INFOGRAPHICS: July 2024 VIREB Vancouver Island Market Reports

WAITING IS THE THEME OF VIREB’S SUMMER HOUSING MARKET

The Vancouver Island Real Estate Board (VIREB) recorded 737 unit sales board-wide (all property types) on the MLS® System in June 2024. In the single-family category (excluding acreage and waterfront), 359 homes sold in June, down 15 per cent from one year ago and 12 per cent from May. Sales of condo apartments last month came in at 82, decreasing by 24 per cent year over year and by 11 per cent from May. In the row/townhouse category, 91 units changed hands in June, down eight per cent from one year ago and 16 per cent from May.

Active listings of single-family homes were 1,566 in June, an increase from the 1,105 posted one year ago. VIREB’s inventory of condo apartments was 440 last month, up from 319 in June 2023. There were 364 row/townhouses for sale last month compared to 274 the previous year.

Jason Yochim, VIREB Chief Executive Officer, says the market is behaving differently than during a typical summer, and the expected boost from the recent interest rate cut hasn’t materialized.

Read the full report on VIREB website!

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

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