May/2020 Market Numbers are Showing an Upswing.

With the lifting of some restrictions, people are moving.

• By Stan Beech
• Assistant
• Published: Jun 4th, 2020 at 4:42 pm

Last month, 246 single-family homes sold on the MLS® System compared to 189 in April 2020 and 456 in May 2019. Sales of apartments decreased by 56 per cent year over year but were significantly higher than in April, with 44 properties changing hands compared to 17 the previous month. Townhouse sales dropped by 70 per cent year over year but rose by 65 per cent from April.

Inventory of single-family homes last month dipped by 14 per cent year over year (1,486 to 1,282). Active listings of apartments rose by 21 per cent (339 to 410) year over year, while townhouse inventory dipped by four per cent (185 to 178).

The benchmark price of a single-family home board-wide was $528,800 in May, an increase of three per cent from the previous year and marginally higher than in April. In the apartment category, the year-over-year benchmark price rose by three per cent as well, hitting $306,400, down about one per cent from April. The benchmark price of a townhouse in May rose by three per cent year over year and was slightly higher than in April, climbing to $423,300.

Check our website Market News and Market Stats for the more exciting local Qualicum Beach market update.  Qualicum Beach is enjoying better results than other areas on Vancouver Island.