PCAG Blog

Monthly market statistics published by the Vancouver Island Real Estate Board (VIREB) for this area includes, not only Port Alberni but, Tofino, Ucluelet and Bamfield. Transactions in these smaller sub-markets on the west coast tend to be fewer and much higher due to a larger component of high value ocean front and view properties. One or two transactions in these smaller sub-markets can significantly skew the overall picture for the Port Alberni market.

Here at PCAG Property Advisors Inc., we compile and analyze our own market statistics based on data from VIREB that includes transactions within the City of Port Alberni only and excludes waterfront and manufactured homes. This gives us a much clearer picture of actual trends in the Port Alberni market on its own.

According to our statistics, the average price slipped another 2.9% in December to $197,000. This represent an overall 11% drop in the average price year over year.

Inventory levels remained steady at 220 active listings from the previous month but up 40% from the previous year. Sales volume also remained steady from the previous month at 8 sales but this is still down significantly from the previous year at 17 sales, or a 53% decline.