Vancouver Island Real Estate Stats - December 2019
At The Fenton Team we believe it is important to provide both investors, and homeowners, useful information about the Vancouver Island real estate markets. This information should serve as a key pillar in any real estate decision making process, whether it be buying or selling.
Using data provided by the Vancouver Island Real Estate Board we have broken down what we believe to be key metrics for good real estate decision making on Vancouver Island. We have separated the information into the communities of Port Alberni, Ucluelet, Tofino, Parksville/Qualicum, Courtenay, Campbell River, Nanaimo, and Duncan . The statistics below are for single family homes only, and cover the month of November 2018 and 2019.
We believe that Median Sale Price best represents the value of a typical house (rather than Average Sale Price). The average days on the market tells us how quickly homes are typically selling if priced correctly. The Sale : List Price ratio tells us how closely homes are selling to their asking price. Finally, comparing the number of homes listed, and the number of homes sold, gives us a picture of supply and demand, which is critical in understanding where the market is at, and where it might be going.
The statistics are provided below and key interpretations are provided below. If you would like any further interpretation from The Fenton Team’s CEO Chris Fenton on any given statistic, please comment below and he’ll be more than happy to help.
Port Alberni: Detached single family home sales dropped by a total of 6 sales this month while the average sale price has increased by 2.17% in compared to December 2018. The average sale price to list price ratio has dropped 1% compared to last year which can be attributed to the changing market as it continues to transition into a more balanced market.
Ucluelet: Similar to last December, this December in Ucluelet there was also only 1 single single-family home sold. With only one sale there is insufficient data to compare any trends with the average price of homes being sold. Although the sale price to list price ratio has remained the same showing that houses are selling for 96.8 % of the asking price.
Tofino: Similar to Ucluelet, Tofino had only 1 sale of single-family detached homes in December of 2019 which sold at 92.3% of the asking price.
Parksville/Qualicum: Sales remained strong through December 2019 with an increase of 1 sale for detached single family homes compared to 2018. The average sale price to list price ratio also increased 0.4 percent up to 96.4%
Courtenay: Sales of detached single-family homes dropped by a total of 7 sales through December 2019 compared to December 2018. The average sale price to list price ratio also dropped 0.8%. Courtenay was a very hot real estate market in 2018 and December 2019 has been now different then the rest of the year as the real estate market continues to balance out.
Campbell River: Campbell River has also seen a decline in total detached single-family home sales from 16 in December 2018 down to 12 this December. The average sale price to list price ratio dropped by only 0.3% and remains strong at 97.6%.
Nanaimo: The most noteworthy change in Nanaimo was a drop of 1.1% for the average sale price to List price ratio. As the market in Nanaimo continues to balance out sellers are having to accept less to make a deal.
Duncan: Last month total sales of detached single-family homes has dropped to half the amount it was in December of 2018 and continuing a trend we have been seeing for the last 3 months. The good news in Duncan if you are a seller is that the average sale price to list price ratio increased by 1.7% to 98.7%.
Port Alberni Stats
|Median Sale Price||$385,000||$362,000|
|Average List Price||$386,950||$374,078|
|Average Sale Price||$368,437||$360,635|
|Sale : List Price||95.2%||96.4%|
|Average Days on Market||26||41|
|Median Sale Price||$653,000||$735,000|
|Average List Price||$675,000||$759,000|
|Average Sale Price||$653,000||$735,000|
|Sale : List Price||96.7%||96.8%|
|Average Days on Market||10||344|
|Median Sale Price||$830,000||$0|
|Average List Price||$899,000||$0|
|Average Sale Price||$830,000||$0|
|Sale : List Price||92.3%||0.0%|
|Average Days on Market||159||0|
Parksville-Qualicum (Oceanside) Stats
|Median Sale Price||$540,000||$580,000|
|Average List Price||$636,211||$643,373|
|Average Sale Price||$613,441||$617,860|
|Sale : List Price||96.4%||96%|
|Average Days on Market||23||64|
|Median Sale Price||$500,000||$509,000|
|Average List Price||$560,941||$533,656|
|Average Sale Price||$547,835||$525,676|
|Sale : List Price||97.7%||98.5%|
|Average Days on Market||58||30|
Campbell River Stats
|Median Sale Price||$422,500||$420,000|
|Average List Price||$425,666||$469,093|
|Average Sale Price||$415,298||$459,268|
|Sale : List Price||97.6%||97.9%|
|Average Days on Market||74||52|
|Median Sale Price||$515,000||$477,500|
|Average List Price||$568,062||$517,456|
|Average Sale Price||$549,949||$5505,508|
|Sale : List Price||96.8%||97.7%|
|Average Days on Market||51||45|
|Median Sale Price||$561,000||$582,000|
|Average List Price||$643,085||$595,220|
|Average Sale Price||$634,535||$577,190|
|Sale : List Price||98.7%||97%|
|Average Days on Market||58||45|
*The MLS stats are provided by the Vancouver Island Real Estate Board and include all single family homes sold on the MLS market in Port Alberni, Ucluelet, Tofino, Parksville Qualicum Courtenay, Nanaimo and Duncan.
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