Rob & Steph

Our March statistics show that inventory is slowly inching up but is still far from ideal. Active listings of single-family homes rose by nine per cent from Mar...ch 2021 but increased by 60 per cent from February. VIREB’s inventory of condo apartments in March dipped by 13 per from one year ago but increased by 28 per cent from one month ago. Row/townhouse inventory dropped by 15 per cent year over year but was up by 50 per cent from February. By category, 528 single-family homes sold on the MLS System in March, a six per cent decrease from one year ago and up by 49 per cent from February. There were 121 condo apartment sales last month compared to 132 one year ago, a decline of eight per cent year over year but a nine per cent increase from the previous month. In the row/townhouse category, 106 units sold in March compared to 124 one year ago, a 15 per cent decrease. However, sales did rise by 18 per cent from February. Prices continue to rise throughout the VIREB area, as shown below. Single-family - $851,700 (up 35% from March 2021) Apartment - $431,100 (up 30% from March 2021) Townhouse - $642,200 (up 31% from March 2021) For zone-specific prices and additional information, please refer to our March stats package at https://bit.ly/3wU3rPW. And stay tuned for our market-update video, which we'll upload shortly! #GetREALTOR #HousingAffordability #HousingMarket #HowREALTORSHelp #REALTOR #REALTORS #RealEstate #VancouverIsland

Did you know the population on Vancouver Island grew by over 89,000 people from 2014 to 2021. To put this into perspective, population growth on Vancouver Islan...d resulted in the addition of enough people to populate a city the size of Nanaimo. As well, the percentage over the age of 50 declined from 59 percent to 35 percent. What are your thoughts on these changing demographics VI TRENDLINES is a six-part companion series to the State of the Island Economic Report published annually since 2015 by The Vancouver Island Economic Alliance. Information prepared by MNP. Funded in part by Island Coastal Economic Trust. For more information see our latest newsletter: http://ow.ly/zWhX50IxCus. . #VancouverIsland #VIEA #VIEA2022 #VIEconomy #VIAlliance

https://vancouverisland.ctvnews.ca/b-c-finance-minister-to-

https://www.ctvnews.ca//bank-of-canada-raising-key-interes

February brought additional inventory to the table in the VIREB area, but listings are still far below where they need to be to satisfy buyer demand. Active lis...tings of single-family homes were 12 per cent lower last month than the previous February but rose by 34 per cent from January 2022. VIREB’s inventory of condo apartments in February declined by 31 per cent from one year ago but increased by seven per cent from the previous month. Row/townhouse inventory dropped by 27 per cent year over year but was the same as in January (66). By category, 360 single-family homes sold on the MLS System in February, a 13 per cent decrease from one year ago and up by 64 per cent from January. There were 112 condo apartment sales last month compared to 128 one year ago, a decline of 13 per cent year over year but a 23 per cent increase from the previous month. In the row/townhouse category, 91 units sold in February compared to 79 one year ago and 61 in January, an increase of 15 and 49 per cent, respectively. Prices continue to rise throughout the VIREB area, as shown below. Single-family - $822,500 (up 36% from February 2021) Apartment - $415,000 (up 28% from February 2021) Townhouse - $635,000 (up 34% from February 2021) For zone-specific prices and additional information, please refer to our February stats package at https://bit.ly/3K7CITs. And stay tuned for our market-update video, which we'll upload shortly! #HousingAffordability #HousingMarket #HowREALTORSHelp #REALTOR #REALTORS #RealEstate #VancouverIsland

Looking for a quick update on our January 2022 housing market? Our latest video is just what the (house) doctor ordered! #GetREALTOR #HousingMarket #HowREALTORSHelp #ProudREALTORS #REALTOR #REALTORS #RealEstate

Our January statistics show that while the new year brought a small inventory bump, demand is still far outpacing supply in the VIREB area. Active listings of s...ingle-family homes were 39 per cent lower last month than the previous January but rose by 15 per cent from December 2021. VIREB’s inventory of condo apartments declined by 49 per cent from one year ago but increased by 61 per cent from the previous month. Row/townhouse inventory dropped by 31 per cent year over year but was 18 per cent higher than in December. By category, 220 single-family homes sold on the MLS System in January, a 22 per cent decrease from one year ago. There were 91 condo apartment sales last month compared to 87 one year ago and 75 the previous month. In the row/townhouse category, 61 units sold in January compared to 77 one year ago and 50 in December 2021. Prices continue to rise throughout the VIREB area, as shown below. Single-family - $804,500 (up 36% from January 2021) Apartment - $409,100 (up 29% from January 2021) Townhouse - $620,400 (up 35% from January 2021) For zone-specific prices and additional information, please refer to our January stats package at https://bit.ly/3GxIz2h. And stay tuned for our market-update video, which we'll upload shortly.

