Increase in unit sales and average prices are also on the rise!
Vancouver Island Real Estate Board (VIREB) for May 2010, indicates there has been both an increase in unit sales across the board region and that average prices are also on the rise.
The average sale price across the VIREB region jumped to $362,538 at the end of May 2010. That’s up 4% from the $348,524 just one month ago and up 12% from the $323,521 of last year.
Jim Stewart, VIREB President-Elect says, “We should be aware that the market was significantly lower in 2009. Compared to 2008, numbers are close to or slightly lower than this year.”
Both single family unit sales volumes and listings across VIREB were up as well. There were 456 residential unit sales for May 2010, up 2% from the 445 posted in May 2009 and 942 homes were listed last month, up 16% from the 808 listed in May 2009. Meanwhile, active listings of residential property for sale are currently at 3,004 across the board, up 4% from last year.