September 2025, Market Update


September 2025

Market Analysis & Island Life

Everything seems earlier…here we are at the Labour Day Holiday Weekend, and the Monday holiday is September 1st. (Pay attention to speed limits and to children walking to school on the 2nd).

Another earlier moment: Fall Fair is on the weekend of 6th and 7th. If you’ve never been to this loved event, make this the year you enjoy it…the two days are very different…if you go, try to take in both.

Labour Day Weekend Scene

Isabella Point Beauty

? Harvest Season

It is Harvest time, the bounty of Salt Spring and the Gulf Islands is everywhere…Saturday Market, Tuesday farmer’s market, farmgate stands, Fall Fair, it is a very alluring season. Towards end of September, there is a float-in from Orcas Island…check dates/times at Chamber. The focus is on Ganges Village (reportedly, 100 boats will be in the Harbour).

Last days of ArtCraft at Mahon Hall, of exhibits at ArtSpring, of showings at Ganges galleries, with new options throughout late September into October (yes, it’s SSNAP time…Salt Spring National Art Prize). Salt Spring truly is an artist’s haven.

Scenic Salt Spring

Island Vistas

Island Life

September Beauty

Real Estate Market Update

What about that ever interesting real estate market? It is not a collapsing market, in spite of long stretches of buyer inaction. Inventory remains low. Most owners still do not want to be sellers, unless they have to. There is still uncertainty that makes buyers pause in action. Buyers set markets, not sellers or realtors.

150+

Current Listings

380-420

“Normal” Market

Stable

Price Points

There are currently approximately 150+ listings (no matter price or type) on Salt Spring. In a more “normal” market, there might be 380 to 420 listings. Except for some small activity in sales between October 2024 and January 2025, the three years (2022, 2023, 2024) were notable for lack of buyer action…this was the case across Canada. February 2025 to July 2025 saw this same treading water outcome from buyers.

The Fall Market (September to January) is often buoyant in the Gulf Islands. Price points are remaining relatively stable, although reductions do take place at point of a sale. There are no local buyers on the Gulf Islands. Sellers do listen to the buyer voice. The first step in any purchase is for the buyer to choose the Gulf Island that they opt to move to. Then they will decide on the property on that island. It’s always a two step dance then, on any secondary home/recreational purchase, on any Gulf Island.

Gulf Islands Properties

Premier Acreage

Exceptional Gulf Islands Properties

People do travel in the early Fall…although it gets darker earlier (super star-watching time), the days remain warm and sunny. Ideal timeline.

Questions about the Gulf Islands real estate market?

More information on the coastal/Gulf Islands real estate markets, and the many significant “happenings” on Salt Spring in September/October?

Welcome always your inquiries. Thank you.


liread33@gmail.com

Article prepared for Salt Spring Island real estate updates

September 2025

Opposition Leader’s Remarks

BC Must Appeal Cowichan Decision to Protect Homeowners, Farmers, and Small Business Owners

August 17, 2025

Property Rights & Legal Appeals

BC Must Appeal Cowichan Decision to Protect Homeowners, Farmers, and Small Business Owners

Opposition Leader Calls for Immediate Appeal

VANCOUVER, BC: Opposition Leader John Rustad says “BC must appeal the Cowichan Tribes v. Canada (Attorney General) decision to protect homeowners, farmers, and small business owners.” He says Premier David Eby’s immediate inaction amounts to denying British Columbians that appeal, leaving families, municipalities, and businesses in a state of dangerous economic uncertainty.

“Eby laid the groundwork for this mess years ago, and now he’s refusing to clean it up. Private property rights are the foundation of our democracy. You cannot have reconciliation by stripping away rights from one group to give them to another — and you cannot have economic stability without certainty in land ownership.”

Supreme Court Decision Impact

The B.C. Supreme Court decision grants Aboriginal title over major Richmond lands, including port facilities, municipal infrastructure, and private property — creating legal overlap that threatens investment, mortgages, and property security.

Economic Concerns at Critical Time

“This comes at the worst possible time — 16,000 jobs lost, record debt, collapsing investor confidence, and U.S. tariffs hammering our economy,” said Steve Kooner, Critic for Attorney General.

