The video above provides market stats for January 2021 for the areas of Parksville, Qualicum Beach, Nanoose and Nanaimo. We have been in an intense sellers market over the past couple of months. Our inventory levels are the lowest they have been over the past 10 years! In January last month for single family homes in Zone 5, we had 50 Active Listings and 38 sold homes; which equates to 1.31 months of inventory available. The Sell to List Ratio was 98.89% - which essentially means that the majority of single family homes are selling very close to the listed price (or over asking). This has been a great market for sellers.
On the flip side, if you are a Buyer in this market, it's very important to work with your mortgage specialist to know what you are pre-approved for. Also, be ready to look at homes quickly and to write offers quickly. Buyers are definitely having to be more aggressive now than in previous markets. Feel free to give me a call any time to chat about the market! ~ Melanie