experts: real estate column Wednesday, April 26, 2000

VANCOUVER ISLAND MARCH NUMBERS REVISITED

Prices are very soft, there still is time to get that fine deal.

By Ozzie Jurock

Major point: Prices are very soft, there still is time to get that fine deal. We still hear reports of out-of-town investors in Campbell River, Duncan and Comox accepting huge discounts on properties. Some waterfront properties also are excellent buys. We expect the market to improve in May.

PRICES UP ON THE MONTH (STILL DOWN YEAR TO DATE)

Average prices  March/00  March/99
CAMPELL          149,300   131,100  +14%
DUNCAN           161,200   152,600  +06%
NANAIMO          160,500   153,300  +04%
PORT ALBERNI     107,600   100,000  +07%
VICTORIA         244,500   240,100  +02%
GABRIOLA ISLAND  127,800   134,200  -04%
VOLUME DOWN
CAMPELL               29        27   00%
COMOX                 52        72  -38%
DUNCAN                67        85  -26%
NANAIMO              113       163  -44%
PORT ALBERNI          25        21  +19%
VICTORIA             491       534  -09%
GABRIOLA ISLAND        4         6  -25%
The phenomena ... like Vancouver volume lower on the month than last year but prices rising on the month substantially. Bottom in place.

DEALS
Port Alberni
Cheapest house on the island ... needs TLC = $35,900.
(20 homes under $70,000)

Campbell River
Cheapest house, needs TLC = $55,000.
Cheapest Condo, $38,000

Great 3 bedroom home on 2.28 acres, $109,000
3,000 sq. foot waterfront, $257,000

Nanaimo
Cheapest house, needs TLC = $79,000.
Cheapest Condo, $39,900
Cheapest Waterfront Condo, $124,000 (2 bedroom den)




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