Multiple
Listing Service® (MLS®) sales summary data released by the
Vancouver Island Real Estate Board (VIREB) for August 2010,
shows declines in unit sales compared to 2009 but very close
to 2008 numbers.
There
were 320 sales of single family properties in the VIREB area
through the Multiple Listing Service® (MLS®) in August 2010,
down 38 per cent from the 516 sales in August 2009, but close
to mirroring the 327 sales in August
2008.
Newly
listed properties continues to slow down with 653 single
family homes coming on the market in August compared to 745 in
July.
“The
numbers are certainly better than we expected, “says VIREB
President Cliff Moberg, “prices seem to be firm.” “It seems
the worst is possibly behind us”, he
adds.
The
12-month average sale price across the VIREB region for August
2010 was $335,775; a one per cent increase from the $332,090
posted a year ago.
For
the 12-month period from the end of August 2009 to August
2010, average sale prices across VIREB's six zones rose in all
but one market: Campbell River increased two per cent (to $286,653),
the Comox Valley was up four per cent (to $325,369), Nanaimo
slipped one per cent (to $349,974), Parksville/Qualicum was up
3 per cent to $390,562), Port Alberni grew 18 per cent (to $266,028)
and the Cowichan Valley inched up one per cent (to
$366,502).
Jim
Stewart, president-elect of VIREB says that, “Although there
are positive signs moving forward, with the sales to listing
ratio at about 50 per cent, it is more important than ever to
consult with a REALTOR® to be sure that your home is listed at
a realistic price.
VIREB
represents approximately 1,100 licensed REALTOR® members in
more than 85 member offices on Vancouver Island (north of
Victoria).