Low Inventory and High Demand Creating Brisk Sellers' Market
August 1st, 2017
VIREB reports that single-family home sales dipped slightly in July, down to 558 from la... more »
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2012
April 2nd, 2013
Multiple Listing Service® (MLS®) sales summary data for March released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island was down six percent compared to last year, while average sale prices remained virtually unchanged. The average price of a single family home sold within the VIREB region in March was $319,912 which is nearly identical to the March 2012 average price of $319,661. The number of housing units reported sold last month were down compared to a year ago. In March 2012 there were 298 single family homes sold, in comparison 281 unit sales were recorded in March 2013. “We've experienced increased levels of month over month activity through the first quarter of 2013 which should translate into increased unit sales as we move into the Spring,” explained VIREB President Gary Gray “With stable pricing, reasonably strong inventory levels and historically low mortgage rates, buyers are realizing that this is a good time to buy a home. As each area is unique it’s important to contact your local REALTOR® to better understand market conditions in your area.”