By David Wiwchar

Home sales up; inventory down

Mar 6, 2024 | 9:15 AM

Port Alberni home sales were up last month, despite inventory levels being down, according to the Vancouver Island Real Estate Board.

26 Port Alberni properties sold last month, which was a 60% increase over the 16 sales the previous month, and a 45% increase over February of last year.

The average sale price increased by 8% from January to $637,000

Realtors say there is a pent-up demand as buyers are poised to pounce on a possible Bank of Canada interest rate drop in the Spring.