Around Town: Vancouver Island Real Estate Sales for 2014

January 15, 2015

Sales activity across Vancouver Island finished on a high note in December, capping off a year that saw consistent monthly gains. Overall, the housing market remains balanced, which continues to be good news for buyers and sellers.

The Vancouver Island Real Estate Board (VIREB) reports that 4,335 single-family homes sold in its area on the Multiple Listing Service® (MLS®) in 2014. This signifies a 10 per cent increase over the 3,940 sales recorded in 2013. The average sale price in 2014 was $345,108, up five per cent from 2013’s average sale price of $329,144. A total of 257 single-family homes sold in the VIREB coverage area in December 2014, a 22% increase over the 210 sales recorded in December 2013, and a 14% drop from last month. In December 2014, the benchmark price for a single-family home in the VIREB coverage area was $313,800, up 1.94% from 2013. The average price of a single-family home was $355,600 compared to $314,367 in December 2013.

The benchmark price of a single-family home in the Campbell River area was $267,200, up slightly from December 2013. In the Comox Valley, the benchmark price was $319,400, marking an increase of 1.79% over last year. Duncan reports a benchmark price of $280,800, an increase of 1.05% over the same month in 2013, while Nanaimo’s benchmark price was $338,300, up 3.28% compared to last year. The Parksville-Qualicum area posted a benchmark price of $359,400, which is a 4.60% increase over last year. The price for a benchmark home in Port Alberni was $175,800, down slightly from December 2013.

Visit the VIREB website for more information at www.vireb.com or contact Darrell Paysen 250-390-4212, VIREB Manager, Member Services.

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