--> Watch the video above to view the last 12 month home price averages compared to the year prior for Parksville, Qualicum Beach, Nanoose, and Nanaimo.
Both Supply and Demand have affected home prices rising over the last year. We are now seeing more inventory on the Market overall; which is bringing us into a more balanced market for most real estate markets on the mid-island.
The mortgage stress test and rising interest rates have also affected the market by making it more difficult for buyers to qualify for mortgages.
There was quite a range in single family home prices depending on area, however all prices went up compared to the year prior.
Parksville (lowest price) - $545,241
Nanaimo (all of zone 4) - $558,848
Qualicum Beach - $669,041
Nanoose - $726,934
Fairwinds (highest price) - $899,265
The lowest price for an apartment and patio home was in Parksville.
The lowest price for townhome was in Nanaimo.
The highest price for a townhome was in Parksville.
I have included some charts below to see the average sold price over the last 12 months compared to the year prior.
Wardrobe in video: Obakki Foundation Scarf. 100% of proceeds go to water wells in South Sudan. Show your support here: https://obakkifoundation.org/campaign/scarves-water/