The NY Times has a slideshow of a house in Victoria (Fairfield). A renovated 1930s waterfront home with a modern kitchen and original Arts and Crafts details is on the market for 2,995,000 Canadian dollars ($2,978,000 US).
The next time anyone (*cough* my mother *cough*) tries to tell me housing is still afforable on the Island I'll point to this. When people in New York are interested in the real estate in your area, the market is offically out of reach to normal, sane people.
Shame, it was such a nice Island.