Wednesday, March 08, 2006
January Sales Summary Shows Busier Than Usual
News Release: Feb 2, 2006
NANAIMO, BC - Multiple Listing Service (MLS) sales summary data released by the Vancouver Island Real Estate Board, for January 2006, shows unit sales and average sale prices across the board region continuing upward trends.
At the end of January 2006, total unit sales for the board area were up 40 per cent from January 2005, while the average sale price for the total board area increased 19 per cent from January 2005.
VIREB President Darrell Paysen cites buyers wanting to purchase before prices increase any further, as a driving force behind a busier than usual January.
"I think buyers are wanting to buy before interest rates go up any further, even though the increases aren't expected to be more than marginal," he explains.
The average sale price for the board area total increased marginally, from December 2005 to January 2006 but was up 19 per cent from January 2005 to $270,747.
Port Alberni posted the largest gain, increasing a whopping 56 per cent from January 2005 to January 2006, to $173,320.
From January 2005 to January 2006, Campbell River increased 28 per cent (to $234,196), Comox Valley 23 per cent (to $274,762), Nanaimo 12 per cent (to $271,520), and Parksville/Qualicum 27 per cent (to $348,265).
As a total, unit sales across the board area were up 3 per cent from December 2005. They increased substantially in Duncan, from December 2005 to January 2006, by over 47 per cent.
Unit sales from December 2005 to January 2006 were down slightly in Nanaimo, Port Alberni and Parksville/Qualicum.
Paysen notes the outcome of the federal election has also been positive for the real estate industry.
"It's been good for real estate as well as the economy as a whole that the federal government can get on with business and not have a looming election to worry about," he says.
"As a member of their local real estate Board, REALTORS have their finger on the pulse of the housing market. Consumers should contact their REALTOR if they are considering buying or selling a home."
VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighborhoods or account for price differential between geographic areas.
VIREB represents approximately 994 licensed REALTOR members in more than 79 member offices on Vancouver Island (North of Victoria).
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). VIREB REALTORS are also members of the British Columbia Real Estate Association (BCREA). MLS is a cooperative marketing system used by Canada's real estate boards.
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NANAIMO, BC - Multiple Listing Service (MLS) sales summary data released by the Vancouver Island Real Estate Board, for January 2006, shows unit sales and average sale prices across the board region continuing upward trends.
At the end of January 2006, total unit sales for the board area were up 40 per cent from January 2005, while the average sale price for the total board area increased 19 per cent from January 2005.
VIREB President Darrell Paysen cites buyers wanting to purchase before prices increase any further, as a driving force behind a busier than usual January.
"I think buyers are wanting to buy before interest rates go up any further, even though the increases aren't expected to be more than marginal," he explains.
The average sale price for the board area total increased marginally, from December 2005 to January 2006 but was up 19 per cent from January 2005 to $270,747.
Port Alberni posted the largest gain, increasing a whopping 56 per cent from January 2005 to January 2006, to $173,320.
From January 2005 to January 2006, Campbell River increased 28 per cent (to $234,196), Comox Valley 23 per cent (to $274,762), Nanaimo 12 per cent (to $271,520), and Parksville/Qualicum 27 per cent (to $348,265).
As a total, unit sales across the board area were up 3 per cent from December 2005. They increased substantially in Duncan, from December 2005 to January 2006, by over 47 per cent.
Unit sales from December 2005 to January 2006 were down slightly in Nanaimo, Port Alberni and Parksville/Qualicum.
Paysen notes the outcome of the federal election has also been positive for the real estate industry.
"It's been good for real estate as well as the economy as a whole that the federal government can get on with business and not have a looming election to worry about," he says.
"As a member of their local real estate Board, REALTORS have their finger on the pulse of the housing market. Consumers should contact their REALTOR if they are considering buying or selling a home."
VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighborhoods or account for price differential between geographic areas.
VIREB represents approximately 994 licensed REALTOR members in more than 79 member offices on Vancouver Island (North of Victoria).
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). VIREB REALTORS are also members of the British Columbia Real Estate Association (BCREA). MLS is a cooperative marketing system used by Canada's real estate boards.
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