Nanoose Bay, Parksville, and Qualicum Beach Market Stats

Local Real Estate Market Statistics

Qualicum Beach Parksville Area Real Estate Market Summary JUNE 2020 - Update for July Data

This is the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Market Snapshot of Home Sales for JUNE 2020 – Click HERE for News::
Market News

JULY UPDATE -> Go to Market News TAB, click on Market News and scroll down for VIREB July update. thank-you ( To VIEW the STATS in chart form, SCROLL down this page.) VIREB (Vancouver Island Real Estate Board) switched to a new property data and REALTOR user system at the end of July/2020. As a result, the new MATRIX system has been adopted from the Victoria area and applied to the rest of Vancouver Island (VIREB). This conversion process has left VIREB REALTORS scrambling to serve their clients,to process listings and sales documents. At the moment, STATS for VIREB are produced in a slightly different format? As all hands on deck are busy assisting REALTORS, we will attempt to figure out how to proceed on our website with providing real estate NEWS and STATS. Hopefully we will configure our site to provide relevant information and explanations to assist our users. Please contact us if you feel we have not provided information helpful for your needs. To read Current STATS updated to the end of June, please continue.

Overall in JUNE, the median sale price of single family homes was $590,000(compared to May @ $695,000). The average sale price was $637,948 (May @ $695,170) (not including waterfront or acreages). The average sell price is up a whopping 11.5% compared to $572,055 in JUNE 2019. Fourteen(six last year) patio-home condos sold on average for $482,409($442,351), only four(10 last year) apartment condos sold for average $275,975($320,505 in 2019) and five townhomes sold in JUNE, for huge average $551,080(($475,917 in 2019). Only two building lots sold in JUNE with an average sell price of $72,950. Current inventory is at 38 lots overall in the local region.

The single family homes sales sell/list ratio was significantly up at 62% compared to 43% in JUNE 2019. Single family home listings are low at 183 homes, which is 49 units lower as at this time last year. Listings of all other property types are at the similar levels as at this time last year except townhouse condo homes, which have risen slightly from 24 listings to 29 currently.

Due to the COVID-19 restraints, volume had dropped significantly from 2019, specifically in single family and patio homes, but this JUNE, there has been a significant jump, not just from the past several months, but up from 2019 too. Single family homes jumped 19 homes, from 50 to 69, and patio homes jumped 8 units, from 6 to 14(up 127%). There has been a general increase in days to sell for single family homes 24 to 47 days, mostly due to the lag since the pandemic influence. The final days of June were a hive of activity.

We noticed a large drop in our website visitors during the first three weeks of the COVID-19 shutdown, but in the past week with talks of opening up, website visits have doubled pre-COVID-19 levels. The demand and interest for buyers who want to move here, especially in retirement, for both the milder climate & better lifestyle, had paused. Sellers who generally either want to downsize or relocate are still making inquiries and they are listing their homes. Some people have no choice but to move for work and other reasons will need to sell and buy, so the home sales market must continue.

The years 2020-25 will see a large increase of people reaching retirement age. Better life expectancy and financial well-being of this generation will challenge the traditional expectations of retirees and will disrupt consumer, service and financial markets (The Economist). Certainly here, retirees drive our local economy along with tourism. Retirees keep the trades people busy with home renovations & new home construction and most often transactions require no mortgages, with resources to improve and personalize homes.

The BC speculation tax does not apply to the Qualicum Beach/Parksville area. Some people 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 investing now, can be part of a retirement strategy.

If you go to the ‘Market News’ tab, you will see the graph in Part 1 showing single family home sale pricing over time & see for yourself how it has ‘leveled off’ since July of 2018 compared to the previous four year climb.

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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