Real Estate Market Update In Around Town
Your Weekly Construction Briefing
Last month, 236 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, down two per cent from last November and down three per cent from October 2023. Sales of condos came in at 56 units, increasing by four per cent from 2023. In the row/townhouse category, 50 units sold, up by nine per cent from 2023.
Active listings continue to be down year-over-year, while benchmark prices continue to rise. Year-over-year, the board-wide benchmark price in November for a single family home was $760,100 up four percent; apartments were $388,300, up one percent; and townhomes were $555,000, up three percent.
By community, the benchmark price year-over-year for a single-family home increased four per cent to $656,900 in Campbell River; seven per cent to $832,800 in the Comox Valley; two per cent to in Parksville-Qualicum to $861,300; and decreased six per cent to $413,400 on the North Island.
| SF MLS ® | Average Sale $ | $ Change |
| Comox Valley | $894,387 | +14% last November |
| Campbell River | $753,144 | -1% last November |
| Port Alberni/West | $568,526 | -14% last November |
Comparing November 2023 to November 2022, the number of single family units sold in Campbell River increased from 22 to 30, Comox Valley decreased from 41 to 30, and Port Alberni-West Coast increased from 22 to 25.
The British Columbia Real Estate Association anticipates that VIREB will close the year with around 7,100 sales, the lowest number posted since 2013.
Source: VIREB Market Stats
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