In last month’s real estate market update for Port Alberni we looked at the year-to-date stats. At first glance they painted an alarming picture with single family homes sales down to 32 on the year, compared to 75 for the same time period in the previous year. I’m happy to say that in the month since the last real estate market update, we’ve witnessed a marked increase in sales activity. Let’s take a look at the stats:

 

Year-to-Date* 2019

Year-to-Date* 2018

Listed

133

138

Sold

68

104

Avg. Sale Price

$321,776

$345,281

Median Sale Price

$305,000

$306,000

Avg. Days on Market

48

44

As you can see, the number of new Listings on the market is relatively stable, as is Median Sale Price and Average Days on the Market. Meanwhile the sales are down 26%. This continues the trend that I expect to see throughout 2019 – a move from a strong Seller’s Market, to a more healthy Balanced Market.

2019 is shaping up to be a very healthy year in real estate! If you have any questions about the real estate market please leave me a comment and I'll do my best to give you a good answer. ~Chris Fenton

*Year-to-Date is January 1 to April 15. The MLS stats are provided by the Vancouver Island Real Estate Board and include all single family homes sold on the MLS market in the greater Alberni Valley (excluding waterfront homes).