• 408 single-family homes sold on the Multiple Listing Service® (MLS®) System last month compared to 458 the previous month.
• Sales of apartments dropped by 29 per cent year over year while townhouse sales were down by 32 per cent from one year ago.
• Weak housing demand has also contributed to an increase in total active residential listings across the province. In the VIREB area, inventory of single-family homes in June rose by 20 per cent from one year ago (1,334 to 1,597).
• Active listings of apartments climbed by 14 per cent (308 to 352) year over year while townhouse inventory decreased by three per cent (196 to 191).

Single-Family HomesBenchmark Prices

• Campbell River area hit $434,900, an increase of four per cent over June 2018.
• Comox Valley reached $518,200, up by three per from one year ago.
• Duncan price of $471,400, an increase of slightly less than two per cent from June 2018.
• Nanaimo’s rose by three per cent to $559,300.
• Parksville-Qualicum area saw its benchmark price increase by three per cent to $589,500.
• Port Alberni reached $318,300 in June, a nine per cent increase from one year ago.

Buyers are very price conscious and pursuing their home purchases cautiously, while sellers are finally realizing that they need to price their homes competitively to garner interest and a sale.

“Whether you’re a buyer or seller, obtaining the services of a local REALTOR® is crucial,” says Kaye Broens, 2019 VIREB President. “We have access to tools and market analytics that allow us to determine an optimal selling price for your home and help you find a house that fits your needs at the right price.”