A local look at how the Cowichan Valley real estate market moved through August 2026 — home sales, prices, and what it means if you're watching the Valley.

A Local Look at the Cowichan Valley Market: August 2026

There's a particular rhythm to real estate in the Cowichan Valley in late summer. Families are settling back into school routines, the harvest season is kicking into gear around the wineries and farm stands, and the market tends to take a breath after a busy spring and early summer. August 2026 followed that pattern almost exactly.

Fewer Sales, Same Steady Story

Fifty-seven homes sold across the Cowichan Valley in August — down from July's 69, and just two shy of what we saw in August 2025. It's a small dip, and honestly, it tracks with what we typically see this time of year rather than signalling any real shift in appetite. Buyers are still out there; they're just being a little more deliberate about it.

That word — deliberate — really does capture where things stand right now across Vancouver Island. VIREB's CEO Jason Yochim put it well in the board's August release: buyers have options, and they're taking the time to find the right property rather than settling.

Prices Are Holding Their Own

Here's the part worth paying attention to: even with fewer sales, the homes that did sell fetched strong prices. The average sale price landed at $871,595, up nearly 7% from last August. The median came in at $810,000.

The MLS® Home Price Index — which smooths out the swings you get from averages — shows single-family benchmark prices at $779,300, essentially flat to slightly up over the past year. Condos softened a bit more (down 6% year over year to $302,400), while townhouses held nearly steady at $520,500.

So no, this isn't a market where prices are sliding. It's one where things have simply slowed to a more measured pace.

What It Feels Like on the Ground

If you've been thinking about a move in Duncan, Cowichan Bay, Cobble Hill, Mill Bay, Chemainus, or Lake Cowichan, this is a market that rewards patience and preparation rather than urgency. Sellers who present their homes well and price them honestly are still finding buyers. Buyers who do their homework have a bit more breathing room than they did a year or two ago.

That's really the throughline of the whole Valley market right now — not hot, not cold, just steady. And for a region as lovely and community-minded as this one, steady is a pretty good place to be.

Curious What This Means for Your Home or Your Next Move?

I grew up on this Island — sixth generation, in fact — and the Cowichan Valley has always felt like home turf. If you'd like to talk through what these numbers mean for your street, your neighbourhood, or your plans, I'm happy to chat, no pressure at all.

Mike Doughty | REALTOR®, RE/MAX Camosun
778-400-0475 | mike@mikedoughty.ca | www.southislandliving.ca

Source: Vancouver Island Real Estate Board (VIREB), August 2026 Monthly Statistics Package.

Sales in Greater Victoria climbed 12.6% in August 2026 as steady momentum carried into fall, though rising bond yields could cool things heading into winter. See what it means for South Island buyers and sellers.

Greater Victoria's real estate market keeps its footing heading into fall

There's a certain rhythm to real estate on the South Island — the spring rush, the summer lull around the lake, and then that late-August shift when everyone comes back from the cabin, the kids head back to school, and buyers and sellers start paying attention again. This August, that rhythm held steady, and then some.

According to the Victoria Real Estate Board, 591 properties changed hands across the region in August 2026 — up 12.6 per cent from the 525 sales recorded in August 2025. It was a touch quieter than July, as it usually is once summer winds down, but year-over-year the numbers tell a clear story: buyers are active, and they've been active all season.

A market with more confidence than it's had in years

VREB Chair Fergus Kyne put it simply: sales activity in August was the strongest the region has seen in five years. That's a meaningful marker for anyone who's been watching this market cautiously over the past couple of seasons.

Both single family homes and condos posted solid year-over-year gains:

• Single family homes: 309 sold, up 15.3 per cent from August 2025

• Condominiums: 175 sold, up 15.1 per cent from August 2025

• Townhomes: 63 sold, down 4.5 per cent from August 2025 — the one segment that cooled slightly

What's notable isn't just that more homes sold — it's that they sold into a market with genuinely healthy inventory. There were 3,662 active listings at the end of August, giving buyers real choice rather than the frantic, offer-in-24-hours conditions we saw a few years back.

Independent market analyst Leo Spalteholz, who tracks seasonally adjusted trends at House Hunt Victoria, notes that sales activity is now sitting about 16 per cent above the low point hit back in January — a slow, steady climb rather than a sudden surge. He also points out that with inventory continuing to tighten a little each month, the overall market balance has nudged slightly further toward sellers than it was in July, though only modestly.

Prices are holding, not spiking — with condos still the soft spot

If you're picturing a runaway market, that's not quite what's happening here. The MLS® Home Price Index — which smooths out the month-to-month noise of average and median prices — shows a genuinely balanced picture in the Victoria Core:

• Single family benchmark: $1,301,800, down slightly (0.6%) from a year ago

• Condo benchmark: $553,600, up modestly (0.9%) from a year ago

That's the kind of steadiness that tends to reward patient buyers and realistic sellers alike. Worth noting, though: Spalteholz's analysis flags that the region's condo median price has slipped to its lowest level since December 2022, and that segment continues to lag well behind the detached home market in relative strength. If a condo is on your radar, that softness is worth factoring into your strategy — whether you're buying or selling.

As Chair Kyne noted, the current inventory gives buyers room to shop around and compare — but it also means sellers need to be sharp about pricing and presentation. Homes that are priced right and show well are still moving quickly; the ones that aren't are sitting.

