VIREB April market update in Around Town

May 13, 2021

Your Weekly Construction Briefing

According to the Vancouver Island Real Estate Board’s (VIREB) April statistics, inventory on single family homes and condo apartments rose eight and 16 per cent, respectively, but active listings of townhouses dropped by eight per cent. April saw sales of 590 single-family detached properties compared to 567 the previous month.

The Vancouver Island Real Estate Board has released its April 2021 Statistics Package; a lack of inventory has contributed to a sellers market that continues to drive prices up.

SF MLS ® Median Sale Price April 2021 vs 2020

  • Comox Valley: $749,000 (2021) vs $567,500 (2020) 
  • Campbell River: $641,000 vs $449,900
  • Port Alberni/West: $454,750 vs $338,000 
  • Parksville/Qualicum: $766,950 vs $699,900

The pervasive lack of inventory has created a strong sellers’ market, and buyers face fierce competition in their home search. Multiple offers are the norm rather than the exception, and many homes are selling over the asking price.

Source: VIREB market statistics

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