Multiple Listing Service sales summary data released by the Vancouver Island Real Estate Board for April 2011, shows a 13 per cent decline in single family unit sales compared to April 2010 and an almost nine per cent decrease from last month.
The average price of a single family home sold in April 2011 through the VIREB MLS system was $353,613, up one per cent from the $348,423 posted in April 2010, similar to March 2011 $347,522
“We are seeing long term stability in the market with no dramatic upward pressure on prices expected,” Jim Stewart, president of VIREB said. “Although you need to look at a larger window than one month to establish a trend it is encouraging to see consumer interest in our smaller markets of Campbell River and Port Alberni.”
There were 868 single family homes listed in April, bringing the active single family homes listed in the VIREB region through MLS to 2,944, up from 2,818 this time last year.
For the 12-month period from the end of April 2010 to April 2011, average sale prices across VIREB's six zones saw: Campbell River down 1 per cent (to $292,949), the Comox Valley up 2 per cent (to $355,976), Nanaimo also up 2 per cent (to $374,501), Parksville/Qualicum was up 2 per cent (to $408,162) and the Cowichan Valley was up 2 per cent (to $360,029).
Please note that this blog entry was published more than three months ago. Some details may be outdated.