Around Town: VIREB Reports on January 2015 Housing Prices
Sales activity across the Vancouver Island housing market area was down in January, but the average price continues to inch upward. In the Vancouver Island Real Estate Board (VIREB) coverage area, 196 single-family homes sold on the MLS® system in January 2015.
This represents an 8% decrease from the 212 sales recorded in January 2014 and a 23% decrease from last month, which posted 257 sales. Overall, the housing market in the VIREB area remains in balanced territory. In January 2015, the benchmark price for a single-family home in the VIREB coverage area was $320,700, up 3.21% from 2014. Benchmark pricing tracks the value of a typical home in the reported area.
The benchmark price of a single-family home in the Campbell River area was $271,500, up 4.58% from January 2014. In the Comox Valley, the benchmark price was $320,000, virtually unchanged from last year. Duncan reports a benchmark price of $284,100, an increase of 4.41% over the same month in 2014. Nanaimo’s benchmark price was $337,200, up a little over four per cent compared to last year. The Parksville-Qualicum area posted a benchmark price of $348,700, which is a 1.28% increase over last year. The price for a benchmark home in Port Alberni was $168,800, down 9.27% from January 2014.
Visit the VIREB website for updated information at www.vireb.com.
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