Nanoose Bay, Parksville, and Qualicum Beach Market Stats

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March 2018 Qualicum Beach Parksville Nanoose Bay Fairwinds & Area Real Estate Sales Market Snapshot - Part 2

Real Estate Market Snapshot for March 2018 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 March 2018 - 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 remains low. Pressure on the demand side has resulted in about 40% of listings selling in under 1 week with overall about 60% are sold in under 4 weeks. Single family home prices are up 17% over the past 12 months, patio-home condos up by 28% and building lots by 3%.

In it's budget delivered on Feb 20, the NDP minority government announced a variety of measures designed to reduce home prices primarily in the Lower Mainland. The 'speculation tax' is intended to stimulate rental availablity. It does not apply to the Qualicum Beach / Parksville area but does apply to the City of Nanaimo. The NDP also increased and expanded the province's foreign-buyers (non-Canadian resident) tax from 15% to 20% of sales value and applied this tax beyond Metro Vancouver to other regions of the province. Changes to the Property Transfer Tax have also been implemented that will impact only the higher-end luxury properties. Again, the Lower Mainland is the target but the changes cover all of BC. Since 1987 when the average home price in Vancouver was $187,000, the PTT has been 1% on the first $200,000 and 2% on the balance. New measures in February include an additional 3% tax on the purchase price between $2M and $3M and 5% over that. Very few properties in this region will be impacted by this change however. The 'speculation tax' has got some home-owners very concerned who own a second home in BC which they use for part of the year but their primary residence is outside of BC. Please keep in mind, that the new speculation tax does not apply to this area. Also, the speculation tax does not apply if the home is rented long term (over 6 months of the year). In addition, as of June 15 of 2018, the Superintendent of BC real estate is putting in place a host of changes to the way in which Realtors represent their clients in BC. Contact Tom for the details.


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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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