Vancouver Island Real Estate Board says it feels like a spring market

📆 02/10/2024 08:52 p. m.
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Vancouver Island Real Estate Board says it feels like spring market conditions have arrived with higher sales in September and more inventory

The Vancouver Island Real Estate Board has released its numbers for September and it’s more of a buyers’ market than in past years.

“Inventory levels are the highest they’ve been in the past five years and we’re sitting at about 4,400 active listings. A year ago we were 25 percent lower than that so we do see inventory building because sales haven’t caught up with the increase in new listings coming into the marketplace,” said Jason Yochim, CEO of the Vancouver Island Real Estate Board.Yochim says sales prices have generally been steady but after a slower summer, it now feels more like a typical spring.

“We’re hearing from a lot of people right now that they’re just waiting to see which way both our local elections and the U.S. elections are going to go before they make their next move,” said John Cooper, the head of John Cooper & Associates with eXp Realty.

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Greater Vancouver Real Estate Market Sees Buyers And Sellers HesitatingZakiya has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.
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