Around Town: Buyer demand continues to outpace supply in VIREB area
In April 2016, the benchmark price of a single-family home in the VIREB (Vancouver Island Real Estate Board) area was $356,700, up 8.36 per cent from one year ago. Benchmark pricing tracks the value of a typical home in the reported area. The benchmark price of townhouses and apartments also increased in nearly every market.
This infographic shows real estate activity, including benchmark prices and days listed for apartments, townhouses, and single family homes in the Vancouver Island Real Estate Board service area.
The average MLS® price of a single-family home in April was $396,165, a nine per cent increase from April 2015. The April 2016 benchmark price of a single-family home in the Campbell River area was $284,600, a 4.09 per cent increase over 2015. In the Comox Valley, the benchmark price was $357,700, up 10.34 per cent from 2015. Duncan reported a benchmark price of $313,400, an increase of 6.65 per cent over the same month in 2015. Nanaimo’s benchmark price rose 9.08 per cent to $379,300 while the Parksville-Qualicum area saw its benchmark price rise by 10.69 per cent to $399,500. The price for a benchmark home in Port Alberni was $191,600, an increase of 1.42 per cent over April 2015.
For more information, go to: www.vireb.com.
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