Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in October 2020.
Find all the infographics related to the February Market Statistics by visiting the Facebook Album.
Greater Victoria
According to the Victoria Real Estate Board “A total of 990 properties sold in the Victoria Real Estate Board region this October, 59.9% more than the 619 properties sold in October 2019 and 0.1% more than the previous month of September 2020. Sales of condominiums were up 70.8% from October 2019 with 304 units sold. Sales of single-family homes were up 53.1% from October 2019 with 487 sold.”
“Once again, another month concluded with numbers that surprised many of us,” said Victoria Real Estate Board President Sandi-Jo Ayers. “Sales for October broke the record for the month and inventory continues to be snapped up quickly. Due to this high demand, low supply environment, we are seeing many multiple offer situations. Condos and single family homes both continue to be popular choices for buyers.”
Nanaimo
Parksville / Qualicum
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 [email protected] 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.
