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Happy Holidays From Vancouver Island!

Sending you warm wishes for health & happiness in 2016!

We invite you to explore our comprehensive Vancouver Island resource and full-service search portal. Please have a look around, ask questions, and bookmark us as your key source of expert Vancouver Island real estate information & inspiration. 

Real Estate Market Update


Vancouver Island

351 single family homes sold. Avg. price $357,076 (up 4% 12 months to date, this year over last). 16 waterfront homes sold, 24 lots sold & 130 condos sold. Single family unit sales volume is up 14%. Average days on market has decreased by 9% to 63 days. The average condo sells for $239,622. Condo unit sales are up 26%, 12 months to date. Condos have seen an 11% decrease in days on market. Average days to sell is 90 days. Lot sales volume is up 5%, 12 months to date. Lot prices have increased by 7%, 12 months to date. Average lot sale price is $148,910. Most active region: Nanaimo; Highest average price: Parksville/Qualicum.


Nanaimo

108 single family homes sold. Avg. price $390,533 (up 6% 12 months to date, this year over last). 4 waterfront homes sold, 6 lots sold & 39 condos sold. Single family unit sales volume is up 20% 12 months to date. Average days on market has decreased by 13% to 42 days. The average condo sells for $251,669. Condo unit sales are up an average of 18% 12 months to date. Condos have seen a 20% decrease in days on market. Average days to sell is 66 days. Lot sales volume is down 9%, 12 months to date. Lot prices have decreased by 3%, 12 months to date. Average lot sale price is $160,586. Most active region: North Nanaimo; Highest average price: Upper Lantzville. 
 

Parksville/Qualicum

54 single family homes sold. Avg. price $405,815 (3% 12 months to date, this year over last). 3 waterfront homes sold, 3 lots sold & 17 condos sold. Single family unit sales volume is up 20%, 12 months to date. Average days on market has decreased by 15% to 51 days. The average condo sells for $276,335. Condo unit sales are up 35%, 12 months to date. Apartments have seen the greatest increase in units reported sold. Condos have seen an 18% decrease in days on market. Average days to sell is 68 days. Lot sales volume is up 74%. Lot prices have increased by 20%, 12 months to date. Average lot sale price is $188,309. Most active region: Parksville; Highest average price: Fairwinds.


Cowichan

60 single family homes sold. Avg. price $356,960 (up 6%, 12 months to date, this year over last.) 3 waterfront homes sold, 3 lots sold & 19 condos sold. Single family unit sales volume is up 8%. Average days on market has decreased by 8% to 69 days. The average condo sells for $219,025. Condo unit sales are up 34%, 12 months to date. Condos have seen a 19% decrease in days on market. Average days to sell is 93 days. Lot sales volume has decreased by 4%, 12 months to date. Lot prices have decreased by 3%, 12 months to date. Average lot sale price is $127,184. Most active region: Ladysmith; Highest average price: Mill Bay.


Province Announces $100M Tech Venture Capital Fund


photo credit: The Northern Correspondent

 

The first component of Christy Clark’s highly anticipated innovation strategy was recently unveiled. The $100 Million B.C. Tech Fund will fuel the growth of startup tech companies that have demonstrated global relevance and established traction in the marketplace. This is particularly exciting news for the central Vancouver Island region, where tech startups are becoming a significant component of the economy. Although competition for funding will be fierce, for those companies selected the investment is expected to be game-changer that will enable local startups to successfully take on their well-funded international competitors. Currently employing more than 86,000 people in B.C. with wages 60% higher than B.C.’s industrial average, the technology industry is growing faster than the economy as a whole. In 2013 alone, high tech contributed $13.9 Billion to the gross domestic product.

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