Tag Archives: market analysis

March 2026 – Market Update – Salt Spring Island


March, 2026

Spring Arrives

Salt Spring Island

It’s March…and meteorological Spring starts on March 1st. Will it come in like a lion and go out like a lamb…or vice versa?

March can deliver bursts of winter, can enjoy soft spring, can showcase budding trees amid orchards, and begin the welcome rhythm of early Spring. Every day is seconds longer and with Daylight Saving Time arriving on March 8th, the great Pacific Northwest Coast will be enjoying later sunsets.

March Break & the Gulf Islands

Salt Spring Island

March Break in B.C. falls between the 16th and the 27th. Time to seek out a retreat experience? Salt Spring and the Gulf Islands offer the discovery of the natural world. Savour the trails and parks, walking/hiking pleasures, try ocean kayaking, enjoy the gallery openings, discover the artistic heart of the islands.

Alternative health options will soothe and regenerate…take part as we peel off winter’s cocooning. Hastings House reopens on March 19th. Time to appreciate the beauty of this graceful opportunity…the best of country hotel lifestyle. Breathe.

Market Reality

Salt Spring Island

The real estate market on Salt Spring and the Gulf Islands continues to follow the path of low inventory, relatively stable pricing, and no local market. Time lags remain a part of all sales. First, a potential buyer has to discover a marketing piece on a Gulf Island and be attracted by it. Then they research each of the islands, visit one, may or may not view properties, then will mull over impressions. If they reacted positively on that first discovery visit, they will return to view available options. It usually takes a third visit to clarify interest and also pricing…then the offer process begins.

Salt Spring Island

For several years, most buyers of Gulf Islands properties have come from Vancouver/Lower Mainland areas, and for the most part they need to sell to buy and are seeking a rural lifestyle opportunity. They are looking to be self-sufficient. A flight from urban to rural works well with that internet opportunity to work from anywhere. Ease of communication allows choice.

An Era of Profound Change

In an era of continuing profound change (impact of AI, global concerns, serious political upheavals), resulting in a time of hesitation in action, it’s difficult at this very beginning of March to suggest a developing trend. It may take until late April to understand the tone of the 2026 marketplace. Patience, resilience, opting for new over established, might be a plan. Important to listen and to practice periphery vision. In change, lies opportunity.

The Salt Spring Advantage

Salt Spring Island

It’s interesting that Salt Spring enjoys service from three ferry terminals…that it has easy proximity to Vancouver Island…that it’s possible to benefit from a year-round lifestyle (whether January or July), that one is able to be a part of an energizing community and can also commute to be elsewhere…there is a lot of choice in how one lives (as long as one remembers the Islands Trust form of governance. “To preserve and protect….” was put in place in 1974. The Trust information is online and one needs to read it before buying a property. The Trust applies to all Gulf Islands).

As we ease into Spring, keep informed…many shifts have been forecast for this 2026 year. Stay tuned might be the mantra?

Meantime, it’s March. Smile.

February 2026, Market Analysis

February 2026

Here Comes February

Salt Spring Island

So, here comes February. A short month, with hearts and flowers (yes, it’s romantic Valentine’s Day), and also the annual Family Day Holiday Weekend.

It’s also introducing the Asian Lunar New Year (begins on the 17th), and is the beginning of the Year of the Fire Horse. Are we all ready to gallop into new adventures?

It is daily getting lighter as we are on the path to June and the longest day of the year. Meteorological Spring starts on March 1st.

Early spring on Salt Spring Island

Weather & Market Outlook

February might continue January’s Pineapple Express weather with mild temperatures and early flowering…or it may say “not so fast” and throw real Winter our way. In either case, it’s a short and sweet month, and after the practice run of almost daily changes in 2025, we are probably now able to digest any further disrupting shifts.

Real estate in our secondary home/recreational area continues to be characterized by low inventory and relatively stable pricing. Potential buyers inquire, may turn up to view (no local market here), but offer outcomes still are full of hesitations. This scenario has been in place for almost five years. Will 2026 be the improvement year? Many forecasters think so.

