All Blog Entries by Dave Koszegi

Found 100 blog entries published by Dave Koszegi.

Wonder what’s happening in our local Real Estate market? All of us at the Dave Koszegi Group are continuing to support Real Estate transactions here in the Alberni Valley as safely and effectively as possible (keeping the health and well-being of our community as our number one priority).

As you know, our government has recognized real estate as an essential service so not only do we have an obligation to honour existing contracts so housing is provided, but life events continue to happen during this time so the exchange of real estate is deemed essential.

We are diligently following guidelines from the federal government, the Canadian Real Estate Association (CREA) and our local board to ensure we operate in a manner that is safe for the wellbeing

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All of us at the Dave Koszegi Group wanted to let you know that we continue to support real estate transactions during the COVID-10 outbreak. Our government has explicitly named real estate as an essential service. Not only do we have an obligation to honour existing contracts so housing is provided but life events continue to happen during this time so the exchange of real estate is deemed essential.  

We are following guidelines from the federal government, the Canadian Real Estate Association (CREA) and our local board to ensure we operate in a manner that is safe for the wellbeing of our colleagues, clients, neighbours, friends and families.

This means, like many of you, we are mostly working virtually and limiting travel and face to face

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The COVID-19 health crisis will undoubtedly dampen the provincial housing market, but the Vancouver Island Real Estate Board (VIREB) reports that the virus had little impact on March sales.

In Port Alberni, the benchmark price of a single-family home in March came in at $328,300 which increased by 2.2% from February and 12% compared to March of last year. This is a significant increase especially when you compare it to other regions on Vancouver Island which have an average growth of only 3.6% and the closest other community in the region is Campbell River at 4.7%.

In the apartment category, the year-over-year benchmark price rose by 9.6%, hitting $381,500 with a 2.5% increase form the month prior. The benchmark price of a townhouse rose just over 2

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The entire Vancouver Island Region saw a big uptick in home sales in February and in particular, Port Alberni Real Estate saw a 53% increase in home sales compared to January.

In Port Alberni, the benchmark price of a single-family home in February came in at $321,100 which dropped two percent since December and but overall prices went up 4.35% from February last year.  

In the apartment category, the year-over-year benchmark price rose by 3.6%, hitting $176,900 and rose 2.59% from the month prior. The benchmark price of a townhouse rose by 5.63% year over year, climbing to $196,500, and rose close to two percent compared to the month prior.

 

Due to VIREB’s broad geographic area, what is a trend in one market may not be in another. For

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In Port Alberni, the benchmark price of a single-family home in January came in at $328,900 which rose marginally from December and a grew 9.65% from January last year. Compared to the board-wide average at only 4%, this is a significant increase for all of Vancouver Island. 

 

In the apartment category, the year-over-year benchmark price rose by five per cent, hitting $172,400 with a three percent drop form the month prior. The benchmark price of a townhouse rose by 2.79% year over year, climbing to $192,800, and was virtually the same as in December. 

 

Trend wise, inventory is tightening again, which is one of the factors behind weaker sales. REALTORS® are reporting that there is keen interest among buyers. However, reduced purchasing

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Across Vancouver Island sales of single-family homes in December increased by 40 per cent from one year ago and were 24 per cent lower than in November. Last month, 237 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 312 in November and 169 one year ago. Apartment sales in December rose by 68 per cent year over year, while the number of townhouses sold dropped by 20 per cent from one year ago. Annual sales of singlefamily homes in 2019 totalled 4,119, a nine per cent drop from 2018’s 4,539 sales. Inventory of single-family homes last month was virtually the same as in December 2018 (937 to 934) but dipped by 19 per cent from November 2019. Active listings of apartments rose by 10 per cent (270 to 298) year

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NANAIMO, BC – Sales of single-family homes in October dropped by 11 per cent from 2018 and were virtually the same as in September. Apartment and townhouse sales dipped by nine per cent and 22 per cent, respectively. Last month, 343 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 345 the previous month and 384 in October 2018.

In the apartment category, 88 units sold last month, while 42 townhouses changed hands. Inventory of single-family homes in October rose by 14 per cent from one year ago (1,173 to 1,333). Active listings of apartments increased by 16 per cent (322 to 373) year over year while townhouse inventory dropped by 21 per cent (167 to 132). The benchmark price of a single-family home board-wide was

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Sales of single-family homes in September were virtually flat year over year but dipped by 16 per cent from August. However, apartment and townhouse sales rose by 15 per cent and 11 per cent year over year, respectively. Last month, 345 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 413 the previous month and 347 in September 2018.

In the apartment category, 85 units sold last month, while 51 townhouses changed hands in September. In the VIREB area, inventory of single-family homes in September rose by 14 per cent from one year ago (1,283 to 1,466). Active listings of apartments increased by 43 per cent (293 to 419) year over year while townhouse inventory dropped by 18 per cent (171 to 140). The September

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With the autumn colours coming into their full vibrancy, our streets, parks, and cityscapes in the Alberni Valley are looking truly beautiful! With the kids back in school and that cosy “fall feeling” upon us, it’s a really special time of year.

Those reasons aside, we provide you with our three expert insights on why you should consider a real estate purchase in Port Alberni this fall:

Sellers are tired - and they’re SERIOUS about making a sale!

Pricing a home properly is THE most important part of selling, and unfortunately, some sellers are over-confident with their pricing during the prime selling season; spring. By pricing their homes more than what the market is looking for, they likely have seen months of little to no action on moving

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Sales of single-family homes in August board-wide dipped by 11 per cent year over year and were nine per cent lower than in July. Last month, 413 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 453 the previous month and 463 in August 2018. Year-over-year sales of apartments and townhouses dropped by 28 per cent and 25 per cent, respectively. REALTORS® are reporting that VIREB’s housing market is adjusting somewhat as buyers adapt to the restrictions imposed by the B-20 stress test and sellers curb the expectations formed during the booming markets of 2016 and 2017 and, to a lesser extent, 2018.

 In the VIREB area, inventory of single-family homes in August rose by 11 per cent from one year ago (1,343 to

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