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Full Version: VIREB - Historical Sales Data 1995 - 2012
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Here is the historical data for the Vancouver Island Real Estate Board (VIREB) for the years 1995 - 2012.

In the table below, there is a single asterisk (*) beside the years 2005 and 2006. Each annual report compares the sales data with the previous year and with the 2006 annual report the Board must have decided to change the way it tallied sales because the sales numbers for 2005 jumped significantly compared to the actual 2005 annual report. Then in 2007 the sales total for 2006 were significantly lower than the actual 2006 report indicating to me that the VIREB went back to its old tally method. Therefore, I decided to ignore the data for the year 2006 - I went with the sales data in the 2005 and 2007 annual reports for the years 2005 and 2006.

The double asterisk (**) denotes name changes - the Duncan area was renamed Cowichan Valley and West Coast was added to Port Alberni. This change occurred in 2007.

Beginning in 2003, the VIREB adds the following note to its Annual Sales data:

The Board Totals figures also include: Zone 7-North Island, Zone 9-Out of Board Properties, and Zone 10-Islands figures which are not listed separately in this table.

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Here is the VIREB Historical Average Sales Price for the same years.

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VIREB - Historic Sales by Type 2007 - 2012

Each month the Vancouver Island Real Estate Board releases two different types of reports. One in table form gives the current month sales of ‘Single Family Residential Unit’ for each of six zones. It compares those sales with the previous month and with sales results of the same month in the previous year. It also offers the same comparison for the ‘Average Sales Price’.

The second report available offers graphs and sales details by property ‘type’ (Lots, Single Family, Condo - Apt, Condo - Patio, and Condo - Townhouse). This report offers two notes about this data:
  1. Single Family property does NOT INCLUDE acreage with house, condominiums, duplex/triplex, mobile homes/on pad or single family strata.
  2. Lots do NOT INCLUDE acreage or waterfront acreage.
I have assumed that the note about ‘Single Family Property’ also applies to the short form monthly sales report but I can’t be sure since there is no disclaimer note with that report. As a result, I have found the VIREB sale reports overall to be quite confusing.

The VIREB also releases an annual report showing ‘sales by type’ and I was able to find those reports from 2007 to 2012 and created the table below. From 2009, it appears that the Board offers information on SFH Waterfront sales; although my source for these reports did not have that information for 2010.

With the information below, we now have a better idea of how unit sales and average prices for the various types of property have fared over the last five years in the VIREB region as a whole. It shows that the number of ‘unit sales’ have continued to slide since 2010 and the ‘average sale price’ appears to have reached its peak in 2010, began to slide for certain types in 2011 and dropped across all property types in 2012.

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I mentioned in a previous post that I have a particular interest in vacant lot sales and how Island sales compare to sales on the Sunshine Coast (i.e. do they follow the same pattern and, if so, for what reason). So, I have put together a table below giving the total number of lots listed, lots sold, and the average selling price for the years 2007 - 2012 and have created two graphs from this information.

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Finally, I stumbled across a Landcor Data Corporation report that offered information on ‘vacant land sales’ for Vancouver Island from 2001 - 2007. It should be noted that if this chart includes sales information from the northern island districts of Strathcona and Mount Waddington then sales on the mainland will be included in this data. That being said, the chart is valuable for illustrating the growth of vacant land sales and median sales prices that kicked off a decade long real estate boom on Vancouver Island in particular and the south west coastal area in general.

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