Inventory Up Slightly But Still No Relief for Buyers in Around Town

April 8, 2021

Your Weekly Construction Briefing

According to the Vancouver Island Real Estate Board’s (VIREB) March Statistics and Media Release, while active listings in March were higher than in February, inventory is still at a historical low.

The Vancouver Island Real Estate Board has released it’s March MLS sales statistics, and the real estate market on Vancouver Island is showing fierce competition.

A total of 567 single-family detached properties sold on the MLS® System, a year-over-year increase of 67 per cent. 

SF MLS ®Average Sale $$ Increase
Comox Valley$764,491+26% last March
Campbell River$702,074+44% last March
Port Alberni/West$520,391+43% last March
Parksville/Qualicum$842,772+37% last Mar

As for condo apartments, 136 sold last month versus 47 the previous year, an increase of 189 per cent. In the row/townhouse category, sales increased by 53 per cent year over year (81 to 124). Competition is fierce, and VIREB does not see that abating any time soon.

Source: VIREB Market Statistics

Building Links Construction Reports and Statistics: The weekly #1 construction projects resource for 27 years. New and updated projects, permits, tenders, and industry connections for Vancouver Island – Central North, West Coast and Powell River. Helping you build connections so you can build communities! Where are you getting your information from? Support local trades – Subscribe Now!