Vancouver Island Market Report Infographics

Monday, November 16, 2020 11:57:42 AM UTC
INFOGRAPHICS: October 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: October 2020 VIREB Vancouver Island Market Reports

High Demand Continues Despite Pandemic

The Vancouver Island Real Estate Board (VIREB) recorded 1,066 unit sales (all categories) last month compared to 721 in October 2019.

Breaking those numbers down, 524 single-family detached properties (excluding acreage and waterfront) sold in October compared to 342 the previous year, a 53% increase but a decrease of 18% from September. Sales of condo apartments rose by 48% year over year and six% month over month. Row/townhouse sales increased by 51% from October 2019 but dipped by 10% from the previous month.

Read the full report on the VIREB website.

 

 


 

The following data is a comparison between October 2019 and October 2020 numbers, and is current as of November 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – October 2020 VIREB Market Report

 

 

 

 

 

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INFOGRAPHICS: September 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: September 2020 VIREB Vancouver Island Market Reports

Robust Housing Market Being Fuelled By Many Factors

VIREB recorded 1,287 unit sales (all categories) last month compared to 692 in September 2019, a healthy showing amid the economic downturn caused by a global pandemic.

Breaking those numbers down, 643 single-family detached properties (excluding acreage and waterfront) sold in September compared to 324 the previous year. Sales of condo apartments rose by 46% year over year while row/townhouse sales increased by 28%.

Read the full report on the VIREB website!

 

 


 

The following data is a comparison between September 2019 and September 2020 numbers, and is current as of October 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – September 2020 VIREB Market Report

 

 

 

 

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INFOGRAPHICS: August 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: August 2020 VIREB Vancouver Island Market Reports

Strong Post-COVID Recovery Continues

The Vancouver Island Real Estate Board (VIREB) recorded 1,101 unit sales (all categories) last month, a 39% increase from August 2019.

A total of 547 single-family detached properties (excluding acreage and waterfront) sold in August, a year-over-year increase of 35%. Sales of condo apartments rose by 43% year over year while row/townhouse sales increased by 19%.

Read the full report on the VIREB website!

 

 


 

The following data is a comparison between August 2019 and August 2020 numbers, and is current as of September 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – August 2020 VIREB Market Report

 

 

 

 

 

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INFOGRAPHICS: July 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: July 2020 VIREB Vancouver Island Market Reports

VIREB’s housing market continues to recover from the COVID-19 downturn seen in April and part of May.

A total of 892 units sold in July 2020, down 4% from the 931 sales posted in July 2019. Breaking down those sales by category, 574 single-family detached properties sold on the MLS® System last month compared to 573 in June 2020 and 554 in July 2019. Sales of condo apartments dipped by 14% year over year while row/townhouse sales dropped by 16%.

The benchmark price of a single-family home board-wide was $545,700 in July, an increase of 6% from the previous year and 2% higher than in June. In the apartment category, the year-over-year benchmark price rose by 4%, hitting $312,800 and up marginally from June. The benchmark price of a townhouse in July rose by 4% year over year, climbing to $425,800 but down slightly from June.

Read the full report on the VIREB website!

 

 


 

The following data is a comparison between July 2019 and July 2020 numbers, and is current as of August 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – July 2020 VIREB Market Report

 

 

(Image source: VIREB Twitter)

 

 

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INFOGRAPHICS: June 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: June 2020 VIREB Vancouver Island Market Reports

Housing Market Rebounds in June

The COVID-19 effect on VIREB’s housing market seemingly wore off in June, with sales rebounding significantly from May and posting year-over-year increases in most markets.

Last month, 479 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 246 in May 2020 and 406 one year ago. Sales of apartments increased by 3% year over year but were 59% higher than in May. Townhouse sales rose by 3% year over year and were up by 118% from May 2020.

Read the full report on the VIREB website!

 

 


 

The following data is a comparison between June 2019 and June 2020 numbers, and is current as of July 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – June 2020 VIREB Market Report

 

 

 

 

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INFOGRAPHICS: May 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: May 2020 VIREB Vancouver Island Market Reports

Higher May sales indicate a recovering market.

