Courtesy of Mary-Ann Kennedy

BALANCED MARKET OFFERS THE BEST OF BOTH WORLDS

PARKSVILLE-QUALICUM

$498,600 apartment DOWN 1.7% year-to-year

$896,400 detached UP 1.4% year-to-year

$642,000 townhouse DOWN 0.2% year-to-year

BENCHMARK PRICES

47 TOTAL SOLD LISTINGS

November 1, 2024 - The Vancouver Island Real Estate Board (VIREB) recorded 722 unit sales and 4,015 active listings (all property types) board-wide on the MLS ® System in October 2024. Active listings of single-family homes were 1,352 in October, up from the 1,157 posted one year ago. VIREB’s inventory of condo apartments was 366 last month. “We saw healthy sales increases in October, ranging from 36 per cent for condo apartments to 45 per cent for single-family homes,” says VIREB CEO Jason Yochim. “With an absorption rate of 18 per cent and around five months of inventory, the VIREB market is currently in balanced territory.”

Balanced markets with healthy inventory levels offer buyers and sellers the best of both worlds. Current listings aren’t flying off the market, but they’re also not lingering for too long. “It looks like we’ll close out 2024 on a good note, with about 7,400 sales, significantly higher than the 7,114 sales seen in 2023,” adds Yochim. The Parksville-Qualicum area saw its benchmark price increase by one per cent to $896,400. Stats Reflective of October 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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