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)