Around Town – Aug. 6, 2014

August 6, 2014

VIREB Reports Strong Sales Activity for July

A total of 456 single-family homes sold on the MLS® system in the Vancouver Island Real Estate Board (VIREB) coverage area in July 2014. While this figure is slightly lower than the 469 unit sales recorded last month, it represents a six per cent increase over sales activity this time last year.

In July 2014, the benchmark price for a single-family home in the VIREB coverage area was $319,400 with an MLS® HPI index value of 150.1 (This represents a 50.1 per cent increase since January 2005, when the index was 100). The average price of a single-family home in the VIREB area was $346,207, which is an increase of four per cent over this time last year.

The benchmark price for a single-family home in the Campbell River area was $271,400, up 2.04% over this time last year; in the Comox Valley the benchmark price was $329,400, marking an increase of 1.48% over last year; Duncan reports a benchmark price of $280,800, which is exactly the same as it was one year ago; Nanaimo’s benchmark price was $335,200 dipping slightly by 0.93% from last year; Parksville/Qualicum has a benchmark price of $356,400, which is relatively unchanged from this time last year, dipping 0.21%; and the price for a benchmark home in Port Alberni is listed at $200,800 dropping 1.32% from last year.

MLS® HPI Media Contact
Erin MacDonald, Communications Coordinator, VIREB or 250-390-5786