Real Estate

Last month, there were 737 unit sales in the VIREB area, a seven percent decrease from the previous year. Active listings totaled 4,559 board-wide, marking a 30 percent increase from July 2024. With an absorption rate of 16 percent and roughly six months of inventory, the VIREB housing market is balanced, slightly favoring buyers. Sales by Category In July, 363 single-family homes (excluding acreage...

The VIREB housing market is experiencing an unusual summer, with the anticipated boost from the recent interest rate cut not yet evident. Both buyers and sellers appear to be waiting for clearer signals before making a move. Although REALTORS® are actively conducting open houses and showings, the market is notably slower than usual for this time of year. Well-priced properties are still attracting...

Despite an uptick in sales in May, the VIREB housing market has not reached its typical pre-summer levels. However, there is positive news: VIREB's inventory of single-family homes surged by 46% in May, and active listings of all property types increased by 33% across the board. The VIREB market is now in balanced territory, which is advantageous for both buyers and sellers. Sales by Category: •...

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...

In the previous month, the Vancouver Island Real Estate Board (VIREB) area witnessed a notable surge in housing sales. Single-family homes saw a total of 254 transactions, marking a 15% increase compared to the same period last year and a substantial 67% rise from January 2023. Condo apartment sales also experienced a significant uptick, reaching 68 units sold in February. This represents an 11%...

In the VIREB area, 152 single-family homes were sold last month, marking a six percent decrease compared to the previous year but a slight increase from December 2023. January saw 47 condo apartments sold, reflecting a twelve percent rise from the same period last year and a twenty-one percent increase from December. In the row/townhouse category, 40 units were sold last month, showing a fourteen...

December ended on a subdued note for the real estate market, as evidenced by the Vancouver Island Real Estate Board (VIREB) reporting only 7,297 property transactions in 2023. This figure marks a decrease from the 11,045 sales in 2021 and a slight drop from the 7,810 transactions in 2022. The primary factor for this downturn is attributed to high interest rates, which deterred many prospective buyers...

In the VIREB area last month, sales of single-family homes totaled 236, marking a decrease of 2% from the previous November and a 3% drop from October. Condo apartment sales in November reached 56, reflecting a 4% increase from the same month last year but a 7% decline from October. Sales in the row/townhouse sector saw 50 units sold, up 9% compared to the same month last year, yet showing a 14%...

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...

Home prices in key markets softened recently, after a strong second quarter, but year-over-year prices are still up. Despite slow activity, Canada's housing market remains stable, in stark contrast to the steep declines of 2022. Check out the Royal LePage report highlights, and for the full update, click through to their blog post. Aggregate home prices in greater regions of Toronto and Vancouver posted...