Real estate sales are red-hot

Over the past year, Campbell River has boasted some of the best numbers on Upper Vancouver Island

Some of the hottest real estate activity on the Island is happening right here in Campbell River.

According to the Aug. 1, report from the Vancouver Island Real Estate Board, Campbell River sales increased by 87 per cent in the last year.

“There are a number of projects underway in the Campbell River area, and it seems this construction activity is directly contributing to the growth in their housing market,” said board president Gary Gray. “This is a good example of what economic drivers can do to the market.”

Multiple Listing Service data for July shows housing sales activity across Vancouver Island was up 12 per cent compared to last year, while average sale prices remained relatively stable.

Comparing July 2013 to July 2012, the average sale prices across six geographic areas saw: Campbell River remain virtually unchanged with average sales price listed at $296,789; Comox Valley up one per cent to $347,954; Nanaimo also went up one per cent to $362,918; Parksville/Qualicum prices remained relatively unchanged at $376,060; Port Alberni/West Coast increased by nine per cent to $250,910, while the Cowichan Valley was down two per cent to $327,410.