VIREB August Market Update in Around Town

September 12, 2019

According to the Vancouver Island Real Estate Board’s (VIREB) August Statistics, 413 single-family (SF) homes sold on the Multiple Listing Service® (MLS®) System compared to 453 the previous month and 463 in August 2018.  

Year-over-year sales of apartments and townhouses dropped by 28 per cent and 25 per cent, respectively.

Single-Family MLS: ® Average $, Sold %

• Comox Valley: $567,530, +1% last July
• Campbell River:  $511,819, -15% last July
• Port Alberni: $339,993, +24% last July
• Parksville/Qualicum: $608,200, -6% last July

Inventory of single-family homes in August rose by 11 per cent (1,343 to 1,485), apartment listings increased by 23 per cent (299 to 369), and townhouse inventory is virtually the same as reported in July (176 to 173). 

Regionally, the August benchmark price of a single-family home in the Comox Valley increased by two per cent, and the Campbell River area increased by 10 per cent.

Excerpts from VIREB August 2019 Market Statistics

Receive up-to-date information on building permits, tenders, proposed developments and construction news for the Comox Valley, Campbell River, Port Hardy, Powell River and more locations on the North Island.