August 2023 Market Update
Last month, there were 324 sales of single-family homes in the VIREB area, a seven per cent increase from one year ago (304) and down by 21 per cent from July 2023 (414).
Sales of condo apartments in August came in at 85, increasing by 29 per cent year over year but down 13 per cent from the previous month. In the row/townhouse category, 77 units changed hands last month, up 51 per cent from one year ago and down 10 per cent from July.
Active listings of single-family homes were 1,072 in August, down from 1,368 one year ago. VIREB’s inventory of condo apartments was 308 last month, down from 332 listings in August 2022. There were 254 row/townhouses for sale last month compared to 280 one year ago.
Benchmark prices dropped slightly from last August, as noted below.
- Single-family – $770,500 (down 2% y-o-y)
- Apartment – $397,900 (down 1% y-o-y)
- Townhouse – $560,400 (down $100 y-o-y)