A cloud on the horizon: rising bond yields

Here's the part worth keeping an eye on. Fixed mortgage rates — which make up the majority of new borrowing — track bond yields, and those yields have been climbing steadily all year. They're now at their highest point in over two years. The last time we saw a run-up like this, back in fall 2023, it noticeably cooled the market as some buyers found themselves priced out of qualifying. We're not at that level yet, but the direction of travel is one reason activity could soften a bit heading into the colder months.

What this means if you're thinking about a move

Whether you're eyeing a character home in Fairfield, a condo near the Inner Harbour, or something with a bit more land out toward the Westshore, this kind of balanced market rewards preparation. Buyers have breathing room to make thoughtful decisions instead of panicked ones — and with borrowing costs potentially ticking upward, locking in your financing sooner rather than later isn't a bad idea. Sellers who understand exactly where their home sits relative to comparable listings — not just what they hope it's worth — are the ones landing strong offers.

If you're weighing a move anywhere across the South Island this fall, I'm always happy to walk through what these numbers mean for your specific street, your specific home, or your specific plans. No pressure, just a conversation.

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.

A neighbourhood-by-neighbourhood look at 2026 property taxes across Greater Victoria — from Oak Bay to Sooke — and what the numbers reveal about how each community is investing in its future.

Every July, property tax notices arrive across the capital region, usually followed by a little sticker shock and one familiar question:

Why does someone in the next municipality pay so differently than I do?

The answer is more complicated than simply comparing tax rates. Property tax bills reflect population growth, infrastructure needs, regional services and the priorities each community has set for the years ahead.

Numbers compiled from Greater Victoria’s 13 municipalities, the Capital Regional District, BC Assessment and BC Stats provide an interesting snapshot of the region in 2026. They show that property taxes are not just about dollars and cents — they tell a broader story about how communities are growing, where money is being spent and what local governments are preparing for next.

The Westshore Is Growing Fast — and the Tax Bills Show It

Langford, now home to an estimated 59,669 residents, saw one of the largest property tax increases in the region this year. The average increase was 10.22%, or approximately $270 per household.

Sooke was close behind, with an increase of 10.5%, equal to roughly $186.87 for the average property.

For anyone who spends time on the Westshore, those numbers may not come as a surprise. Rapid population growth brings increased demand for roads, schools, recreation facilities, emergency services and other infrastructure. Those improvements cost money, and eventually some of that cost appears on the property tax notice.

Colwood, however, had a very different result. Its increase was limited to 4.22% — the lowest in the region in 2026 — even though the average assessed home value sits just above $1 million.

That contrast is a good example of why assessed value alone does not determine how much a homeowner’s tax bill will change.

Where the Money Actually Goes

It is easy to assume that the full amount on a property tax notice goes directly to the local municipality. In reality, a substantial portion is collected for regional and provincial services.

These charges can include:

• School taxes, collected on behalf of the Province of British Columbia

• CRD services, including regional parks, water, shared infrastructure and other regional programs

• Capital Regional Hospital District costs, which help fund healthcare infrastructure across the region

• Municipal Finance Authority debt servicing, used to finance major municipal capital projects

Esquimalt homeowners, for example, contribute approximately $1,158.53 toward CRD-related costs. That is more than double the amount paid by the average homeowner in Colwood or Victoria for similar regional services, despite relatively comparable average home values.

It is an important reminder that the municipal portion of your tax bill is only one part of the overall picture. Where you live, which regional services apply and how those costs are distributed can make a significant difference in the final amount.

A Quick Snapshot Across the Region

| Municipality | Avg. Assessed Home | Total Tax Increase |
| Saanich | $1.185M | 5.35% |
| Victoria | $1.045M | 9.34% |
| Langford | $921,375 | 10.22% |
| Colwood | $1.005M | 4.22% |
| Esquimalt | $1.105M | 11.32% |
| Oak Bay | $1.88M | 8.5% |
| Central Saanich | $1.128M | 7.37% |
| Sooke | $792,876 | 10.5% |
| Sidney | $933,005 | 9.37% |
| North Saanich | $1.574M | 5.5% |
| View Royal | $1.095M | 7.05% |
| Metchosin | $1.246M | 9.91% |
| Highlands | $1.278M | 9.5% |

What This Means If You're Watching the Market Property taxes rarely make or break a decision to buy in a particular neighbourhood, but they're a real part of the monthly cost-of-ownership conversation — especially when you're comparing, say, a Sooke acreage to a Saanich bungalow with a similar assessed value but a very different tax bill. If you're curious how a specific municipality's tax trends fit into your own homeownership plans on the South Island, feel free to reach out! mike@mikedoughty.ca

Sources: Compiled from Times Colonist reporting (June 29, 2026), Capital Regional District, BC Assessment, BC Stats, and the 13 Greater Victoria municipalities.

Ever spotted "Exceptions and Reservations — Esquimalt and Nanaimo Railway Company" on your Vancouver Island title and wondered what it means? Here's the real story behind the Island's most common — and most misunderstood — historical land charge. If you own property almost anywhere between Victoria and Campbell River, there’s a decent chance you’ve seen a curious line buried in your title search:

Exceptions and Reservations — Esquimalt and Nanaimo Railway Company, Inter Alia

There’s no dollar figure, no payment deadline and no obvious explanation—just old legal wording connected to a railway company that no longer operates under its original name.

