Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
Anchor Realty 113 West 2nd Avenue
Qualicum Beach, BC Canada
(250) 667-0719
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Real Estate Market Update September 2019 Qualicum Beach Parksville Area Vancouver Island, BC

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

September 2019

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Nov 7th, 2019 at 2:32 pm

Patio-home condos sold on average for $401,733, apartment condos sold for $286,886 & townhomes averaged $549,300. Only 2 building lots sold in September. Current inventory has jumped to 37 lots which is up considerably over September of last year. The list to sell ratio for single family home sales was 94% in September. Single family home listings are up by 9% & in all property types by 6% as well when compared to September of last year.  It has been a somewhat slower spring/summer market this year but sales were up for September of this year compared to 2018. It is taking a bit longer to sell this year with the days to sell averaging 44 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.’

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

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