Around Town: Buyer demand continues to outpace supply in VIREB area
In April 2016, the benchmark price of a single-family home in the VIREB (Vancouver Island Real Estate Board) area was $356,700, up 8.36 per cent from one year ago. Benchmark pricing tracks the value of a typical home in the reported area. The benchmark price of townhouses and apartments also increased in nearly every market.
The average MLS® price of a single-family home in April was $396,165, a nine per cent increase from April 2015. The April 2016 benchmark price of a single-family home in the Campbell River area was $284,600, a 4.09 per cent increase over 2015. In the Comox Valley, the benchmark price was $357,700, up 10.34 per cent from 2015. Duncan reported a benchmark price of $313,400, an increase of 6.65 per cent over the same month in 2015. Nanaimo’s benchmark price rose 9.08 per cent to $379,300 while the Parksville-Qualicum area saw its benchmark price rise by 10.69 per cent to $399,500. The price for a benchmark home in Port Alberni was $191,600, an increase of 1.42 per cent over April 2015.
For more information, go to: www.vireb.com.
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