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Real Estate Market Update for August

Home > Market News > Tom’s Blog > Real Estate Market Update for August

Strong Sales Continue Through August

  • Photograph of Tom Whitfield
  • Parksville Qualicum Beach REALTOR®
  • Published: Sep 7th, 2016 at 6:08 pm

The real estate market in the Qualicum Beach Parksville Fairwinds area of Vancouver Island stayed strong during August with about the same sales dollars and number of homes sold in August as in July and June. Real estate sales on Vancouver Island have been very strong and it seems the aging boomers really got going on their retirement plans this year. Here, our local communities are quite small and with higher than usual sales volume, our inventory of homes being offered for sale has been all but wiped out. The strain of low inventory causes prices to go up with homes being purchased as soon as they hit the market, if priced realistically. With the drop in oil prices, fewer Albertans have been in a position to buy real estate here this year. However, buyers from the Lower Mainland have been coming in much larger numbers than usual. Tourism is way up this season. Due to the lower dollar, way more Americans are here, along with Canadians staying on this side of the border. This is a great boost to our local economies! See ‘Market Statistics’ under the ‘Market News’ tab here for more....

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