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Real Estate Market Update March 2019 Qualicum Beach Parksville Fairwinds Nanoose Bay Deep Bay & Area Vancouver Island, BC

Home > Market News > Real Estate Market Update March 2019 Qualicum Beach Parksville Fairwinds Nanoose Bay Deep Bay & Area Vancouver Island, BC

March 2019

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: May 15th, 2019 at 3:39 pm

The Qualicum Beach Parksville Nanoose Bay Fairwinds Bowser Deep Bay area real estate market has levelled out in terms of pricing and shifted to a more balanced market.  In March, the median sale price of a single family home in the local area was $520,000 (not including waterfront or acreages) with an average sale price of $590,299. This is down by 12% compared to March of 2018. In March, the patio-home style of condo average price was $487,071 while apartment style was $324,714 and townhomes averaged $455,400. Only 3 building lots sold in March averaging $246,833 and current inventory is very low.

Compared to last year, the first quarter sales results of 2019 (Jan Feb Mar) show that the number of single family homes sold is down by 24%, home sale prices are down by an average of 7% and days on the market is up by 42%. The overall sale price of a single family home was $595,046 during the fist 3 months of 2019. 

A balanced real estate market trend in the Qualicum beach area has emerged with single family home sale and condo sale pricing having moderated or 'levelled off.' In the summer of 2018 a trend began to emerge towards a balance between supply and demand resulting in less upward pressure on sale price. Listings of single family homes were up by 59% compared to March of last year while the number of listings among all types of properties was up by 52% overall. It is important for Sellers to price their property competitively given the shifting dynamics in the real estate market. For March sales, it took on average 51 days to sell a single family home and the Sale/List price was 95%. About 30% of single family homes sell in the first week.

At RE/MAX Anchor in Qualicum Beach and 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.

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