Brians Blog

NANAIMO, BC – Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for April 2008, shows average sale price increases and a smaller drop in unit sales volume.

The average sale price across the VIREB region for April 2008 was $359,152. This is a 12 per cent increase from the $320,934 posted at the end of April 2007. President Subhadra Ghose says it is an active spring market. “It is a healthy, balanced market with solid inventories of properties for sale.”

Unit sales volume jumped significantly from the end of March 2008, but dropped approximately 12% for the 12-month period from April 2007 to April 2008.

For the period from the end of April 2007 to April 2008, average sale prices across VIREB's six zones increased: Campbell River increased 9 per cent (to $320,148), the Comox Valley was up 8 per cent (at $351,631), Nanaimo is up 15 per cent (to $373,134), Parksville/Qualicum grew 12 per cent (to $430,542), Port Alberni increased 26 per cent (to $256,081) and the Cowichan Valley increased 14 per cent (to $382,792).

Ghose says with the active spring market conditions well underway, she remains cautiously optimistic about continuing increases through the rest of the year. “I think we’ll be seeing single digit increases throughout the rest of 2008,” she says, noting the Central Vancouver Island region remains substantially more affordable than Victoria and Vancouver.

“Consumer confidence in BC remains high. Low interest rates are helping, especially first time buyers. 40-year amortization mortgages and 100% investment property financing are also providing options to the marketplace,” Ghose says.

“Proper pricing continues to be key in this marketplace. That is why using a REALTOR® is so important, because they have their finger on the pulse of the housing market. Consumers should contact their REALTOR ® if they are considering buying or selling a home.”
 

 

 
Van Island REALTORS® report Nov increases                                            December 7, 2007
 

NANAIMO, BC – Multiple Listing Service® (MLS®) sales summary data released by the Vancouver IslandReal Estate Board (VIREB) for the 12-month period ending November 2007 shows sales volume andaverage sale prices increasing.

The average sale price across the VIREB region for November 2007 was $338,877. This is a 17 per centincrease from the $290,242 posted at the end of November 2006.

Unit sales increased by 3 per cent from the end of November 2006.

VIREB President Jennifer Lynch says market momentum is continuing. “For the last eight months in a row,overall monthly sales volume has increased from the same month in the previous year. The increase in salesvolume has also stimulated a solid price appreciation in all areas throughout the Board,” she says.

Average sale prices across VIREB's six zones, from November 2006 to the end of November 2007:Campbell River was up 12 per cent (to $307,328), the Comox Valley increased 24 per cent (at $342,519),Nanaimo is up 18 per cent (to $364,163), Parksville/Qualicum increased 16 per cent (to $370,691), PortAlberni/West Coast increased 11 per cent (to $220,120) and the Cowichan Valley increased 17 per cent (to$373,120).

Lynch says all of the economic conditions remain in place for a strong housing market heading into the NewYear.

“Consumer confidence remains high. We’re seeing low unemployment rates, a cut in the GST for the NewYear and historically low mortgage rates set against the relatively affordable housing prices of our boardarea,” she says.

“Now is a great time to use a professional REALTOR®, who can also advise on neighbourhood specifictrends and amenities, eye-catching improvements you can make to enhance ‘curb appeal’ and whichspecialists you need for repairs, financing and legal services.”

VIREB represents approximately 1,160 licensed REALTOR® members in more than 85 member offices onVancouver Island (north of Victoria).

VIREB cautions that average price information can be useful in establishing trends over time, but does notindicate the actual prices in centers comprised of widely divergent neighborhoods or account for pricedifferential between geographic areas.

REALTOR® is a trademark identifying real estate professionals who are members of the Canadian RealEstate Association (CREA). REALTORS® subscribe to a Code of Ethics and Standards of BusinessPractices as set out by CREA. MLS® is a cooperative marketing system used by Canada’s real estate boards.
 

 
Van Island REALTORS® September Sales Summary                                            October 4, 2007
 

Vancouver Island Real Estate Board (VIREB) for May 2007 shows steady hikes in sales volume and average sale prices.

The average sale price across the VIREB region for May 2007 was $329,053. This is a 14 per cent increase from the $288,250 posted at the end of May 2006. Unit volume increased over 9 per cent from the end of May 2006 and is up over 20% from the end of April 2007.

