Real Estate Market Update in Around Town
Vancouver Island Real Estate Board (VIREB) recorded 737 unit sales board-wide (all property types) in June. 359 single-family homes sold, down 15 per cent from June 2023. Sales of condos came in at 82 units, decreasing by 24 per cent. In the row/townhouse category, 91 units sold, down eight per cent from 2023.
Comparing June 2023 and June 2024, the number of single family homes that sold in Campbell River decreased from 38 to 24, Comox Valley increased from 76 to 77, Port Alberni-West Coast increased from 27 to 34, and Powell River decreased from 23 to 19.
| SF MLS ® | Average Sale $ | $ Change |
| Comox Valley | $906,660 | +8.3% last June |
| Campbell River | $774,563 | +9.8% last June |
| Port Alberni/West | $571,791 | -2.7% last June |
| Powell River | $765,521 | +3.1% last June |
While sales remain sluggish, benchmark prices remain steady. The board-wide benchmark price (MLS® Home Price Index) of a single-family home rose three percent year-over-year to $787,300 in June. Apartments were up slightly by one percent to $411,200 and townhomes were down two percent to $542,400.
By region, the benchmark price of a single-family home rose six percent to $704,600 in Campbell River; six percent to $842,800 in the Comox Valley; and three-percent to $437,800 for the North Island. Port Alberni saw a small increase to $514,300.
Source: VIREB and PRSCREB Market Stats
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