Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
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Qualicum Beach, BC Canada
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Qualicum Beach and Area Local News Archive

Local Real Estate News Archive

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MARKET UPDATE: August 31 /2021

Courtesy NANCY SMITH and VIREB

The summer of 2021 has been extremely hot and dry, sparking numerous damaging forest fires in British Columbia. This is having a significant effect on the Vancouver Island real estate market. People in the forest fire areas are not only suffering with the heat and dry, but also air pollution from the burning forests have negatively affected their health, and consequently, their ability to make changes in their real estate needs. There are people on Vancouver Island planning to move to the desirable Okanogan and other areas to be closer to family or employment. No one wants to move once the fires and smoke put people at risk. Even more specifically, insurance companies, and therefore mortgage business refuses to do business until the fires are brought under control and eliminated. People living near current forest fires are not able to sell their homes for all of the above reasons, to move to Vancouver Island, though there are many people wishing to make the move. CLICK on '-> Read more' to view VIREB's market update and statistics for the Month of August /2021.

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MARKET UPDATE: July 31 /2021

Courtesy NANCY SMITH and VIREB

The old news is still news; home inventory is still at historical lows. This is not to say homes are not selling, but quite the opposite, home sales are so brisk, the market is lacking inventory. Currently NANCY SMITH has three listings, two just added, which have garnered a lot of attention, even from Victoria and Vancouver REALTORS who are making the trek to Qualicum Beach to assist their clients. Often REALTORs will refer clients into other communities, especially at these distances, but lack of inventory is motivating REALTORs to take that extra step. To read more information and statistics from our VIBREB Board for the month of July /2021, CLICK on 'Read more'.

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MARKET UPDATE: JUNE 30 /2021

Courtesy NANCY SMITH and VIREB

Real estate market conditions still favor Sellers as inventory continues to challenge the waiting list of Buyers. Homes requiring maintenance and renovation updating continue to sell easily as no-condition offers still dominate the market. Home buyers are assuming risky purchases as they buy homes without the usual building inspections, septic inspections and subject-to-financing clause. Often million dollar purchases are based on one 15 minute viewing, and even remote purchasing without a viewing. Homes that would normally languish on the market, SELL. ***** Click on "Read more' to get VIREB statistics and market opinion. *****

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MARKET UPDATE: MAY 31 /2021

Courtesy NANCY SMITH and VIREB

Qualicum Beach and the greater Oceanside area is hurting for listings. Waterfront properties do not last in this market in the $ multi-million price range, as competition is fierce. With new construction costs soaring due to many factors; building material shortages, transportation issues and a lack of available skilled tradespeople, and new construction fees and taxes, pre-owned homes are in greater demand. The hot home market extends through the mobile home on pad rent, to small lot and home properties, to inconvenient locations, everything is selling. For further insight from VIREB and accumulated statistics for Vancouver Island, excluding Greater Victoria, click on "Read more".

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MARKET UPDATE: APRIL 30 /2021

Courtesy NANCY SMITH and VIREB

REALTORS and Buyers are feeling weary in this complicated market. Sellers are overjoyed at the current demand and price levels, but seem to sober up when it is their turn to become Buyers. These factors are keeping potential Sellers from listing their homes, creating an even tighter real estate market. This phenomenon is not confined to our local market, or even across Canada, but also in many developing countries. No one seems to be able to pin down the list of factors, but everyone seems to point fingers at the current low interest rates. Normally at this time of year, the local listings can double in a regular market, but properly qualified and diligent-priced properties are selling within a few days, keeping available inventory tight. CLICK on "Read more" for further April Market stats and opinion from VIREB.

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MARKET UPDATE: MARCH 31 /2021

Courtesy NANCY SMITH and VIREB

Sales are steady as a lack of inventory is keeping Buyers at bay, on Vancouver Island. Click on "Read more" for current basic Market DATA.

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MARKET UPDATE: February 28, 2021

Courtesy NANCY SMITH and VIREB

No news is good news? Lack of inventory is resulting in frantic 'bidding' for available properties as purchasers are increasingly frustrated submitting offers, only to be disappointed. Not all properties will sell to the 'highest bidder', as some sellers have specific requests, like rent-back, specific closing dates, and other special considerations. Work with your REALTOR to tailor your offer to be successful. Remember, it is also in the REALTOR's best interest to have a happy client. CLICK on "Read more" for a quick market overview. For a more DETAILED Market snapshot, view the next article below this one.