VIREB President Jennifer Lynch says housing demand is strong.“On Vancouver Island, as throughout much of BC strong consumer confidence, along with the fundamental factors such as high employment levels, income gains, affordable interest rates, and favorable economic conditions fuelled home buying activity continue to pressure average house prices to rise substantially,” she says.

May 2007 unit sales volumes were up in all but one of VIREB’s six zones.

Average sale prices across VIREB's six zones, from May 2006 to the end of May 2007: Campbell River was even ($281,640), the Comox Valley increased 9 per cent (at $342,647), Nanaimo is up 17 per cent (to $345,962), Parksville/Qualicum increased 18 per cent (to $373,567), Port Alberni increased 8 per cent (to $203,666) and Duncan's increased 12 per cent (to $347,678).

Lynch says market confidence shared by both buyers and sellers alike is good news. “We have seen an increase in available inventory this year, which indicates a buyers market. However, we have also seen an increase in the average sales price and number of transactions, which contradicts the former, and suggests a sellers market,” she says.

“With both of these conditions happening simultaneously we’re in a balanced market.”

Lynch says investor interest in the VIREB region remains strong, and affordability is always an important advantage.

“Those looking for an investment need look no further as the average sales price of homes sold in the VIREB region rose 14 percent, from May 2006. That’s good news,” she says.

“While affordability issues remain at the forefront for first time buyers, there is a silver lining. Housing throughout the board area is still affordable compared to Victoria’s average sales price reaching $575,000, and Vancouver’s as average sale prices hover around $700,000.”

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for March 2007 shows continuing month to month increases in volume and average sale prices.

The average sale price across the VIREB region for March 2007 was $312,862. This is an 8 per cent increase from the $288,475 posted at the end of March 2006. Unit volume increased 13 per cent from February 2007, and was off 5 per cent for the 12 month period back to the end of March 2006.

VIREB President Jennifer Lynch says the market is doing well.

"Traditionally, the real estate market on Vancouver Island experiences a surge in activity every year in the spring. This year is no exception. We saw a surge in February and it kept growing through March."

March 2007 unit sales volumes were up 13 per cent from the end of the previous month and up in all of VIREB's six zones.

Average sale prices across VIREB's six zones, from March 2006 to the end of March 2007: Campbell River stayed the same ($281,293), the Comox Valley was up 8 per cent (at $310,353), Nanaimo is up 8 per cent (to $328,773), Parksville/Qualicum increased 7 per cent (to $355,301), Port Alberni increased 17 per cent (to $199,653) and Duncan's increased 12 per cent (to $346,508).

Lynch says a wider inventory is continuing to create buyer's market conditions, although she stresses things overall are much more balanced.

"Price increases have become a reality in the marketplace. Buyers are still motivated. For first time buyers, they are finding the means necessary to enter the market," she says.

"Consumer confidence remains high with a combination of low interest rates, price increases and a solid economy."

Lynch says affordability remains a good draw for the VIREB region, with the average sale price in Victoria over $542,000, and Vancouver over $660,000.

Lynch says the market should continue to be active, balanced and sustainable throughout the year.

VIREB represents approximately 1,122 licensed REALTOR® members in more than 80 member offices on Vancouver Island (north of Victoria).

REALTORS report robust market in February                                       March 2, 2007

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for February 2007, shows an increase in volume while average sale prices also rose.

The average sale price across the VIREB region for February 2007 was $297,189. This is a 14 per cent increase from the $260,112 posted at the end of February 2006. Unit volume increased from January 2007, and was the same for the 12 month period back to the end of February 2006.

VIREB President Jennifer Lynch says the market is performing as expected.

"We saw a surge in activity in February, brought on by more listing inventory. Homeowners and REALTORS® are gearing up for a busy spring in a robust market."February 2007 unit sales volumes were up 26% from the end of the previous month. Out of VIREB's 6 zones, only Port Alberni showed a small volume decline from the end of January 2007.

Average sale prices across VIREB's six zones, from February 2006 to the end of February 2007: Campbell River increased 6 per cent (to $263,522), the Comox Valley was up 2 per cent (at $292,296), Nanaimo is up 14 per cent (to $305,599), Parksville/Qualicum increased 25 per cent (to $352,203), Port Alberni increased 54 per cent (to $227,660) and Duncan's increased 15 per cent (to $306,520).

