Nanoose Bay, Parksville, and Qualicum Beach Market Stats

Local Real Estate Market Statistics

December 2017 Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Real Estate Sales Market Snapshot - Part 2

Real Estate Market Snapshot for December 2017 of the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Single Family Home Sales This is the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Market Snapshot of Home Sales for December 2017 - Click for Part 1 – market news

Sales in the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area real estate market see a wave of Boomers retiring to the region while at the same time the supply of available listings has remained lower than usual all year. Pressure on the demand side has resulted in about 30% of listings selling in under 1 week and overall about 55% are selling in under 4 weeks. Single family home prices are up 14% over the past 12 months, patio-home condos by 20% and building lots by 23%. In 2017, overall listings of all categories were down by 12%. However, listings were down by 27% when comparing just the month of December to the same month in 2016. The number of sales of single family homes were down by 15% in 2017 and building lots by 36%. It is interesting to see that the number of homes sold for over $1M in the local area was up by 32% as compared to 2016.

In December, the average length of time to sell a single family home was 23 days. However, many sell within a couple of days and many with multiple offers. The list to sell ratio was 98%. A lack of inventory has meant properties are selling faster and for more money. Consumer demand is high and buyers are snapping up well-priced properties very quickly once they hit the market which can be frustrating for buyers. Consumers have to be ready to make an offer when that preferred property is found. So if you are in a position to buy then I suggest you make your move. There is no reason to expect real estate pricing to drop at least in the near term, as this region is so highly desirable. There have been some price reductions though (especially at this time of year) as sellers become concerned about trying to initiate a sale during the slow winter sales season. There has been a continued trend this year and last, with a number of people 'cashing out' of the Lower Mainland market and buying over here. For many, it's time to escape the Lower Mainland traffic. The difference in real estate pricing between here and there is huge! Sell there if you can and buy here for much much less. That's the big win! Plus the quality of life here is so very good. Walking and biking trails are everywhere and it's a golfers and gardeners paradise here! Events in our local small towns wouldn't be what they are without the level of enthusiastic volunteerism that exists. So come join in and get involved! We are only an hour and a half ferry ride or a 25 minute plane ride away from the big city of Vancouver for those who want to visit family and friends while perhaps taking in some of those world-class city amenities. Couple that with being a 2 hour drive from Victoria or Tofino and being located within a 'stone's throw' from the enchanting Gulf Islands and Discovery Islands for day trips, makes this a highly desirable place to retire to and enjoy life. That's the really big win! - See Part 1 - Click under above graph.


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Home Pricing Trends

Monthly home pricing market trends reports covering each month 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 covering each month 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.

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