“Residents in my riding are worried that when their mortgages come up for renewal, overlapping Aboriginal title could cloud their freehold ownership. They fear a future where their homes are treated like 99-year leases, with no guarantee of renewal. That’s the kind of nightmare scenario British Columbians are bracing for — and Attorney General Niki Sharma is doing nothing to prevent it.”

Concerns About Community Division

Scott McInnis, Critic for Indigenous Relations and Reconciliation, says the ruling is already causing unnecessary division.

“This decision has created conflict between the Cowichan, Musqueam, and Tsawwassen First Nations, and risks undermining trust between Indigenous and non-Indigenous communities across B.C. True reconciliation can’t be built on division or legal uncertainty.”

Call for Immediate Action

Kooner said the NDP’s silence is “effectively a denial” of an appeal, despite the fact that economic stability and reconciliation both depend on clear, secure property rights.

“By failing to act immediately, the NDP has chosen to leave British Columbians exposed to uncertainty that will drive away investment, slow the housing market, and punish families already struggling with higher interest rates. Eby and Sharma had years to resolve this — they failed then, and they’re failing now. That’s why an immediate appeal is the only responsible option.”

Understanding B.C.’s Land Title Act and Recent Developments

Property Rights & Reconciliation

Understanding B.C.’s Land Title Act

The Torrens System: “What is on Title is What Is”

The Land Title Act in B.C. follows the Torrens system from Australia and is based on “what is on title is what is”.

It’s a strong Act and means that a user on a pathway across private land, for 20 years say, because an owner allowed it, does not get to continue this use when the property sells, unless it is stated on title. Oral agreements and long term usages don’t count…it has to be on title.

Historical Context and Our Response

It is definitely understood that serious transgressions occurred in colonial times with indigenous peoples globally.

We don’t get to choose our time, but we do get to decide how to respond to issues of our time. Lack of proper treaty arrangements and coercion of lifestyles, by removing children from families and instead enforcing on them lifestyles current in late 1800s to mid-20th century, caused many difficult and shocking transgressions.

Understanding “Reconciliation”

Reconciliation is a word used all the time now. The dictionary usage is noted as:

  • 1. The restoration of friendly relations.

    “his reconciliation with your uncle”

    Similar: reuniting, reunion, conciliation, reconcilement, pacification, appeasement, placating, propitiation, mollification, resolution, settlement

  • 2. The action of making one view or belief compatible with another.

    “he aims to bring about a reconciliation between art and technology”

These are rudimentary options and there will be other dictionary meanings. It seems to imply that a divide between two parties can be solved.

Recent Supreme Court Ruling

It’s essential for all property owners to seek advice (from legal, mortgage, government sources) about the Land Title Act and the security of private land ownership in B.C., as a result of the recent Supreme Court of B.C. ruling on indigenous ownership of Fraser River fishing grounds and Lulu Island (now in Richmond).

This needs to be well understood by all parties (indigenous tribes and property owners with deeds to land parcels).

Seeking Professional Guidance

Who to Contact for Advice:

  • Your Lawyer
    Legal interpretation and implications
  • Your Mortgage Broker
    Financing considerations
  • Your MLA
    Legislative perspective
  • BCFSA
    BC Financial Services Authority – now in charge of real estate industry in B.C.

This is a serious matter to understand and it is important to seek answers to any questions you may have.

August 2025, Market Update – Salt Spring Island

Salt Spring Island Real Estate Update

So, here we are, on August 1st, half way through the summer vacation time and starting into the last half of the business year.

Salt Spring Island Farm

The first half has been full of chaos and uncertainty. The premiers of the ten provinces and the Prime Minister have not created opportunities for inter-provincial trade. The immediate reaction from some premiers was confrontational re President Trump’s tariffs. Negotiation is not usually successful if confrontation is the only response. What is that old saying? You catch more flies with honey?

The Canadian Spirit

Canadians are a resourceful people, they invent things, they are musicians, comedians, engineers, and are generally kind and non-confrontational. They do not back down. They have been courageously part of wars they believed in. They can be counted on.