Lynch says spring is traditionally the busiest time of year.

"Our communities continue to enjoy a healthy housing market, thanks to a strong local economies, employment growth, and increased demand," she says.

"A plethora of mortgage products, along with the continuation of great finance rates, allow individuals more flexibility and opportunities to gain access into the market."

The overall affordability of the VIREB region, compared to Vancouver and Victoria, continues to drive sales.

"Affordability is a huge story for us. With the average sale price in Victoria over $500,000, and Vancouver over $640,000, our area looks pretty good at just under $300,000," Lynch explains, noting enquiries about the region continue to come in from all over Canada.

Additionally, the recent 2007 BC Budget announcement contained several important housing announcements, some of which will have a significant impact on the real estate industry.

"Look at the enhancement of the First Time Home Buyers' Program. The ceiling is being increased to exempt first-time buyers across British Columbia from paying the Property Transfer Tax on homes valued up to $375,000, - which will save first-time buyers up to $5,500."

Lynch says the market should continue to be active, balanced and sustainable throughout the year.

Realtors report increases in January                                       Feb 5, 2007

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for January 2007, shows an increase in volume while average sale prices continued to rise.

The average sale price across the VIREB region for January was $278,474. This is a 12 per cent increase from the $246,475 posted at the end of January 2006, while unit volume for the same period increased 7 per cent.

VIREB President Jennifer Lynch says it is positive to see both unit sales and average sale prices up for this period.

"We are heading into the busier market season, as a result sales are up from where they were in December. This is a good sign for the year," she says.

Unit sales volumes in January 2007 were up in most of VIREB's 6 zones, increasing overall by 7 per cent from January 2006. Only the Comox Valley and Duncan showed slight declines.

Average sale prices across VIREB's six zones, from January 2006 to the end of January 2007: Campbell River increased 11 per cent (to $251,808), the Comox Valley was up 13 per cent (at $291,832), Nanaimo is up 21 per cent (to $308,775), Parksville/Qualicum slipped slightly by 2 per cent (to $296,696), Port Alberni increased 14 per cent (to $178,883) and Duncan's increased 15 per cent (to $292,685).

Lynch says solid consumer confidence, low interest rates and listings, all play a key role in increasing the number of potential buyers.

"The past few months there has been movement back and forth between buyers and sellers trying to determine whether it was a 'Buyer's market' or a 'Seller's market' that we were in at any given point.

"Buyers saw inventory coming on the market, and not disappearing as readily as before. Sellers maintained that the market was continuing in a 'Sellers market'," she says.

"However, Buyers should be re-assured that the prices are increasing at a slower pace, and there is still a good selection of inventory. The market will likely continue to be transitional, finding more of equilibrium between a 'Buyers' and 'Sellers' market.

"Enquiries continue to come in globally," Lynch says. "However the bulk of these enquiries still come from within Canada, and on Vancouver Island we are particularly benefiting from the spillover effects from Alberta's economic boom."

Values trend continues upward, volume down                           December 5, 2006

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for November 2006, shows volume declines continuing while prices continue to go up.

The average sale price across the VIREB region for November 2006 was $293,048. This is a 9 per cent increase from the $266,954 posted at the end of November 2005, and a small decline from October 2006.

Unit sales volumes in November 2006 were down across the VIREB region by just over 5 per cent from November 2005.

VIREB President Darrell Paysen says it remains a more balanced and sustainable market.

"We're back to what we consider normal. We're continuing to see an upward trend in prices while unit volume is down," Paysen says. "There is less sense of urgency because of the greater available inventory of properties and we're now into the traditional slow down around the festive season."

Average sale prices across VIREB's six zones, from November 2005 to November 2006: Campbell River increased 15 per cent (to $273,898), the Comox Valley was up 11 per cent (at $282,344), Nanaimo is up 7 per cent (to $311,417), Parksville/Qualicum grew 3 per cent (to $323,975), Port Alberni increased 5 per cent (to $199,661) and Duncan's increased 16 per cent (to $321,847).

"The market has corrected and shifted away from a straight seller's market. What we're seeing now is opportunities for both sellers and buyers who are realistic in their expectations," Paysen explains.