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MARKET UPDATE: January 31, 2021

Courtesy NANCY SMITH and VIREB

Historically low inventory has deeply affected prices, leaving many buyers standing on the sidelines waiting for compatible homes. Homes below the $1 million mark are experiencing multiple offers without sales conditions, meaning cash offers with no building and other inspections.

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MARKET UPDATE: December 31/2020 Qualicum Beach/Parksville

Courtesy NANCY SMITH and VIREB

NANAIMO, BC – The Vancouver Island Real Estate Board (VIREB) reports that sales of single-family homes in December increased by 34 per cent from one year ago and were 28 per cent lower than in November. Last month, 302 single-family detached properties (excluding acreage and waterfront) sold on the MLS® System compared to 226 in December 2019 and 421 in November 2020.

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MARKET UPDATE: November 30/2020 Qualicum Beach/Parksville

Courtesy NANCY SMITH and VIREB (Central Vancouver Island)

DECEMBER 1, 2020 STRONG BUYER DEMAND HAMPERED BY LOW INVENTORY NANAIMO, BC – Last month, 422 single-family detached properties (excluding acreage and waterfront) sold on the MLS® System compared to 318 in November 2019, a 33 per cent increase. Sales dipped by 19 per cent from October. In the condo apartment category, sales rose by 65 per cent year over year and decreased by 17 per cent from October. Row/townhouse sales increased by 84 per cent from the previous year but dropped by eight per cent from October. “Although sales decreased in September and October, we attribute it to a lack of inventory, not weakening demand,” says VIREB president-elect Ian Mackay. “The buyers are there, but the listings aren’t.” Please Click on "Read more" to see more details.

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Market Update October 31/2020 Qualicum Beach/Parksville

Courtesy NANCY SMITH and VIREB October 31/2020

The real estate market is still on fire with buyers, but listing inventory is hitting new lows with just 285 active and open residential properties available for sale. In 2019 the inventory was tight at 500 homes but many buyers found homes and properties to suit their needs. This year, it is taking some imagination, determination and pure luck for the many buyers to find a sweet-heart property. Please Click on "Read more" for a comprehensive report.

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Vancouver Island Housing Update for September 2020

Courtesy NANCY SMITH and VIREB September /2020

A local robust market has exceeded sales expectations for single family homes. Courtesy of VIREB and NANCY SMITH, to see market results to the end of AUGUST /2020 Please CLICK * Read more * to read the full article.

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Market Update August31/2020 Qualicum Beach

Courtesy VIREB

August 2020 Market Update The strong post-COVID recovery of VIREB's housing market continued in August, with 1,101 unit sales (all categories) last month, a 39 per cent increase from August 2019. To read the FULL ARTICLE please CLICK *Read more*

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Market Update July 31/2020 Qualicum Beach

Courtesy VIREB

The slow summer real estate season is not happening this year. REALTORS in the VIREB, Vancouver Island(excluding Greater Victoria VREB)are swamped with buyers and a lack of inventory. As well, VIREB has switched over to the new document management service MATRIX, and other updates as well as COVID-19 restrictions are testing everyone's patience. Where are our local sellers? I suppose Vancouver Island is Canada's magnet for enjoying life with amazing climate, charming people and endless natural outdoor activities.

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Real Estate Market Update June 2020 Qualicum Beach

June 2020 - courtesy VIREB

Courtesy VIREB and NANCY SMITH RE/MAX, we provide a copy of June 2020 VIREB board area synopsis. There is a consistent if not somewhat ambitious market oddity in that many desirable homes are receiving multiple offers and some homes seem to be selling quite North of the previous average local valuations. This is great news for the current sellers, and interest remains high with many potential buyers getting outbid but wanting a home to move into.

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May/2020 Market Numbers are Showing an Upswing.

With the lifting of some restrictions, people are moving.

Courtesy VIREB (Vancouver Island Real Estate Board) ON THE GROUND May 2020 Market Update *** While COVID-19 had a significant impact on VIREB's housing market in April, our May numbers indicate that the market may already be recovering.

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Impact of COVID–19 on May 2020 vs Sales May 2019

Annual Statistical Comparison Charts for Month of May

In a crisis, people react in different ways. We take a peek back to May/2019 and compare the monthly market statistics to the current May/2020 market. There has been a drop in activity as many retail businesses have closed down to reduce close interaction and contact, the real estate market has not just stopped.

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Real Estate Market Update March 2020 Qualicum Beach

March 2020 - courtesy VIREB

Courtesy VIREB and NANCY SMITH RE/MAX, we provide a copy of March 2020 VIREB board area synopsis.

