Overall Market Showing Stability
Vancouver Island Real Estate Board (VIREB) released Multiple Listing Service (MLS) sales summary data for July 2010 which shows continuing declines in both unit sales volume and inventories of Vancouver Island properties listed for sale.
In July of 2010 there were 347 single family properties sold on Vancouver Island in the VIREB area, down from 536 sales in July of 2009.
Vancouver Island single family properties listed for sale in July 2010 were also down by 12% from the end of July 2009.
The 12-month average sale price for Vancouver Island homes across the VIREB region for the July 2010 was $342,982, indicating a 1% increase from the $340,382 posted at the end of July 2009.
For the 12-month period from the end of July 2009 to July 2010, average sale prices across VIREB’s six zones on Vancouver Island rose in all but two markets:
- Campbell River increased 4% (to $303,056);
- The Comox Valley inched up 1% (to $349,033);
- Nanaimo is up 5% (to $382,672);
- Parksville/Qualicum grew 2% (to $377,506);
- Port Alberni dropped 18% (to $194,765); and
- The Cowichan Valley was down 6% (to $327,549).
Excerpted from 1stView.ca.
