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

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

May 2019

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Jul 15th, 2019 at 7:25 pm

To get at the overall trends in the local market, I have summarized the sales figures over the first 5 months (Jan Feb Mar April May) 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 1% to $611,552. 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 29% to 38 days. In summary, prices are holding steady, sales are down a bit, it’s taking longer to sell & the number of listings are up.

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 May, the median sale price of single family homes was $571,000,000 with an average sale price of $590,774 (not including waterfront or acreages). This is down by 3% compared to May of 2018. Again for May, patio-home condos sold on average for $479,033, apartment condos sold for $265,374 & townhomes averaged $578,043. Only 1 building lot sold in May. However, current inventory has jumped to 42 lots which is up considerably over May of last year. The list to sell ratio for single family home sales was 96% in May. Single family homes listings are up by 28% & in all types by 18% when compared to May of last year.   

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

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