Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
Anchor Realty 113 West 2nd Avenue
Qualicum Beach, BC Canada
(250) 667-0719
RE/MAX Balloon

Real Estate Market Update August 2019 Qualicum Beach Parksville Area Vancouver Island, BC

Home > Market News > Real Estate Market Update August 2019 Qualicum Beach Parksville Area Vancouver Island, BC

August 2019

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Oct 14th, 2019 at 1:59 pm

Over the past year, the real estate market has ‘levelled out’ in terms of pricing and has become more of a balanced market. At least for now, gone are the double digit price increases & unsettling multiple offers that we saw during 2015 – 2018. When all single family sales are combined during the previous 12 month period, the August sale price is the same as it was in July & August of 2018 at $610K. Note that it was in July of last year that single family home sale prices began to ‘level out.’

Locally, this is a small real estate market in a great locale.

Specifically in August, the median sale price of single family homes was $559,000 with an average sale price of $608,200 (not including waterfront or acreages). This is the same price as in July of 2018. Patio-home condos sold on average for $352,150, apartment condos sold for $362,340 & townhomes averaged $363,062. Only 1 building lot sold in August for $415,000. Current inventory has jumped to 37 lots which is up considerably over August of last year. The list to sell ratio for single family home sales was 96% in August. Single family home listings are up by 11% & in all property types by 15% as well when compared to August of last year.  It has been a somewhat slower spring/summer market this year and the number of single family homes sold is down by 6% for August of this year compared to 2018. It is taking a bit longer to sell this year with the days to sell averaging 30 days.

Buyers want to move here, especially in retirement, for both the milder climate & better lifestyle. Sellers generally either want to downsize, move to another home with an ocean view that they didn’t have before, or to relocate back to where their kids & grandkids live. Here, we see a great gray wave of Boomers (more like a gray tsunami...) retiring to the region. Retirees drive the local economy along with tourism. Retirees keep the trades people busy with home renovations & new home construction. The 'elderhood market' is now known as the new silver economy. This will have a dramatic effect on society, with tremendous business opportunities that emerge from this burgeoning demographic.


The 2018 RE/MAX Recreational Property Report states that although the BC market is driven primarily by retirees, an emerging trend is the presence of couples and young entrepreneurs in search of work/life balance. The BC speculation tax does not apply to the Qualicum Beach/Parksville area. Some may acquire a recreational property as the cost of home ownership in places like Vancouver and Victoria has become prohibitive. For others it’s a stress-relieving escape from a fast paced life and career. While for others it can be part of a retirement strategy.


A balanced real estate market trend in the Qualicum Beach Parksville area has emerged with single family home & condo sale price increases having moderated or 'levelled off.' If you go to the ‘Market News’ tab on my website you will see the graph in Part 1 showing single family home sale pricing over time & see for yourself how it has ‘levelled off.’

Here are few interesting trends for you regarding the overall BC economy. 70% of Canadians over 60 want to retire in BC. In 1960, the average Vancouver home sold for $13,105. In 1998, the average sale price stood at $346,540. Today that average Vancouver home is $1.8M (Ozzie Jurock). BC has an economy that continues to attract talent, thanks to flexible immigration policies and an enviable quality of life.  BC's unemployment rate ended at 4.4%, lower than anywhere else in the country, and remained so through the first quarter of this year (BC Business).

At RE/MAX Anchor in Qualicum Beach & at RE/MAX First in Parksville, our full-time REALTORS have the highest number of sales per REALTOR when compared to our local competition.

Outstanding Agents…Outstanding Results

Listings by Community

Featured Listing

Video Tours

Search by Price

Sort order:

Listings by Type

Nancy's Picks

Community Info

Community Resources

Community Videos