Nanoose Bay, Parksville, and Qualicum Beach Market Stats

Local Real Estate Market Statistics

For CURRENT 2022 Local Market Data - Scroll to Bottom of THIS PAGE

Courtesy NANCY SMITH and VIREB:
Market News

December /2022 is upon us and soon our children will be out of school and on the streets. Even though school zone speed limits do not apply during holidays, severe weather conditions and playground areas will require us to watch our speed. At the moment we can not add much real estate information than current statistics, because the market has changed and we are not sure of the direction. People will always need a place to live, and the more affluent will have greater choices. We are also very aware of people who are struggling to find affordable accommodation in the Oceanside area, and our local businesses are also struggling to find people to work at the retail level, the construction trades and in our restaurants. The worker shortage has actually affected local farms, manufacturing and other trades. The Bank of Canada has determined interest rates must rise, which also will affect mortgages and business loans for inventory and expansion. Oceanside area has always and probably will always attract the retirees and senior residents, as we have great year-round climate and limitless recreational opportunities. As in 2008, we are seeing a pause in real estate sales prices, meaning the upswing isn't as sharp, but we are not anticipating a huge downward adjustment, and definitely not returning to the 2019 price levels. Vancouver Island has always weathered market fluctuations when the rest of Canada and the USA have had their challenges. Again, we are not sure of this change in direction, but as usual, it probably will not be drastic.

Get Market News/Stats Delivered Monthly

Send Sales Stats To: Send Sales Stats To: Send Market Newsletter To:

Send