"Multiple offers are commonplace, which is frustrating for buyers and their agents. This dynamic has created significant upward pressure on home prices and created sellers' markets in many areas, including Vancouver Island."Consumer demand is high, and buyers are snapping up well-priced properties quickly once they hit the market," says McClintock of VIREB. The number of single-family homes for sale has steadily increased each month since VIREB hit a historic low of 859 in December 2016, but demand continues to exceed supply.The British Columbia Real Estate Association (BCREA) reports that the supply of homes for sale in the province has dropped to its lowest level in over a decade. Despite fewer units moving, however, lack of inventory means homes are selling faster and for more money.Inventory of single-family homes declined by 13 per cent from July 2016, with 1,367 active listings available last month compared to 1,575 one year ago. Please get in touch if you have any questions or comments regarding the articles, or real estate in general - it'd be great to hear from you!Your friends in Real Estate Rudi & Trish W.Vancouver Island Real Estate Market UpdateGetting Ready for FallPreparing for the Real Estate Roller Coaster RideDo-It-Yourself AppsVANCOUVER ISLAND REAL ESTATE MARKET UPDATE Low inventory and high demand creating brisk sellers' market.The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales dipped slightly in July, down to 558 from last year's 605, a decrease of eight per cent.Sales were also down by approximately 10 per cent from June, which saw 618 sales. Before the adventure our son Nick took Rudi golfing at Fairwinds,Nick shot 73 and we won't talk about Dad's score :) Then the two boys jumped off a perfectly good bridge south of Nanaimo, yes we bungy jumped - what a hoot! (and yes we both hooted & hollared!) The grandson & girls were smart & just watched!We hope you enjoy the balance of the summer and an expected great September as well.Thanks so much for checking out this month's newsletter. We would certainly consider doing this again and highly recommend the experience. Fish and Duck Houseboats were great to deal with. Source: Rudi Widdershoven-teamw | Parksville-qualicum Beach Real Estate Blog Rudi Widdershoven-teamw | Parksville-qualicum Beach Real Estate Blog Parksville/Qualicum Beach Real Estate News from Rudi & Trish Widdershoven August 2017 Vancouver Island Real Estate News from Rudi & Trish WiddershovenAugust 2017 Hi,The middle of August is here, where has this year gone? We hope that you have had a chance to enjoy the wonderful summer weather we have had, and that you have not had to endure too much as a result of the numerous forest fires in the province.We had the great pleasure of spending 4 nights on a 56' houseboat on Sproat Lake with the family - 5 grandchildren and 6 adults (full days for sure)! It was a great time and such a wonderful lake to spend time on.
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