Island Housing Sales Increase In November

Multiple Listing Service® (MLS®) sales summary data for November released by the Vancouver Island Real Estate Board (VIREB) shows housing sales activity across Vancouver Island climbed nine percent compared to last year, while average sale prices dipped four percent. The average price of a single family home sold within the VIREB region in November was $317,708 down from the November 2011 average price of $332,438. The number of reported unit sales was up last month when compared to a year ago. In November 2011 there were 264 single family homes sold, in comparison 289 unit sales were recorded in November 2012.
“It’s a case of steady as it goes in terms of the marketplace,” explained Cameron Muir, Chief Economist with the British Columbia Real Estate Association (BCREA). “There has been relative stability in sales and pricing on Vancouver Island in the last half of 2012. Into 2013 I think we ...