November Market Update

November Market Update (Reflecting October Data) Prepared for Gillette & Associates This fall’s market is looking more balanced and predictable—a welcome shift compared with the volatility seen in major urban centers. According to VIREB, October recorded 649 total sales across all property types , down 9% year-over-year. Inventory also tightened slightly, with 3,838 active listings , 4% lower than last year.From our vantage point at Gillette & Associates, this is the hallmark of a market settling into equilibrium. Prices are holding, buyers are active—but cautious—and well-positioned listings continue to move. Nanaimo Market Snapshot Sales Activity Single-family homes: 317 sales ↓ 8% year-over-year ↑ 3% from September Condo apartments: 69 sales ↓ 13% year-over-year ↑ 17% from September Row/townhomes: 78 sales ↓ 6% year-over-year ↓ 1% from September Inventory Single-family: 1,224 active (vs. 1,352 last year) Condos: 362 active (vs. 366 last year) Row/townhomes: 319 active (vs. 299 last year) Benchmark Prices Single-family: $813,900 (↑ 1% YoY) Condos: $411,700 (↑ 4% YoY) Townhomes: $542,900 (↓ 1% YoY) What We’re Seeing Locally Nanaimo remains one of the most stable pockets on the Island. Homes priced correctly—especially those near great schools, renovated properties, or strong lifestyle locations—continue to see healthy activity. Buyers are value-driven but engaged, and the softer fall pace is giving them more time to make decisions without the high-pressure environment we saw in previous cycles. Vancouver Island (VIREB Region) Overview Benchmark Price Changes by Area Campbell River: $704,200 (↑ 1% YoY) Comox Valley: $859,100 (↑ 3% YoY) Cowichan Valley: $803,700 (↑ 5% YoY) Nanaimo: $813,900 (↑ 1% YoY) Parksivlle–Qualicum: $920,700 (↑ 3% YoY) Port Alberni: $521,000 (↑ 4% YoY) North Island: $464,600 (↑ 8% YoY) Across the region, we’re seeing moderate price growth supported by steady demand and manageable supply levels. The Island continues to outperform when co…