Vancouver Island Real Estate Board president Kevin Reid says house sales have rebounded from the Covid-19 dip, and the quick recovery is being fueled by low interest rates and supply shortages.
45 homes sold in the Port Alberni / West Coast market last month, up from 40 in June but unchanged from July of last year.
Benchmark home prices however increased by 7.2% – the second biggest jump in the VIREB region behind only Comox at 7.7%
According to MLS the average price in our area has now eclipsed the $400,000 mark.
Reid said he’s cautiously optimistic the turnaround will last.
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