Vancouver Island Real Estate Board Statistics for July 2024
The Vancouver Island Real Estate Board (VIREB) recorded 737 unit sales board-wide and 4,559 active listings (all property types) on the MLS® System in July 2024. In the single-family category (excluding acreage and waterfront), 363 homes sold in July, down 11 per cent from one year ago and up one per cent from June. Sales of condo apartments last month came in at 87, decreasing by nine per cent year over year and up six per cent from June. In the row/townhouse category, 99 units changed hands in July, up 16 per cent from one year ago and nine per cent from June. Active listings of single-family homes were 1,596 in July, up from the 1,092 posted one year ago. VIREB’s inventory of condo apartments was 455 last month, up from 312 in July 2023. There were 342 row/townhouses for sale last month compared to 262 the previous year. With an absorption rate of 16 per cent and approximately six months of inventory, the VIREB housing market is in balanced territory and edging slightly towards a buyers’ market. Benchmark prices for July are provided below. • Single-family - $784,200 (up 2% y-o-y) • Apartment - $414,300 (up 1% y-o-y) • Townhouse - $540,800 (down 2% y-o-y) Our July 2024 Statistics Package is available at https://bit.ly/4caJYvd.
Vancouver Island Real Estate Board Statistics for June 2024
VIREB recorded 737 unit sales board-wide (all property types) in June 2024, down 14 per cent from one year ago. In the single-family category (excluding acreage and waterfront), 359 homes sold in June, down 15 per cent from one year ago and 12 per cent from May. Sales of condo apartments last month came in at 82, decreasing by 24 per cent year over year and by 11 per cent from May. In the row/townhouse category, 91 units changed hands in June, down eight per cent from one year ago and 16 per cent from May. Active listings of single-family homes were 1,566 in June, an increase from the 1,105 posted one year ago. VIREB’s inventory of condo apartments was 440 last month, up from 319 in June 2023. There were 364 row/townhouses for sale last month compared to 274 the previous year. Benchmark prices for June are provided below. • Single-family - $787,300 (up 3% y-o-y) • Apartment - $411,200 (up 1% y-o-y) • Townhouse - $542,400 (down 2% y-o-y) Our June 2024 Statistics Package is available at https://bit.ly/3zuQ8sD.
Vancouver Island Real Estate Board Statistics for May 2024
VIREB recorded 824 unit sales board-wide (all property types) in May 2024. In the single-family category (excluding acreage and waterfront), 409 homes sold in May, down 14 per cent from one year ago and up nine per cent from April. Sales of condo apartments last month came in at 92, increasing by 11 per cent year over year and up 23 per cent from April. In the row/townhouse category, 108 units changed hands in May, up 17 per cent from one year ago and 30 per cent from April. Active listings of single-family homes were 1,433 in May, an increase from the 979 posted one year ago. VIREB’s inventory of condo apartments was 398 last month, up from 318 in May 2023. There were 375 row/townhouses for sale last month compared to 252 the previous year. Benchmark prices for May are provided below. • Single-family - $781,100 (up 4% y-o-y) • Apartment - $413,000 (up 3% y-o-y) • Townhouse - $544,200 (up 1% y-o-y) Visit https://vireb.com/wp-content/uploads/2024/06/05-May-24-VIREB-Stats-Package.pdf for our May 2024 stats package. Article courtesy of the Vancouver Island Real Estate Board.
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