Nanaimo, BC
MARKET SLOWER THAN IN JULY BUT STILL AHEAD OF LAST YEAR
“August was slower than July, but that’s typical with back to school on the horizon,” says Naud. “However, sales were up from the previous August, and our market is proving to be resilient. There is pent-up demand but still some hesitancy that we attribute to ongoing tariff concerns.”
However, Naud adds that tariff worries have turned out to be more of a psychological deterrent than an economic one. The British Columbia Real Estate Association (BCREA) reports that the 35 per cent tariff is only on non-compliant goods, which is a very small share of exports (less than 10 per cent).
“The effective tariff rate on all Canadian exports to the United States is about five per cent only, and on U.S. imports to Canada, it’s about two per cent,” says Naud. “So, despite our initial fears, there has actually been minimal impact on growth or inflation.”

FULL REPORT HERE

Calgary, AB
Supply growth weighs on home prices
"Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years," said Ann-Marie Lurie, Chief Economist at CREB®. "The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts, which coincides with significant gains in new supply."  

FULL REPORT HERE

Toronto, ON
August home sales reported by the Toronto Regional Real Estate Board (TRREB) were up on a year-over-year basis. Over the same period, home buyers benefitted from an even larger increase in the inventory of listings. Average selling prices continued to be negotiated downward due to the elevated choice across market segments.

“Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits,” said TRREB President Elechia Barry-Sproule.

FULL REPORT HERE

VANCOUVER, BC
Easing home prices help lift sales in August

“Prices have eased around two per cent since the start of the year and are down about one per cent month over month in August, signaling that sellers have been willing to lower price expectations,” Lis said. “As sellers’ and buyers’ expectations have become more aligned, transaction volume has picked up. Newly listed properties remain in line with their ten-year seasonal average however, which when paired with increasing sales activity, is likely to diminish the available inventory. This also means the window of plentiful opportunity for buyers may soon begin closing if these trends continue.”

The benchmark price for a detached home is $1,950,300. This represents a 4.8 per cent decrease from August 2024 and a 1.2 per cent decrease compared to July 2025.
The benchmark price of an apartment home is $734,400. This represents a 4.4 per cent decrease from August 2024 and a 1.3 per cent decrease compared to July 2025.
The benchmark price of a townhouse is $1,079,600. This represents a 3.5 per cent decrease from August 2024 and a 1.8 per cent decrease compared to July 2025.

FULL REPORT HERE

Congratulations to my seller client! and also congratulations to the buyer of this incredible property! Sophie Gardner Team did a great job at representing the buyer. 

1416 Manzanita Rd, Cortes Island is now under contract! 

The Wolf Bluff Castle on Cortes Island is selling for $440,000 and comes with a house and workshop

A five-storey castle on Cortes Island, complete with a dungeon, medieval-style dining hall and three turrets, is on the market and priced lower than a two-storey house in Campbell River.

Cortes Island resident Karl Triller began building the Wolf Bluff Castle on Cortes Bay in 1990. He wanted to create a place that evoked memories of his childhood, said realtor Roman Krzaczek, who is running the sale. Today, it still stands but needs a buyer who is looking for a fixer-upper.  

After Triller's recent passing, his son put the unfinished castle up for sale last year. Krzaczek said he was drawn to the listing because of the story and person behind it. 

"Karl grew up in Hungary in a poor family with seven siblings," said Krzaczek. He noted that Triller must have been an interesting person, as locals have told stories about him wearing a crown and calling himself king of the castle. He also welcomed the community over for celebrations over the decades. 

The castle needs work, which Krzaczek said is likely why it's not selling as quickly as one might expect. Despite this, the exterior walls and concrete are intact, revealing that it was solidly built. 

"It needs a builder to go in there and assess whether the interior can be salvaged or all the wood needs to be gutted," he said.  

The castle at 1416 Manzanita Rd. is priced at $440,000, but a B.C. assessment says the property is worth $758,000. Aside from the castle, the property comes with a one-storey house with an unfinished basement and workshop.

Krzaczek said he's hoping whoever buys the property will see it as a fixer-upper and keep it as part of the community. 

"It's beautiful," he said. "It's got character. I've met many people who live on Cortes and Quadra who, as teenagers, used to go there for birthday parties and stuff. It's part of the community."

https://www.campbellrivermirror.com/local-news/photos-castle-on-cortes-island-selling-for-less-than-a-campbell-river-house-8166017

August 11, 2025

A steal of a castle has gone up for sale on Cortes Island, British Columbia, but the owners will need to be more suited to wearing a hard hat than a crown. At just $440,000, Wolf Bluff Castle has five storeys with eight bedrooms, a dining hall and even a dungeon, but it's only half finished.

https://www.cp24.com/news/canada/2025/08/10/castle-on-bc-island-listed-for-sale-dungeon-included/

Sitting on two acres on a B.C. island, a five-storey castle with a dining hall, eight bedrooms, three turrets and a dungeon is on the market for $440,000.

But there’s a catch: it’s only half-finished.

Instead of a turnkey palace, the person who buys the Cortes Island property will be purchasing a project.

Realtor Roman Krzaczek says one of the reasons he got the listing is because he sees the property’s potential and he hopes would-be buyers will feel the same.

“I personally, I get excited about stuff like this. It’s so unique, it’s so different and quirky and it’s beautiful,” he told CTV News.

The architect of Wolf Bluff Castle was the late Karl Triller, who lived in a relatively modest home on the property while endeavouring to bring his vision to life.

“Unfortunately, he didn’t finish but hopefully somebody will appreciate it enough to finish it,” Krzaczek said, adding that Triller’s family is unable to complete the project, but hopes to find buyers who won’t tear the partially crumbling castle down.

Krzaczek never met Triller, but says he’s heard stories from locals about how the self-described “King of Cortes” would put on a crown and welcome people to the property for food and celebrations in the 1990s and 2000s.

“He was a big character with a big heart,” Krzaczek said.

The list price includes the castle, what was once Karl’s home, the land, and a workshop. It has water and power, but no septic system. The property is located about a 15-minute walk form the boat launch at Cortes Bay.

This is the second time Krzaczek has listed the property, and while it’s attracted more interest this time around, that interest hasn’t yet translated into a firm offer.

Cortes Island has a year-round population of roughly 1,000 people and is a popular destination for summer vacationers.

https://cheknews.ca/unfinished-castle-on-cortes-island-b-c-selling-for-100k-less-than-average-victoria-condo-1269494/