VIREB January Market Update In Around Town

February 6, 2020

According to the Vancouver Island Real Estate Board’s (VIREB) January Statistics, 174 single-family (SF) homes sold on the Multiple Listing Service® (MLS®) System compared to 235 the previous month and 208 in January 2019. 

The Vancouver Island Real Estate Board has released it’s January Market Update showing a decrease in the sale of Single Family Homes month-over-month and year-over-year.

Year-over-year sales of apartments and townhouses decreased by three per cent and 18 per cent, respectively.

SF MLS ®Average $Sold %
Comox Valley$569,259+2% last Jan
Campbell River$459,725-3% last Jan
Port Alberni$371,914+22% last Jan
Parksville/Qualicum$637,968+8% last Jan

Inventory of single-family homes in January rose slightly (981 to 992), apartment listings increased by three per cent (299 to 309), and townhouse inventory dropped by 24 per cent (165 to 125).  Regionally, the January benchmark price of a single-family home in the Comox Valley ($521,900) increased by four per cent and the Campbell River area ($437,300) also increased by four per cent. Trend wise, inventory is tightening again, which is one of the factors behind weaker sales.

Excerpts from VIREB Market Statistics

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