Courtesy of Mary-Ann Kennedy

MARCH HOUSING MARKET CALMER THAN EXPECTED

PARKSVILLE-QUALICUM

$526,900 apartment UP 3.6% year-to-year

$867,300 detached UP 2.4% year-to-year

$626,000 townhouse UP 0.2% year-to-year

BENCHMARK PRICES

37 TOTAL SOLD LISTINGS

Yochim adds that a contingent of buyers is waiting to see what the Bank of Canada will do with interest rates. The board-wide benchmark price (MLS ® Home Price Index) of a single-family home was $765,600 in March 2024, up five per cent from one year ago. In the apartment category, the benchmark price was $395,000 last month, up two per cent from the previous March. The benchmark price of a townhouse in March was $545,200, up one per cent from one year ago. The Parksville-Qualicum area saw its benchmark price increase by two per cent to $867,300. Stats Reflective of March 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.

April 2024 – Last month, the Vancouver Island Real Estate Board (VIREB) recorded 655 unit sales board-wide (all property types). The number of active listings of single-family homes was 1,084 last month. VIREB’s inventory of condo apartments was 324 in March 2024, and there were 333 row/townhouses for sale last month. “As we reported last month, there is a lot of interest among potential buyers,” says Jason Yochim, VIREB Chief Executive Officer. “REALTORS ® are definitely busy, although the statistics don’t reflect that. We expect it will be June before the numbers catch up with pent-up demand.”

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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