Courtesy of Mary-Ann Kennedy

UNCERTAINTY SURROUNDING TARIFFS HOLDING BACK BUYERS

PARKSVILLE-QUALICUM

$486,800 apartment DOWN 6.3% year-to-year

$879,400 detached UP 2.4% year-to-year

$636,800 townhouse UP 2.4% year-to-year

BENCHMARK PRICES

40 TOTAL SOLD LISTINGS

Nanaimo, March 3, 2025 - The Vancouver Island Real Estate Board (VIREB) recorded 493 unit sales (all property types) in February 2025, the same as one year ago. Active listings of single-family homes were 975 last month. VIREB’s inventory of condo apartments was 376 last month. There were 245 row/townhouses for sale last month. VIREB CEO Jason Yochim reports that sales of all property types in February were unchanged from one year ago. “Open houses are busy, phones are ringing, and REALTORS ® are showing homes, but some buyers are holding back, which we attribute to the economic uncertainty unleashed by threatened American tariffs that have now become a reality,” says Yochim.

“However, forecasts indicate that British Columbia won’t be affected as much as other parts of Canada. Vancouver Island is also somewhat insulated from any unpredictability around mortgage rates due to its large population of retirees, many of whom don’t require mortgages.” The Parksville-Qualicum area saw its benchmark price increase by two per cent to $879,400. Stats Reflective of February 2025 | 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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