VIREB Real Estate Market Update in Around Town
Last month, 254 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, up 15 per cent from February 2023. Sales of condos came in at 68 units, increasing by 11 per cent from 2023. In the row/townhouse category, 59 units sold, up by 18 per cent from 2023. However, active listings are down in comparison to February 2023.
The board-wide benchmark price (MLS® Home Price Index) of a single-family home increased six percent year-over-year to $753,500 in February of this year, while apartments rose on percent to $387,400, and townhouse up two percent to $546,500.
In Campbell River, the benchmark price of a single-family home was up nine percent year-over-year to $661,600; the Comox Valley rose six percent to $829,500; Port Alberni nine percent to $528,400; and the North Island dropped four percent to $392,100.
| SF MLS ® | Average Sale $ | $ Change |
| Comox Valley: | $871,291 | +6.7% last February |
| Campbell River: | $703,295 | -4.7% last February |
| Port Alberni/West: | $637,096 | +0.1% last February |
| Powell River: | $645,787 | -6.1% last February |
Comparing February 2023 and February 2024, the number of single family units sold in Campbell River decreased from 28 to 21, Comox Valley decreased from 39 to 36, Port Alberni-West Coast increased from 18 to 26, and Powell River increased from 7 to 15.
Source: VIREB and PRSCREB Market Stats
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