The Alberni real estate market continues to churn.
Prices last month remained up from the previous March, but dipped slightly from the month before.
Real estate analysts say the mortgage stress test is keeping millennials from entering the housing market, and also putting a chill on high-end property sales.
According to the Vancouver Island Real Estate Board, all areas of BC are transitioning from a seller’s to a balanced market, giving buyers more room to negotiate, and forcing sellers to curb their expectations.
In Port Alberni the benchmark price for a single-family home still hovers around the $300,000 mark, well under the $500,000 island average.
