Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – November 2018

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in November 2018.

Greater Victoria

In November 2018, there were 222 sales of single family homes and 811 active listings in Greater Victoria. The benchmark sale price was $754,600 with an average days on market of 45. The hottest market for sales was Langford with 47 sales. There were also 15 sales and 127 active listings at the end of the month for waterfront homes.

In comparison, the Condo market had 152 sales and 411 active listings at the end of the month. The benchmark sale price was $493,400 with an average days on market of 35. The hottest market for sales was Victoria, 53 sales.

Townhome sales were 43, active listings were 191 and the benchmark sale price was $583,200. The average days on market were 40, and the hottest market was Saanich East with 12 sales.

It’s a seller’s market for homes and condos.

MarketHotSheet_November_2018_Victoria

Parksville / Qualicum

 

MarketHotSheet_November_2018_ParksvilleQualicum

Nanaimo

MarketHotSheet_November_2018_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.