In a way, there are ten Canadas…each province is uniquely itself and we haven’t even touched on the Territories. Remember the BlackBerry? It was a Canadian product. What about the Avro Arrow plane?

Marina Docks

Gulf Islands: Where Creativity Thrives

Salt Spring and the Gulf Islands are artists colonies: writers, actors, dancers, musicians, painters, weavers, ceramic artisans, potters, sculptors, lighting experts…creative opportunities are a Gulf Islands trademark. Discover!

“We are not ‘local’…we just happen to have chosen to live ‘locally’.”
— A Gulf Islands Sculptor

Long Harbour Ferry

Community Through Volunteerism

That is also true in real estate…we arrive, we stay, we leave. It’s a choice to live the islands lifestyle, and those Canadian attributes are also part of the volunteer attitude found on the Gulf Islands.

Salt Spring Volunteer Achievements:

  • ArtSpring performance venue
  • The indoor pool
  • The indoor tennis
  • Network of walking paths so do not have to walk on busy roads
  • And so forth…

Note that the first major effort was to build ArtSpring…which sums up Salt Spring’s authentic “arts first” attribute.

Real Estate Market Dynamics

How does real estate fare in an unincorporated environment that is governed by the Islands Trust, a provincial government body created “to preserve and protect”, back in 1974? It follows the patterns of trends, the ups and downs of all markets, and is not detached from global or national impacts.

Markets are markets, wherever they are.

Post-2008 Recovery

In the aftermath of the 2008 economic collapse, urban areas recovered first and more quickly.

Covid-Era Shift

The aftermath of the Covid closures of 2020? A flight from urban to rural occurred. Lack of inventory caused prices to rise dramatically and saw multiple offer situations.

2022-2025 Market Timeline

Between 2022 and 2024, across Canada, a buyer pause developed. Low inventory and relatively stable pricing and lack of buyer interest in action were outcomes of those years. 2025’s first half was full of uncertainty and resulting inaction.

Questions for Leadership

My question: where are the premiers and PM in tapping into the Canadian strength of character? Where is the “honey” in a negotiation with Trump?

80%
U.S. customer share of Canadian goods

7%
Other countries as replacement buyers

Canada has what U.S. might like. Was Canada lazy about connections elsewhere? Does U.S. need us and did our politicians simply stamp their feet or did they consider ways to offset the U.S. changes to their country’s structure? What happened to Canadian creative initiatives? Hmmm….we are smart cookies, aren’t we? And your thoughts are? Always welcome.

Meantime, it’s August 1st, and it starts with the B.C. Day Holiday Weekend…enjoy the special events. It’s still wonderful summer.

Wine Grapes

August 2025 Local Market Snapshot

Inventory

Remains low across all property types

Prices

Relatively stable, although reductions may take place at point of sale

Buyer Activity

Buyers remain uncertain. Inactivity is still with us

Key Insight: Buyers set markets.

We may have to wait to early September, Labour Day Weekend, to see if buyer inertia is over and if there will be a projected Fall Market. August often begins Fall patterns.

Agricultural Gem

More questions about market conditions?

Look forward to hearing from you.

July 3, 2025 Market Update – Greater Vancouver REALTORS®


July 3, 2025 Market Update

Home Sale Trend Stabilizing in June

by: Greater Vancouver REALTORS® (GVR)

After a turbulent first half of the year, home sales registered on the MLS® across Metro Vancouver are showing emerging signs of a recovery, down ten per cent year-over-year – halving the decline seen last month.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in June 2025, a 9.8 per cent decrease from the 2,418 sales recorded in June 2024. This was 25.8 per cent below the 10-year seasonal average (2,940).

“On a trended basis, signs are emerging that sales activity is rounding the corner after a challenging first half to the year, with the year-over-year decline in sales in June halving the decline we saw in May,” said Andrew Lis, GVR’s director of economics and data analytics. “If this momentum continues, it may not be long before sales are up year-over-year, which would mark a shift toward a market with more demand than the unusually low demand we’ve seen so far this year.”

