The benchmark price for a single-family home in the Parksville Qualicum Beach area is hovering near $850,000.
Statistics released by the Vancouver Island Real Estate Board (VIREB) indicated the benchmark price of $845,700 in February was up three per cent over the same period a year ago.
According to a VIREB news release, in Campbell River, the benchmark price of a single-family home was $661,600 last month, up nine per cent from the previous year. The Comox Valley’s year-over-year benchmark price rose by six per cent to $829,500. In the Cowichan Valley, the benchmark price was $749,900, a five per cent increase from February 2023. Nanaimo’s year-over-year benchmark price rose by six per cent to reach $787,000. The cost of a benchmark single-family home in Port Alberni was $528,400, up nine per cent from the previous year. For the North Island, the benchmark price of a single-family home dropped by four per cent to $392,100.
The board-wide benchmark price of a single-family home was $753,500 in February 2024, up six per cent from one year ago and a one per cent increase from January. In the apartment category, the benchmark price was $387,400 last month, up one per cent from the previous February and two per cent from January. The benchmark price of a townhouse in February was $546,500, up two per cent from one year ago and a slight decrease from January.
The release noted last month, 254 single-family homes sold in the VIREB area, up 15 per cent from one year ago and 67 per cent from January 2024. Sales of condo apartments in February came in at 68, increasing by 11 per cent year over year and up 45 per cent from January. In the row/townhouse category, 59 units changed hands last month, an increase of 18 per cent from one year ago and up 48 per cent from the previous month.
Active listings of single-family homes were 915 in February, down from 937 the previous year. VIREB’s inventory of condo apartments was 298 last month, up from 253 one year ago. There were 328 row/townhouses for sale last month compared to 251 in February 2023.
“Board-wide, sales rose significantly from last February, while month over month, increases were in the high double digits,” said Jason Yochim, VIREB chief executive officer.