The local real estate market is already bouncing back with the gradual lifting of pandemic restrictions.
According to the latest stats from the Vancouver Island Real Estate Boiard, Alberni leads the island markets with a 6% increase in single family home prices.
Chris Fenton – team leader for the Fenton Team at Royal Lepage says they’re definitely seeing an increase in activity.
“What we’re seeing in the market is that in the last three weeks to a month it’s gotten really, really busy,” he said. “The last four or five houses I put on the market all had offers, and some of them multiple offers, within a week. After a very,very slow period it’s definitely back to normal for the time being.”
Fenton said there are more opportunities to go house shopping online, and some homes have sold from virtual viewings.
VIREB analysts predict low interest rates and pent-up demand will translate to a significant recovery in home sales and prices.
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