Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Real Estate Market Update

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Strong Seller’s Market Continues in September 2017

  • Photograph of Tom Whitfield
  • Parksville Qualicum Beach REALTOR®
  • Published: Oct 7th, 2017 at 4:39 pm

There were 233 active listings of all types at the end of September, a drop of 14% from last September. Single family listings were down 21% compared to last September. This led to sellers getting excellent prices for their properties. Low inventory and high demand continues to put pressure on pricing. The median sale price of a single family home in the local area was $566,000 (not including waterfront or acreages). As single family home prices increase, more buyers are switching to the more affordable condos thereby pushing condo sale prices up too. The median sale price of a patio-home style condominium was $421,900. The median sale price for building lots was $285,000.

Sales in the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area real estate market for September resulted in about 50% of homes being sold in less than 2 weeks and about 60% selling in 1 month. The average length of time to sell a single family home was 20 days. However, many sell within a couple of days and 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 overall as this region is so highly desirable. Typically in the fall though, we do see numerous price reductions as sellers get concerned about nearing the end of the really active sales season.

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