Real Estate Updates

The Latest From The Valley & The Island

July 2023 Market Update

Last month, there were 414 sales of single-family homes in the VIREB area, a 41 per cent increase from one year ago (294) and down by two per cent from June 2023 (424).

Sales of condo apartments in July came in at 98, increasing by 31 per cent year over year but down 12 per cent from the previous month. In the row/townhouse category, 86 units changed hands in July, up 69 per cent from one year ago and down 15 per cent from June.

Active listings of single-family homes were 1,092 in July, down from 1,387 one year ago. VIREB’s inventory of condo apartments was 312 last month, a decrease from the 336 available listings in July 2022. There were 262 row/townhouses for sale last month compared to 267 one year ago.

Benchmark prices dropped from last July, but consistent with recent trends, there were modest month-over-month increases in most zones.

  • Single-family – $770,000 (down 5% y-o-y)
  • Apartment – $399,600 (down 3% y-o-y)
  • Townhouse – $561,500 (down 3% y-o-y)

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