Local real estate sales slowed slightly in July, but prices still increased by more than 40%
38 homes sold in July compared to 49 in June and 46 in July of last year.
Average sale price rose to $576,000 from $503,000 the month before.
According to Vancouver Island Real Estate Board, housing inventory is at a 21 year low, and new housing construction is desperately needed.
According to VIREB statistics, if you bought a home in Port Alberni five years ago, that property has probably more than doubled in value.
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