October 3rd, 2012
With VIREB’s release of the latest statistical information regarding housing sales on Vancouver Island some interesting features have appeared. While residential housing sales were down 18% in September when compared to a year ago, there was a 300% increase in the sale of waterfront lots as compared to September 2011. Land in general was a hot commodity across Vancouver Island last month. The sale of strata lots was up 100% from 2011, general building lot sales were up 107% as compared to September 2011, the sale of acreages was up 84% while farm sales recorded a 200% jump in sales. Housing sales did not fare as well when compared over a one year period. Townhouse sales were down 11%, condominium sales dipped 45% while patio home sales dropped a full 60%. In contrast modular home sales reported a 200% jump in sales. At the end of September there were a total of 9,043 listings of all types on the Multiple Listing System® (2,905 being residential properties) - at the same point last year there were 8,953 listings. The monthly statistical snapshot always contains a variety of information and its share of surprises.