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Real Estate Market Update June 2020 Qualicum Beach

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June 2020 - courtesy VIREB

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Jul 2nd, 2020 at 8:56 pm

June 2020 Market Update

The COVID-19 effect on VIREB’s housing market seemingly wore off in June, with sales rebounding significantly from May and posting year-over-year increases in most markets.

Last month, 479 single-family homes sold on the MLS® System compared to 246 in May 2020 and 406 one year ago. Sales of apartments increased by three per cent year over year but were 59 per cent higher than in May. Townhouse sales rose by three per cent year over year and were up by 118 per cent from May 2020.

Inventory of single-family homes last month dipped by 23 per cent year over year (1,598 to 1,224). Active listings of apartments rose by 22 per cent (353 to 431) year over year, while townhouse inventory dipped by three per cent (189 to 183).

The benchmark price of a single-family home board-wide was $534,800 in June, an increase of four per cent from the previous year and one per cent higher than in May. In the apartment category, the year-over-year benchmark price rose by three per cent, hitting $312,600 and down two per cent from May. The benchmark price of a townhouse in June rose by two per cent year over year, climbing to $419,700 but down around one per cent from May.

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