Comox Valley home prices shoot up 10 per cent

Home sales prices in the Comox Valley rose 10 per cent for the 12-month period from the end of October 2010 to October 2011.

Home sales prices in the Comox Valley rose 10 per cent for the 12-month period from the end of October 2010 to October 2011, easily the biggest increase in any of the six Vancouver Island Real Estate Board zones.

Multiple Listing Service (MLS) sales summary data released by VIREB showed Comox Valley average sales prices rise 10 per cent (to $352,064).

Campbell River slipped one per cent (to $291,451), Nanaimo rose five per cent (to $356,453), Parksville/Qualicum jumped six per cent (to $366,226), Port Alberni/West Coast went up three per cent (to $219,085) and the Cowichan Valley fell one per cent (to $334,061).

Statistics for October 2011 shows that 301 single-family units sold throughout the VIREB coverage area (Vancouver Island north of Victoria) — an increase of 24 per cent compared to September 2010 but close to last month’s 318 units.

The average price of a single family home sold in October through the VIREB MLS system was $325,308, up two per cent from the $318,609 posted in September 2010.

“We continue to see normal market conditions in the VIREB area and around the province,” said VIREB president Jim Stewart. “There doesn’t seem to be much downward or upward pressure on prices.”

There were 566 single-family homes listed in October, bringing the active single-family homes available through the VIREB MLS system to 2,695, down slightly from the 2,960 available at the end of September.

— Vancouver Island Real Estate Board

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