In August, the VIREB region recorded 662 property sales, reflecting a 2% drop compared to last year. The number of active listings across the board reached 4,520, marking a 30% rise from August 2023.
Sales Breakdown
- Single-family homes (excluding acreage and waterfront): 333 homes were sold in August, a 3% increase from last year, but an 8% decrease compared to July.
- Condo apartments: 70 units sold last month, which is an 18% decline year-over-year and a 20% drop from July.
- Row/townhouses: 69 units were sold, reflecting an 8% decrease from August 2023 and a 30% decline from the previous month.
Inventory Update
- Single-family homes: There were 1,564 active listings in August, up from 1,072 a year ago.
- Condo apartments: Active listings increased to 437 compared to 308 in August 2023.
- Row/townhouses: Inventory rose to 364 listings, up from 254 the previous year.
Benchmark Prices
August benchmark prices were as follows.
- Single-family – $785,400 (up 2% y-o-y)
- Apartment – $403,400 (down 1% y-o-y)
- Townhouse – $544,100 (down 1% y-o-y)
