Real Estate Updates

The Latest From The Valley & The Island

March 2024 Market Update

In March 2024, VIREB’s housing market experienced a more tranquil pace for the spring season, with 655 unit sales recorded board-wide across all property types.

Sales By Category

The single-family category (excluding acreage and waterfront properties) saw 291 homes sold, marking a 22% decrease from the previous year but a 15% increase from February 2024. Condo apartment sales for the same period reached 84 units, showing a 27% year-over-year increase and a 24% rise from February 2024. In the row/townhouse category, 82 units were sold in March, indicating a 9% increase from the previous year and a notable 39% surge from February.

Active Listings

Last month, there were 1,084 active listings for single-family homes, a decrease from 963 the previous year. VIREB’s inventory of condo apartments stood at 324 in March 2024, up from 290 one year ago. The number of row/townhouses for sale last month was 333, compared to 253 the previous year.

Benchmark Prices

March benchmark prices were as follows.

  • Single-family – $765,600 (up 5% y-o-y)
  • Apartment – $395,000 (up 2% y-o-y)
  • Townhouse – $545,200 (up 1% y-o-y)

More To Read

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September 2024 Market Update

In September 2024, the MLS® System recorded 637 unit sales and 4,465 active listings across all property types board-wide, representing increases of 16% and 24%,

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August 2024 Market Update

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

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