Due to limited inventory in this market, you may be faced with challenges of finding the right home by entering into a multiple offer situation. Multiple offers on accurately priced homes are continuing to be the norm rather than the exception.
This condition has helped to bolster the prices substantially. For example:
Nanaimo the benchmark price of a single family home rose 15.80 % to $413,500.
Parksville - Qualicum area saw its benchmark price rise by 17% to $443,500.
Port Alberni is still the least expensive area to buy a home the benchmark was $209,500, still it is up nine percent from one year ago,
Campbell River area was $304,200, an increase of 10.41 percent over August 2015.
In the Comox Valley, the benchmark price was $380,200, up 12 percent from 2015.
Duncan reported a benchmark price of $333,800, an increase of 11.30 percent compared to August 2015.
If you are looking to purchase on the Island, I can help you find a good home. I have a team of Associate Realtors that I can count on to assist in areas that I may not be too familiar with.
A bit about me, I have lived on the Island in various communities from Victoria, Mill Bay, Duncan, Chemainus, Qualicum, Port Alberni and 30 years now in Nanaimo in my lifetime. I've been a full time realtor for 28 years in Nanaimo, I have sold homes from Victoria to Port Alberni and places in between including some of the Gulf Islands.
Let me be your Real Estate Coach, feel free to use my knowledge and expertise. I love helping buyers to purchase a good home in their price range. I look forward to continuing to help you in your search for the right home.
Call or text me on my cell anytime 250-740-0884 you may also leave a message for me at 1-800-738-8808.