INFOGRAPHICS: November 2021 VIREB Vancouver Island Market Reports
HOW LOW CAN HOUSING INVENTORY GO?
Active listings in the Vancouver Island Real Estate Board (VIREB) area continue to drop, with demand far outpacing supply. Inventory has hit consecutive historical lows for several months running.
Active listings of single-family homes were 44 per cent lower last month than in November 2020 and dropped by 24 per cent from the previous month. VIREB’s inventory of condo apartments declined by 69 per cent from one year ago and was 23 per cent lower than in October. Row/townhouse inventory dropped by 55 per cent year over year and was 47 per cent lower than the previous month.
By category, 353 single-family homes sold on the MLS® System in November, a 16 per cent decrease from one year ago. There were 110 condo apartment sales last month compared to 107 one year ago and 122 the previous month. In the row/townhouse category, 98 units sold compared to 90 the previous November and 88 in October 2021.
The following data is a comparison between November 2020 and November 2021 numbers, and is current as of December 2021. Click here to check out last month’s infographics.