Vancouver Island Housing Market Heating Up

Home sales on Vancouver Island were up 5 percent last month, from a year ago.

There were 424 sales of single-family homes sold in June - up 13 percent from May.

“We’re seeing smartly priced homes and measured offers compared to last year, when the fear of missing out created a frenetic market,” says Kelly O’Dwyer, 2023 Vancouver Island Real Estate Board Chair.

“It feels more reminiscent of a traditional pre-COVID spring.”

The Board says buyers and sellers are meeting in the middle, with reasonable expectations at either end.

The board says overall, it’s looking like a pretty normal summer market ahead.

In Campbell River, the benchmark price of a single-family home was $652,500 in June, down 9 percent from the previous year.

The Comox Valley’s year-over-year benchmark price dropped by 9 percent to $805,300.

For the North Island, the benchmark price of a single-family home decreased by 8 percent to $431,100.