INFOGRAPHICS: August 2024 VIREB Vancouver Island Market Reports

FAVOURABLE CONDITIONS TRENDING TOWARDS BUYERS’ MARKET

The Vancouver Island Real Estate Board (VIREB) recorded 662 unit sales board-wide and 4,520 active listings (all property types) on the MLS® System in August 2024. In the single-family category (excluding acreage and waterfront), 333 homes sold in August, up three per cent from one year ago and down eight per cent from July. Sales of condo apartments last month came in at 70, decreasing by 18 per cent year over year and 20 per cent from July. In the row/townhouse category, 69 units
changed hands in August, down eight per cent from one year ago and 30 per cent from July.

Active listings of single-family homes were 1,564 in August, up from the 1,072 posted one year ago. VIREB’s inventory of condo apartments was 437 last month, up from 308 in August 2023. There were 364 row/townhouses for sale last month compared to 254 the previous year.

VIREB CEO Jason Yochim notes that VIREB’s housing market was flat during spring and summer, but REALTORS® are optimistic about the fall market.

Read the full report on VIREB website!

The following data is a comparison between August 2024 and August 2023 numbers, and is current as of September 2024. Click here to check out last month’s infographics.

You can also view all our VIREB infographics by clicking here.