Real Estate Updates

The Latest From The Valley & The Island

October 2023 Market Update

In the previous month, the VIREB area saw a total of 244 single-family home sales, which remained consistent with the sales figure from the same period last year.

For condo apartments, there were 60 sales in October, marking a substantial 43 percent increase in year-over-year comparisons. In the row/townhouse category, 58 units were sold last month, reflecting a 14 percent increase from one year ago and a simultaneous 18 percent decrease from the preceding month.

As for available inventory, the VIREB area had 1,157 single-family homes for sale last month, which is a notable decrease from the 14,360 homes listed in October 2022. In the condo apartment category, there were 307 active listings in October 2023, down slightly from the 314 listings recorded one year ago. In the row/townhouse category, there were 265 active listings last month, showing a decrease from the 296 listings available one year ago.

The benchmark price for single-family homes saw a slight decrease compared to the previous September, while both apartment and townhouse benchmark prices experienced slight increases during the same period.

  • Single-family – $767,600 (up 3% y-o-y)
  • Apartment – $394,300 (up 2% y-o-y)
  • Townhouse – $557,400 (up 3% y-o-y)

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