Naturally, this can make property owners wonder: Could someone show up and start digging a mine shaft in the backyard?

Not quite.

The real explanation is a fascinating piece of Vancouver Island history. It is worth understanding whether you already own a home here or are starting to explore the South Vancouver Island real estate market.

The Railway Deal That Shaped Vancouver Island

In the 1880s, the province reached an agreement with coal baron Robert Dunsmuir and the Esquimalt and Nanaimo Railway Company to build a railway between Esquimalt and Nanaimo.

In exchange for constructing the railway, the company received an enormous land grant covering approximately 1.9 million acres—close to one-quarter of Vancouver Island.

The grant extended through large portions of southeastern Vancouver Island, including areas around:

• Greater Victoria and the Westshore

• The Cowichan Valley

• Nanaimo

• Parksville and Qualicum

• The Comox Valley

This was not simply a narrow strip of land running beside the railway tracks. The grant stretched for many kilometres on either side of the railway.

That is why properties in Langford, Sooke, Duncan and other communities far from the current rail corridor can still carry an E&N Railway notation on title.

What Rights Were Reserved?

When portions of the original railway lands were sold, the E&N Railway Company sometimes retained—or reserved—certain rights.

Depending on the wording of the original land grant, these could include:

• The right to enter the land and remove timber for railway purposes

• Rights associated with railway lines, stations and workshops

• Rights to coal, minerals and other resources beneath the surface

• Rights of entry connected to accessing those resources

Those historical rights are what the “Exceptions and Reservations” notation represents.

The exact wording can vary from one original grant to another, so not every property is necessarily affected in exactly the same way.

What Does “Inter Alia” Mean?

Inter alia is Latin for “among other things.”

In land-title practice, it generally refers to the original document affecting the property, along with other lands.

Your modern residential lot may have started as one small piece of a much larger parcel that was subdivided many times over the past century.

In other words, your property is one tiny piece of a much bigger historical puzzle.

Is the E&N Charge an Easement?

Not exactly—and the distinction matters.

An easement usually provides a clearly defined right to use part of another property, such as:

• A shared driveway

• A utility line

• Access over a neighbouring parcel

The E&N reservation is broader and more unusual.

In some cases, it represents a separation of ownership rights. A homeowner may own the surface of the land while certain mineral or resource rights were historically retained by another party.

That sounds dramatic, but for most established residential properties it has very little practical effect.

What Is Registration Number M76300?

Many Vancouver Island titles show the reference number M76300 beside the E&N Railway notation.

M76300 is not the original registration number from the 1800s. It is a modern indexing number created when the Land Title Office computerized its records.

It allows these old E&N exceptions and reservations to appear consistently on electronic titles.

That is also why the title may include wording such as:

For actual date and time of registration, see original grant.

The legal rights date back to the original historical grant—not to the date the M76300 reference was added to the computerized system.

Does the E&N Railway Company Still Exist?

The original E&N Railway Company was acquired by Canadian Pacific Railway in 1905.

The railway corridor itself—the land containing the tracks—has been owned by the Island Corridor Foundation since 2003. The Island Corridor Foundation is a non-profit organization involving First Nations and regional governments.

There continues to be discussion about restoring passenger rail service on portions of Vancouver Island, including potential service between Victoria and the Westshore.

However, there is an important distinction:

The railway corridor and the historical land-grant rights are not necessarily the same assets.

When a company is sold, reorganized or dissolved, its property rights do not automatically disappear. Those rights may be:

• Transferred to another company

• Assigned to a successor

• Surrendered or released

• Passed to the Crown

• Left on the title because no one has completed the legal process required to remove them

The title still refers to the Esquimalt and Nanaimo Railway Company because that was the original party named in the grant.

It does not necessarily mean the original railway company—or anyone else—can simply arrive and exercise those rights without first establishing current ownership and legal entitlement.

Should Vancouver Island Homeowners Be Concerned?

For the vast majority of established homes in Greater Victoria, the Westshore, Cowichan Valley and Nanaimo areas, the answer is no.

Real estate lawyers, notaries, lenders, and title insurers regularly see the E&N Railway notation.

It is generally treated as a standard historical title exception and:

• It does not mean money is owed

• It is not a mortgage or lien

• It usually does not prevent financing

• It normally remains on the title when the property is sold

• It rarely has a practical effect on an established residential property

It is one of those title entries that look far more alarming than they usually are.

When Is Further Investigation Recommended?

The E&N notation deserves closer attention when purchasing or developing:

• Large rural properties

• Land directly beside the historical railway corridor

• Vacant development land

• Properties being considered for subdivision

• Land where substantial excavation is planned

• Properties involving mining, quarrying or resource extraction

• Land in areas with known historical coal mining activity

In those situations, a real estate lawyer or notary may recommend reviewing the original grant, historical title documents, surveys and any subsequent releases or transfers.

The notation alone does not tell you exactly who owns every historical right today.

A Historical Fingerprint on Island Real Estate

For most Vancouver Island homeowners, the E&N Railway charge is simply an interesting historical fingerprint on the property title.

