Track the top of the Vancouver Island market north of the Malahat: houses, condos and townhomes listed at $2 million and above through the Vancouver Island Real Estate Board, with asking-price ranges, price per square foot, days on market and active inventory. The figures below are generated from current MLS® data and update as properties are listed, sold or repriced.
Island luxury market caution: The $2 million line captures oceanfront estates in Nanoose Bay, Lantzville and Qualicum Beach, large acreage and equestrian properties, new custom builds in the Comox Valley and Campbell River and the occasional resort home on the west coast, plus some farms and multi-unit holdings that list as residential. A handful of trophy listings can move the average by hundreds of thousands of dollars. Read the range and the middle of the table, not the average alone.
Vancouver Island Luxury Home Market Homes listed at $2 million and above, from Oceanside waterfront to Comox Valley and Campbell River estates
How to Read the Numbers
Understanding Vancouver Island Luxury Home Market Data
At the top of the market, land, shoreline and scarcity drive price far more than square footage, and the usual averages need care.
01
Where the $2M+ Homes Are
Luxury inventory follows the shoreline: Nanoose Bay, Lantzville, Parksville and Qualicum Beach, the Comox Valley and Campbell River supply much of it, with acreage estates in the Cowichan and Alberni valleys, Gulf Island waterfront and resort homes at Tofino and Ucluelet making up the rest.
02
Land Is Often the Value
Many Island luxury listings are large acreages, farms or multi-building properties where the house is a fraction of the price. Price per square foot of living area overstates the house and understates the land, so compare on frontage, acreage, outbuildings and location as well.
03
Thin Comparables, Long Market Times
With a limited number of active listings spread along hundreds of kilometres of coastline, true comparables are scarce and a luxury home can take many months to sell. Expect days on market in this report to run longer than in the general market.
04
Active Listings, Not Sold Prices
These statistics describe current asking prices and days on market, not sold values. Valuing a specific property takes recent comparable sales in the same community and adjustments for that property.