02/02/2022
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 single-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. 🏡