Inventory Levels Surge

There were 6,315 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2025. This represents a 10.3 per cent increase compared to the 5,723 properties listed in June 2024. This was 12.7 per cent above the 10-year seasonal average (5,604).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,561, a 23.8 per cent increase compared to June 2024 (14,182). This is 43.7 per cent above the 10-year seasonal average (12,223).

Sales-to-Active Listings Ratios by Property Type:

  • Overall Market
    12.8%
  • Detached Homes
    9.9%
  • Attached Homes
    16.9%
  • Apartments
    13.9%

Market Dynamics & Price Pressure

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“As home sales regain their footing, inventory levels aren’t building as quickly as we’ve seen lately,” Lis said. “Most market segments remain in balanced market conditions, which has generally kept prices trending sideways since the start of the year. With over 17,000 listings on the market right now, and with mortgage rates down around two per cent since last summer, buyers are enjoying some of the most favorable conditions seen in years.”

Benchmark Pricing Overview

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,100. This represents a 2.8 per cent decrease over June 2024 and a 0.3 per cent decrease compared to May 2025.

Property Performance Summary

Detached Homes

$1,994,500

  • • 657 sales (-5.3% YoY)
  • • -3.2% vs June 2024
  • • -0.1% vs May 2025

Apartment Homes

$748,400

  • • 1,040 sales (-16.5% YoY)
  • • -3.2% vs June 2024
  • • -1.2% vs May 2025

Attached Homes

$1,103,900

  • • 473 sales (+3.7% YoY)
  • • -3.0% vs June 2024
  • • -0.3% vs May 2025

July 1, 2025 – Salt Spring Island Market Analysis


July, 2025

Summer-Summer is Really Here

Salt Spring Island scenic view

Summer-summer is really here…July 1st is Canada Day, the birthday celebration of the country’s beginning days. Although with less razzle-dazzle than the U.S. version on July 4th, both these dates unite the very different provinces and states that make up the two neighbouring countries.

On the Gulf Islands, they melt together and boaters love the protected waters between the Canadian Southern Gulf Islands and the U.S. San Juan Islands. Summer is a short season…catch all the amazing array offered right now and remember to enjoy it all.

Gulf Islands waters

The Ever Interesting Real Estate Market

What about that ever interesting thing called the real estate market? No matter the season, it’s always expressing buying and selling. Like all markets, it’s never static…up or down or in that mid-moment when it’s traveling in either direction. All markets are restless and they are dependent on buyer action.

Salt Spring Island landscape

The covid closures in early 2020 could be the reason for the erasing of inventory and the resulting price escalation in rural areas. Although 2022 to 2024 continued the lack of inventory and the relative stability of prices, buyers were pausing in action. A tiny flurry of activity between October 2024 and January 2025 promised a steadier market in many forecasts.

Between February and May, disruptive issues came to the fore, and market conditions were uncertain. Another buyer pause developed. As we enter July, the tone of 2025 will become evident.

Salt Spring Island property view

A Powerful Societal Shift

What is happening? We are in a powerful societal shift. Millennial and GenZ voices are in the ascendant. It’s essential to understand social media as marketing platforms. Seamless interaction with AI is important. Those are just surface shifts. A decade from now, 2020 will seem like ancient history.

In a societal shift time, anyone can be thoughtful and can invent the new solutions. So there you are, in a ferry line-up, the hills rising up from Fulford Harbour, and you have the opportunity to invent a solution and get the message out on many platforms…thank you Steve Jobs. So, what do you do? Go for it!

Sunny July Awaits

Meantime it’s sunny July: Saturday Market, Tuesday Farmers Market, farmgate stands, award winning restaurants, patio dining with a view, wine tastings, cideries, Salt Spring Olive Oil, picnics at Ruckle Park, Drummond Park, Fernwood, Vesuvius.

Sunsets, star-watching. Hiking trails, ocean and lake swimming. Spa retreats, specialty shopping with local opportunity, studio tour…lots to see and enjoy and lots of time to lazily swing in a hammock, a fat book in your lap, and to just “be”.

It’s July. Enjoy!