellers' territory in July — the first time it's leaned that way since last October. The reason isn't a rush of buyers; it's that new listings came in lighter than usual, which quietly tightened inventory even as sales stayed roughly flat.

Worth keeping in perspective, though — a one-month shift doesn't make a trend. Even Spalteholz cautions against reading too much into it until it holds for closer to a year.

Median prices told a similar "steady as she goes" story, with detached homes at $1,165,000 and condos at $525,000 — both within a few percent of where they sat a year ago. Zoom out further and the bigger theme is affordability slowly repairing itself: since the market peaked in spring 2022, detached prices have eased about 9% and condos about 13%, while incomes have climbed roughly 17% over the same stretch. It's progress, but by historical standards — where markets have typically bottomed once a median condo payment eats up less than 20% of household income, versus around 25% today — there may still be room to go.

The South Island Takeaway

Whether you're browsing character homes in Fairfield, eyeing acreage out toward the Malahat, or keeping an eye on Cowichan Valley listings for that eventual move up-Island, the same theme holds: this is a market that rewards patience and preparation, not urgency.

Thinking about buying or selling this summer? [Reach out] — I'd love to help you make sense of what's happening in your specific corner of the South Island.