MARCH HOUSING MARKET CALMER THAN EXPECTED Last month, the Vancouver Island Real Estate Board (VIREB) recorded 655 unit sales board-wide (all property types). In the single-family category (excluding acreage and waterfront), 291 homes sold in March, down 22 per cent from one year ago and up 15 per cent from February 2024. Sales of condo apartments last month came in at 84, increasing by Read more →
FEBRUARY SEES SIGNIFICANT SALES INCREASE Last month, 254 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, up 15 per cent from one year ago and 67 per cent from January 2024. Sales of condo apartments in February came in at 68, increasing by 11 per cent year over year and up 45 percent from the previous month. In the row/townhouse category, 59 units change Read more →
NORMAL JANUARY KICKS OFF 2024 WITH OPTIMISTIC OUTLOOK Last month, 152 single-family homes were sold in the Vancouver Island Real Estate Board (VIREB) area, down six percent from one year ago and up slightly from December 2023. Sales of condo apartments in January came in at 47, increasing by 12 percent year over year and up 21 percent from December. In the row/townhouse catego Read more →
Lacklustre December Closes Out 2023 The Vancouver Island Real Estate Board (VIREB) recorded 7,297 unit sales in 2023 compared to 11,045 in 2021 and 7,810 in 2022. High interest rates are primarily to blame for the weaker sales, as there was significant demand, but many buyers opted to wait for an anticipated 2024 rate cut. Last month, there were 151 sales of single-family homes in the Read more →
Housing Market Winding Down the Year End on a Slow Note Last month, there were 236 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, down two percent from last November and three percent from October. Sales of condo apartments in November came in at 56, increasing by four percent year over year and down seven percent from October. In the row/townhouse Read more →
INTEREST RATES TAKING A TOLL ON HOUSING MARKET Last month, there were 244 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, the same number as last October and down by eight percent from September 2023 (266). Sales of condo apartments in October came in at 60, increasing by 43 percent year over year and down 29 percent from September. In the row/townho Read more →
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 percent increase from one year ago (239) and down by 18 percent from August 2023 (324). Sales of condo apartments in September came in at 85, increasing by 63 percent year over year and the same number as in August. In the row/townho Read more →
Vancouver Island - Quiet Market Closes Out the Summer Last month, there were 324 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, a seven percent increase from one year ago (304) and down by 21 percent from July 2023 (414). Sales of condo apartments in August came in at 85, increasing by 29 percent year over year but down 13 percent from the previous Read more →
STEADY SALES MAKE FOR A BUSIER-THAN-USUAL JULY Last month, there were 414 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, a 41 percent increase from one year ago (294) and down by two percent from June 2023 (424). Sales of condo apartments in July came in at 98, increasing by 31 percent year over year but down 12 percent from the previous month. In t Read more →
BUSIER JUNE THAN EXPECTED DESPITE RATE HIKE Last month, there were 424 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, a five percent increase from one year ago (403) and up by 13 percent from May 2023 (488). Sales of condo apartments in June came in at 111, increasing by 39 percent year over year and 29 percent from the previous month. In the row/to Read more →
RETURN TO A MORE TRADITIONAL SPRING MARKET IS WELCOME Last month, there were 488 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, an eight percent increase from one year ago (450) and a 25 percent increase from April 2023 (391). Sales of condo apartments in May came in at 86, declining by seven percent year over year and increasing by 12 percent from Read more →
BUYERS TAKING A MEASURED APPROACH IN THE SPRING MARKET Last month, there were 391 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, a 22 percent decrease from one year ago (500) and a three percent increase from March 2023 (381). Sales of condo apartments in April came in at 77, declining by 31 percent year over year and increasing by 17 percent from t Read more →
Downsizing in retirement can be a great way to save money and enjoy a more comfortable life. Moving to a smaller home means you'll have less space to maintain and fewer rooms to clean, which can save you time and money. Plus, you'll likely spend less on housing, utilities, and other expenses, leaving you with more money to enjoy your retirement. For example, downsizing from a bi Read more →
Housing Market Brisker Than Expected in March Last month, there were 381 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, a 26 percent decrease from one year ago (515) and a 73 percent increase from February 2023 (220). Sales of condo apartments in March 2023 came in at 66, declining by 46 percent year over year and increasing by three percent from th Read more →
Here is the BC Real Estate Association Housing Market update for March. Read more →
A CALM START TO THE YEAR HERALDS A GREAT TIME TO BUY Cowichan Valley January Sales Stats (if you would like more sales details please email me) Last month, 165 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, a 24 percent decrease from one year ago and a drop of 18 percent from December. Sales of condo apartments in January 2023 came in at 42, Read more →
Roofing: Repair or Replace? Deciding whether to repair or replace roofing is largely an exercise in timing — you don’t want to reroof too soon and waste money, but you don’t want to wait too long either. Read Visit houselogic.com for more articles like this. © Copyright 2023 NATIONAL ASSOCIATION OF REALTORS® Read more →
Quiet December Closes Out the Year - Vancouver Island Real Estate Board Last month, 200 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, a 10% decrease from one year ago and a drop of 18% from November. Sales of condo apartments in December came in at 35, declining by 53% year over year and dropping by 36% from November. In the row/townhouse category, 2 Read more →
The newly implemented Home Buyers Rescission Period takes effect on January 3, 2023. Now is a good time to review this information to help consumers understand what happens in a real estate transaction in British Columbia. Read more →
Welcome everyone, I thought I would put a link to the information provided by the British Columbia Financial Services (BCFSA) on the upcoming changes to Real Estate in BC. These changes are to help buyers in multiple offer situations where they would have the opportunity to rescind their offers within a 3 business day period. There are consequences for buyers who make an offer and Read more →
Pemberton Holmes Ltd. Duncan
23 Queens Road
Duncan, British Columbia
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