Vancouver Island Real Estate Market Stats for February 2016
Vancouver Island Realtor Lorne Gait talks about the Vancouver Island Market
Lorne helps you understand the Vancouver Island Real Estate Market Stats for February 2016.
March 7, 2016 — Our Real Estate Board, VIREB–has published the Vancouver Island Real Estate Stats for February 2016. The stats I focus on are the average numbers for the Cowichan Valley region in single family homes, which includes Ladysmith, Saltair and Chemainus. I also discuss the stats for the Nanaimo region, which includes Cedar. These stats take into consideration the Real Estate Market through the end of February 2016, and also compare to the monthly stats of this time last year in 2015.
We are now two months in 2016 and the market has spilled over from 2015 and is continuing its upward climb. The Nanaimo market has seen a 5% ($28,772+) increase in average single family home price in the last month alone, whereas the Cowichan market has seen a 6% ($42,879+) increase in single family homes. There is quite a lot less inventory this year and much more buyers.
It will continue to be a good time to sell for those who want to more forward with other opportunities. It is also be a good time to buy for those who want an investment that is on continuing on the way up.
In the Nanaimo region, the average sell price for a Single Family Home in February was $414,828. In the Cowichan region, the average single family home was $395,666. Learn more about these figures in the downloadable reports below…
In these 2 reports, you will see:
- Cumulative Residential Average Single Family Sale Price
- Single Family Units Reported Sold
- Comparative Activity by Property Type
- MLS® Single Family Sales Analysis
- Cowichan Valley – Single Family Sales by Subarea
- Nanaimo – Single Family Sales by Subarea
- Gabriola Island
Download the reports:
We hope you have gained some insight on the current stats in the Vancouver Island Real Estate market for February 2016.
Wonder what your property is worth in today’s market?