PCAG Blog

Inside the municipal boundaries of the City of Port Alberni sales volumes dropped significantly to 6 transactions, the lowest monthly sales volume since January 2003. In the meantime properties actively listed for sale in the month of November has trended higher to 225 listings on the Vancouver Island Multiple Listing Service compared to 158 the previous year.

Absorption rates (the number of months to sell the current inventory of active listings at the current sales volume) has been trending higher to 30 months up from 11 months the previous year.

This development signifies a significant shift in the supply and demand dynamics of the Port Alberni real estate market.

As a result of slower sales and growing inventory levels the average selling price (based on a 3 month rolling average) has been trending lower, now at $202,000 down from the peak of the market a year earlier at $218,000, a decline of approximately 7.5% year over year.

Homeowners need an appraisal for a variety of reasons, including a mortgage refinance, pre-listing services, income tax or estate planning purposes. Or, maybe you're just concerned about the equity in your home.

When you order a market value appraisal from us, you can be rest assured that you will get the best in professional, independent, unbiased and technically advanced service in the Alberni Valley and the central west coast of Vancouver Island.