It is a reminder that many of our modern neighbourhoods were shaped by a massive 19th-century railway agreement—one that influenced land ownership patterns across southeastern Vancouver Island and continues to appear on property titles more than 130 years later.

So no, an old railway company is probably not coming to dig a coal mine under your barbecue.

But the story behind that mysterious title notation is a pretty remarkable piece of Vancouver Island history.

Have Questions About a Property Title?

Every property is different, and historical title charges can be confusing.

If you are buying or selling a home on Southern Vancouver Island and come across something unfamiliar on the title, I can help explain the general context and connect you with the appropriate lawyer or notary for legal advice.

Mike Doughty, REALTOR®
RE/MAX Camosun
Serving Greater Victoria, the Westshore and the Cowichan Valley
778-400-0475
mike@mikedoughty.ca

When Did a “Starter Home” Become a Million-Dollar Home in Canada?

For generations, the Canadian starter home followed a fairly predictable script: a modest detached house, perhaps a little dated, with a small yard and enough space for a young couple to begin building a life.

It probably needed some paint. The kitchen may have featured an impressive amount of oak cabinetry. And somewhere in the basement, there was almost certainly wood panelling.

It was not supposed to be perfect. It was supposed to be attainable.

Today, that definition is changing quickly. In some of Canada’s most expensive communities, even the lower end of the housing market can approach—or exceed—the million-dollar mark. For many first-time buyers, the traditional detached starter home has been replaced by a condominium, townhouse, duplex, suite-equipped property or a home much farther from the urban core.

So, has the million-dollar starter home officially arrived in Canada?

In certain markets, it certainly has.

What Do We Actually Mean by a “Starter Home”?

There is no official Canadian definition of a starter home.

It is generally understood to mean an entry-level property purchased by someone taking their first step into homeownership. It is usually smaller, less expensive than the typical home in the area and may require some compromise on size, condition, location or property type.

A recent Zillow study in the United States defined a starter home as a property in the lowest third of home values within its market. Using that measurement, Zillow found that 242 American cities had typical starter homes worth at least US$1 million in April 2026—nearly three times as many as before the pandemic.

Canada does not have a directly comparable nationwide database measuring the lowest third of home values in every municipality. However, benchmark prices across the country clearly show the same underlying trend: the bottom rung of the property ladder has moved considerably higher.

In Some Canadian Markets, $1 Million Is No Longer Luxury Pricing

A million-dollar property still sounds luxurious in much of Canada—and in many communities, it absolutely is.

But real estate is intensely local.

In the most expensive parts of Metro Vancouver, Greater Toronto and Southern Vancouver Island, one million dollars may buy an older detached home on a smaller lot, a townhouse in a desirable neighbourhood or a property that requires significant renovations.

Here in Greater Victoria, the benchmark value of a single-family home in the Victoria Core reached approximately $1.34 million in May 2026. By comparison, the benchmark condominium was about $551,000.

That gap tells an important story.

The conventional detached home may now be well outside the starting range for many buyers, but there are still entry points into the market. They simply may not look like the starter homes previous generations purchased.

On central and northern Vancouver Island, prices are generally lower. In May 2026, the Vancouver Island Real Estate Board reported benchmark prices of approximately:

• $791,600 for a single-family home

• $553,200 for a townhouse

• $407,700 for an apartment

Those numbers are still significant, but they demonstrate how much location and property type affect affordability. Moving even an hour or two from a major urban centre—or considering a different style of home—can dramatically change the options available.

The Canadian Starter Home Has Changed

For today’s buyers, a starter home may be:

• A condominium rather than a detached house

• A townhouse with strata fees and shared amenities

• One side of a duplex

• A small home with a secondary suite

• An older property that needs cosmetic updating

• A manufactured home

• A property in a nearby community rather than the buyer’s preferred neighbourhood

• A home purchased jointly with a partner, sibling or family member

None of these choices represents a lesser form of homeownership.

The purpose of a first home is not necessarily to satisfy every long-term wish. It is to provide stable housing, suit the buyer’s current needs and create a manageable path toward the future.

The trouble begins when buyers compare their first purchase with someone else’s third.

Why Has Entry-Level Housing Become So Expensive?

There is no single villain twirling a moustache behind Canada’s housing market. Several factors have collided over many years.

Canada Has Not Built Enough Homes

Canada’s population has grown faster than its housing stock in many regions. CMHC has estimated that housing construction would need to roughly double from recent levels to restore affordability by 2035.

Although rental apartment construction has increased, new ownership housing has not always kept pace—especially the smaller, ground-oriented homes many families want.

Land Is Limited in High-Demand Areas

Markets such as Greater Vancouver and Greater Victoria face physical constraints including oceans, mountains, protected land and established neighbourhoods.

When large numbers of people want to live in places where developable land is limited, the land beneath a home can become more valuable than the building itself.

Construction Has Become More Expensive

Labour, materials, financing, permitting, development charges and building-code requirements all affect the cost of producing new housing.

Even when land is available, it can be difficult to build genuinely inexpensive homes. Developers cannot simply sprinkle some “affordable housing dust” on a project and make the costs disappear.

The Pandemic Reset Prices

Exceptionally low interest rates, changing housing needs and intense buyer demand pushed prices sharply higher during the pandemic.

