Vancouver Island Real Estate Market Reports
In March 2026, Vancouver Island real estate recorded 636 sales across all VIREB zones. Buyers currently hold the advantage, with inventory exceeding demand across most zones. Browse monthly VIREB reports below or jump to the latest data.
By Dallas King, RE/MAX Generation | Data source: Vancouver Island Real Estate Board
Frequently Asked Questions
What areas does the VIREB cover?
The Vancouver Island Real Estate Board (VIREB) covers mid and north Vancouver Island: Campbell River, Comox Valley, Cowichan Valley, Nanaimo, Parksville-Qualicum, Port Alberni and West Coast, and North Island. It does not cover Greater Victoria, which is served by the Victoria Real Estate Board (VREB).
What is the sales-to-active ratio (S/A ratio)?
The sales-to-active ratio divides total monthly sales by total active listings. Below 12% indicates a buyer's market, 12-20% a balanced market, and above 20% a seller's market. VIREB publishes this data monthly across all property types.
What is a benchmark price?
The MLS Home Price Index (HPI) benchmark price represents a "typical" home in a given area and property type. VIREB publishes board-wide benchmarks for Single Family, Condo, and Townhouse, plus area-level Single Family benchmarks for each of its seven zones.
How does the VIREB report differ from the VREB report?
The VREB covers Greater Victoria (south Vancouver Island) and publishes area-level benchmarks for all three property types across 17 districts. The VIREB covers mid and north island and publishes area-level SFH benchmarks for seven zones, with condo and townhouse data available board-wide only.
How often are new VIREB market reports published?
New reports are published monthly, typically within the first two weeks after the Vancouver Island Real Estate Board releases its official statistics. Each report covers the previous calendar month.