Royal LePage’s June 2023 Market Update

Last month, there were 424 sales of single-family homes in the VIREB area, a five per cent increase from one year ago (403) and up by 13 per cent from May 2023 (488).

Sales of condo apartments in June came in at 111, increasing by 39 per cent year over year and 29 per cent from the previous month. In the row/townhouse category, 101 units changed hands in June, up 49 per cent from one year ago and seven per cent from May.

Active listings of single-family homes were 1,105 in June, down from 1,204 one year ago. VIREB’s inventory of condo apartments hit 319 last month, up from 295 listings in June 2022. There were 274 row/townhouses for sale last month compared to 222 one year ago.

Benchmark prices are down from last June, but modest month-over-month price increases were posted in most zones.

Single-family – $759,900 (down 8% y-o-y)
Apartment – $395,000 (down 6% y-o-y)
Townhouse – $558,600 (down 5% y-o-y)