2025 was a year of stabilization and selective growth in Salt Spring Island’s real estate market. Given the Island’s small and highly individualized market, median prices provide the most reliable insight, as a few high- or low-value sales can skew averages. This report combines median pricing, sales volume, days on market, and 10-year trends with property-type and oceanfront data to give a comprehensive market overview.
The data is derived from the Victoria Real Estate Board MLS data and might not include a few sales completed privately or on other boards.
Overall Market Performance
The Island saw modest median price growth and faster sales, particularly for well-priced residential properties. However, small sample sizes mean trends should be interpreted cautiously.
Median Sale Price (All Properties): $861,250 (2024) → $900,000 (2025)
Median Days on Market: 69 (2024) → 59 (2025)
Inventory Context: 2025 active listings show modest fluctuations throughout the year; absorption rates indicate a balanced market overall.
Single-Family Homes
Single family homes remain the market backbone and continue to dominate market activity. Oceanfront homes accounted for a significant portion of high-end sales. We also saw the return of some modest homes which were more accessible to entry-level buyers. This segment highlights the diversity of Salt Spring Island’s residential market.
Median Sale Price: $1,032,500 (2024) → $1,058,500 (2025)
Units sold 114
High-Value Activity:
9 homes $2M–$3M
3 homes $3M+
Oceanfront SFDs: 16 homes
Notable Extremes:
Least expensive: $440,000 — 2-bed cabin on 0.6 acre
Most expensive: $4,300,000 — nearly 5 acres with views, main house, cottage, studio/workshop but not waterfront
Condos & Townhomes
The median price decline reflects the mix of properties sold rather than broad market weakness. One oceanfront townhome closed in 2025. Well-priced condos and townhomes sold efficiently, while higher-priced units were less common.
Median Sale Price: $700,000 (2024) → $662,450 (2025)
Units Sold: 16
Oceanfront Condo/Townhome Sales: 1
Manufactured Homes & Other Properties
Manufactured Homes Sold: 8
Recreational/Other Sold: 3
Land Market
The decrease in median land price reflects which parcels sold in 2025—more modest or lower-priced lots were active, while larger or prime parcels were less frequently sold. Serviced and well-located lots remained desirable.
Median Price: $449,500 (2024) → $340,000 (2025)
Units Sold: 18
Market Trends & Historical Context
Salt Spring Island is a collection of micro-markets. Historical trends show long-term price growth but highlight the variability of smaller segments. Inventory levels, seasonal trends, and buyer interest in oceanfront or premium properties continue to influence sales.
10-Year Residential Sales
Median prices have generally risen over the decade; averages highlight influence of high-end sales
10-Year Land Sales & Prices:
Land prices fluctuate more, influenced by parcel size, location, and market availability
10-Year Residential Sales & Active Listings
Provides perspective on long-term activity and supply trends
Key Takeaways for 2025
Median prices up modestly: $861,250 → $900,000; days on the market decreased 69 → 59 days
Single-family homes lead market activity; oceanfront and luxury properties remain key drivers
Seasonal trends are evident, but well-priced listings consistently sold quickly.
Condo and land median declines reflect the mix of properties sold, not broad market weakness
Small-market caution: Each property is unique; median trends provide guidance but are not definitive
Strategic pricing and awareness of micro-markets remain critical for successful sales
