Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
Anchor Realty 113 West 2nd Avenue
Qualicum Beach, BC Canada
(250) 667-0719
RE/MAX Balloon

Nanoose Bay • Parksville • Qualicum Beach Local News

Local Real Estate News

Home Catch-22 - without a home.

Residential Sales Summary for Qualicum Beach and Area February 28 /2022 CLICK here for Stats:
Market Stats

The Buyer's frustration continues with even lower sales inventory and increasing prices especially for single family homes. Entry level homes, including mobiles, modulars, condominiums and patio homes are often scooped up on or before they are listed on the MLS system. Diligent buyers, either requiring financing, or smartly request building, septic, water and other inspections are still often trumped by subject-free, multiple offers on desirable properties. Some buyers are sitting on the sidelines, watching the news and as they watch prices rise and inventory fall, keep looking for that 'bubble' to pop, while getting priced out of the local markets.

The Government keeps meddling in the housing market, in a effort to appease the entry level buyers, but consistently put policies and taxes in place to attempt to stifle the open real estate market, only to see failure. Prices continue to climb, and the entry-level homes are increasingly harder to purchase. We have seen USA markets where mobile homes in parks are advertised for $18 - $22,000 USD, whereas on Vancouver Island, similar homes are currently selling for $200 - $300,000 CDN.

In our opinion, even a 'crash' in the general market will have little effect on Vancouver Island prices, as Canada and Vancouver Island will continue to attract retirees from not only all parts of Canada, but also from all parts of the world. On the world market, our large homes and properties, especially those on waterfront or with ocean views, are extremely cheap and desirable.

Unfortunately for the local Vancouver Island residents, we easily remember when waterfront properties were selling for the same price as current average homes, without views.

Many residents have been caught-up since the beginning of 2020, with the Covid-19 pandemic influences, without a home. They unfortunately sold their home, but before repurchasing, they were caught in this surprisingly hot market. No wonder inventory is at a record low, as residents are afraid to sell, without having the confidence of being able to re-purchase.


Get Market News/Stats Delivered Monthly

Send Sales Stats To:

A typical BC home.

MARKET UPDATE MAY 31, 2022

Courtesy NANCY SMITH and VIREB

CLICK on "Read more" below for the latest MAY /2022 local market update. Crypto currency and the stock market is taking a beating, some speculate because of the Covid lockdown effect. Real estate is still the go-to for many investors, as more new listings are added to our spring market. Many new listings have boosted our local inventory from a record low of 100 active listings up to 200 currently available. This is still only 50% of listings needed for a balanced market. The marginal buyer is waiting until they can afford a home, and many are also afraid to buy, then see a market correction, severely cutting their equity. Cash buyers still have the upper hand and desirable properties are receiving multiple offers. For more opinion and MAY /2022 Market Statistics, click on 'Read more'.

Arrow graphic Read more

MARKET UPDATE April 30/2022

Courtesy NANCY SMITH and VIREB

CLICK on "Read more" below for the latest March /2022 local market update. Many buyers are suffering from Covid and Real Estate Market Fatigue and the news headlines are not very encouraging. The Russia - Ukraine situation is still ramping up, with no resolution apparent in the near future, the Stock Market is suffering from cash withdrawls and established hedge fund companies are shutting down due to market collapse fears. Many new listings have boosted our local inventory from a record low of 100 active listings up to 200 currently available. This is still only 50% of listings needed for a balanced market. The marginal buyer is waiting until they can afford a home, and many are also afraid to buy, then see a market correction, severely cutting their equity. Cash buyers still have the upper hand and desirable properties are receiving multiple offers. For more opinion and April /2022 Market Statistics, click on 'Read more'.

