The island real estate market is beginning to level-out according to members of the Vancouver Island Real Estate Board.
A 30% drop in the number of homes sold last month is believed to be a decrease in demand rather than oversupply.
In Port Alberni and the west coast region, the 33 homes sold last month was a 27% decrease from September of last year.
Average house prices continue to go up though, with an 18% year-over-year increase here, while average sale prices in Parksville-Qualicum and Comox actually dipped slightly.
According to MLS sales data, the average sale price in the Alberni Valley and west coast region has hit $375,000.
http://www.vireb.com/assets/uploads/09sep_18_vireb_sales_summary_media_release_64530.pdf
