Alberni Valley Real Estate Update - September 2018

Posted by Chris Fenton on Monday, October 15th, 2018 at 4:20pm.

What an incredibly beautiful fall we're having! I'm not sure I ever remember a fall quite this warm and sunny. One of my favourite thing about the fall is that it is a time of change, and while every season is a time of change, the changes we see in the fall are dramatic. There is nothing like driving by Cameron Lake when the leaves have all changed colour!

Port Alberni Real Estate Market Update - October 2018

Just like the weather, the real estate market changes in the fall. It's a time when there are a few less transactions each month, but far fewer listings. For this reason I have long held the belief that the fall is the best time of year to sell a home. This year however, even the fall market is changing from years past. The number of sales is down dramatically, and the number of new listings coming on the market has increased. There is no doubt in my mind that the real estate market is changing, changing in a cycle that is measured in years, not seasons. We're heading into a more balanced market than we've seen in years. Supply and demand and balancing out. It's not up to me to decide if this is good or bad, but it is time.

Let's take a look at the real estate stats for September:

  September 2018 September 2017
Units Listed   28  42
Units Sold  16  42 
 Avg. List $ $278,286  263,316 
Avg. Sale $  $266,775  255,044 
Median Sale $  $280,000  245,000 
Avg. Days on Market  60  38 

Thanks for reading - I'd love to answer any questions or receive any comments you may have.

Chris Fenton, BCom
The Fenton Team

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