October 2025 Market Update

In October 2025, the Nanaimo real estate market showed signs of a balanced market with a slight dip in the median sold price to $776,500, down 4% from September. Home sales volume increased significantly compared to the previous year, with 94 sales recorded compared to 89 in October 2024, and active listings remained stable. The Vancouver Island Real Estate Board (VIREB) reported 649 total sales and six months of supply for all property types, indicating a balanced market. 

Key market indicators for Nanaimo in October 2025:

• Median Sold Price: Dropped to $776,500, a 4% decrease from September.

• Home Sales: 94 sales were recorded, a year-over-year increase from 89 in October 2024.

Vancouver Island

The benchmark price for a single-family home in the Vancouver Island market in October 2025 was $795,900, which represents a 2% increase from October 2024. The benchmark price for apartments was $411,700, a 4% year-over-year increase, and townhomes were at $542,900, down 1% from the previous year.

Key statistics for October 2025:

• Single-family home: The benchmark price was $795,900, up 2% from October 2024.

• Apartment: The benchmark price was $411,700, up 4% from October 2024.

• Townhouse: The benchmark price was $542,900, down 1% from October 2024. 

* Information provided by VIREB

Gabriola Island**

In October 2025, the Gabriola Island real estate market saw a median sold price of $499,000, a significant month-over-month decrease, and average days on market of 71 days. The market experienced 9 sold listings and 7 new listings, and the sales-to-active listings ratio was 14.2%. Market conditions are considered balanced, with a mix of buyers and sellers, though with some pressure on lower-priced homes. 

Key statistics for October 2025:

• Median Sold Price:  $499,000

• Average Days on Market: 71 days

• Sold Listings: 9

• New Listings: 7

• Property Type Distribution: Detached homes made up 55.6% of sales 

Market trends

• The median sold price decreased significantly by 30.2% from September 2025.

** Information provided by HouseSigma

Mortgage Rate Comparison: October 2024 vs October 2025

Term	October 2024	October 2025	Difference
1-Year Fixed	5.50%	5.36%	-0.14%
2-Year Fixed	5.20%	5.08%	-0.12%
3-Year Fixed	4.60%	4.45%	-0.15%
4-Year Fixed	4.70%	4.58%	-0.12%
5-Year Fixed	4.55%	4.40%	-0.15%
5-Year Variable	5.00%	4.25%	-0.75%

The table is put together based on information from WOWA, Statistic Canada and Rate Hub.