Housing prices down, sales up

The average sale price of a home in the Comox Valley is down seven per cent from Mach 2010, although sales have increased from February 2011, said the Vancouver Island Real Estate Board (VIREB).

The average sale price of a home in the Comox Valley is down seven per cent from Mach 2010, although sales have increased from February 2011, said the Vancouver Island Real Estate Board (VIREB).

According to Multiple Listing Service sales summary data for March 2011, despite the decline in unit sales from a year ago, the month showed a 37 per cent increase over February.

The average price of a single family home sold in March 2011 through the VIREB MLS  system was $347, 522, up one per cent from the $345,500 posted in March 2010, and also up 2.5 per cent over February’s $338,911.

There were 943 single family homes listed in March, bringing the active single family homes available through the VIREB MLS system to 2,701, up 6.9 per cent from this time last year.

“It appears we are continuing with a balanced market, prices remain stable as does inventory levels. Sales are picking up as we approach spring, and I believe we will

continue with this stability throughout the spring/summer. Interest rates remain low however may increase toward the end of the year depending on outside influences,” said Cliff Moberg, VIREB past president.

For the 12‐month period from the end of March 2010 to March 2011, average sale prices across VIREB’s six zones saw: Comox Valley slipping 7% (to $349,070); Campbell River staying the same (at $302,033); Nanaimo also remaining steady (at $368, 354); Parksville/Qualicum up 3% (to $391,888); Port Alberni

dropping 5% (to $217,248); and the Cowichan Valley up 8% (to $366,055).

VIREB