Parksville & Qualicum Home Values in February 2024

Avg Home Prices

Vancouver Island: $844,196 l North Island: $391,667 l Comox Valley: $947,555 l Cowichan Valley: $812,181 l Pacific Rim: $583,496 l Parksville & Qualicum: $1,064,865 l Nanaimo: $847,984 l Campbell River: $766,992 l Surrounding Islands: $580,000 l Chemainus: $620,000 l Cobble Hill: $872,500 l Cowichan Bay: $872,000 l Crofton: $653,000 l East Duncan: $823,850 l Honeymoon Bay: $809,750 l Ladysmith: $877,500 l Lake Cowichan: $624,667 l Mill Bay: $1,117,000 l Shawnigan Lake: $764,000 l West Duncan: $722,576 l Youbou: $450,000 l Kelsey Bay & Sayward: $375,000 l Port Hardy: $260,000 l Port McNeill: $540,000 l Central Campbell River: $641,571 l North Campbell River: $994,900 l South Campbell River: $715,000 l West Campbell River: $674,950 l Willow Point: $835,154 l Town of Comox: $914,294 l City of Courtenay: $780,250 l East Courtenay: $1,006,786 l North Courtenay: $1,407,450 l South Courtenay: $1,019,267 l West Courtenay: $662,500 l Crown Isle in Courtenay: $1,248,850 l Cumberland: $911,250 l Merville & Black Creek: $916,400 l Union Bay & Fanny Bay: $820,000 l Brechin Hill in Nanaimo: $515,000 l Cedar: $1,075,000 l Central Nanaimo: $643,067 l Chase River Area of Nanaimo: $756,300 l Departure Bay in Nanaimo: $871,286 l Diver Lake in Nanaimo: $828,967 l Extension area in Nanaimo: $520,000 l Hammond Bay in Nanaimo: $1,111,875 l Lower Lantzville: $935,000 l North Jingle Pot: $1,189,000 l North Nanaimo: $1,035,136 l Old City Nanaimo: $601,333 l Pleasant Valley in Nanaimo: $689,967 l South Jingle Pot in Nanaimo: $761,000 l South Nanaimo: $681,870 l University District in Nanaimo: $904,648 l Uplands in Nanaimo: $672,528 l Upper Lantzville: $1,366,500 l Bowser & Deep: $1,014,000 l Fairwinds: $1,321,650 l French Creek: $1,079,750 l Nanoose: $1,525,500 l Parksville: $929,070 l Qualicum Beach: $896,764 l North Qualicum: $880,000 l Alberni Valley: $720,000 l Port Alberni: $541,018 l Ucluelet: $783,000 l

Parksville & Qualicum Real Estate Market Reports

February 2024 Parksville and Qualicum Real Estate Insights by Jason Anson.

The Parksville & Qualicum real estate market in February 2024 showcases notable trends in home values and market activity. This report delves into the dynamics of the [parksville-qualicum-home-values-february-2024] market, examining listings, sales volume, pricing trends, and market efficiency. The current month observed a surge in units listed and a significant increase in sales, indicating a vibrant market environment. This introduction sets the stage for a comprehensive analysis of the Parksville & Qualicum real estate landscape, aiming to provide valuable insights for buyers, sellers, and investors.

Market Overview of February 2024

February 2024 has been an active month for the Parksville & Qualicum real estate market, with the Vancouver Island Real Estate Board reporting increases in listings and sales compared to the previous year. The overall health of the market is robust, driven by factors such as economic stability and attractive interest rates, affecting various segments including single-family homes and condos.

Detailed Analysis

Comparative Activity by Property Type for February 2024

Units Listed: Listings saw a 22.58% increase from the previous year, indicating a growing inventory.
Units Reported Sold: Sales rose by 27.78%, showcasing heightened market activity.
Average Sell Price/Unit: The average selling price experienced a 10.88% increase, reflecting rising home values.

This comparative activity underlines a market characterized by increased demand and competitive pricing, impacting both buyers and sellers.

Impact on Buyers and Sellers

The current market dynamics suggest a competitive environment for buyers, while sellers are benefiting from higher selling prices and faster sales. This section offers strategic advice for navigating the market effectively.

Regional Highlights

Focus on Parksville & Qualicum reveals specific trends, such as a significant increase in reported sales dollars, suggesting a healthy appetite for high-value properties in these areas.

Active Listings

The active listings count remains stable, providing a balanced supply that supports the current demand levels. However, the market is leaning towards sellers, given the faster sales pace and increasing prices.

Market Insights

Emerging trends include a heightened interest in sustainable and energy-efficient homes. Legislative changes and infrastructure developments are also influencing buyer preferences and market dynamics.

Listings and Sales Volume

The increased listings and sales volume indicate a robust market with active participation from buyers and sellers, signaling a positive outlook for the Parksville & Qualicum real estate sector.

Pricing Trends

The rise in average and median sale prices points to a market experiencing upward pressure on home values, driven by strong demand and limited inventory levels.

Market Efficiency

The reduction in days to sell and a high sell/list price ratio demonstrate a market where listings are moving quickly, often at prices close to or exceeding the asking price.

Additional Considerations

Financial Market Overview: Current financial conditions remain conducive to real estate investment, with low interest rates supporting buyer affordability.
Upcoming Trends Forecast: Anticipate continued market strength in Parksville & Qualicum, with potential shifts in buyer preferences towards sustainable living.
Sub-market Analysis: Detailed examination of specific areas within Parksville & Qualicum highlights the diversity in market activity and opportunities.

Conclusion: The Parksville & Qualicum real estate market in February 2024 is vibrant, with rising home values and active market participation. This report underscores the importance of understanding regional dynamics and market trends for making informed decisions. Whether you are buying, selling, or investing, the current market offers a range of opportunities.

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© 2024 - Jason Anson Personal Real Estate Corporation at eXp Realty. MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. Member of The Canadian Real Estate Association and more.