Vancouver Island Real Estate Board

Residential Activity

Residential sales activity in the Vancouver Island area slowed in the fourth quarter of 2022 compared to the fourth quarter of 2021. Residential property sales numbered 1,308 units in the fourth quarter of 2022, down significantly compared to the same quarter in 2021. Sales slowed 28.3% for single detached homes, were down 47.5% for townhouse and row units, and were down 57.3% for apartment units compared to a year earlier in the fourth quarter. Annually, residential property sales numbered 7,687 units in all of 2022. This was up 5.1% compared to the 7,312 units recorded in 2021.

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