According to the Vancouver Island Real Estate Board (VIREB) sales and prices were both down marginally (about 1%) over last month and last year’s figures. As always this hides a lot of variation across the area.
Like Victoria, we seem to be in a buyer’s market, with the inventory of listings increasing this month. There was a 3.3% increase over the figures for May 2011.
The average price across VIREB’s six zones for the last 12 months (July 2010 to June 2011) shows:
- Campbell River down 4 % (to $287,086);
- the Comox Valley also down 4% (to $348,858);
- Nanaimo up 2% (to $370,322);
- Parksville/Qualicum was down 2% (to $387,111),
- Port Alberni jumped 11% (to $270,359);
- the Cowichan Valley was up 1% (to $352,853).
The variation in these markets is something that our local experts can advise on.