NANAIMO – As is typical at this time of year single family residential housing sales across Vancouver Island declined in October, according to statistics released by the Vancouver Island Real Estate Board (VIREB) in its latest video podcast. VIREB President Elect Margo Hoffman reported that October housing sales were down eight percent in October from October 2014. On a month to month basis housing sales declined 14 percent in October when compared to September.
Hoffman also reported that over all housing inventory, the number of properties currently on the market was down 16 percent from a year ago. The average benchmark price of a home sold in the VIREB coverage area last month was pegged at $339,100. To learn more check out the full version of the VIREB video podcast.
