Port Alberni Area Real Estate Market Update for July 2021

 
By: PropertyGuys.com on Vancouver Island
 
 

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Port Alberni Area Real Estate Market Update for July 2021

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.

  • The cost of a benchmark single-family home in Port Alberni reached $488,100, a 47 per cent year-over-year increase.

“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 ​​​

Single Family Homes

The Average 12 Month to Date Sale Price increased by 26.08% from the previous 12 month period. The 12 Month to Date Average Sale Price was $480,166. There are 1.76 Months of Inventory of Single Family in Port Alberni. It is currently a Avg. Sellers Market. This month’s Inventory increased to 67 Active Listings. There were 54 units listed and 38 units sold.

PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.

Lots
The Average 12 Month to Date Sale Price increased by 49.78% from the previous 12 month period. The 12 Month to Date Average Sale Price was $303,522. There are 5.83 Months of Inventory of Lots in Port Alberni. It is currently a Balanced Market. This month’s Inventory increased to 35 Active Listings. There were 14 units listed and 6 units sold.
Apartment Condos
The Average 12 Month to Date Sale Price increased by 32.96% from the previous 12 month period. The 12 Month to Date Average Sale Price was $494,402. There are 2.18 Months of Inventory of Condos (Apt) in Port Alberni. It is currently a Avg. Sellers Market. This month’s Inventory remained the same to 24 Active Listings. There were 11 units listed and 11 units sold.
Townhouse & Patio Condos
The Average 12 Month to Date Sale Price increased by 5.04% from the previous 12 month period. The 12 Month to Date Average Sale Price was $400,661. There are 2.5 Months of Inventory of Condos (Twnhse & Patio) in Port Alberni. It is currently a Avg. Sellers Market. This month’s Inventory remained the same to 10 Active Listings. There were 4 units listed and 4 units sold.
  • Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

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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!

Port Alberni Area Real Estate Market Update for June 2021

By: PropertyGuys.com on Vancouver Island

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Port Alberni Area Real Estate Market Update for June 2021

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.

Incredibly swift sales in Single Family Detached and townhomes. The housing market remains strong. We have seen significant gains but as we head into summer the numbers have tempered but not as much as expected.

The cost of a benchmark single-family home in Port Alberni reached $468,100, a 41 per cent year-over-year increase

“More inventory is certainly good news for buyers, even if the increases are slight,” says 2021 VIREB president Ian Mackay. “We’re also relieved to see a few more conditional offers again, which means the frenzied fear-of-missing-out mentality is tempering a bit.”

Source: Vancouver Island Real Estate Board – MLS® Statistics ​​​

Single Family Homes

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.


PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.

Lots
The Average 12 Month to Date Sale Price increased by 47.12% from the previous 12 month period. The 12 Month to Date Average Sale Price was $302,264. There are 2 Months of Inventory of Lots in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory decreased to 32 Active Listings. There were 14 units listed and 16 units sold.
Apartment Condos
The Average 12 Month to Date Sale Price increased by 55.91% from the previous 12 month period. The 12 Month to Date Average Sale Price was $510,285. There are 5.83 Months of Inventory of Condos (Apt) in Port Alberni. It is currently a Balanced Market. This month's Inventory increased to 35 Active Listings. There were 7 units listed and 6 units sold.
Townhouse & Patio Condos

The Average 12 Month to Date Sale Price increased by 1.69% from the previous 12 month period. The 12 Month to Date Average Sale Price was $395,995. There are 3.33 Months of Inventory of Condos (Twnhse & Patio) in Port Alberni. It is currently a Soft Sellers Market. This month's Inventory increased to 10 Active Listings. There were 9 units listed and 3 units sold.

 

  • Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

Port Alberni Area Real Estate Market Update for May 2021

By: PropertyGuys.com on Vancouver Island

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Port Alberni Area Real Estate Market Update for May 2021

The Average 12 Month to Date Sale Price increased by 19.65% from the previous 12 month period. The 12 Month to Date Average Sale Price was $455,631. There are 1.41 Months of Inventory of Single Family in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory increased to 62 Active Listings. There were 54 units listed and 44 units sold.

