VIREB Reports Buyer Optimism in May Statistics Package
In May, the Vancouver Island Real Estate Board (VIREB) reported 781 property sales, down 3% from last year, while active listings rose 5% to 4,439. Inventory rose slightly across all categories, supporting a balanced market with nearly six months of supply.
Single-family home sales increased 1% year-over-year to 409 units, while condo and townhouse sales declined by 19% and 20%. The benchmark price for single-family homes rose 4% to $811,400, condos fell 2% to $406,500, and townhouses rose 3% to $561,700.
Comox Valley and North Island led in price growth at 7% and 12%. The Comox Valley’s year-over-year benchmark price rose to $887,600 and the North Island to $477,200. In Campbell River, the year-over-year price of a single-family home rose 1% to $722,700 last month, while Parksville-Qualicum increased by 3%to $920,500, and Port Alberni rose 1% to $518,300.
Source: VIREB
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