The latest real estate statistics for the greater Parksville Qualicum Beach area are out and we feel that there has been an influence about what ‘was’ the proposed Speculation Tax by the Provincial Government. Please note that recently the Provincial Government has announced that the greater Parksville Qualicum Beach area will not be included in the proposed Speculation Tax. Given the unknown details and who and what would be affected by the tax it appears that the market slowed down until people got more clarity.
In the area for the 1st three month of the year we have seen 7% less listings than the same time in 2017 and a decrease in the number of sales by 21% and 33% for the month of March. Yet average sale price for the month of March (53 sales) was $667,542 which is an increase of 28% from March 2017.
The active inventory at the end of March remains the same as last year at 121 single family homes.
For the City of Parksville sub-region the number of listings are down 30% while the number of sales were down 45% for the 1st 3 months of the year. Active inventory at the end of the month was down slightly from the end of March 2017, 31 vs 33. The average sale price in March for single family homes was up 15% from March 2017, average sale price of $527,350 vs $458,627.
Now that it is very clear that the Speculation Tax will not be applied to the greater Parksville Qualicum Beach area we expect that the activity levels in the market will increase.
If you have any questions about your situation or statistics for different sub-regions in the area, or for different property style, do contact us at firstname.lastname@example.org or 250-468-1498 as we would be pleased to hear from you.
Make it a Great Day!
Rudi & Trish