Market Stats

Vancouver Island Real Estate Board

In April 2024, the Vancouver Island Real Estate Board (VIREB) noted a total of 741 unit sales across all property types, showcasing a dynamic market landscape. Single-family home sales remained robust, with 376 transactions marking a slight decrease of two percent compared to the previous year but a notable 29 percent increase from March. Condo apartment sales, totaling 75 units, demonstrated resilience, albeit with a marginal one percent year-over-year decline and an 11 percent dip from March figures. Similarly, row/townhouse sales, totaling 83 units, saw a modest two percent decrease from the previous year but a noteworthy one percent uptick from March statistics.

VIREB’s Chief Executive Officer, Jason Yochim, highlighted the emergence of the spring market, traditionally stirring in February. Yochim emphasized the positive impact of increased listings, affirming that the current market, long plagued by low inventory, benefits both buyers and sellers. With more options available, buyers enjoy a wider selection, while sellers can confidently navigate market fluctuations with the support of ample opportunities for their property’s sale. The steady rise in benchmark prices across various regions further underscores the vitality and resilience of Vancouver Island’s real estate market, reflecting sustained growth and opportunity for both buyers and sellers alike.