Around Town VIREB January Market Update
According to the Vancouver Island Real Estate Board’s (VIREB) January Statistics, the mortgage stress test is taking a toll on housing sales throughout the province with sales of single-family homes from Duncan to Port Hardy dropping by 28 per cent from one year ago.
January 2018 Multiple Listing Service® Sales Summary
- Comox Valley: $557,156, +8% from Dec., +13% last Jan., YTD units sold -19%
- Campbell River: $473,696, +1% from Dec., +20% last Jan., YTD units sold +26%
- Port Alberni: $304,431, -18% from Dec., -7% last Jan., YTD units sold -46%
- Parksville/Qualicum: $583,048, -10% from Dec., -4% last Jan., YTD units sold -21%
Inventory of single-family homes in January rose by 32 per cent from one year ago (987 compared to 748) and was nearly five per cent higher than in December. Active listings of apartments climbed by 38 per cent (219 to 303) year over year and townhouses by 60 per cent (103 to 165).
Excerpts from VIREB February 1 press release
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