Sales volumes in the Vancouver Island Real Estate market fell in both the single-family home and condo categories, primarily due to the lack of available inventory. 450 single-family homes sold in July 2021, 15% less than the previous month and Condos dropped 7%. Townhomes were the only segment that increased from June with 29% units sold..
With a 51% drop in inventory for the single-family and townhome category, July 2021 was reported at a 21-year low for the number of available listings. Condos fared worse year over year coming in at a 60% decrease.
While inventory constrained the sales numbers Vancouver Island-wide, The Neal Estate Team outperformed the market again and increased the number of closed deals by 21.7% in July compared to last year.
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