Around Town: VIREB Reports Buyer Demand and Low Inventory in October’s Report
The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales in October 2017 rose by 16 per cent from one year ago but dipped 10 per cent from September.
Last month, 460 properties sold on the MLS System® compared to 398 one year ago and 511 in September. In October 2017, the benchmark price of a single-family home in the VIREB area rose to $463,800, up 17 per cent from one year ago. (Benchmark pricing tracks the value of a typical home in the reported area.)
The benchmark price of an apartment last month rose to $272,300, up 28 per cent board-wide from the previous year, while the benchmark price of a townhouse hit $360,100, a 22 per cent increase from 2016.
Excerpt from VIREB October, 2017 Media Release
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