Incredibly swift sales in Single Family Detached and townhomes. The housing market remains strong. We have seen significant gains but as we head into summer the numbers have tempered but not as much as expected.

The cost of a benchmark single-family home in Port Alberni reached $442,700, a 30 per cent year-over-year increase

“Listings are up a little in certain markets, which is certainly good news for buyers,” says 2021 VIREB president Ian Mackay. “However, unless demand drops significantly or more housing supply comes online through new construction, we don’t see the inventory situation improving much.”

Source: Vancouver Island Real Estate Board – MLS® Statistics ​​​

Single Family Homes

The Average 12 Month to Date Sale Price increased by 19.65% from the previous 12 month period. The 12 Month to Date Average Sale Price was $455,631. There are 1.41 Months of Inventory of Single Family in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory increased to 62 Active Listings. There were 54 units listed and 44 units sold.


PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.

Lots
The Average 12 Month to Date Sale Price increased by 20.31% from the previous 12 month period. The 12 Month to Date Average Sale Price was $297,651. There are 4 Months of Inventory of Lots in Port Alberni. It is currently a Balanced Market. This month's Inventory increased to 36 Active Listings. There were 18 units listed and 9 units sold.
Apartment Condos
The Average 12 Month to Date Sale Price increased by 19.36% from the previous 12 month period. The 12 Month to Date Average Sale Price was $471,176. There are 8.5 Months of Inventory of Condos (Apt) in Port Alberni. It is currently a Strong Buyers Market. This month's Inventory increased to 34 Active Listings. There were 10 units listed and 4 units sold.
Townhouse & Patio Condos

The Average 12 Month to Date Sale Price increased by 6.85% from the previous 12 month period. The 12 Month to Date Average Sale Price was $404,972. There are 2.5 Months of Inventory of Condos (Twnhse & Patio) in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory increased to 5 Active Listings. There were 4 units listed and 2 units sold.

 

  • Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

Port Alberni Area Real Estate Market Update for April 2021


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Port Alberni Area Real Estate Market Update for April 2021

The Average 12 Month to Date Sale Price increased by 17.33% from the previous 12 month period. The 12 Month to Date Average Sale Price was $444,829. There are 1.15 Months of Inventory of Single Family in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory increased to 53 Active Listings. There were 52 units listed and 46 units sold.

Incredibly swift sales in Single Family Detached and townhomes. The housing market remains strong. We have seen significant gains but as we head into spring the numbers have tempered but not as much as expected.

The cost of a benchmark single-family home in Port Alberni reached $417,700, a 26 per cent year-over-year increase

“We have seen that demand-side policies like taxes and higher mortgage rates are just not working,” notes Mackay. “The best route to making housing more affordable, particularly for first-time buyers, is to increase supply. It’s not a quick solution, but it’s the only one that makes sense long-term.” -says 2021 VIREB president Ian Mackay

Source: Vancouver Island Real Estate Board – MLS® Statistics

Single Family Homes

The Average 12 Month to Date Sale Price increased by 17.33% from the previous 12 month period. The 12 Month to Date Average Sale Price was $444,829. There are 1.15 Months of Inventory of Single Family in Port Alberni. It is currently an Avg. Sellers Market. This month's Inventory increased to 53 Active Listings. There were 52 units listed and 46 units sold.

PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.