"With more selection to choose from, Buyers are looking for very specific things," he says. "It's very important that Sellers work with their REALTOR®, in order for properties to be right priced and buyers need to make their best offers."

Paysen says the outlook for the New Year is for more of the same.

"We're continuing to anticipate price increases in the 5 to 10 per cent per annum range, and a leveling off away from the record pace of the last few years," he says. "It will continue to be an active, sustainable market.

Values up in October, volume down                           November 2, 2006

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for October 2006, shows average selling values rising and sales volumes declining from the previous month.

The average sale price across the VIREB region for October 2006 was $301,508. This is a 12 per cent increase from the $266,950 posted at the end of October 2005, and a small decline from September 2006.

While unit sales volumes in October 2006 were up in half of the VIREB Zones (Comox Valley, Duncan and Nanaimo) from the previous month (September 2006), they were down overall 17 per cent from October 2005.

VIREB President Darrell Paysen says the market is returning to more normal levels. "The current levels are much more sustainable overall and it what's we've been calling for," he says, noting October was very busy.

"There is more inventory than last year, so Buyers are able to take more time make their decisions. We're continuing to call for more modest price increases in the coming years."

Average sale prices across VIREB's six zones, from October 2005 to October 2006: Campbell River increased 12 per cent (to $264,422), the Comox Valley was up 12 per cent (at $300,010), Nanaimo is up 6 per cent (to $305,339), Parksville/Qualicum grew 6 per cent (to $349,110), Port Alberni increased 50 per cent (to $218,614) and Duncan's increased 21 per cent (to $323,850).

Paysen continues: "Here in BC, the gross domestic product is up and there are tons of jobs. More and more people are coming from other parts of the country and overseas, and economic momentum is very high.

"With more selection to choose from, Buyers are looking for very specific things," he says. "It's very important that Sellers work with their REALTOR®, in order for properties to be right priced and buyers need to make their best offers."

Recently, top travel magazine Conde Nast recognized Vancouver Island yet again and Paysen says this is a good sign for local market activity.

"For the 7th year in a row, Vancouver Island was rated number one in the North American Island category. The magazine is known throughout the travel world, with a circulation of 750,000. For REALTORS® this means new people are discovering and coming to Vancouver Island all of the time."

Paysen says those same travelers frequently decide to invest and return as residents down the road.

Values stronger in September, volume down                           October 3, 2006

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for September 2006, shows average selling values rising and sales volumes declining from the previous month.

The average sale price across the VIREB region for September 2006 was $306,005. This is a 15 per cent increase from the $265,774 posted at the end of September 2005, and a small increase from August 2006 as well.

Unit sales volumes in September 2006 were down in all but one of the six VIREB zones from the previous month (August 2006).

VIREB President Darrell Paysen says the market remains active: "September was definitely busier than August. There are lots of buyers out there and things are settling into a more normal, sustainable market which we had been anticipating."

Average sale prices across VIREB's six zones, from September 2005 to September 2006: Campbell River increased 13 per cent (to $266,005), the Comox Valley was up 17 per cent (at $304,961), Nanaimo is up 17 per cent (to $330,431), Parksville/Qualicum grew 11 per cent (to $357,014), Port Alberni increased 37 per cent (to $202,241) and Duncan's increased 18 per cent (to $334,572).

"If ever there was a time to work with your local REALTOR®, it would be now as market conditions are adjusting," says Paysen.

"With more selection to choose from, Buyers are looking for very specific things. It's very important that Sellers work with their REALTOR®, in order for properties to be right priced and buyers need to make their best offers."

Paysen and several other members of the VIREB Board have just returned from national association meetings in Halifax. "We attended several sessions on demographics and we're already seeing the start of baby boomers retiring in large numbers.

"One expert talked about the boomers weren't retiring, but simply making a lifestyle change to become active retirees. They want to golf, boat and hike and not just sit in the easy chair and that's what brings many of them to Vancouver Island."

Values climbing slowly, volume up slightly in August                           September 5, 2006

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for August 2006, shows average selling values rising slowly and sales volumes increasing slightly from the previous month.

The average sale price across the VIREB region for August 2006 was $297,128. This is an 11 per cent increase from the $267,003 posted at the end of August 2005, but a slight decline from the figure at the end July 2006.