While COVID-19 had a significant impact on the Vancouver Island Real Estate Board’s (VIREB) housing market in April, the board’s May numbers indicate that the market may already be recovering.Last month, 246 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 189 in April 2020 and 456 in May 2019. Sales of apartments decreased by 56% year over year but were significantly higher than in April, with 44 properties changing hands compared to 17 the previous month. Townhouse sales dropped by 70% year over year but rose by 65% from April.

Read the full report on the VIREB website.

 

 


 

The following data is a comparison between May 2019 and May 2020 numbers, and is current as of June 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – May 2020 VIREB Market Report

 

 

 

 

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INFOGRAPHICS: April 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: April 2020 VIREB Vancouver Island Market Reports

The anticipated impact of COVID-19 on VIREB’s housing market became a reality in April, with sales of single-family homes dropping by 54% year over year.

Last month, 189 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 333 in March 2020 and 412 in April 2019. Apartment and townhouse sales decreased by 82 and 69%, respectively. Inventory of single-family homes last month dipped by nine% year over year (1,293 to 1,173). Active listings of apartments rose by 33% (303 to 403) year over year, while townhouse inventory dropped by 19% (197 to 160).

Read the full report over on the VIREB website.

 


 

The following data is a comparison between April 2019 and April 2020 numbers, and is current as of May 2020. Click here to check out last month’s infographics.

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

 

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

Download Printable Version – April 2020 VIREB Market Report

 

 

 

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INFOGRAPHICS: March 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: March 2020 VIREB Vancouver Island Market Reports

We hope everyone is healthy and safe during this challenging period. For now, it’s time for our monthly market updates for areas covered by the Vancouver Island Real Estate Board (VIREB)!

As per VIREB’s latest market update, the Vancouver Island Real Estate Board (VIREB) reports that the virus had little impact on March sales.

Last month, 333 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 259 in February 2020 and 308 in March 2019. Apartment sales in March did drop by 44% year over year, but there was a 40% increase in townhouse sales from one year ago.

Inventory of single-family homes last month was slightly higher than one year ago (1,174 to 1,181). Active listings of apartments rose by 41% (284 to 400) year over year, while townhouse inventory dropped by 18% (181 to 147).

The benchmark price of a single-family home board-wide was $521,400 in March, a 4% increase from one year ago and marginally higher than in February. (Benchmark pricing tracks the value of a typical home in the reported area.) In the apartment category, the year-over-year benchmark price rose by 7%, hitting $314,700, which is around 1% higher than the previous month. The benchmark price of a townhouse in March rose by 4% year over year and was 2% higher than in February, climbing to $417,900.

Regionally, the benchmark price of a single-family home in the Campbell River area last month was $441,300, an increase of 5% over last year. In the Comox Valley, the benchmark price reached $516,800, up by 2% from one year ago. Duncan reported a benchmark price of $478,700, a 2% increase from March 2019. Nanaimo’s benchmark price rose by 2% to $564,500 in March, while the Parksville-Qualicum area saw its benchmark price increase by 4% to $590,700. The cost of a benchmark single-family home in Port Alberni reached $328,300 in March, a 12% increase from one year ago.

Although it is certainly not business as usual, real estate has been declared an essential service by the provincial government as long as licensees comply with health and safety guidelines, which VIREB members are doing.

As per 2019 president Kevin Reid,

“The reality is that there are always clients who, for various reasons, must buy or sell now, and REALTORS® are uniquely poised to help those individuals do so safely. The real estate industry’s embrace of technology, such as virtual tours and electronic document signing, makes it possible to conduct a large part of the real estate transaction without face-to-face interaction.”

 

 


 

The following data is a comparison between March 2019 and March 2020 numbers, and is current as of April 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – March 2020 VIREB Market Report

 

 

(Image Source: VIREB Twitter)

 

 

 

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INFOGRAPHICS: February 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: February 2020 VIREB Vancouver Island Market Reports

Spring is almost upon us, and it’s time for our monthly market updates for areas covered by the Vancouver Island Real Estate Board (VIREB)!

