Courtesy of Mary-Ann Kennedy

MORE INVENTORY BENEFITS BOTH BUYERS AND SELLERS

PARKSVILLE-QUALICUM

$530,700 apartment UP 7.0% year-to-year

$855,000 detached UP 3.2% year-to-year

$622,900 townhouse UP 1.0% year-to-year

BENCHMARK PRICES

64 TOTAL SOLD LISTINGS

May 1, 2024 - The Vancouver Island Real Estate Board (VIREB) recorded 741 unit sales board-wide (all property types) in April 2024. Active listings of single-family homes were 1,271 in April. VIREB’s inventory of condo apartments was 381 last month and there were 368 row/townhouses for sale last month. VIREB Chief Executive Officer Jason Yochim says that the spring market, which typically starts showing signs of life in February, is finally here. “Sales are up from March, and REALTORS ® are showing a lot of homes,” says Yochim. “Listings have also had a healthy boost, which is positive news, and sellers are responding to changing market conditions with price adjustments.” Yochim adds that Vancouver Island has experienced chronically

low inventory for several years, so additional listings benefit buyers and sellers. “More inventory means more choices for buyers, but sellers also need somewhere to go when their home is purchased,” says Yochim. “Additional listings are a win-win for everyone.” The board-wide benchmark price (MLS ® Home Price Index) of a single-family home was $774,700 in April 2024, up five per cent from one year ago. In the apartment category, the benchmark price was $395,300 last month, up two per cent from the previous April. The benchmark price of a townhouse in April was $545,100, up two per cent from one year ago. The Parksville-Qualicum area saw its benchmark price increase by three per cent to $885,000. Stats Reflective of April 2024 | Source: Vancouver Island Real Estate Board | Market values stated are of the benchmark of Parksville-Qualicum. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

Call me with all your real estate needs and questions.

Mary-Ann Kennedy Real Estate Agent, REALTOR ® Office 250.248.4321 | Cell 250.616.2332 maryann@maryannkennedy.ca maryannkennedy.ca

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