Real Estate Market Update in Around Town
Your Weekly Construction Briefing
Last month, 266 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, an 11 per cent increase from one year ago (239) and down 18 per cent from August 2023 (324). Sales of condo apartments came in at 85 units, increasing by 63 per cent from September 2022. In the row/townhouse category, 71 units sold, up by 48 per cent.
| SF MLS ® | Average Sale $ | $ Change |
| Comox Valley | $886,668 | +7% last Sept. |
| Campbell River | $667,121 | +0.2% last Sept. |
| Port Alberni/West | $487,990 | -32% last Sept. |
Active residential listings in September were 1,717, down from 2,044 one year ago. The number of units sold this September compared to September 2022 are: Campbell River sales were down from 27 to 24, Comox Valley was the same at 49, and Port Alberni-West Coast increased to 20 from 16.
The board-wide benchmark prices were up slightly across all categories in September. The benchmark price for a single-family home was $776,200, apartments were $399,100, and townhomes were $556,400. This represented increase of one to two percent year-over-year and month-over-month compared to August.
However, benchmark prices increase were not evenly distributed, with the Comox Valley showing a 6% increase year-over-year to $842,000, Campbell River a 1% increase to $668,600, and Port Alberni a 2% increase to $538,000.
Source: VIREB September Market Stats
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