Although some markets have since softened or stabilized, prices have not returned to their pre-pandemic levels. In many communities, the affordability ladder was permanently raised several rungs.

Incomes Have Not Kept Pace

The challenge is not just that homes became more expensive. It is that household incomes and down-payment savings did not rise at the same speed.

Statistics Canada has found that younger Canadians have lower homeownership rates than previous generations at comparable stages of life. Family assistance is also becoming increasingly important, with approximately one-third of homeowners under 35 having received some form of family support when entering the market.

That creates an uncomfortable divide between buyers who have access to family equity and those who do not.

Does Buying a Starter Home Still Make Sense?

It can—but buying simply because “real estate always goes up” is not a strategy.

A first purchase should make sense within the buyer’s actual life and finances. That means considering:

• How long they are likely to remain in the property

• The monthly mortgage payment

• Property taxes, insurance and utilities

• Strata fees and potential special levies

• Maintenance and repair costs

• Commuting expenses

• Job stability

• Future family or lifestyle plans

A less expensive home with a punishing commute may not truly be affordable. Similarly, a condominium with reasonable payments but a poorly funded strata can become expensive in a hurry.

The purchase price gets most of the attention, but the carrying cost determines whether the home feels comfortable after possession day.

Canadian First-Time Buyer Programs Can Help—but They Do Not Solve Everything

Eligible first-time buyers may be able to use several federal tools.

The First Home Savings Account allows qualifying buyers to contribute up to $8,000 annually, to a lifetime maximum of $40,000. Contributions are generally tax deductible, while qualifying withdrawals can be made tax-free.

The Home Buyers’ Plan also allows eligible buyers to withdraw up to $60,000 from an RRSP toward a qualifying home purchase, subject to repayment rules.

Insured mortgages are now available on qualifying properties priced below $1.5 million, and eligible first-time buyers may have access to a 30-year amortization. This can reduce monthly payments, although stretching the mortgage over a longer period generally increases the total interest paid.

These programs can improve a buyer’s position, but they cannot make an unsuitable property affordable. A tax benefit is useful. Being able to sleep at night is better.

What Buyers Can Do in Today’s Market

First-time buyers still have options, but planning matters more than ever.

Start With the Monthly Budget

Before browsing listings, buyers should understand what payment they can comfortably carry—not merely the maximum amount a lender might approve.

Owning a home should not require cancelling every vacation, hobby and restaurant meal until 2056.

Speak With a Mortgage Professional Early

A strong mortgage broker or lender can explain qualification, insured versus uninsured financing, available programs and how debts or credit affect borrowing power.

Early advice also gives buyers time to improve their financial position before entering the market.

Separate Needs From Preferences

Bedrooms, transportation, pets, accessibility and school requirements may be genuine needs.

Quartz counters, a double garage and an ocean view are excellent—but they may belong on the future-home list.

Compare Property Types

In many markets, the price difference between a condominium, townhouse and detached home can be hundreds of thousands of dollars.

A well-run strata may provide a more realistic and lower-maintenance entry into ownership.

Look Beyond the Headline Price

A home with a legal suite, lower commuting costs or recent major upgrades may offer better overall value than a cheaper property with looming repairs.

Be Willing to Play the Long Game

Some buyers may be better served by continuing to rent while building an FHSA, reducing debt and improving income stability.

Buying later with a stronger financial foundation is not failure. It is considerably better than buying too soon and becoming house-poor.

The Bottom Line

The million-dollar starter home is not the norm across Canada.

In many parts of the country, buyers can still find detached homes well below that figure. But in Canada’s most expensive urban and coastal communities, the idea is no longer far-fetched. In some neighbourhoods, one million dollars buys an ordinary home rather than an exceptional one.

That does not mean first-time buyers should give up.

It means the path into homeownership has changed.

Today’s successful first-time buyer may begin with a condo, buy in a neighbouring community, renovate gradually or choose a property with rental income. The first home may not be the dream home—but it can still be a smart, comfortable and valuable first chapter.

The key is understanding the local market, looking beyond the national headlines and building a strategy around your real budget and priorities.

Because in real estate, “average” Canadian prices are interesting—but none of us actually buys the average Canadian house.

Canada's luxury real estate market is moving past Toronto and Vancouver. Here's why the South Island has been ahead of this shift the whole time.

For a long time, "luxury real estate in Canada" basically meant two postal codes: Toronto and Vancouver. If you wanted a serious estate property or a showpiece waterfront home, that's where the money — and the headlines — went.

That's no longer the whole story.

The Big Cities Aren't the Whole Story Anymore

RE/MAX Canada's newly released 2026 Spotlight on Luxury Report shows something pretty striking happening underneath the surface of the national market. While Toronto and Vancouver's high-end segments are cooling — luxury sales activity down close to 17% and 20% year-over-year, respectively — smaller and mid-sized markets are surging. Edmonton led the country with luxury sales up nearly 50%. Saskatoon, Ottawa, and Calgary all posted strong double-digit gains too.

The report's take is pretty simple: high-net-worth buyers in the traditional hubs are being more cautious right now, while buyers in regions with strong local economies and room to grow are moving with confidence.

