Vancouver Island 2016 Real Estate Market Update

Vancouver Island 2016 Real Estate Market Update

This Vancouver Island 2016 Real Estate Market Update is from statistics and information provided to Brokers at the Vancouver Island Real Estate Board (VIREB).

The Vancouver Island Real Estate Board November 2015 stats are now available. These stats take into consideration the Real Estate Market through the end of December. A year end gives us all a great opportunity to consider the current market and  forecast for the 2016 Real Estate Market on Vancouver Island.

In the VLOG, Lorne has briefly summarized the current market update of Q4 of 2015 and Q1 of 2016.  The gist of the market is that there are less listings and more Buyers in our market.  This is putting pressure on pricing.  Prices are rising and should rise into the new year on Vancouver Island.

Merry Christmas and a Happy New Year!