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

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

Greater Victoria

In October 2018, there were 244 sales of single family homes and 885 active listings in Greater Victoria. The benchmark sale price was $765,300 with an average days on market of 40. The hottest market for sales was Saanich East with 47 sales. There were also 14 sales and 147 active listings at the end of the month for waterfront homes.

In comparison, the Condo market had 180 sales and 405 active listings at the end of the month. The benchmark sale price was $495,600 with an average days on market of 33. The hottest market for sales was Victoria, 63 sales.

Townhome sales were 70, active listings were 211 and the benchmark sale price was $588,900. The average days on market were 52, and the hottest market was Langford with 13 sales.

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

MarketHotSheet_October_2018_Victoria

Parksville / Qualicum

 MarketHotSheet_October_2018_ParksvilleQualicum

Nanaimo

MarketHotSheet_October_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.