What "Luxury" Actually Means Now

Here's the part that really caught our eye. The definition of luxury itself is shifting. It's less about sheer square footage and more about how a property actually makes you live.

Today's high-end buyers are chasing:

• Waterfront and estate settings — privacy and a real connection to nature

• Walkability — high-end convenience inside a tight-knit community, not a sprawling subdivision

• Intentional design — homes that genuinely support remote work, wellness, and day-to-day life, not just a great photo for the listing

Sound like anywhere you know?

That's Kind of the South Island's Whole Thing

We'll be honest — this "new" definition of luxury isn't new to us at all. It's just describing what the South Island has quietly offered for decades.

Oak Bay's character homes, walkable streets, and ocean views. North Saanich's deep-water moorage properties tucked into the trees. Acreages in the Cowichan Valley with room to breathe and a view of the vineyards instead of the neighbour's fence. Sooke's wild, unfiltered coastline. Even Shawnigan Lake, where my own family's spent more weekends on the water than I can count — that's six generations of calling this Island home, and the appeal hasn't changed: this place was built for the kind of living people are now paying a premium for everywhere else.

What's Actually Happening Here Right Now

The South Island isn't immune to broader market shifts, but the local picture has some genuinely good news for buyers exploring the upper end of the market this spring:

• Oak Bay continues to see limited inventory, which is keeping pricing well-supported — well-presented heritage homes are still attracting multiple offers.

• North Saanich has seen a meaningful uptick in new waterfront listings this spring, giving buyers looking for deep-water moorage more genuine choice than they've had in the last few years.

• Across Greater Victoria more broadly, inventory is sitting at its highest level in over a decade, which means more time, more selection, and more room to negotiate — even at higher price points.

The Takeaway for South Island Buyers and Sellers

The national story is one of decentralization — luxury moving toward places with lifestyle, livability, and value. The South Island has been living that story all along. Whether you're dreaming about a waterfront property in North Saanich, an estate acreage in the Cowichan Valley, or simply curious what your Oak Bay character home might be worth in today's market, this is a genuinely interesting moment to take a closer look.

Curious what this shift looks like for your specific neighbourhood? Reach out anytime — happy to talk it through, no pressure.

BC's housing market cooled further in May 2026 as rising mortgage rates and a soft economy weighed on sales province-wide. Here's what the BCREA numbers mean for Southern Vancouver Island.

BC's Housing Market Cools Again in May 2026 — Here's What It Means Closer to Home

If you've been keeping half an eye on the housing market this spring, you've probably noticed the word "soft" coming up a lot. The British Columbia Real Estate Association (BCREA) released its May 2026 numbers this week, and they confirm what a lot of us have been feeling on the ground: buyers are still out there, but they're cautious, and rising mortgage rates are doing a lot of the talking.

Let's break down what happened province-wide, and then bring it back to what it actually means here on the South Island.

The Province-Wide Picture

Across British Columbia, 6,790 residential units sold through the Multiple Listing Service® (MLS®) in May 2026, down 2 per cent from the same month last year. The average residential price came in at $945,878, off 1.4 per cent from $959,216 in May 2025.

Total dollar volume across the province was $6.42 billion, down 3.4 per cent year-over-year, and — maybe the most telling stat of all — BC's MLS® unit sales were a full 26.39 per cent below the ten-year average for the month of May.

BCREA Chief Economist Brendon Ogmundson put it plainly, pointing to rising mortgage rates and a softening labour market as the main forces holding activity back, especially in the Lower Mainland. The recent uptick in rates, he noted, is an unexpected headwind that could push a broader recovery further down the road.

Zooming out to the year-to-date picture doesn't paint a rosier story: BC's residential sales dollar volume is down 8 per cent so far in 2026, sitting at $25.1 billion, with unit sales down 6.9 per cent at 26,681 transactions and the average price down 1.2 per cent to $941,883.

How Vancouver Island Compares

Here's where it gets a little more interesting for those of us on this side of the water. Vancouver Island as a region held up relatively well by provincial standards. The average residential price was $768,621 in May, essentially flat year-over-year (down just 0.4 per cent), and unit sales of 749 were down only 1.1 per cent — a much gentler dip than the provincial average.

Victoria told a slightly different story: 691 units sold, down 5.3 per cent from last May, but the average price actually climbed 3.5 per cent to $1,051,018. Active listings in Victoria were up 6.6 per cent year-over-year, giving buyers more room to shop and compare than they've had in a while.

Taken together, it's a market that's adjusting rather than retreating. Inventory is building, price growth has slowed (or reversed slightly, depending on where you look), and the frantic pace of a few years back has given way to something more measured.

Why Mortgage Rates Are the Story Right Now

It's tempting to chalk this slowdown up to "the economy" in a general sense, but the more specific driver is borrowing costs. As rates have ticked upward this year, the math on monthly payments has changed for a lot of households, and that's translated directly into fewer transactions — even in markets, like ours, where prices have stayed comparatively stable.

It's also worth remembering that mortgage rates and the broader economic backdrop don't move in a straight line. Global events, labour market data, and the Bank of Canada's rate decisions all play a role, and the picture can shift from one announcement to the next.

What This Means If You're Thinking About Buying or Selling

For buyers, a quieter market with more active listings generally means a little more breathing room — fewer bidding wars, more time to do your homework, and more negotiating leverage than we've seen in recent years.

