Around Town: Vancouver Island Real Estate Board May 2017 Statistics
In May 2017, the benchmark price of a single-family home in the Vancouver Island Real Estate Board (VIREB) area rose to $431,200, up 18 per cent from one year ago. Prices increased in every zone, ranging from 15 per cent in Duncan to 21 per cent in Nanaimo.
The benchmark price of an apartment in May rose 26 per cent board-wide from the previous year, with Campbell River and Comox Valley posting increases of 37 per cent. The townhouse market also strengthened in May, registering a price increase of 21 per cent board-wide.
The May 2017 benchmark price of a single-family home in the Campbell River area was $346,600, an increase of 21 per cent over May 2016. In the Comox Valley, the benchmark price hit $426,600, up 18 per cent from last year. Duncan reported a benchmark price of $366,200, an increase of 15 per cent compared to May 2016. Nanaimo’s benchmark price rose 21 per cent to $473,200 while the Parksville-Qualicum area saw its benchmark price increase by 18 per cent to $491,500. The price of a benchmark home in Port Alberni hit $232,300, up 18 per cent from one year ago.
Excerpt from VIREB June 1, 2017 press release.
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