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

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

June 2019

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Jul 22nd, 2019 at 7:48 pm

The number of homes sold by the listing broker is down to 25% due to the new real estate rules which do not allow "double ending". Of the 371 homes that sold locally in the first 6 months of 2019, 68% sold for over $500K with 34 sales over $1M.

To get at the overall trends in the local market, I have summarized the sales figures over the first 6 months (Jan Feb Mar April May June) of 2019 & compared that to the same period in 2018. Tabulated results for 2019 show that average sale pricing for single family homes is down by just 3% to $604,991. It has been a somewhat slower spring market this year as the number of single family homes sold is down by 9%. It is taking a bit longer to sell in this market as the days to sell is up by 28% to 35 days. In summary, prices are holding steady, sales are down a bit, it’s taking longer to sell & the number of listings are up, compared to the first half of last 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 have seen during the past 3 years. Specifically in June, the median sale price of single family homes was $570,000,000 with an average sale price of $572,055 (not including waterfront or acreages). This is down by 6% compared to June of 2018. Again for June, patio-home condos sold on average for $442,351, apartment condos sold for $320,505 & townhomes averaged $475,917. Only 1 building lot sold in June. However, current inventory has jumped to 36 lots which is up considerably over June of last year. The list to sell ratio for single family home sales was 98% in June. Single family homes listings are up by 23% & in all types by 21% when compared to June of last year.

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