Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
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Nanoose Bay • Parksville • Qualicum Beach Local News

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Qualicum Beach Parksville Area Real Estate Market Summary JUNE 2020 (Scroll down this page for July Highlights)

Real Estate Market Snapshot for JUNE 2020 of the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Single Family Home Sale Pricing This is the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Real Estate Market Snapshot of Home Sales Pricing for JUNE 2020 – Click HERE for Stats:
Market Stats

Please email homes@nancyksmith.ca if you have any suggestions for Blog Topics, or if you believe any of our content is incorrect. Sometimes we just publish an opinion, and well, we have been wrong. For specific purchase or sell inquiries, contact me directly on my cell phone @ 250 667-0719. ***** We also bring some other informational articles in NANCY SMITH's Blog, and Market News.

A low supply of quality homes still hamper our real estate market. For JUNE, 69 single family homes have sold, dwarfing last years 50. Total condo(strata) sales are basically the same as last year, 23 units vs 22. At the end of June, there are 183 active single family home listings(232 in 2019), and condo listings at102 vs 99 in 2019.

However, when looking at the overall annual market, single family home prices increased by 3.67% and total condo prices were identical. Statistics can be viewed in so many ways, and generally buying a home should not be influenced by investing numbers, percentages and anecdotal information. When buying a home, it is a very personal choice based on your budget, location, reasons for moving, and features you are willing to have. A good REALTOR can help sort the numbers, apply their knowledge to conditon, location and desireability, combined with specific REALTOR tools and legal knowledge, they can make the buying experience much easier.

The COVID-19 pandemic has affected the JUNE market. There have been many properties attracting multiple-offers, with some buyer's offering up to $60,000 over asking price, for the right homes. In Qualicum Beach area, many clients are looking for the recently updated, move-in ready clean homes though very few inquiries have been received about new homes. We can only assume people are attracted to location and the charm of downtown Qualicum. Many other potential buyers are hunting for those special ocean view and rare ocean front properties.

Single family homes took longer to sell, taking an average of 47 days compared to last year's 24 days, but again because of low supply, and the pandemic pause, some people decided to buy now, but this year's chaos is quite unique. For the past twelve months, single family home sales have dropped from 593 annual total, to 557 units, and condo unit sales have slightly dropped from 259 to 231 units(12 months to date), 2019 to 2020. The average annual sale prices have remained about the same in condominium homes. As we have previously mentioned, single family home prices continue to climb, though not as steep as the previous four years. The average selling price is now $637,948 for JUNE/2020 compared to JUNE/2019 at $572,055, about 3.67% increase. ***** RE/MAX for quick professional assistance. *****


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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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Phase 2 of B.C.'s Restart Plan

Restart Plan is about adapting to a new normal.

REALTORS® can play a leadership role in their communities and profession by prioritizing public safety while serving consumers. All REALTORS® have a responsibility to understand WorkSafeBC's protocols and their brokerages' safety plans, as well as develop their own safety precautions to comply with government protocols. Doing so protects you, your staff, and your clients. In that spirit, here are some things to keep in mind.

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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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Market impact and reaction to COVID–19

The Market Paused for a Breath.

As no one knows how the real estate market will react to the fear and isolating effects of COVID-19, we are also not sure of the future market reaction. We present a few basic April 2020 statistics as presented by VIREB.

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Pandemic COVID–19 Thank you.

We are so grateful for all the hard working people.

We are so thankful for all the people who make our lives easier, who risk their own lives, for the good of all.

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COVID.19 Property Listing and Showing Services.

NANCY SMITH is Equipped to Help Through Pictures and Video

Pictures and videos have become a very necessary tool to assist clients with the purchase or sale of their home.

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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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A Rebound, or Just a Blip

Has the USA Housing Market Hit Bottom, or Will Coronavirus Slam It ?

The latter part of 2019 saw a consistent home market uptick, and though projections are for a continued pace, influences like the Coronavirus and the USA election, will affect both Canadian and USA markets. Maybe many people are waiting to see how the market moves before they decide to make a change and sell their existing home due to changing needs, creating a pent-up flood of potential market activity.

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USA Housing Statistics Are Similar to Canada

Current Sentiment is Pointing to a Stronger Housing Market.

We try to keep our local Market News and Market Statistics up to date monthly. This morning I saw USA stats as presented by Bloomberg and was surprised how similar their stats measure against Canada. It is difficult to project the long term trend by past news, but the current Corona Virus concern will affect our supply market for many products, as they have been a consistent provider. With the China shutdown, no one really knows the long term impact on our lives. Local Realtors are anticipating a strong 2020 home sales market. That said, we reproduce Bloomberg's USA housing statistics for your reading pleasure:

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Insurance is Stressing Strata Owners.

Most Insurance Issues Apply to Poorly Maintained and Poorly Operated Properties.

Strata Insurance has hit the news headlines and of course the media tends to spotlight and sensationalize their articles.

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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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