For sellers, especially on the Island where prices have held up better than the provincial average, it's less about panic and more about pricing realistically and presenting well. Homes that are priced to reflect current conditions are still moving; it's the ones priced for 2022 that tend to sit.

Either way, the best move is usually the same: understand what's actually happening in your specific neighbourhood, not just the provincial headline.

If you'd like a read on how this all plays out in your corner of the South Island — Greater Victoria, the Westshore, Sooke, or the Cowichan Valley — I'm always happy to chat. No pressure, just a real conversation about what the numbers mean for you.

Mike Doughty REALTOR® | RE/MAX Camosun 778-400-0475 | mike@mikedoughty.ca | www.southislandliving.ca

Source: British Columbia Real Estate Association (BCREA), "Sales Struggle Against a Weak Economy and Rising Mortgage Rates," June 11, 2026.

The Bank of Canada held its overnight rate at 2.25% on June 10, 2026 — the fifth consecutive hold. Here's what it means for the Victoria and South Island real estate market.

Another Hold — But the Conversation Is Getting More Complicated

If you've been watching the Bank of Canada closely, yesterday's decision probably felt familiar: the overnight rate stayed put at 2.25% for the fifth consecutive time on June 10, 2026. No cuts. No hikes. Another pause. Money.ca

But here's the thing — this hold feels different from the previous four. The backdrop has shifted, and if you're thinking about buying, selling, or renewing a mortgage on the South Island, it's worth understanding why.

What's Driving the Hold

The Bank is essentially stuck navigating two competing forces pulling in opposite directions.

On one side, the Canadian economy is soft. Economic activity in Canada has been weak and uncertainty about U.S. trade policy persists. Business investment is down, government spending has pulled back, and housing activity has been sluggish. Not exactly the conditions that call for higher borrowing costs. TD

On the other side, inflation is creeping up — and the reason why matters. The war in Iran has effectively closed most of the Strait of Hormuz, stripping roughly 10 per cent of global oil supply from the market, causing West Texas Intermediate crude to surge from about US$75 to nearly US$100 a barrel. That kind of supply shock pushes headline inflation higher while simultaneously dragging on economic growth — a stagflationary squeeze that leaves the Bank with very little room to manoeuvre. Mortgage Sandbox

CPI inflation rose to 2.8% in April, largely in line with the Bank's expectations. The good news: core inflation remains around 2%, meaning higher energy costs haven't broadly spilled over into everyday prices — yet. The Bank is watching closely, and for now is choosing to look through the war's short-term impact on headline inflation.

Two-Way Risk: Cuts or Hikes Both on the Table

Here's what's new this announcement: Governor Tiff Macklem made it clear that the next move could go in either direction — a cut if U.S. tariffs escalate and hit the Canadian economy harder, or a hike if energy-driven inflation from the Middle East conflict becomes entrenched. Money.ca

That kind of explicit two-way language from a central bank governor is notable. It signals that the Bank is genuinely uncertain about what comes next — and that the economic picture could break either way depending on how the geopolitical situation evolves.

The current consensus among economists is that the Bank will hold at 2.25% through the rest of 2026, with a gradual move back toward 2.75% by end of 2027 if growth and inflation follow the current outlook. But if subsequent inflation data shows rapid price acceleration, a rate hike could be back on the table before that.

The next rate decision is July 15, 2026, when the Bank will also release its next full Monetary Policy Report — the first complete update to official growth and inflation projections since April.

What This Means for South Island Buyers and Sellers

In practical terms, another hold means mortgage rates aren't moving today. The prime rate remains at 4.45%, with the lowest available five-year variable rates still around 3.35%. Ratehub

For buyers, the holding pattern means the borrowing environment is stable for now — and that window may be narrower than it looks. For the first time this cycle, the Bank signalled explicitly that both cuts and hikes remain on the table depending on how trade and energy risks resolve. The era of falling rates that defined 2024–2025 appears to be over. Nesto

Victoria's housing market has seen the average home price ease slightly — down about 1.6% year-over-year to roughly $1,043,987. Combined with stable borrowing costs, this creates a genuinely interesting window for buyers who've been sitting on the fence waiting for either prices or rates to move further in their favour. Ratehub

For sellers, the continued hold provides predictability. Buyers aren't being priced out by sudden rate increases, and financing conditions remain workable. That said, a pronounced slowdown in population growth driven by changes in immigration policy is further constraining Canada's growth drivers, which means demand-side pressure on the South Island market is more muted than it was a few years ago. Pricing realistically matters more than ever. BCREA

The Bottom Line

The Bank of Canada is holding steady — but it's doing so in an increasingly uncertain environment. The Iran conflict, residual trade tensions with the U.S., and softening domestic growth have put the Bank in a genuinely difficult position. For now, the rate holds. But anyone making a real estate decision in the next six to twelve months should be planning for a range of scenarios, not a single outcome.

If you're curious how this rate environment affects your specific situation — whether you're buying your first home in Langford, upsizing in Saanich, or thinking about selling in the Cowichan Valley — I'm always happy to talk it through.

