August Sales Numbers Hold Steady for Vancouver Island Real Estate Board

MLS sales data released by the Vancouver Island Real Estate Board (VIREB) for August 2011, shows a 13 per cent increase in single family unit sales compared to August 2010, and a six per cent increase over July 2011.

The average price of a single family home sold in August 2011 through the VIREB MLS system was $345,866 up three per cent from the $335,506 of August 2010, and on par with July 2011’s $344,655.

There were 742 single family homes listed in August, bringing the active single family homes available through the VIREB MLS system to 3,168, up from the 2,991 available this time last year, and down slightly from the 3,239 available at the end of July.

For the 12-month period from the end of August 2010 to August 2011, average sale prices across VIREB's six zones saw: Campbell River down three per cent (to$278,696), the Comox Valley up seven per cent (to $347,383), Nanaimo was up five per cent (to $365,537), Parksville/Qualicum was up two per cent (to $398,358), Port Alberni/West Coast slipped two per cent (to $262,032) and the Cowichan Valley was down eight per cent (to $336,414).