Gulf Islands landscape

The Two-Step Dance

It’s always a two step dance in any buyer decisions: step one is to decide which Gulf Island to buy on. Then one decides what property to choose in that locale.

It all takes time for a buyer decision and most sellers understand it can take one to two years to sell their property. Days on market may be important in a primary residence/city market, but are meaningless in a secondary home/rural region, with no local buyer pool.

Balanced Market

~380

listings on Salt Spring

Current Inventory

~89

listings on VREB

Definitely low inventory! The desire to buy is still accompanied by caution, hesitancy, concern.

Pacific Northwest Coast

An Epochal Time of Change

The impact of tariffs, the geopolitical concerns, the individual wars and rumours of larger wars, the polarization of political issues…add in AI and crypto currency…by the time we arrive at the end of 2026, we may not recognize the earlier days of the year.

It’s ever more important to practice our peripheral vision. Tunnel vision, prepared for us to fall into, no longer works. We seem to be in an epochal time of change. We don’t get to choose our time, but we do get to choose our response. This may be our Gutenberg moment. Important to remember that in change lies opportunity.

Salt Spring Island

Ownership Considerations

Already own on Salt Spring or a Gulf Island? A good idea to retain. Trying to buy? Perhaps shared ownership would be a key to positive results? Allow one to build equity and move on?

It’s important to consider options and not assume there’s only one way to accomplish our dream.

Interested in Ownership?

Interested in ownership on Salt Spring or a Gulf Island? Look forward to helping you to discover your special opportunity. Wanting updated market information, to understand market effects on your property? Contact me. Your best interests are my motivation.

We are all lucky to be on this thin strip of coastal beauty known as the Pacific Northwest Coast.

It’s February…enjoy!

November 2025, Market Analysis

November Market Update: Fall Beauty & Winter Transition

November coastal landscape

November is still classic Fall. Meteorological Winter begins on December 1st. November introduces the seasonal shift of the coastal winter pattern: rain, wind, leaves drifting in fields and parks, and delivering the deciduous branches into their stark outlines.

November. Many grey moments when sea and sky and the misty land masses all mesh together into diminishing daylight. Standard Time reappears. Snow? On the mountains where it belongs. November has its own spare beauty…it invites soup recipes, fireplace cheer, and the quiet of interiors.

The Fall/Winter Real Estate Market

What about real estate in this Fall/Winter market? It can be surprisingly buoyant. Sometimes, potential buyers have visited and viewed in late Spring or Summer seasons, and they then return to see things at their worst. There is no real worst, however, and visitors are also surprised that Salt Spring enjoys a year round lifestyle…lots to see and do, and the cultural opportunities are everywhere.

Salt Spring Island winter activities

Current Market Conditions

Inventory Challenge

Low inventory remains an issue across all Gulf Islands

Seller Behavior

Owners holding properties, selling only when necessary

Buyer Interest

Safe haven rural lifestyle preferred over urban choice

The lack of inventory also remains an issue everywhere. Most owners continue to keep their properties, only selling if they have to. This is the same story on all the Gulf Islands and on Vancouver Island. The buyer desire continues to welcome a safe haven rural lifestyle over an urban choice. An investment in real estate still offers the option of a way to preserve capital…currency concerns continue. Buyers do respond to marketing and do inquire about properties…they may turn up to view…there continue to be pauses in offer outcomes. Uncertainty creates those pauses in final decisions.

Gulf Islands lifestyle

Navigating Times of Change

It’s difficult to make solid calls on anything in a time of societal change. Global concerns affect everyone. When one studies the impact of Gutenberg and his printing press in the 14th Century, or the beginnings of the internet world as a digital lifestyle in the 1990s, or the introduction of robotics/AI as a society-wide option in 2025, it is clear that shift offers new opportunities at the same time that long accepted activities are disappearing.

What to do? Remember that we all have an editing function. We can observe, recognize what’s passing, and what is possible to “re-use” with some changes. It requires that we remember we can decide (observe…edit…experiment…opportunity).

November on Salt Spring

Meanwhile, it’s November. The markets are officially over for the season, but some farmers continue to showcase late harvests. The bracken narrowing hiking trails has gone and the trails are active. Sunday sailing races take over the schedule. It’s easy to get to Mt Washington if skiing is your thing.


