Around Town: VIREB Reports Buyer Demand and Low Inventory in October’s Report
The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales in October 2017 rose by 16 per cent from one year ago but dipped 10 per cent from September.
The Vancouver Island Real Estate Board reports single-family home sales rose by 16 per cent in October but dipped 10 per cent from September, year-over-year.
Last month, 460 properties sold on the MLS System® compared to 398 one year ago and 511 in September. In October 2017, the benchmark price of a single-family home in the VIREB area rose to $463,800, up 17 per cent from one year ago. (Benchmark pricing tracks the value of a typical home in the reported area.)
The benchmark price of an apartment last month rose to $272,300, up 28 per cent board-wide from the previous year, while the benchmark price of a townhouse hit $360,100, a 22 per cent increase from 2016.
Excerpt from VIREB October, 2017 Media Release
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