Vancouver Island Real Estate Market Update In Around Town
Last month’s housing market was calmer than expected, with 291 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area, down 22 per cent from March 2023. Sales of condos came in at 84 units, increasing by 27 per cent from 2023. In the row/townhouse category, 82 units sold, up by 9 per cent from 2023.
The board-wide benchmark price (MLS® Home Price Index) of a single-family increased 5% year-over-year up to $765,600 in March 2024; apartment’s 2% to $395,000; and townhomes 1% to $545,200.
| SF MLS ® | Average Sale $ | $ Change |
| Comox Valley | $947,555 | +11% last March |
| Campbell River | $766,992 | +13% last March |
| Port Alberni/West | $583,496 | -0.6% last March |
| Powell River | $636,083 | -4% last March |
Comparing March 2023 and March 2024, the number of single family units sold in Campbell River decreased from 44 to 24 with a benchmark price of $677,500; Comox Valley decreased from 75 to 48 with a benchmark price of $856,300; Port Alberni-West Coast decreased from 29 to 27 with a benchmark price of $528,800; and Powell River decreased from 30 to 23.
Source: VIREB and PRSCREB Market Stats
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