As noted in their latest media release, February has seen higher sales, which can be taken as a positive sign.

Sales of single-family homes in the VIREB area last month rose by 15% year over year and were 49% higher than in January.

Last month, 260 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 174 in January and 227 one year ago. Apartment sales in February dropped by 19% year over year, while the number of townhouses sold decreased by 10% from one year ago.

Inventory of single-family homes last month rose by eight% from one year ago (992 to 1,069). Active listings of apartments rose by 37% (261 to 358) year over year, while townhouse inventory dropped by 11% (162 to 144).

The benchmark price of a single-family home board-wide was $516,500 in February, a 3% increase from one year ago and marginally higher than in January. (Benchmark pricing tracks the value of a typical home in the reported area.) In the apartment category, the year-over-year benchmark price rose by 5%, hitting $310,800, which is slightly higher than the previous month. The benchmark price of a townhouse in February rose by 2% year over year and was a bit higher than in January, climbing to $411,200.

Regionally, the benchmark price of a single-family home in the Campbell River area last month was $442,000, an increase of 4% over last year. In the Comox Valley, the benchmark price reached $517,600, up by 2% from one year ago. Duncan reported a benchmark price of $479,300, an increase of 4% from February 2019. Nanaimo’s benchmark price rose by 3% to $564,700 in February, while the Parksville-Qualicum area saw its benchmark price drop slightly to $578,300. The cost of a benchmark single-family home in Port Alberni reached $321,100 in February, a 4% increase from one year ago.

Due to VIREB’s broad geographic area, what is a trend in one market may not be in another. For example, REALTORS® in some zones are seeing multiple offers that benefit sellers, while other markets are more balanced. However, VIREB’s board-wide February sales are a positive sign that buyers are feeling optimistic as we head into spring, which is historically a busy time for real estate.

Another positive outcome is Minister of Finance Bill Morneau’s announcement regarding changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages. Guideline B-20, also known as the mortgage stress test, significantly reduced the purchasing power of some buyers and pushed others to the sidelines.

 

 


 

The following data is a comparison between February 2019 and February 2020 numbers, and is current as of March 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – February 2020 VIREB Market Report

 

 

(Image Source: VIREB Twitter)

 

 

 

More...
INFOGRAPHICS: January 2020 VIREB Vancouver Island Market Reports
INFOGRAPHICS: January 2020 VIREB Vancouver Island Market Reports

It’s time for our monthly market updates for areas covered by the Vancouver Island Real Estate Board (VIREB)!

As stated in VIREB’s latest market report, sales of single-family homes in January dropped by 16% from one year ago and were 26% lower than in December.

Last month, 174 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 235 in December and 208 one year ago. Apartment sales in January decreased by 3% year over year, while the number of townhouses sold dropped by 18% from one year ago.

Inventory of single-family homes last month rose slightly from one year ago (981 to 992) and increased by 6% from December 2019. Active listings of apartments rose by 3% (299 to 309) year over year, while townhouse inventory dropped by 24% (165 to 125). The benchmark price of a single-family home board-wide was $515,400 in January, a 4% increase from one year ago and marginally lower than in December.

In the apartment category, the year-over-year benchmark price rose by 5%, hitting $309,300, which is 2% higher than in December. The benchmark price of a townhouse last month rose by 3% year over year, climbing to $408,600, and was virtually the same as in December.

VIREB Past President Kaye Broens notes,

 

“The stress test is compressing more demand into our mid-and lower-priced property market. Lack of inventory in that price range is certainly curtailing some buyers from moving ahead with their home purchase. Unfortunately, without new construction, this gridlock may just be the new normal.”

 

 


 

The following data is a comparison between January 2019 and January 2020 numbers, and is current as of February 2020. Click here to check out last month’s infographics.

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

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! ๐Ÿ™‚ )

 

Download Printable Version – January 2020 VIREB Market Report

 

 

(Image Source: VIREB Twitter)

 

 

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