Courtesy of Mary-Ann Kennedy

WAITING IS THE THEME OF VIREB’S SUMMER HOUSING MARKET

PARKSVILLE-QUALICUM

$514,100 apartment UP 1.9% year-to-year

$896,800 detached UP 1.2% year-to-year

$640,400 townhouse DOWN 2.7% year-to-year

BENCHMARK PRICES

57 TOTAL SOLD LISTINGS

houses and showings, but it’s decidedly more sluggish than we usually see at this time of year.” Yochim notes that well-priced, high-quality properties continue to garner multiple offers, but REALTORS ® are seeing more offers significantly below the asking price. “Inventory has risen considerably, and it’s been five years since active listings in the VIREB area were at this level, so buyers have more choice and more time to wait,” adds Yochim. “The same holds true for sellers, so there seems to be a waiting game going on.” The Parksville-Qualicum area saw its benchmark price increase by one per cent to $896,800. Stats Reflective of June 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.

July 2, 2024 - The Vancouver Island Real Estate Board (VIREB) recorded 737 unit sales boardwide (all property types) on the MLS ® System in June 2024. Active listings of single-family homes were 1,566 in June. VIREB’s inventory of condo apartments was 440 last month. There were 364 row/townhouses for sale last month. Jason Yochim, VIREB Chief Executive Officer, says the market is behaving differently than during a typical summer, and the expected boost from the recent interest rate cut hasn’t materialized. “Buyers and sellers seem to be holding back and waiting for some sort of indication that it’s a good time to make a move,” says Yochim. “REALTORS ® are conducting open

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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