The media has been reporting a change in the market and that there are considerably less sales of real estate this year than last year. The statistics at the end of April certainly confirm this as in the greater Parksville Qualicum Beach area we have seen 15% less sales of Single Family Homes during the first 4 months of the year when compared to the same time in 2017. However please note that sale prices remain strong and the average price of what has sold has increased by 22%. Average sale price of homes that sold in the first 4 months is $628,294. Interestingly enough the average number of sales in April were only down 3% compared to 2017 though the average sale price in April was $611,880 – less than the 4 month average and yet up 14% from April 2017.
Personally we have noted a ‘shift’ though unsure what the shift was. However during the last couple of weeks the market has been more active and we are thinking the ‘shift’ was a pause. This pause may have been a result of tightening mortgage rules as well as the Province’s announcement of Speculation Tax – now known not to be directly affecting the Parksville Qualicum Beach region.
We welcome any questions that you may have and would be pleased to discuss your situation or any questions that you may have. Contact TeamW at firstname.lastname@example.org or 250-468-1498.