If you follow real estate headlines on Vancouver Island, you’ll regularly see statistics released by our Local Boards. These reports are helpful. I read them. I use them. And I think they serve a very important purpose.
But they don’t tell the whole story, especially when buyers and sellers try to apply regional data to a very specific home, street, or neighborhood.
As a Realtor and Associate Broker working day-to-day on Central Vancouver Island, I treat those statistics as context, not conclusions. Here’s why.
Regional Statistics Aren’t the Same as Local Reality
The available STATS cover a wide geographic area, including Nanaimo, Parksville, Qualicum, the Cowichan Valley, and North Island communities. These markets do not behave the same way even within the same month. I would go so far, as to say that there are pockets within some neighbourhoods that perform differently than the average for that area as well. Each neighbourhood has its own nuances, unique happenings, common or uncommon features to homes that require consideration.
When all of this data is averaged together:
Strong activity in one area can offset slower conditions in another
Neighbourhood-level changes disappear
Different property types get blended into one narrative
A headline that says “prices are up” or “sales are down” doesn’t automatically apply to your street, your price range, or your type of home.
That’s where nuance matters.
Benchmark Prices Are Always Looking Back
Our Local Market moves fast at times. Benchmark prices are based on completed sales, which means they are inherently backward-looking. In a stable market, that’s fine. In a shifting market, timing becomes important.
By the time benchmark data reflects a change:
Buyer sentiment may have already shifted
Negotiations may already be tighter or looser
Pricing pressure may already be visible in active listings
Benchmarks are useful for confirming trends but, they’re not a real-time pulse.
Not All Segments of the Market Move Together
Condos, single-family homes, townhomes, rural properties, and waterfront homes each respond differently to interest rates, inventory, and buyer behaviour. Within Condo/Apartment category you will see an entry-level condo lumped in with a Penthouse Condo, two very different products with two very different Buyer Profiles.
When these are grouped together:
One segment can be slowing while another is moving quickly
Entry-level and higher-end markets get averaged together
Important signals get diluted
What looks like a “balanced market” on paper may feel very different depending on where and what you’re buying or selling.
Sales Numbers Don’t Explain How Deals Are Getting Done
Sales volume is one of the most quoted stats, but it doesn’t tell you:
How long homes sat before selling
How many times the property was Re-Listed
Whether price reductions were required
How much negotiation occurred
How many deals failed and never completed
Two months can show similar sales numbers while feeling completely different on the ground.
What I Watch Instead
To understand what’s actually happening right now, I focus on local, practical indicators that reflect real buyer and seller behaviour.
Days on Market - by Neighbourhood
Rising days on market usually signal buyer hesitation or pricing misalignment. Declining days often point to stronger demand or more accurate pricing. This can vary significantly from one area to another. There is quite a list of scenarios that may affect days on market but I am not giving away all of my Trade Secrets.
List-to-Sale Price Ratios
I watch how close properties are selling to their asking price. This tells me where leverage sits and where adjustments are becoming more common. Many Agents are divided on this however, I also look at the sale prices of homes in the area vs. the B.C. Assessed Values to see if there are any patterns in pricing and sale price to the assessment numbers. I naturally look for patterns everywhere in order to collect information to prevent relying on any one source.
Inventory Flow, Not Just Inventory Numbers
A stable inventory count doesn’t always mean a stable market. I look at whether listings are turning over or quietly accumulating. Again, checking how much of the inventory has been relisted amongst the sample listings.
Financing Conditions and Buyer Sentiment
Interest rates matter, but so do approval rates, appraisal outcomes, stress-test impacts, and buyer confidence. These factors often show up in behaviour before they appear in published statistics.
Political Climate
Look at what happened this past summer 2025. The Political & Economical state of our Country, along with others, had a wicked effect on Buyers and Sellers. For good reason. These Societal undertones/overtones, whatever they were to you, have a large effect on people and it is important that we can observe, process, and advise accordingly, or as best as we can with our education and experience. I would most definitely say that Buyer/Seller Morale was different this last 8 or so months and we all know why.
Truly Comparable Sales
Not all comparables are equal. The most reliable pricing insights come from homes that genuinely compete: similar location, condition, age, and buyer profile. We can have an entire street of B.C. Boxes, some of which are completely renovated with central air, heat pump, new windows, roof. Then another portion are 1972 Original with hot water radiant heat and a jungle for a yard, moss lined roof. Listing exposure is so important in understanding prices, we need to see the components of the home. One house in Upper Lantzville is going to differ in price to the exact same house in Lower Lantzville on the water. We need constant listing exposure to be able to look at these products and assess the components of the home, style, location, selling features, possible buyer objections, the many different contributing factors.
Possible Buyer Objections
*Another thing to note are components of the home that may be buyer objections that we may have to overcome prior to the sale process. For example, it can be challenging selling a home, whose buyer profile is likely 60 plus and possibly has to consider future mobility, with 50 stairs in it. These things do make a difference in the overall ability to nail down an appropriate Buyer. This is where the really good agents roll up their sleeves and buff their nails before coming up with a sales and marketing plan. I had an Agent tell me that they once had the Sellers install an Elevator (the floor plan allowed for it pretty easily) and then relisted after the $30,000.00 approx. investment at the time, and Boom, SOLD. Clearly this is a drastic solution to a buyer objection however, you get the idea. With experience and a little creativity, we can tackle most buyer objections but, this is exactly where having a great Agent counts the most.
Why This Matters
When people rely too heavily on headline statistics, I often see:
Homes priced based on outdated expectations
Buyers hesitating when opportunities exist
Sellers surprised by negotiation dynamics
Overly generalized understanding of market conditions
Real estate decisions are hyper-local and time-sensitive. Broad statistics provide context, but good strategy comes from understanding what’s happening right now, in the specific market you’re in. To fully understand what is happening in the market we need to consider the vantage point of the Eagle (big picture, broad view) but, just as important to the happenings of the market is the vantage point of the Mouse (scurrying at ground level right where the action is happening). Combining these view points is where the sweet spot truly is. The full market scope is necessary to be effective in the Sale of a home or the Purchase of a home.
The Bottom Line
Local statistics are an important reference point, but they’re not a strategy on their own.
Accurate guidance comes from combining:
Neighbourhood-level analysis
Property-type context
Real-time market behaviour
On-the-ground experience
There are many factors that influence the way Agents price your home, the way we market your home, the way we approach your Listing in general. The same goes for working with Buyers in the process of a Purchase. Market Statistics are a very important part of that picture but, not to be relied upon alone. I pool information from many of the different market influences before I attempt to paint the picture. This industry is very much based on data, and the sources of that data are not always static. As an Agent, I act as your divining rod for market conditions and that is a role I am passionate about. There is never a dull moment in Real Estate which means, those of us (Me) who thrive on change, current analysis, historical analysis are able to bring some peace to your process. This is what I mean when I say that,” You are the Captain of the Ship and I am on the Oars.” Let me do the hard work for you. This work is what I love to do!
Your Central Vancouver Island & Nanaimo Market Specialist,
Simone Bezeau