Unit sales volumes in August 2006 increased in most of the 6 VIREB zones from the previous month (July 2006), but were down just under 20 per cent from the end of August 2005.

VIREB President Darrell Paysen says the market is slowly adjusting as has been anticipated.

Average sale prices across VIREB's six zones, from August 2005 to August 2006: Campbell River increased 11 per cent (to $266,419), the Comox Valley was level at 0 per cent (at $277,704), Nanaimo is up 15 per cent (to $322,120), Parksville/Qualicum grew three per cent (to $350,646), Port Alberni increased 17 per cent (to $209,587) and Duncan's increased 13 per cent (to $305,839).

"The market adjustments on pricing are more reflective of the market values, and not prices falling," she says. "This is good news for buyers as it means more selection to choose from."

Nanaimo VIREB director Ken Westfall says the inventory load could help push the market.

Marty Douglas, VIREB director in the Comox Valley, says the market remains strong. "While our zone stats show fewer sales than last year, this year is the silver medalist in the past 6 years," he says.

In Campbell River, VIREB director Dan Samson says the retirement flow into the market continues. "Nearly 40% of our sales are now going to retirees with the strata purchase becoming the first choice due to lifestyle choices," he says, noting new construction strata's sold on a 'project' basis are not always reflected in MLS® statistics.

Fellow Campbell River director Karol Power says the amount of email from out of town buyers is still very strong. "In the past week showings have been up considerably," noting the first time buyer sector is growing.

Paysen points to a recent TD Bank economic report that noted conditions that are leading to a possible decline in US real estate activity are not present in Canada.

"These economists are expressing continuing confidence in the Canadian real estate industry which is very encouraging," Paysen explains, noting the key for consumers remains working with a professional REALTOR® who is an expert in local market conditions.

Adds Douglas: "Sellers should price their homes realistically and buyers should make their best offer."

Real estate values up, volume slows in July                                           August 2, 2006

NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for July 2006, shows values still rising with a slight leveling off of sales volumes.

The average sale price across the VIREB region increased to $304,487 at the end of July 2006. That's up 16 per cent from the $260,328 posted 12 months earlier at the end of July 2005.

Unit sales volumes across the VIREB region, from July 2005 to July 2006, were down by nearly 20 per cent.

VIREB President Darrell Paysen says the market is slowly adjusting.

"With the release of our Buyer Profile in mid July, we know our region attracts a large number of buyers from the Lower Mainland, Victoria, Alberta and Ontario," Paysen outlines.

"The key reason continues to be affordability. The average price across the VIREB region continues to be substantially lower than Vancouver and Victoria by up to several hundred thousand dollars."

Paysen says working with a professional REALTOR® who understands local conditions and is tapped into regional business networks is vital to pricing properties accurately.

"If homes are priced too high, there have been some price reductions. However, homes priced at market value and ready to move-in have been selling quickly within a reasonable length of time," Paysen outlines.

Average sale prices across VIREB's six zones, from July 2005 to July 2006:Campbell River increased 31 per cent (to $298,617), the Comox Valley increased 22 per cent (to $310,637), Nanaimo is up 13 per cent (to $318,716), Parksville/Qualicum grew 11 per cent (to $349,829), Port Alberni increased 37 per cent (to $200,644) and Duncan's increased 17 per cent (to $310,086).

Paysen says VIREB continues to support the view of industry analysts and economists. "They're now saying that with interest rates having peaked and strong employment, resale housing activity is predicted to remain strong into 2007-2008."

Real estate volume and values jump in May                                           June 5, 2006

NANAIMO, BC - Multiple Listing Service® (MLS) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for May 2006, shows a large jump in unit sales from the previous month.

Unit sales volumes across VIREB, from April 2006 to May 2006, jumped 26.3 per cent. Sales were up 6.6 per cent from May 2005 to May 2006 with most VIREB zones posting volume increases.

The average sale price across the VIREB region increased to $295,108 at the end of May 2006. That's up 19 per cent from the $247,794 posted 12 months earlier at the end of May 2005.

VIREB President Darrel Paysen says the market has adjusted to the small hike in interest rates.

"There had been some thought that the hike may make the market a little antsy. We haven't seen that at all," Paysen reports. "In fact, unit sales and average sale prices have continued there upward trend.