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January 2020 Market Update for Vancouver Island, includes Qualicum Beach, Parksville, Nanoose.

Market Update for Month of January 2020

January 2020 Market Update as Released by CREA Sales of single-family homes dropped by 16 per cent from one year ago and were 26 per cent lower than in December. However, this is a broad paintbrush, and the Local Market of Qualicum Beach will be summarized shortly, in follow up articles.

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Market Update December 2019 The Local Housing Market Ends With No Surprises

December Wrap up for 2019

Trend-wise, VIREB’s housing market is balanced in most areas and inching towards a buyers’ market in a few zones. Overall, however, home sales and listing activity are at typical levels for our region. REALTORS® across the Island are reporting that there is interest among buyers, but many are taking a wait-and-see approach.

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

December 2019

Regionally: Parksville-Qualicum area saw its benchmark price increase by one per cent to $583,400.

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December 2019 Qualicum, Parksville and Nanoose Bay Market News Update. Real Estate, Vancouver Island.

Nancy Smith RE/MAX Anchor Realty

Board Wide: The Parksville and Qualicum area saw its benchmark price increase by around two per cent to $576,500.

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

September 2019

Specifically in September, the median sale price of single family homes was $568,500 with an average sale price of $618,565 (not including waterfront or acreages). This is about the same price as in July of 2018.

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

August 2019

The real estate market in the Qualicum Beach Parksville area over the spring/summer months has seen prices basically holding steady, with sales down a bit, it’s taking a little longer to sell & the number of listings are up, compared to the first half of last year. Yet it is interesting to note that about 30% of homes sell in the first week and about 50% within one month. The number of homes sold by the listing broker is down to 26% due to the new real estate rules which do not allow "double ending". Of the 531 single family homes that sold locally in the first 8 months of 2019, 68% sold for over $500K with 46 sales over $1M.

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

July 2019

The real estate market in the Qualicum Beach Parksville area over the spring/summer months has seen prices basically holding steady, with sales down a bit, it’s taking a little longer to sell & the number of listings are up, compared to the first half of last year.

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

June 2019

The real estate market in the Qualicum Beach Parksville area has fluctuated quite a bit during the early part of this year. It is interesting to note that for the month of June, 31% of homes sold in the first week and 61% within one month.

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

May 2019

The real estate market in the Qualicum Beach Parksville area has fluctuated quite a bit during the early part of this year. It is interesting to note that for the month of May 35% of homes sold in the first week and 62% within one month. The number of homes sold by the listing broker is down to 29% due to the new real estate rules which do not allow "double ending". There were 32 sales of homes in the area selling for over $1M and 45% of the single family homes sold were over $600K.

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

April 2019

The real estate market in the Qualicum Beach Parksville area has fluctuated quite a bit during the early part of this year. To get at the overall trends in the local market, I have summarized the sales figures over the first 4 months (Jan Feb Mar April) 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 $620,406. It has been a somewhat slower spring market this year as the number of single family homes sold is down by 18%. It is taking longer to sell in this market as the days to sell is up by 38% to 40 days. In summary, prices are holding steady, sales are down a bit, it’s taking longer to sell & the number of listings are up.

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

March 2019

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.

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

February 2019

Real estate market sales in the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area see a great gray wave of Boomers (more like a gray tsunami...) retiring to the region.

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

January 2019

A balanced market trend has emerged with single family home sale and condo sale pricing having moderated somewhat. I am calling it a 'levelling off.' This bodes well for buyers!

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Real Estate Market Summary 2018

Shift to a More Balanced Market

The Qualicum Beach Parksville Nanoose Bay Fairwinds Bowser Deep Bay area real estate market has levelled out and shifted towards a more balanced market. Local home sales in 2018 were at a slower pace compared to 2017. The number of single family home sales dropped by 22% with sales dollars down by 11% compared to 2017. However, the overall average sale pricing of single family homes in 2018 was up by 13% compared to 2017.

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Real Estate Market Summary for 2017

Qualicum Beach Parksville Nanoose Bay Fairwinds Area of Vancouver Island, BC

The big real estate story throughout the year concerned increases in home prices within the Greater Vancouver area and the impact of foreign buyers. In BC, real estate seems to be the main topic of conversation second only to the weather.

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Real Estate Market Summary for 2016

Qualicum Beach Parksville Nanoose Bay Fairwinds Area of Vancouver Island, BC

Many changes occurred in 2016 affecting real estate in BC.

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