Real Estate Market Update in Around Town

May 9, 2024

Vancouver Island Real Estate Board (VIREB) recorded 741 unit sales board-wide (all property types) in April. 376 single-family homes sold, down 2 per cent from April 2023. Sales of condos came in at 75 units, dropping by one per cent. In the row/townhouse category, 83 units sold, down 2 per cent from 2023. 

The spring real estate market has begun to pick up on Vancouver Island with increased listings and increased benchmark prices.

Active listings increased year-over-year in April to 1,271 single family homes (from 956); 381 condos (from 304); and 368 row/townhouses (from 246). The board-wide benchmark price (MLS® Home Price Index) also increased year-over-year by five percent to $774,700 for a single family home; two percent to $395,300 for an apartment; and two percent to $545,100 for a townhouse. 

SF MLS ®Average Sale $$ Change
Comox Valley$974,555-0.8% last April
Campbell River$706,992+2% last April
Port Alberni/West$583,496+11.7% last April
Powell River$734,439-1.6% last April

Comparing April 2023 and April 2024, the number of single family homes that sold in Campbell River decreased from 47 to 31 but the benchmark price was up seven percent to $678,800; the  Comox Valley increased from 64 to 66 with a benchmark price of $857,300 (up nine percent); Port Alberni-West Coast decreased from 33 to 28 and a benchmark price of $531,400 (up four percent); and Powell River increased from 14 to 29 and a benchmark price of $734,839.

Source: VIREB and PRSCREB Market Stats

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