Happy New Year! It has become a New Year’s tradition that I lock myself in my office on the morning of January 1st and pore over the MLS statistics for the Port Alberni and Sproat Lake real estate markets. The result is the first addition of The Fenton Report for 2019. In the report, we go over: the stats for single family homes sales in the greater Alberni Valley; waterfront home stats for Sproat Lake; City of Port Alberni building lot stats; the over-under listing price stats; and historical MLS stats for the greater Alberni Valley.
Here is an overview of the report. A complete version of The Fenton Report is available in a PDF version. I hope you have a healthy, happy and prosperous 2019!
Overall, the number of sales in the greater Alberni Valley was down for 2018 when compared to the previous year. The number of single family homes sold in the Alberni Valley (Port Alberni, Sproat Lake, Cherry Creek, and Beaver Creek) was down 27% over the previous year. It is worth noting that the previous year set an all-time Alberni Valley record for homes sold in a year. The average sale price for single family homes in the Alberni Valley in 2018 was itself the highest in history. At Sproat Lake, both the average sale price and median sale price were up significantly from the previous year. Statistically, bare land sales were down when compared to last year; however it is important to note that there was an entire City of Port Alberni subdivision in which the sales did not report on the MLS and therefore were not recorded for statistical purposes. The average price per sq.ft. for City of Port Alberni lots increased to $7.95/sq.ft. from $7.60 /sq.ft the previous year.