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The Average 12 Month to Date Sale Price increased by 24.18% from the previous 12 month period. The 12 Month to Date Average Sale Price was $465,917. There are 1.31 Months of Inventory of Single Family in Port Alberni. It is currently a Avg. Sellers Market. This month’s Inventory increased to 64 Active Listings. There were 59 units listed and 49 units sold.
“Unless demand drops significantly or more housing supply comes online through new construction, the needle for VIREB’s inventory situation will not move by much,” states Mackay. “BCREA, VIREB, and other real estate boards continue advocating with policymakers at the provincial and regional levels to speed up the development process so that municipalities can expand supply more quickly to meet demand.”
Source: Vancouver Island Real Estate Board – MLS® Statistics
PropertyGuys.com delivers premium real estate marketing services to help Vancouver Islanders sell their homes and keep more money in their pockets. PropertyGuys.com price their services at a level that makes sense, and do not price as a percentage of your home’s sale price. PG Direct Realty Ltd. is PropertyGuys.com’s brokerage partner and they help home sellers every step of the way from listing, showings, offers and SOLD! PG Direct Realty Ltd will also help you purchase a home, just call PropertyGuys.com at 778 557 8596 and see how PropertyGuys.com and our partner PG Direct Realty Ltd. can help you buy & sell real estate on Vancouver Island delivering a premium service while still saving you a lot of money!
The monthly Port Alberni Area Real Estate Market Update for January 2021 shows compared to a year ago, an increase in sales for the entire local area. Overall residential sales from last January in the Port Alberni Area were up 30% and up while the average days to sell was up by 17% from last January. The sales over the last 12 months are up by 16%, the market is strong.
Incredibly swift sales in Single Family Detached and townhomes is causing inventory to stay low with only 2 months of inventory of each. The housing market remains strong. We have seen significant gains but as we head into winter the numbers have tempered but not as much as expected.
In the Port Alberni Area, the benchmark price reached $371,200, a seven per cent year-over-year increase. Benchmark pricing tracks the value of “middle-of-the-range” or “typical” homes and excludes the extreme high-end and low-end properties in Port Alberni. It is normally a more stable price indicator than average prices.
“A dearth of listings is an ongoing issue throughout our area. We’re confident that sales activity would be much higher if we had adequate supply. We’d normally say this is a great time to sell, but with so little inventory available, buyers and sellers are in a Catch-22 situation. It’s hard to part with your home if you have nowhere to move.In a competitive housing market, using a REALTOR® can help streamline the buying and selling process to ensure the best possible outcome while mitigating associated risks.” says VIREB president Ian Mackay
Source: Vancouver Island Real Estate Board – MLS® Statistics
PropertyGuys.com delivers premium real estate marketing services to help Vancouver Islanders sell their homes and keep more money in their pockets. PropertyGuys.com price their services at a level that makes sense, and do not price as a percentage of your home’s sale price. PG Direct Realty Ltd. is PropertyGuys.com’s brokerage partner and they help home sellers every step of the way from listing, showings, offers and SOLD! PG Direct Realty Ltd will also help you purchase a home, just call PropertyGuys.com at 778 557 8596 and see how PropertyGuys.com and our partner PG Direct Realty Ltd. can help you buy & sell real estate on Vancouver Island delivering a premium service while still saving you a lot of money!
The monthly Port Alberni Area Real Estate Market Update for December 2020 shows compared to a year ago, an increase in sales for the entire local area. Overall residential sales from last December in the Port Alberni Area were up 30% and up while the average days to sell was up by 17% from last December. The sales over the last 12 months are up by 16%, the market is strong.
Incredibly swift sales in Single Family Detached and townhomes is causing inventory to stay low with only 2 months of inventory of each. The housing market remains strong. We have seen significant gains but as we head into winter the numbers have tempered but not as much as expected.