On behalf of flood victims in British Columbia, VIREB is donating $10,000 to the Canadian Red Cross' British Columbia Floods and Extreme Weather Appeal. If you'...d like to help, until December 26, the Government of Canada and the Government of British Columbia will match all eligible donations. To donate, visit https://bit.ly/3kVLFVL. REALTORS Care | Canadian Red Cross #BCFloods #FloodRelief #HowREALTORSHelp #REALTORSCare

November Home Sales Lead to New Annual Record in BC: #BCREA reports that a total 9,159 residential unit sales were recorded by the MLS in November 2021, result...ing in total annual sales surpassing the previous record, and a decrease of 3.4 per cent from November 2020. Read the full report here: https://bit.ly/3pSePXq

Our November statistics are in, prompting the question: How low can inventory go? Active listings of single-family homes were 44 per cent lower last month than ...in November 2020 and dropped by 24 per cent from the previous month. In fact, our inventory of single-family homes has hit consecutive historical lows for several months running. VIREB’s inventory of condo apartments declined by 69 per cent from one year ago and was 23 per cent lower than in October. Row/townhouse inventory dropped by 55 per cent year over year and was 47 per cent lower than the previous month. By category, 353 single-family homes sold on the MLS System in November, a 16 per cent decrease from one year ago. There were 110 condo apartment sales last month compared to 107 one year ago and 122 the previous month. In the row/townhouse category, 98 units sold compared to 90 one year ago and 88 in October 2021. Naturally, the tight housing market is affecting prices in the VIREB area. Single-family - $769,700 (up 33% from November 2020) Apartment - $401,100 (up 29% from November 2020) Townhouse - $594,400 (up 35% from November 2020) For zone-specific prices and additional information, please refer to our November stats package at https://bit.ly/3phDrIH. #GetREALTOR #HousingAffordability #HowREALTORSHelp #ProudREALTORS #REALTOR #REALTORS #RealEstate

Whether you're a first-time buyer or a seasoned pro, shopping for a mortgage can be daunting. But with these terrific tips provided by REALTOR.ca, you'll be mov...ing into that home in no time. Check them out at https://bit.ly/3DtfzIa. #GetREALTOR #HowREALTORSHelp #ProudREALTOR #ProudREALTORS #RealEstate #REALTOR #REALTORS

The predominant theme running through VIREB's housing market is one of "different month, same issues." By category, 398 single-family homes sold in October, a 2...3 three per cent decrease from one year ago. There were 122 condo apartment sales last month, a six per cent decrease from October 2020. In the row/townhouse category, 88 units sold compared to 98 the previous October. However, there is little doubt that a dearth of active listings is causing the sales decline. Buyers continue to face frustrating hurdles caused by historically low inventory, with little relief in sight. Active listings of single-family homes were 46 per cent lower last month than in October 2020 and dropped by 18 per cent from September. VIREB’s inventory of condo apartments declined by 63 per cent from one year ago and was 26 per cent lower than in September. However, there was some positive news for townhouse buyers. While active listings in this category dropped by 39 per cent year over year, inventory increased by 13 per cent from September. Of course, due to demand, it's no surprise that benchmark prices continue to rise throughout the VIREB area, as noted below. Single-family - $757,300 (up 31% from October 2020) Apartment - $397,200 (up 30% from October 2020) Townhouse - $584,700 (up 34% from October 2020) For zone-specific prices and additional information, please refer to our October stats package at https://bit.ly/2ZFfB0s. #GetREALTOR #HousingAffordability #HowREALTORSHelp #ProudREALTORS #REALTOR #REALTORS #RealEstate #VancouverIsland #VIREB