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January 2020 Market Update for Vancouver Island, includes Qualicum Beach, Parksville, Nanoose.

Home > Market News > January 2020 Market Update for Vancouver Island, includes Qualicum Beach, Parksville, Nanoose.

Market Update for Month of January 2020

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Feb 4th, 2020 at 2:08 pm

January 2020 Market Update  - CREA

Sales of single-family homes dropped by 16 per cent from one year ago and were 26 per cent lower than in December.

Last month, 174 single-family homes sold on the MLS® System compared to 235 in December and 208 one year ago. Apartment sales in January decreased by three per cent year over year, while the number of townhouses sold dropped by 18 per cent from one year ago.

Inventory of single-family homes last month rose slightly from one year ago (981 to 992) and increased by six per cent from December 2019. Active listings of apartments rose by three per cent (299 to 309) year over year, while townhouse inventory dropped by 24 per cent (165 to 125).

The benchmark price of a single-family home board-wide was $515,400 in January, a four per cent increase from one year ago and marginally lower than in December. In the apartment category, the year-over-year benchmark price rose by five per cent, hitting $309,300, which is two per cent higher than in December. The benchmark price of a townhouse last month rose by three per cent year over year, climbing to $408,600, and was virtually the same as in December.

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