House prices up seven per cent in Comox Valley

The average price of home sales in the Comox Valley jumped up seven per cent for the 12-month period from the end of August 2010 to August 2011.

The average price of home sales in the Comox Valley jumped up seven per cent for the 12-month period from the end of August 2010 to August 2011.The average price, as tracked by the Vancouver Island Real Estate Board, rose to $347,383.Average sale prices elsewhere across VIREB’s zones: Campbell River down three per cent to $278,696, Nanaimo up five per cent to $365,537, Parksville/Qualicum up two per cent to $398,358, Port Alberni/West Coast down two per cent to $262,032 and the Cowichan Valley down eight per cent to $336,414.Multiple Listing Service sales summary data released by VIREB for August 2011 shows a 13-per-cent increase in single-family unit sales compared to August 2010 and six per cent more unit sales than last month.The average price of a single family home sold in August 2011 through the VIREB MLS system was $345,866, up three per cent from the $335,506 posted in August 2010, and on par with July 2011’s $344,655.VIREB President Jim Stewart says; “We continue to see stability in the real estate market, with mortgage rates remaining low. Vancouver Island continues to be a great place to invest.” There were 742 single family homes listed in August, bringing the active single family homes available through the VIREB MLS system to 3,168 up from 2,991 this time last year and down slightly from the 3,239 available at the end of July.VIREB represents approximately 1,070 Realtor members in more than 85 member offices on Vancouver Island (north of Victoria).

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