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Qualicum Beach, BC Canada
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Real Estate Market Update April 2019 Qualicum Beach Parksville Area Vancouver Island, BC

Home > Market News > Real Estate Market Update April 2019 Qualicum Beach Parksville Area Vancouver Island, BC

April 2019

  • Photograph of Tom Whitfield
  • Parksville Qualicum Beach REALTOR®
  • Published: Jun 7th, 2019 at 10:25 am

The real estate market has ‘levelled out’ in terms of pricing and has become more of a balanced market. At least for now, gone are the double digit price increases & unsettling multiple offers that we have seen during the past 3 years. Specifically in April, the median sale price of single family homes was $578,000 with an average sale price of $662,136 (not including waterfront or acreages). This is up by 8% compared to April of 2018. Again for April, patio-home condos sold on average for $457,222, apartment condos sold for $270,155 & townhomes averaged $497,500. Only 1 building lot sold in April for $299,000. However, current inventory has jumped to 37 lots which is up considerably over April of last year. The list to sell ratio for single family home sales was 97% in April. Listings of single family homes is up by 46% & in all types by 33% when compared to April of last year. 

Locally, this is a small real estate market in a great locale.

Buyers want to move here, especially in retirement, for both the milder climate & better lifestyle. Sellers generally either want to downsize, move to another home with an ocean view that they didn’t have before, or to relocate back to where their kids & grandkids live. Here, we see a great gray wave of Boomers (more like a gray tsunami...) retiring to the region. Retirees drive the local economy along with tourism. Retirees keep the trades people busy with home renovations & new home construction. The 'elderhood market' is now known as the new silver economy. This will have a dramatic effect on society, with tremendous business opportunities that emerge from this burgeoning demographic.

A balanced real estate market trend in the Qualicum Beach Parksville area has emerged with single family home & condo sale price increases having moderated or 'levelled off.' If you go to the ‘Market News’ tab on my website you will see the graph in Part 1 showing single family home sale pricing over time & see for yourself how it has ‘levelled off.’

 At RE/MAX Anchor in Qualicum Beach & at RE/MAX First in Parksville, our full-time REALTORS have the highest number of sales per REALTOR when compared to our local competition.

 Outstanding Agents…Outstanding Results.

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