Multiple Listing Service sales summary data released by the Vancouver Island Real Estate Board for July 2011, shows a two per cent decline in single family home sales compared to July 2010. July saw a drop of 70 fewer homes sold on Vancouver Island north of the Malahat than June 2011.
The average price of a single family home sold in July 2011 through the VIREB MLS system was $344,783, up one per cent from the $342,982 posted in July 2010, and almost mirroring June 2011’s $343,422.
“We are continuing to see stable market conditions, but as the selection of homes increases it is important that sellers price their home competitively, said VIREB president Jim Stewart.
There were 785 single family homes listed in July, bringing the active single family homes available through VIREB 3,239 up from 3,094 this time last year.
For the 12-month period from the end of July 2010 to July 2011, average sale prices across VIREB’s six zones saw: Campbell River down 3 % (to $293,370), the Comox Valley up 1% (to $351,959), Nanaimo was down 7% (to $354,077), Parksville/Qualicum was up 4% (to $393,230), Port Alberni slipped 13% (to $219,759) and the Cowichan Valley jumped 7% (to $351,725).
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