"Look at a new study just released by Scotiabank. It shows that Canadians continue to favor home ownership over renting despite rising home prices and 30 per cent of renters are planning to buy in the next 3 years," he says.

The VIREB MLS® summary shows there were 600 single family sales in May 2006, up from 563 in May 2005 (a 6 per cent increase). The single family inventory at the end of May was 1,879 as compared to 1,548 at the end of May 2005 (an increase of 21 per cent). Average days to sell declined slightly to 48.

Paysen says many VIREB buyers are coming into the area because of much higher prices in Vancouver, Victoria and now Calgary. "At the end of April, the average sale price for a single-family detached home in Greater Vancouver was $807,000. It was $512,000 in Greater Victoria and $357,000 in Greater Calgary."

Average sale prices across VIREB's six zones, from May 2005 to May 2006: Campbell River increased 21 per cent (to $284,331), the Comox Valley increased 23 per cent (to $315,497), Nanaimo is up 16 per cent (to $297,152), Parksville/Qualicum grew 9 per cent (to $329,519), Port Alberni increased 27 per cent (to $192,958) and Duncan's increased 14 per cent (to $309,317).

Paysen says increasing prices continues to make housing affordability an issue.
"That's why organized real estate sent 53 representatives to the recent Premier's Dinner in Vancouver. We were one of the largest groups there, and we did the same thing for the Leader of the Opposition's dinner in April," he says.

Paysen says this part of the Quality of Life philosophy adopted by REALTORS® in BC. "VIREB supports growth that encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods."

Real estate reports hikes continue through April                                          May 2, 2006

NANAIMO, BC - Multiple Listing Service® (MLS) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for April 2006, shows a small decline in unit sales across the board region while average prices keep rising.

The average sale price across the VIREB region jumped to $291,822 at the end of April 2006. That's up 20 per cent from the $242,375 posted 12 months earlier at the end of April 2005.

Unit sales volumes across VIREB, from April 2005 to April 2006, dropped 16 per cent.

"We've been saying all year that we expected things to start to cool a tiny bit as we headed into the second half of 2006," explains VIREB President Darrell Paysen. "Volume is down a bit, but the average sale prices continue to increase.

"I think we're starting to see more balanced conditions returning to the marketplace," he says. "We agree with the Canadian Real Estate Association and the BC Real Estate Association, who have been calling for a slight leveling off in 2006, even though it is still predicted to be the 2nd busiest year on record after the 2005 record year."

VIREB represents approximately 1,020 licensed REALTOR® members in more than 80 member offices on Vancouver Island (north of Victoria).

Paysen says the first question the media have been tending to ask him is if this is the start of the bubble bursting.

"I tell them absolutely not. As I've been saying all along, there isn't a bubble. BC consumers remain confident in their economy, which is reflected in the strength of the real estate market," Paysen outlines.

Average sale prices, from April 2005 to April 2006: Campbell River increased 19 per cent (to $253,207), Comox Valley increased 26 per cent (to $294,468), Nanaimo is up 18 per cent (to $303,420), Parksville/Qualicum grew 19 per cent (to $347,395), Port Alberni increased 32 per cent (to $184,859) and Duncan's increased 18 per cent (to $309,419).

Hope you had a great Easter everyone !                                                      April 14 , 2006

Real estate in Parksville /Qualicum area is still very active .

News release from Vancouver Island real estate board April 5 , 2006 :

At the end of March 2006 , total unit sales were up just over 1% from almost 29 % from a month earlier in February 2006. The average sale price for the total area increased 26% from march 2005 and increased 4.5% in just the last month alone .

“Overall , at the local levels , I think people are happy and confident . My feeling continues that buyers and sellers aren’t too worried about recent small interest rate hikes . “

With the exception of Campbell River , unit sales for March 2006 increased in every area from the previous month of Feb 2006 . The largest gain was in Parksville/Qualicum posting a 50% unit sales increase from Feb 2006 .

I look forward to serving all your real estate requirements and answering any questions you might have .

DID YOU KNOW:

- MANY OF MY CLIENTS ARE FROM ALBERTA AND PURCHASING FOR THEIR RETIREMENT IN A COUPLE OF YEARS

Please keep me in mind if you know of anyone thinking of buying or selling.