Arrow graphic Read more

MARKET UPDATE March 31 2022

Courtesy NANCY SMITH and VIREB

CLICK on "Read more" below for the latest March /2022 local market update. Cooling-off Period: the controversy. Until the Government actually releases their legislation, all opinions are purely speculation. Just announced: B.C. approves home purchase cooling-off period Well, the Provincial Government stepped in to cool the real estate market by introducing the vacancy tax boondoggle, and that went well(sarcasm). Even now, they are considering the expansion of that marvellous program. So now, the Government is stepping up their Real Estate cooling off plans with a 'cooling-off period'. The powers that be, diligently consulted with Real Estate Brokers and had input from many influential Realtors, and now they are expressly ignoring and overlooking the market experts. As it is well known, be careful what you wish for. It is understandable that people have elevated their purchase risks by making subject-free offers and then have the joy of spending more money fixing deficiencies. It is also a well known fact, that when people do not want to buy homes, prices drop. Vancouver Island, the mecca of Canada, has seldom suffered a significant market price drop, but rather price levels can stagnate for 7-10 years. Local opinions speculate, price increases over the next three years to 2025, will run around a 7% annual increase.

Arrow graphic Read more

MARKET UPDATE February 28 2022

Courtesy NANCY SMITH and VIREB

Qualicum Beach and area real estate listing had a modest jump in February, but the inventory was quickly gobbled up, and prices are still increasing, seemingly with each new sale. Tenants are seriously feeling the pinch as investors have pulled equity from the stock market and are looking to invest into this 'safe' real estate market. Today, February 02, the Canadian prime interest rate was increased 25 basis points, but the US market delayed any increase. Sadly the Russian invasion of Ukraine has set the world on fire with uncertainty. Both countries heavily contribute to the world economy in countless ways, many which have changing and lasting effects. There is a local and personal good-news story to share, as well as a market summary by VIREB. Also visit My Blog for other interesting projections and opinions. Please click on 'Read more'.

Arrow graphic Read more

MARKET UPDATE January 31 2022

Courtesy NANCY SMITH and VIREB

Local listings discovered a new low for single families. Normal market conditions bring about 400 - 500 listings, but listings have breached below 100. For many people this market is entirely a sink or swim issue. Multiple offers without conditions are hording the market sales, and those desiring a building inspection, financing, subject-to-sale or other requirements, just are not doing well. NANCY SMITH has just listed a 1970 mobile home on a rental pad, listing at $159,900, and within hours, there is a lineup of prospective buyers. All are serious and intent on landing a home. The rental market is also creating home buying chaos, in that people either can not find a suitable place to rent while they shop, but rental rates are challenging the pocketbook. In as much as Realtors need a breather, buyers need a break, and listings remain scarce, we have little good news to share. ##### CLICK on '> Read More' for statistics and information supplied by VIREB for our zones.

Arrow graphic Read more

MARKET UPDATE: November 30 /2021

Courtesy NANCY SMITH and VIREB

Normally, November heralds in frost, ice and maybe snow, but this year of 2021, we have seen nothing but record coastal rains. The month ended with atmospheric rivers decimating our highways and railways, effectively shutting down transportation of goods and people. Also we are globally dealing with a pandemic and another variant, which is not helping our local and international commerce. Couple these issues with nice low interest rates, multiple cash offers, and low volume new construction, home prices are still escalating while inventory tanks. Cash offers (clean offers with no subject clauses) still reign in multiples, and people requiring financing are, for the most part, standing on the sidelines, ready to jump into an affordable home, which is still facing increasing prices. It is difficult to help people list their homes, when they are unsure of availability of a home to purchase. It has worked for those who can afford to buy the new home first, before selling their existing home. More often than not however, it has worked for the sold home deal to close, and money is transferred to the new home purchase, saving potential bridge financing. As Professional Realtors, we strive to make the process as smooth as possible, and hopefully exceed the expectations of our client. ##### CLICK on '> Read More' for statistics and information supplied by VIREB for our zones.

