We have just come off the busiest December on record, with sales in the Vancouver Island Real Estate Board returning to somewhat normal levels in January. Last month, 290 single-family homes sold on the Multiple Listing Service® (MLS®) compared to 327 in December and 244 one year ago. Inventory of single-family homes dropped to 749 in January, a 16 per cent decrease from one year ago and a new low for the VIREB (Vancouver Island Real Estate Board) area. The number of apartments changing hands in January rose by 65 per cent with the supply of apartments and townhouses dipping by 19 per cent and 30 per cent respectively.
The news has been flooded with articles regarding the 2018 BC Budget changes and people talking about how these changes will affect Real Estate for both Buyers and Sellers. We have broken these changes down to explain how they will affect the Central Vancouver Island Real Estate Market.
With Family Day just around the corner and sunny days soon approaching on the West Coast (hopefully), it’s time to start making plans for the upcoming long weekend.
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