“…low inventory continues to be the primary reason behind the weaker sales posted in November and December. The buyers are there, but the listings are not…Consumer demand is high, and buyers are snapping up well-priced properties quickly once they hit the market…Multiple offers are commonplace. Notwithstanding high demand, correctly pricing your home remains the key to a quick sale. Overpriced homes tend to linger in our area despite prevailing market conditions.” says VIREB president Kevin Reid
Source: Vancouver Island Real Estate Board – MLS® Statistics
PropertyGuys.com delivers premium real estate marketing services to help Vancouver Islanders sell their homes and keep more money in their pockets. PropertyGuys.com price their services at a level that makes sense, and do not price as a percentage of your home’s sale price. PG Direct Realty Ltd. is PropertyGuys.com’s brokerage partner and they help home sellers every step of the way from listing, showings, offers and SOLD! PG Direct Realty Ltd will also help you purchase a home, just call PropertyGuys.com at 778 557 8596 and see how PropertyGuys.com and our partner PG Direct Realty Ltd. can help you buy & sell real estate on Vancouver Island delivering a premium service while still saving you a lot of money!
The monthly Port Alberni Area Real Estate Market Update for November 2020 shows compared to a year ago, an increase in sales for the entire local area. Overall residential sales from last November in the Port Alberni Area were up 55% and up while the average days to sell was up by 17% from last November. The sales over the last 12 months are up by 16%, the market is strong.
Incredibly swift sales in Single Family Detached and townhomes is causing inventory to stay low with only 1 month of inventory of each. The housing market remains strong. For apartments inventory is much larger with over 7 months of inventory. We have seen significant gains but as we head into winter the numbers have tempered but not as much as expected.
“Despite what may be the worst recession in B.C. history, the housing market had a record fall season, and prices are rapidly rising as pent-up demand floods into an under-supplied market, … As that pent-up demand from the loss of a spring season fades, sales will likely slow from their current pace, but activity is expected to remain strong as record-low mortgage rates and a recovering economy continue to drive sales.” says BCREA.
Source: Vancouver Island Real Estate Board – MLS® Statistics
PropertyGuys.com delivers premium real estate marketing services to help Vancouver Islanders sell their homes and keep more money in their pockets. PropertyGuys.com price their services at a level that makes sense, and do not price as a percentage of your home’s sale price. PG Direct Realty Ltd. is PropertyGuys.com’s brokerage partner and they help home sellers every step of the way from listing, showings, offers and SOLD! PG Direct Realty Ltd will also help you purchase a home, just call PropertyGuys.com at 778 557 8596 and see how PropertyGuys.com and our partner PG Direct Realty Ltd. can help you buy & sell real estate on Vancouver Island delivering a premium service while still saving you a lot of money!
The monthly Port Alberni & Mid-West Vancouver Island Real Estate Market Update for October 2020 shows compared to a year ago, a large increase in sales for the entire local area. Overall residential sales from last October in Port Alberni & Mid-West Vancouver Island were up 142% and up while the average days to sell increased overall by 158% from last October. The sales over the last 12 months are up by 7.3%, the market is strong.
Swift sales in the latter half of the year is causing upward price pressure. We have seen significant gains but as we head into fall the numbers have tempered, with October posting a marginal rise. Sales are still unusually high for this time of year as we work through inventory.
“Demand in the VIREB area continues to be high, but there just aren’t enough homes to satisfy it… Active listings of single-family detached properties (excluding acreage and waterfront) were 733 in October compared to 909 in September. There were 333 condo apartments and 197 row/townhouses for sale last month, down 14 per cent and three per cent, respectively, month over month…We don’t know if it’s a long-term trend, but we have noticed that some of the demand includes buyers who are advancing their retirement plans while others are downsizing and reducing their debt load,” says VIREB president Kevin Reid
Source: Vancouver Island Real Estate Board – MLS® Statistics
Gord is a real estate agent on Vancouver Island with PG Direct Realty Ltd. Gordon is a market expert who loves helping people sell their own homes and save tens of thousands of dollars.