Nanoose Bay, Parksville, and Qualicum Beach Market Stats

Local Real Estate Market Statistics

Qualicum Beach Parksville Area Average-Mean Price, August 25/2020

This is the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Market Snapshot of Home Sales Year-to-Date August 25/2020 – Click HERE for News::
Market News

Sept 02/2020 Median Price update for single family detached homes in Parksville/Qualicum Beach area: $594,250 in 2019 year to date, vs $629,950 for 2020. When considering selling or purchasing a home, people reference neighborhood prices to value a particular property. It is also important to differentiate not only features and benefits of a particular property, but more important is location, location and location. A quick reference is an understanding of the difference between local average prices verses the median price. Average price vs Median price Average: add the total value of all homes sold and divide by the number of homes. Median: is the central number between the highest and lowest sold price, excluding price abnormalities.

The problem with the average sale price is that if one or more properties were sold at an extraordinarily high or low price, the average is skewed higher or lower as a result. ... The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high.

In Parksville/ Qualicum area, the sale of waterfront properties consistently pushes the average price higher than the median price. A few multi-million dollar sales make the market seem more valuable than the bulk of sales. Therefore the median price is a better reflection of the general market in the area, which has been fairly consistent around the $600,000 mark, whereas the average price stimulate sellers to ask for a higher price than their property is actually worth.

As seen in this chart, due to Covid-19 the market volume dropped but prices remained fairly consistent until July. August data is not complete as today is the 25th, and some of the frantic end-of-August market activity will not show up until the September data.

Home Pricing Trends

Monthly home pricing market trends reports back to 2006.

Download all the information you need on home pricing trends for Nanoose Bay, Parksville, and Qualicum Beach and area in a single PDF, found below.

Monthly Home Sales Prices

Monthly home sales reports back to 2006.

Whether buying or selling, refer to up-to-date monthly property sales information for Nanoose Bay, Parksville, and Qualicum Beach and area during the past year.