  • Enjoy seasonal menus at our great restaurants

  • Check out ArtSpring’s offerings

  • The Ganges galleries showcase new works

  • Live music venues invite you to enjoy
Salt Spring Island community activities

On Island? Participate in the Remembrance Day ceremony on the 11th.

The interesting thing is that we all have the option of seeking new opportunities. We can all be thoughtful about next steps. I recently saw an interview with an actress in a new film…turns out she was all AI…nothing human at all…one could not tell. Hmmm……

Everything will be affected. Time to let your mind meander through discoveries…there is always an answer to every question.

More information on real estate opportunities on Salt Spring and the Gulf Islands? Look forward to hearing from you.

June 3, Salt Spring Island – Market Update


June 3, 2025 Market Update

Buyers Remain Hesitant as Inventory Builds

May saw inventory levels across Metro Vancouver reach another ten-year high, while home sales registered on the MLS® remained muted.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,228 in May 2025, an 18.5 per cent decrease from the 2,733 sales recorded in May 2024. This was 30.5 per cent below the 10-year seasonal average (3,206).

“While there are emerging signs that sales activity might be turning a corner, sales in May were below the ten-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of economics and data analytics. “On a year-to-date basis, sales in 2025 rank among the slowest to start the year in the past decade, closely mirroring the trends seen in 2019 and 2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but whether sales in 2025 might follow a similar pattern remains the million-dollar question.”

Inventory Levels Surge

There were 6,620 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2025. This represents a 3.9 per cent increase compared to the 6,374 properties listed in May 2024. This was 9.3 per cent above the 10-year seasonal average (6,055).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,094, a 25.7 per cent increase compared to May 2024 (13,600). This is 45.9 per cent above the 10-year seasonal average (11,718).

Sales-to-Active Listings Ratios by Property Type:

  • Overall Market
    13.4%
  • Detached Homes
    10.2%
  • Attached Homes
    17.4%
  • Apartments
    14.7%

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.

“With some of the healthiest levels of inventory seen in years, many sellers are adjusting price expectations, which has provided buyers more negotiating room and kept a firm lid on price escalation over the past few months,” Lis said. “From a seasonal perspective, sales in the summer months are typically quieter than the spring, but with such an unusually slow spring, we may have an unusually busy summer with so many having delayed their purchasing decisions. Either way, the market continues tilting in favour of buyers, which bodes well for anyone looking to make a purchase this summer.”

Benchmark Pricing Overview

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,177,100. This represents a 2.9 per cent decrease over May 2024 and a 0.6 per cent decrease compared to April 2025.

Property Performance Summary

Detached Homes

$1,997,400

  • • 654 sales (-22.7% YoY)
  • • -3.2% vs May 2024
  • • -1.2% vs April 2025

Apartment Homes

$757,300

  • • 1,087 sales (-18.8% YoY)
  • • -2.4% vs May 2024
  • • -0.7% vs April 2025

Attached Homes

$1,106,800

  • • 469 sales (-10.3% YoY)
  • • -3.4% vs May 2024
  • • +0.4% vs April 2025

Market Segment Report, April 6, 2025

2025 Market Segment Report, April 6, 2025



Salt Spring Island

We live in interesting times in all marketing options, including for real estate offerings.

It was very nice to receive recent acknowledgement from FeedSpot Top 100 Real Estate Blogs, for my consistent blogging.

Check this out: Feedspot Top 100 Real Estate Blogs

FeedSpot highlights many worthy real estate oriented blogs and awards them their badge.

I appreciated being noticed.

Thank you, FeedSpot.

Li.

As always, Stay Tuned!!

March 28th – Market Update – Times Colonist

Thank you to the Victoria newspaper (Times Colonist) for continuing to express various submissions of complaint about Bill 7. Important to be informed.

“Wrong direction’: B.C. Chamber of Commerce latest group to decry tariff bill” Opinion: Times Colonist March 28, 2025


Times Colonist

Bill 7 would give the cabinet powers to react to challenges from the actions of a foreign jurisdiction, or for a purpose “supporting the economy of British Columbia and Canada” without requiring debate in the legislature.

