INFOGRAPHICS: September 2023 VIREB Vancouver Island Market Reports
QUIET SEPTEMBER MARKET FAVOURS BUYERS
Last month, there were 266 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, an 11 per cent increase from one year ago (239) and down by
18 per cent from August 2023 (324). Sales of condo apartments in September came in at 85, increasing by 63 per cent year over year and the same number as in August. In the row/townhouse category, 71 units changed hands last month, up 48 per cent from one year ago and down eight per cent from August.
Active listings of single-family homes were 1,173 in September, down from 1,417 one year ago. VIREB’s inventory of condo apartments was 305 last month, down from 332 listings in September 2022. There were 239 row/townhouses for sale last month compared to 295 one year ago.
“September looked like a relatively typical fall market but was somewhat slower than expected, so higher interest rates could be catching up with us,” says Kelly O’Dwyer, 2023 Chair. “Potential buyers seem to be holding out for more favourable rates and conditions.”
The following data is a comparison between September 2023 and September 2022 numbers, and is current as of October 2023. Click here to check out last month’s infographics.