📞 778-400-0475 | mike@mikedoughty.ca | [southislandliving.ca]

[Internal link: Victoria Real Estate Market Update – May 2026] [Internal link: First-Time Home Buyers' Guide – South Vancouver Island]

The spring 2026 real estate market on Southern Vancouver Island is wide open — more inventory than we've seen in over a decade, and buyers holding the cards. Here's what the numbers mean for your neighbourhood.

The Inventory Shift That Changes Everything

Something meaningful happened in the Greater Victoria market this spring, and it's been building all year. At the end of May 2026, there were 4,029 active listings on the Victoria Real Estate Board MLS® — the highest inventory level in eleven years. That's an 8.6 percent jump from April alone, and 8.4 percent more than we saw at the same time last year.

When VREB Chair Fergus Kyne says "there's no more waiting — the spring market is here," he's not just talking about warmer weather. He's talking about a market that has fundamentally shifted in favour of buyers. More choice. More time to make decisions. More room to negotiate.

That's a big deal on an island where, not long ago, buyers were waiving subjects and writing offers the same afternoon they walked through the door.

What Sold in May — and What Didn't

Total sales across the VREB region came in at 713 properties in May 2026 — a healthy bump of 10.9 percent over April, but still 5.9 percent below May 2025. Spring momentum is real, but the year-over-year gap tells you buyers are being deliberate.

Breaking it down by property type:

Single-family homes led volume with 385 sales, down 4 percent from a year ago. The MLS® HPI benchmark price for a single-family home in the Victoria Core sits at $1,339,000 — essentially flat, up just 0.3 percent year over year and barely changed from April's $1,339,100. The market is holding value, but it's not running.

Condominiums saw the sharpest year-over-year sales decline, at -14.9 percent, with 188 units sold. Benchmark condo prices in the Victoria Core dropped 1.9 percent from a year ago to $551,400 — down from $558,300 in April. Condo sellers are feeling more pressure than any other segment right now.

Townhomes were the bright spot. 98 sold in May, up 8.9 percent from May 2025. The townhouse benchmark in the Core held at $836,800 — down slightly from April but resilient relative to the rest of the market. Townhomes continue to attract buyers who want more space than a condo but aren't quite ready to stretch to a detached home price.

A Closer Look — Victoria Core vs. Westshore vs. Peninsula

The VREB data breaks down benchmark prices by sub-market, and the variation is worth paying attention to.

For single-family homes:

The Victoria Core benchmark sits at $1,339,000 (essentially flat year-over-year). The Westshore — covering Langford, Colwood, View Royal and area — has softened more noticeably, with its benchmark at $1,028,100, down 2.8 percent from May 2025. The Peninsula (Saanich, North Saanich, Sidney) is the standout, rising 4.3 percent year over year to $1,292,000.

For condos, the picture is broadly softer across all zones, with the Westshore condo benchmark at $508,300 (down 1.1% year over year) and the Core at $551,400 (down 1.9%).

What the Sales-to-Active-Listings Ratio Tells Us

The sales-to-active-listings ratio — one of the clearest signals of market pressure — is sitting in the 17–28 percent range, which BCREA defines as a balanced market. Technically, neither buyers nor sellers has a strong edge in pricing pressure. But with inventory at eleven-year highs, buyers have practical advantages that the ratio alone doesn't fully capture: time, selection, and leverage on negotiation.

Sellers who understand this are pricing accordingly and getting deals done. Those who are anchoring to 2022 or 2023 values are watching their listings sit.

Vancouver Island Beyond Victoria — The VIREB Picture

For those of us with roots or eyes on communities north of the Malahat, the Vancouver Island Real Estate Board (VIREB) numbers tell a complementary story.

VIREB recorded 768 unit sales across all property types in May 2026 — down just one per cent from a year ago. That's relative stability across a broad geography. Active listings board-wide were 4,585, up three per cent year over year.

In the Cowichan Valley, the single-family benchmark came in at $789,800 — essentially holding from May 2025, one of the more stable sub-markets on the Island. Townhouse sales across the VIREB area were a standout, up 33 percent year over year.

VIREB CEO Jason Yochim captured the mood well: the market is seeing activity on well-priced properties, including multiple-offer situations in some cases, while homes above market expectations are taking longer to sell. Buyers are measured. Sellers need to be realistic.

The Bottom Line for Southern Vancouver Island Buyers and Sellers This Spring

If you're buying, this is one of the better-positioned markets on Southern Vancouver Island in recent memory. Inventory is high, competition has eased, and there's room to be strategic.

If you're selling, the fundamentals are still sound — but presentation and pricing matter more than they have in years. As Chair Kyne put it, motivated sellers need to enter the market with competitive pricing and a clear-eyed understanding of what their property is worth right now, not two years ago.

The spring market is here. It just requires a different playbook than the one a lot of people remember.

Mike Doughty is a REALTOR® with RE/MAX Camosun serving Greater Victoria, the Westshore, Sooke, and the Cowichan Valley. For a conversation about what May's numbers mean for your specific situation, reach out directly.

📞 778-400-0475 | ✉️ mike@mikedoughty.ca | 🌐 www.southislandliving.ca

Data sources: Victoria Real Estate Board (VREB) May 2026 Statistics Package; Vancouver Island Real Estate Board (VIREB) May 2026 Monthly Statistics Package. MLS® HPI benchmark prices reflect data from the Victoria Core and VIREB board area.