Interest rates can significantly impact the real estate market. The interest rates have been uncertain and our now leveling. This will stabilize the market. Lower interest rates generally make it more affordable to purchase a home, while higher rates can have the opposite effect.

    The average sale price in September in Port Alberni was $535 000. This suggests that Port Alberni may offer more affordable housing compared to many other parts of Hiking in Vancouver Island, where prices can be considerably higher. 

     The fact that 20 properties were sold compared to 16 in September 2022, indicates some level of activity in the market. September 2023 seems to have been a more competitve month than September 2022.

      An average of 55 days on the market suggests that properties in Port Alberni are selling at a moderate pace. Its not extremely fast or slow, which can be indicative of a stable market . 

     Port Alberni is considered one of the more affordable places to live on Vancouver Island along with providing great fishing and hiking,  fantastic recreational property, a wonderful family community with a incredible sports community. 

      If you need more information on any properties or just want to inquire about Island living in Port Alberni on Vancouver Island, please contact me.