Rational oversight needed for Eby

Proposed legislation in British Columbia to give the cabinet sweeping powers to respond to threats from foreign governments amid Canada’s tariff fight is “a step in the wrong direction for democratic institutions,” the president of the provincial chamber of commerce says.

Fiona Famulak becomes the latest to voice concerns over legislation tabled this month that the provincial government says it needs to respond to U.S. President Donald Trump.

In a letter to Premier David Eby and Attorney General Niki Sharma released Wednesday, Famulak said the legislation known as Bill 7 lacks “guardrails” and allows the government to make nearly any change it wants to provincial laws “with the stroke of a pen.”

“As a nation, we universally decry the progression towards authoritarian rule through decree by the executive branch of the United States. There is no justification for taking similar steps here in British Columbia or Canada,” Famulak said.

“By not being accountable to the legislature, government is requiring that we move forward on faith and trust alone. This is neither sufficient nor acceptable.”

Famulak said the organization, which represents 36,000 businesses in the province, is concerned the legislation would allow government to remove or impose new conditions on existing licences or permits if it believes the action would support the economy, throwing business operations into flux.

The bill also includes sections that would give cabinet the power to implement charges on vehicles using B.C. infrastructure, allow the politicians to make directives about public-sector procurement, and eliminate provincial trade barriers by allowing goods produced, manufactured or grown elsewhere in Canada to be sold or used in B.C.

Ravi Kahlon, chair of B.C.’s cabinet committee on tariff response, said in a statement Thursday that they are hearing some concerns and questions about specific details of the bill and are talking to government partners now.

“We want to address any concerns and ensure B.C. is prepared to act with urgency to respond directly to Trump’s actions and protect B.C. businesses and jobs — as people expect us to do. This may mean additional guardrails,” his statement said.

Famulak said the chamber “wholeheartedly” endorses the removal of interprovincial trade barriers as part of the government’s response to the “unjustified and counterproductive tariffs.”

After praising the legislation’s focus on internal trade when it was released, the Greater Vancouver Board of Trade issued a letter the next day calling for the separation of the internal trade section from the rest of the bill.

“The other parts of Bill 7 are truly unprecedented in scope, including the sweeping powers that would be conferred to the cabinet,” president Bridgitte Anderson said in her letter.

“While it’s clear Trump’s trade war has spurred an economic emergency, it is not clear to us that the sweeping powers are required or justified.”

When the bill was tabled, Eby said Trump is “unpredictable” and “erratic” and the province needs to be able to move quickly to minimize damage from his actions.

“When there’s an emergency, like a natural disaster, we have these authorities. This is a human-caused disaster,” he said.

The legislation comes with a 2027 sunset clause and requires that the government report on its actions.

Trump has placed and then paused 25 per cent tariffs on Canadian goods since he became president, and on Wednesday signed an order that would put a 25 per cent tariff on automobile imports to the United States starting next week.

On April 2 he is set to implement what he calls “reciprocal” tariffs by raising U.S. duties to match the tax rates that other countries charge on imports.

B.C.’s government has said a 25 per cent tariff on Canadian goods and a similar response from Canada would cumulatively cost the province $69 billion in lost GDP if the trade war lasts the entire four years of the Trump presidency.

Concerns about the provincial legislation have also been raised by the Independent Contractors and Businesses Association, which called the bill an unprecedented attempt to concentrate power in the hands of the premier that must be stopped.

The Justice Centre for Constitutional Freedoms said the bill “erodes the distinction between the legislative and executive branches of government in British Columbia, thereby putting pressure on the constitutional principle of the separation of powers.”

Politicians return to Victoria next week and the bill is expected to be a major test for Eby’s government, which holds a majority of only one seat.

The BC Green Party, which signed a confidence agreement with Eby’s New Democrats, said its representatives continue to meet with the government this week over Bill 7.

Interim Green Leader Jeremy Valeriote said in a statement last week that Bill 7 in its current form has “vague wording” and “could allow for sweeping economic decisions without clear limits or transparency.”

This report by The Canadian Press was first published March 27, 2025.

Ashley Joannou, The Canadian Press