Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
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Qualicum Beach, BC Canada
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December 2019 Qualicum, Parksville and Nanoose Bay Market News Update. Real Estate, Vancouver Island.

Home > Market News > December 2019 Qualicum, Parksville and Nanoose Bay Market News Update. Real Estate, Vancouver Island.

Nancy Smith RE/MAX Anchor Realty

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Dec 26th, 2019 at 5:21 pm

Sales of single-family homes in November 2019 rose by three per cent(3%) from 2018 but were nine per cent (9%) lower than in October 2019. Apartment and townhouse sales also dipped by eight per cent (8%) and thirty-three (33%) percent, respectively.

Last month, 312 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 343 the previous month and 304 in November 2018. In the apartment category, 65 units sold last month, while 26 townhouses changed hands.
Inventory of single-family homes in November rose by eight per cent from one year ago (1,065 to 1,155), the lowest since March, which saw 1,172 properties for sale. Active listings of apartments increased by 15 per cent (319 to 368) year over year while townhouse inventory dropped by 31 per cent (177 to 123).

The British Columbia Real Estate Association reports that after a slow start to 2019, MLS® home sales in the province embarked on a sustained upward climb in the spring, returning to trend after adjusting to market shocks caused by federal mortgage rules and provincial tax policies.

The benchmark price of a single-family home board-wide was $517,100 in November, a three per cent increase from one year ago and down slightly from October. (Benchmark pricing tracks the value of a typical home in the reported area.) In the apartment category, the year-over-year benchmark price rose by three per cent, hitting $297,000 but down one per cent from October. The benchmark price of a townhouse rose by two per cent year over year, climbing to $405,700 last month and slightly higher than in October.

The Parksville-Qualicum area saw its benchmark price increase by around two per cent to $576,500. 

Trend-wise, VIREB’s housing market is balanced in most areas and inching towards a buyers’ market in a few zones. Overall, however, home sales and listing activity are at typical levels for our region. REALTORS® across the Island are reporting that there is interest among buyers; however, they are price-savvy, not in a hurry and willing to walk away from deals. Some buyers and sellers are also choosing to wait until spring, hoping for more favourable conditions.

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