January 2024

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December 2023 Market Update

December ended on a subdued note for the real estate market, as evidenced by the Vancouver Island Real Estate Board (VIREB) reporting only 7,297 property transactions in 2023. This figure marks a decrease from the 11,045 sales in 2021 and a slight drop from the 7,810 transactions in 2022. The primary factor for this downturn is attributed to high interest rates, which deterred many prospective buyers...

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