Real Estate Market Conditions for April, 2014

Home sales across the Vancouver Island region have remained relatively steady over the past four months. A total of 360 single-family homes sold on the Multiple Listing Service® (MLS®) system in the Vancouver Island Real Estate Board (VIREB) coverage area in April 2014.

This represents a 1.1% increase over unit sales recorded last month, and a 12% decrease in unit sales over April of last year. Although unit sales have edged down slightly from this time last year, when looking at the 12 month-to-date comparative figures, the Board is actually reporting a 15% increase.

The benchmark price for a single-family home in the Campbell River area was $268,000, up 4.78 per cent over this time last year; in the Comox Valley the benchmark price was $319,600 marking a slight increase of 0.46 per cent over last year; Duncan reports a benchmark price of $283,100 which is virtually unchanged from last year, increasing a mere .07 per cent; Nanaimo’s benchmark price was $335,700 up 2.86 per cent over last year; Parksville/Qualicum has a benchmark price of $349,500, rising 1.58 per cent from  last year; and the price for a benchmark home in Port Alberni is listed at $183,600, an increase of 3.17 per cent over last year.

Excerpted from VIREB Sales Summary for April, 2014. For more information, contact:
Erin MacDonald, Communications Coordinator, VIREB
Phone: 250-390-4212
www.vireb.com