Real Estate listings nearly tripled in Around Town
Your Weekly Construction Briefing
Last month, active listings in the VIREB areas for single-family homes nearly tripled to 1,417 compared to September 2021. Condo and Townhouse listings increased to 627, compared to 273 one year ago.
The increased inventory is creating breathing room for buyers, who are now taking more of a wait-and-see approach. Properties priced to reflecting the shifting real estate market are still seeing strong demand and multiple offers. Other properties are taking longer to sell.
The board-wide benchmark price of a single-family home reached $816,700 in September, up 14 per cent from one year ago but down by three per cent from August. In the apartment category, the benchmark price was $425,800 last month, a 15 per cent increase from September 2021 and down four per cent from August. The year-over-year benchmark price of a townhouse increased by 14 per cent to $597,500, but it dropped by three per cent from August.
In Campbell River, the benchmark price of a single-family home hit $710,100 in September, up by 11 per cent from the previous year. In the Comox Valley, the year-over-year benchmark price rose by 13 per cent to $864,300. the Parksville-Qualicum area saw its benchmark price increase by 12 per cent to $937,800. The cost of a benchmark single-family home in Port Alberni reached $579,800, up 18 per cent from the previous year. For the North Island, the benchmark price of a single-family home rose by 24 per cent to $487,800.
Sales in Campbell River decreased from 45 to 27 units, Port Alberni decreased by 65%, Comox Valley decreased by 29%, and Powell River decreased from 79 to 44.
| SF MLS ® | Average Sale $ | $ Increase |
| Comox Valley | $828,362 | -0.33% last Sept |
| Campbell River | $665,586 | -7.77% last Sept |
| Parksville/Qualicum | $900,161 | -0.04% last Sept |
| Port Alberni/West | $557,688 | +9.59% last Sept |
| Powell River | $598,244 | -6.7% last Sept |
Source: VIREB Market Stats, PRSC Market Stats.
Source: VIREB Market Stats, PRSC Market Stats.
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