Lots
The Average 12 Month to Date Sale Price increased by 20.54% from the previous 12 month period. The 12 Month to Date Average Sale Price was $293,474. There are 2.5 Months of Inventory of Lots in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory decreased to 30 Active Listings. There were 11 units listed and 12 units sold.
Apartment Condos
The Average 12 Month to Date Sale Price increased by 17.67% from the previous 12 month period. The 12 Month to Date Average Sale Price was $438,998. There are 7.25 Months of Inventory of Condos (Apt) in Port Alberni. It is currently a Avg. Buyers Market. This month's Inventory increased to 29 Active Listings. There were 17 units listed and 4 units sold.
Townhouse & Patio Condos

The Average 12 Month to Date Sale Price increased by 13.45% from the previous 12 month period. The 12 Month to Date Average Sale Price was $413,044. There are 0.6 Months of Inventory of Condos (Twnhse & Patio) in Port Alberni. It is currently a Strong Sellers Market. This month's Inventory decreased to 3 Active Listings. There were 2 units listed and 5 units sold.

  • Seller's Market– In a seller’s market, conditions are favourable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices

Port Alberni Area Real Estate Market Update for March 2021


By: PropertyGuys.com on Vancouver Island

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Port Alberni Area Real Estate Market Update for March 2021

Incredibly swift sales in Single Family Detached and townhomes. The housing market remains strong. We have seen significant gains but as we head into spring the numbers have tempered but not as much as expected.

In the Port Alberni Area, the cost of a benchmark single-family home in Port Alberni reached $407,200, a 19 per cent year-over-year increase.

“It’s painfully clear that attempts to dampen demand have not moderated home prices, so the best route to making housing more affordable, particularly for first-time buyers, is to increase supply,” says Mackay. “It’s not a quick solution, but it’s the only one that makes sense long-term. And, to do that, we need all levels of government working together.” -says 2021 VIREB president Ian Mackay

Source: Vancouver Island Real Estate Board – MLS® Statistics

Single Family Homes

The Average 12 Month to Date Sale Price increased by 15.78% from the previous 12 month period. The 12 Month to Date Average Sale Price was $437,282. There are 1.53 Months of Inventory of Single Family in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory increased to 55 Active Listings. There were 57 units listed and 36 units sold.

PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.

Lots
The Average 12 Month to Date Sale Price increased by 22.62% from the previous 12 month period. The 12 Month to Date Average Sale Price was $290,940. There are 1.52 Months of Inventory of Lots in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory remained the same to 32 Active Listings. There were 21 units listed and 21 units sold.
Apartment Condos
The Average 12 Month to Date Sale Price increased by 9.22% from the previous 12 month period. The 12 Month to Date Average Sale Price was $419,984. There are 4.25 Months of Inventory of Condos (Apt) in Port Alberni. It is currently a Balanced Market. This month's Inventory remained the same to 17 Active Listings. There were 4 units listed and 4 units sold.
Townhouse & Patio Condos
The Average 12 Month to Date Sale Price increased by 1.57% from the previous 12 month period. The 12 Month to Date Average Sale Price was $381,403. There are 2 Months of Inventory of Condos (Twnhse & Patio) in Port Alberni. It is currently a Avg. Sellers Market. This month's Inventory increased to 6 Active Listings. There were 6 units listed and 3 units sold.
  • Seller’s Market – In a seller’s market, conditions are favourable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

Port Alberni Area Real Estate Market Update for January 2021

 
By: PropertyGuys.com on Vancouver Island
 
 

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Port Alberni Area Real Estate Market Update for January 2021

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 ​​​

Single Family Homes
The Average 12 Month to Date Sale Price increased by 13.28% from the previous 12 month period. The 12 Month to Date Average Sale Price was $419,984. There are 2 Months of Inventory of Single Family in Port Alberni. It is currently a Avg. Sellers Market. This month’s Inventory increased to 52 Active Listings. There were 29 units listed and 26 units sold.

PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.
Lots
The Average 12 Month to Date Sale Price increased by 8.7% from the previous 12 month period. The 12 Month to Date Average Sale Price was $258,977. There are 5.4 Months of Inventory of Lots in Port Alberni. It is currently a Balanced Market. This month’s Inventory decreased to 54 Active Listings. There were 8 units listed and 10 units sold.
Apartment Condos
The Average 12 Month to Date Sale Price increased by 10.73% from the previous 12 month period. The 12 Month to Date Average Sale Price was $413,000. There are 3.8 Months of Inventory of Condos (Apt) in the Comox Valley. It is currently a Soft Sellers Market. This month’s Inventory decreased to 19 Active Listings. There were 3 units listed and 5 units sold.
Townhouse & Patio Condos
The Average 12 Month to Date Sale Price decreased by 0.12% from the previous 12 month period. The 12 Month to Date Average Sale Price was $389,797. There are 1 Months of Inventory of Condos (Twnhse & Patio) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 2 Active Listings. There were 1 units listed and 2 units sold.

Market Legend

  • Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

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PropertyGuys.com on Vancouver Island

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!

PA - Real Estate Market - Dec 2020

Port Alberni Area Real Estate Market Update for December 2020

 
By: PropertyGuys.com on Vancouver Island
 
 

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Port Alberni Area Real Estate Market Update for December 2020

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.

  • In the Port Alberni Area, the benchmark price was $328,000, a slight 1% increase from one year ago. Benchmark pricing tracks the value of “middle-of-the-range” or “typical” homes and excludes the extreme high-end and low-end properties in Campbell River. It is normally a more stable price indicator than average prices. 

“…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 ​​​

Single Family Homes
Single Family - Port Alberni Real Estate Market - Dec 20 The Average 12 Month to Date Sale Price increased by 13.28% from the previous 12 month period. The 12 Month to Date Average Sale Price was $419,984. There are 2 Months of Inventory of Single Family in the Port Alberni area. It is currently a Avg. Sellers Market. This month’s Inventory increased to 52 Active Listings. There were 29 units listed and 26 units sold.


PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.
Lots
Lot - Port Alberni Real Estate Market - Dec 20 The Average 12 Month to Date Sale Price increased by 8.7% from the previous 12 month period. The 12 Month to Date Average Sale Price was $258,977. There are 5.4 Months of Inventory of Lots in the Port Alberni area. It is currently a Balanced Market. This month’s Inventory decreased to 54 Active Listings. There were 8 units listed and 10 units sold.
Apartment Condos
Apartment Condo - Port Alberni Real Estate Market - Dec 20 The Average 12 Month to Date Sale Price increased by 10.73% from the previous 12 month period. The 12 Month to Date Average Sale Price was $413,000. There are 3.8 Months of Inventory of Condos (Apt) in the Port Alberni area. It is currently a Soft Sellers Market. This month’s Inventory decreased to 19 Active Listings. There were 3 units listed and 5 units sold.
Townhouse & Patio Condos
Townhouse Condo - Port Alberni Real Estate Market - Dec 20 The Average 12 Month to Date Sale Price decreased by 0.12% from the previous 12 month period. The 12 Month to Date Average Sale Price was $389,797. There are 1 Months of Inventory of Condos (Twnhse & Patio) in the Port Alberni area. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 2 Active Listings. There were 1 units listed and 2 units sold.

Market Legend

  • Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

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PropertyGuys.com on Vancouver Island

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!

PA Real Estate Stats - Nov 20

Port Alberni Area Real Estate Market Update for November 2020

 
By: PropertyGuys.com on Vancouver Island
 
 

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Port Alberni Area Real Estate Market Update for November 2020

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.

  • In the Port Alberni Area, the benchmark price was $326,800, a slight 0.67% decrease from one year ago. Benchmark pricing tracks the value of “middle-of-the-range” or “typical” homes and excludes the extreme high-end and low-end properties in Campbell River. It is normally a more stable price indicator than average prices. 

“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 ​​​

Single Family Homes
Single Family - PA Real Estate Stats - Nov 20 The Average 12 Month to Date Sale Price increased by 15.16% from the previous 12 month period. The 12 Month to Date Average Sale Price was $273,423. There are 3.08 Months of Inventory of Single Family in North Vancouver Island. It is currently a Soft Sellers Market. This month’s Inventory decreased to 40 Active Listings. There were 10 units listed and 13 units sold.


PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.
Lots
Lot - PA Real Estate Stats - Nov 20 The Average 12 Month to Date Sale Price increased by 15.39% from the previous 12 month period. The 12 Month to Date Average Sale Price was $107,853. There are 4.86 Months of Inventory of Lots in North Vancouver Island. It is currently a Balanced Market. This month’s Inventory remained the same to 34 Active Listings. There were 7 units listed and 7 units sold.
Apartment Condos
Apartment Condo - PA Real Estate Stats - Nov 20 The Average 12 Month to Date Sale Price increased by 36.12% from the previous 12 month period. The 12 Month to Date Average Sale Price was $73,944. There are 6.33 Months of Inventory of Condos (Apt) in the North Vancouver Island. It is currently a Soft Buyers Market. This month’s Inventory increased to 19 Active Listings. There were 6 units listed and 3 units sold.
Townhouse & Patio Condos
Townhouse Condo - PA Real Estate Stats - Nov 20 The Average 12 Month to Date Sale Price increased by 12.21% from the previous 12 month period. The 12 Month to Date Average Sale Price was $113,706. There are 4.5 Months of Inventory of Condos (Twnhse & Patio) in the North Vancouver Island. It is currently a Balanced Market. This month’s Inventory decreased to 9 Active Listings. There were 1 units listed and 2 units sold.

Market Legend

  • Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

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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!

Port Alberni and MW Van Isle Real Estate Market Update - Oct 2020 - PGDR

Port Alberni & Mid-West Island Real Estate Market Update for October 2020

By Gordon McKinlay
PG Direct Realty Ltd. on Vancouver Island

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Port Alberni & Mid-West Island Real Estate Market Update for October 2020

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.

  •  Single Family homes sales show rising average prices, the market is active and strong.  
  • In Port Alberni & Mid-West Vancouver Island the benchmark price reached $339,900, up by one percent from one year ago. Benchmark pricing tracks the value of “middle-of-the-range” or “typical” homes and excludes the extreme high-end and low-end properties in Campbell River. It is normally a more stable price indicator than average prices. 

“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 ​​​

Single Family Homes
Single Family - Port Alberni and MW Van Isle Real Estate Market Update - Oct 2020 The Average 12 Month to Date Sale Price increased by 11.99% from the previous 12 month period. The 12 Month to Date Average Sale Price was $411,955. There are 1.36 Months of Inventory of Single Family in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 61 Active Listings. There were 42 units listed and 45 units sold.

PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.
Lots
Lot - Port Alberni and MW Van Isle Real Estate Market Update - Oct 2020 The Average 12 Month to Date Sale Price increased by 3.72% from the previous 12 month period. The 12 Month to Date Average Sale Price was $247,270. There are 4.71 Months of Inventory of Lots in the Comox Valley. It is currently a Balanced Market. This month’s Inventory increased to 66 Active Listings. There were 15 units listed and 14 units sold.
Apartment Condos
Apartment Condo - Port Alberni and MW Van Isle Real Estate Market Update - Oct 2020 The Average 12 Month to Date Sale Price increased by 7.98% from the previous 12 month period. The 12 Month to Date Average Sale Price was $392,094. There are 8.67 Months of Inventory of Condos (Apt) in the Comox Valley. It is currently a Strong Buyers Market. This month’s Inventory increased to 26 Active Listings. There were 4 units listed and 3 units sold.
Townhouse & Patio Condos
Townhouse Condo - Port Alberni and MW Van Isle Real Estate Market Update - Oct 2020 The Average 12 Month to Date Sale Price decreased by 1.68% from the previous 12 month period. The 12 Month to Date Average Sale Price was $386,038. There are 4 Months of Inventory of Condos (Twnhse & Patio) in the Comox Valley. It is currently a Balanced Market. This month’s Inventory increased to 4 Active Listings. There were 3 units listed and 1 units sold.

Market Legend

  • Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

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PropertyGuys.com Comox Valley & North Vancouver Is

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Meet Gord

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.