INFOGRAPHICS: July 2021 VIREB Vancouver Island Market Reports
Slight Cooling Likely Due to Historically Low Inventory
Last month, the Vancouver Island Real Estate Board (VIREB) saw sales of 450 single-family detached properties compared to 531 in June, a decrease of 15%. In the condo apartment category, sales dropped by 7% from June 2021. However, row/townhouse sales rose by 29% from the previous month.
Inventory remains extremely tight in the VIREB area, tracking at a 21-year historical low. Active listings of single-family homes and row/townhouses dropped by 51% from July 2020. In the condo apartment category, inventory decreased by 60% from one year ago. Based on the demand VIREB is seeing, there is no doubt that sales would be higher if there were sufficient inventory.
The following data is a comparison between July 2020 and July 2021 numbers, and is current as of August 2021. Click here to check out last month’s infographics.
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