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Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – July 2019

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – July 2019

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in July 2019.

 

Greater Victoria

In July 2019, there were 283 sales of single family homes and 992 active listings in Greater Victoria. The benchmark sale price was $756,000.

In comparison, the Condo market had 215 sales and 619 active listings at the end of the month. The benchmark sale price was $511,000.

Townhome sales were 89, active listings were 235 and the benchmark sale price was $602,200.

It’s a seller’s market in Greater Victoria.

Parksville / Qualicum

Nanaimo

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Parksville, Nanaimo, Vancouver Island and the Gulf Islands?

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area.

Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

 

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – June 2019

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – June 2019

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in June 2019.

Greater Victoria

In June 2019, there were 343 sales of single family homes and 1034 active listings in Greater Victoria. The benchmark sale price was $754,200.

In comparison, the Condo market had 216 sales and 643 active listings at the end of the month. The benchmark sale price was $511,200.

Townhome sales were 79, active listings were 258 and the benchmark sale price was $597,900.

It’s a seller’s market in Greater Victoria.

Parksville / Qualicum

Nanaimo

Looking for more information about the real estate market in specific neighborhoods in Victoria, Parksville, Nanaimo, Vancouver Island and the Gulf Islands?

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – May 2019

Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – May 2019

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in May 2019.

Greater Victoria

In May 2019, there were 387 sales of single family homes and 1058 active listings in Greater Victoria. The benchmark sale price was $756,000.

In comparison, the Condo market had 244 sales and 658 active listings at the end of the month. The benchmark sale price was $507,300.

Townhome sales were 92, active listings were 252 and the benchmark sale price was $595,900.

Parksville / Qualicum

Nanaimo

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Parksville, Nanaimo, Vancouver Island and the Gulf Islands?

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Congratulations to Sheila Aujla for her election yesterday as a new Director at VREB!

Sheila joins David Langlois from our Victoria office to fill two positions on a nine member board – the maximum number of Directors an Office is permitted to have on the Board of Directors.

We are very proud to have such high representation at this level of governance. This illustrates that our Office members have the skills and the confidence of their colleagues to guide the Board through these challenging times.

Congratulations again Sheila!

Active Victoria Real Estate Listings Slide Below 2,000 Mark | Times Colonist

Active Victoria Real Estate Listings Slide Below 2,000 Mark | Times Colonist

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With less than 2,000 active listings, Victoria’s real estate market remains firmly weighted in favour of the seller, according to data released Tuesday by the Victoria Real Estate Board.

There were 1,921 active listings at the end of last month, a drop from the 2,161 on the market in July 2016, which led to sellers getting excellent prices for their homes.

The median sale price of a single-family home in the region was $759,000 last month, a 14.3 per cent increase from the $664,000 recorded in July last year.

(more…)

Victoria ranked second in world for luxury real estate | CHEK News

Victoria ranked second in world for luxury real estate | CHEK News

A new report from Christie’s International lists Victoria as the second hottest luxury real estate market in the world.

When you think of a luxury home you probably picture a house on the ocean, or a large estate, but with the Victoria real estate market booming, the face of luxury is changing.

One townhouse in Oak Bay Village is about to go on the market for just over a million dollars.

“If this was a single family home we’d be talking about a much different number especially in today’s market,” said Jordy Harris, a realtor with Newport Realty.

Home prices, especially in desirable neighbourhoods like this one, have gone up.

“In the last three years has gone up by about 40 to 50 per cent,” said Ara Balabanian, President of the Victoria Real Estate Board.

And that may be why a new report from Christie’s International lists Victoria as the second hottest luxury market in the world, behind Toronto, and just ahead of San Francisco.

“Luxury can be something that is just over a million, and I say that with some respect, but our prices have risen to that point,” said Jack Petrie, Managing Partner of Newport Realty, a Christie’s International real estate firm.

While 2016 saw a big increase in homes that sold for a million or over, only a handful went above three million.

“We had approximately 16 homes in 2015, we had 20 homes sell in 2016,” said Balabanian.

The report lists offshore buyers, put off by Vancouver’s new foreign buyers tax, as one of the driving factors for the luxury sales boom, but local realtors aren’t seeing it.

“It’s not as if there was a sudden floodgate where all those buyers, foreign buyers, looking to buy in Vancouver, came over here, it just didn’t happen like that,” said Harris.

“It’s still a small component of the marketplace, it’s somewhere around 5 per cent,” said Balabanian.

They say the largest segment of home buyers remains locals, followed by those from elsewhere in Canada.

But if prices continue to soar, “luxury” may need to be re-defined.


 

The article was originally posted on CHEK News, May 10, 2017. Written by April Lawrence.