Parksville Qualicum Beach Real Estate Market Update for July 2021

 
By: PropertyGuys.com on Vancouver Island
 
 

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Parksville Qualicum Beach Real Estate Market Update for July 2021

The Average 12 Month to Date Sale Price increased by 22.88% from the previous 12 month period. The 12 Month to Date Average Sale Price was $781,915. There are 1.14 Months of Inventory of Single Family in Parksville-Qualicum. It is currently a Avg. Sellers Market. This month’s Inventory increased to 64 Active Listings. There were 80 units listed and 56 units sold.

  • Parksville Qualicum area saw its benchmark price increase by 34 per cent to $850,100.

“Unless demand drops significantly or more housing supply comes online through new construction, the needle for VIREB’s inventory situation will not move by much,” states Mackay. “BCREA, VIREB, and other real estate boards continue advocating with policymakers at the provincial and regional levels to speed up the development process so that municipalities can expand supply more quickly to meet demand.”

Source: Vancouver Island Real Estate Board – MLS® Statistics ​​​

Single Family Homes

The Average 12 Month to Date Sale Price increased by 22.88% from the previous 12 month period. The 12 Month to Date Average Sale Price was $781,915. There are 1.14 Months of Inventory of Single Family in Parksville-Qualicum. It is currently a Avg. Sellers Market. This month’s Inventory increased to 64 Active Listings. There were 80 units listed and 56 units sold.

PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.

Lots
The Average 12 Month to Date Sale Price increased by 29.75% from the previous 12 month period. The 12 Month to Date Average Sale Price was $396,319. There are 1.37 Months of Inventory of Lots in Parksville-Qualicum. It is currently a Avg. Sellers Market. This month’s Inventory increased to 37 Active Listings. There were 31 units listed and 27 units sold.
Apartment Condos
The Average 12 Month to Date Sale Price increased by 16.41% from the previous 12 month period. The 12 Month to Date Average Sale Price was $359,274. There are 1.22 Months of Inventory of Condos (Apt) in Parksville-Qualicum. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 33 Active Listings. There were 21 units listed and 27 units sold.
Townhouse & Patio Condos
The Average 12 Month to Date Sale Price increased by 13.71% from the previous 12 month period. The 12 Month to Date Average Sale Price was $520,315. There are 0.43 Months of Inventory of Condos (Twnhse & Patio) in the Parksville-Qualicum. It is currently a Strong Sellers Market. This month’s Inventory decreased to 9 Active Listings. There were 16 units listed and 21 units sold.
  • Seller’s MarketIn a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
  • Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
  • Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favorable, negotiating leverage, more time to search for a home, and better prices.

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