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Island home sales jump nearly 16 percent in 2020; no signs of cool-down this year SHARE ON: The real estate market is still sizzling and house prices continue to climb across Vancouver Island. Last  year, sales jumped nearly 16 percent from 2019, island-wide, and the average price of a single family rose to $587,085.  That’s nine percent higher than the previous year. The COVID-19 pandemic hasn’t cooled the market anywhere on the island. Vancouver Island Real Estate board president Erica Kavanaugh says there aren’t enough homes on the market to feed the needs of buyers. “It’s definitely been an issue all throughout last year and I don’t have a direct cause,” she said. “Low mortgage prices, that makes a big difference but on the off side of that, qualification went up to a higher level. End of the day, we have more buyers than we have inventory.”

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