I am Melanie Peake, Realtor® with Royal LePage Parksville-Qualicum Beach Realty. We service Parksville, Qualicum Beach, Nanoose, Errington, Lantzville, and Nanaimo. You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community events. We truly care about our community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you! MLS® data updated every 5 minutes!!!
6 new thoughtfully designed townhomes, 3 bed, 3.5 bath in Parksville, BC . Priced $699,900 -$719,900 visit https://t.co/yCQXldeUbl
— Melanie Peake (@mel_real_estate) July 11, 2024
Listing Agent: Melanie Peake *PREC Royal LePage Parksville-Qualicum Beach Realty Co-Listing Agent: Blake Playford - Realtor eXp Realty pic.twitter.com/35RpIQ2cgz
New Price!970 Sea Fern Lane, Mudge Island, BC. MLS® 959657 $949,900.
slice of paradise offering the serenity of remote island living.Nestled amidst lush greenery, you'll find two separate dwellings, each with its own septic system.The main house (built in 1967, 973 sq ft) has had updates over the yearsMain House: 3 beds, 1 bath and the most beautiful Findlay Oval Wood StoveEnjoy summer meals with your family on the deck admiring the stunning ocean views.The cottage (built in 1986, 990 sq ft) has 2 levels (3 bed, 1 bath)Cottage has wood stove providing the perfect retreat for relaxation.Furnishings included, sold as isWorkshop has electrical panelGabriola Island ferry is 20 minutes from NanaimoMudge Island is boat only access (approx 5 min boat ride).New Listing1667 Stroulger Rd, Nanoose Bay, Vancouver Island. MLS® 954661. $5,449,000.4.25 acres, exquisite property includes the main house, detached games room, cottage and large shop.Nestled in a secluded, protected cove that offers the most incredible panoramic ocean views.Recently installed high-end windows allow natural light while framing the surrounding beauty.Brand new Septic system in 2024.Impressive granite island and brand new appliancesThe large covered patio just off the kitchenWarm yourself in the winter months with the ambiance of three cozy gas fireplaces - one in the kitchen, living room and office Find inspiration while working in the awe-inspiring office overlooking the mesmerizing ocean.renovated ensuite, featuring a west coast themed shower. Indulge in ultimate relaxation with a soak in the new, swim spa and hot tub, perfectly positioned overlooking the bay.Property has a mature orchard with various fruit trees and grape vines.Young kids and big kids alike will find endless amusement in the games room. The perfect space for games, card playing and movie watching.Your guests will be delighted to retreat to their very own private and cozy cottageThe property also features a spacious workshop (14" ceiling height)Today is November 20th, 2023 bringing you a market update for October 2023.
Provincially, the number of actual sales have slowed down mainly due to high borrowing costs. I am finding that buyers are being very cautious and many are waiting on the sidelines watching the market and interest rate announcements.
Looking at the Parksville and Qualicum Beach Zone 5 area - with a focus on single family detached homes:
In August 2023: there were 118 Active Listings; in September there were 160 and October was slightly higher at 168 active listings. This is showing that supply has grown with increased listings since the summer.
Now for the number of actual SOLD homes: There were 57 units reported sold in August 2023; 33 units sold in September; and 37 units sold in October. These stats are showing the actual number of sales have decreased since the summer.
In the month of October 2023, homes were selling for 97% of the list price. Most of the offers I have written for buyers in the last few months have had negotiating and have included subjects to give buyers time for their due diligence.
When we look a little further back and compare 12 months to date as of October 2023: the average sale price was $920,255 = down 6% from 980,493 the year prior.
Overall, supply has been increasing with sellers being somewhat flexible in prices. When we look at the 168 active listings on the market divided by the units reported sold 37 = this gives us 4.5 months of inventory in zone 5 for Single Family Homes. Generally a balanced market is 4-6 months of inventory, so we have moved into more of a balanced market.
So what does this mean for you? Buyers have more selection, listings are staying on the market a bit longer; and have some negotiation power.
If you are a seller, it’s important to be priced right and have to have your home ready for viewings. With more listings on the market, it’s most ideal to be in the top 2 regarding price and presentation.
If you have any questions regarding the current market, feel free to give me a call. I would be pleased to chat.
***All stats above are from the Vancouver Island Real Estate Board monthly stats reports.