Arrow graphic Read more

MARKET UPDATE: October 31 /2021

Courtesy NANCY SMITH and VIREB

Here on Vancouver Island, November usually heralds in winter with our harshest weather. If we will get snow and ice, the worst is usually in November, so the impact on our daily lives is quite significant. This year will be especially notable as we have enjoyed the longest driest summer weather in our memories. Vegetation, streams and water reserves have suffered the lack of our normal precipitation. In the home sales market, we have also seen a drought in listings, as it seems many people have locked down in their homes while health authorities struggle with the Covid pandemic. The local Central Vancouver Island sales volumes have been good, but not keeping up with demand. People having to make moves in the real estate market, are experiencing major price increases, even a 33% annual jump in Qualicum Beach/Parksville benchmark price. Local residents and even the real estate agents are struggling to cope with the phenomenal price increases. As we have gazed across Georgia Strait at the inflated Greater Vancouver market, with homes selling in the millions, and then torn down, we are adjusting to a huge increase in sales of homes over $1 million. In Quarter 3 of 2021, 47 of the total 197 single family homes sold, were priced above $1 Million dollars. ##### CLICK on '> Read More' for statistics and information supplied by VIREB for our zones.

Arrow graphic Read more

MARKET UPDATE: September 30 /2021

Courtesy NANCY SMITH and VIREB

Here on Vancouver Island, November usually heralds in winter with our harshest weather. If we will get snow and ice, the worst is usually in November, so the impact on our daily lives is quite significant. This year will be especially notable as we have enjoyed the longest driest summer weather in our memories. Vegetation, streams and water reserves have suffered the lack of our normal precipitation. In the home sales market, we have also seen a drought in listings, as it seems many people have locked down in their homes while health authorities struggle with the Covid pandemic. The local Central Vancouver Island sales volumes have been good, but not keeping up with demand. People having to make moves in the real estate market, are experiencing major price increases, even a 33% annual jump in Qualicum Beach/Parksville benchmark price. Local residents and even the real estate agents are struggling to cope with the phenomenal price increases. As we have gazed across Georgia Strait at the inflated Greater Vancouver market, with homes selling in the millions, and then torn down, we are adjusting to a huge increase in sales of homes over $1 million. In Quarter 3 of 2021, 47 of the total 197 single family homes sold, were priced above $1 Million dollars. ##### CLICK on '> Read More' for statistics and information supplied by VIREB for our zones.

Arrow graphic Read more

BUYER DEMAND CONTINUES TO OUTSTRIP SUPPLY

Courtesy NANCY SMITH and VIREB February 2021

CLICK on "Read more" for up-to-date February Market UPDATE. >>> Homes above and below the $1 million mark are experiencing multiple offers without sales conditions, meaning cash offers with no building and other inspections. Anyone needing to carry a mortgage is strongly advised to have a mortgage broker on speed-dial, and be pre-approved. This is especially important in the Oceanside area where REALTORS, Brokers and consumers can not project the incredible pace and jumps in real estate prices.

Arrow graphic Read more

There are No Single Family Homes for Sale

Affordability is the Challenge as 2020 Ends.

A couple of years ago, there were plenty of single family homes for sale in our area, below the $600,000 level, which is prompting people to speculate that "prices have to come down, this is not affordable". Some buyers are blaming the Realtors for pushing up prices.

Arrow graphic Read more

Homes Listing Shortage

The Buyers Are Looking, But the Sellers Are Not Interested

Not much good news to add to our current real estate market. Latest listing numbers are at an all-time low, even with the increased building activity. Normal market listings range between 500 to 600 homes, but currently, today's (Oct 18/2020) listings TOTAL 315 units. Many of the homes currently on the market have languished for a number or reasons, the main one is location and ranchers are popular with our mature generation. With the construction of Berwick Retirement Home, which currently has a waiting list, this movement from homes to Berwick, inventory was quickly gobbled up. Under construction in Parksville is an even larger facility, and many new homes, apartments and condos are adding inventory, but not fulfilling the need for move-in ready ranchers in good locations. Contact me if you are planning to move into our area or change homes, and I will help you with all phases from market evaluation, market inventory and tips to ease the process. Thank you for visiting our website and if I can be of further assistance, I am just one phone call, email or message away.

Arrow graphic Read more

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.

Arrow graphic Read more

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.

Arrow graphic Read more

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.

Arrow graphic Read more

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.

Arrow graphic Read more

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.

Arrow graphic Read more

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:

Arrow graphic Read more

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.

Arrow graphic Read more

Listings by Community

Video Tours

Search by Price

Price:
 
Sort order:
Results/page:

Listings by Type

Nancy's Picks

Community Info

Community Resources

Community Videos