Vancouver Island real estate news for June 2011

Nanaimo harbour
Nanaimo

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.

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