The Fenton Team Real Estate News & Advice

Vancouver Island Real Estate BlogWelcome. This section of Just Listed Vancouver Island is meant as an information centre where you will find article written by professional real estate agents with The Fenton Team. 

It is our sincere hope that you will find our articles to be in-depth and useful, and not simply another real estate blog. We will be sharing articles about: the Vancouver Island real estate market; real estate news; community information for cities and towns across Vancouver Island; and information for other real estate agents wanting to learn. 

Please let us know if you have a question about a topic not yet listed in this section, and we’ll be happy to post an in-depth article for you on the topic right away.  

April 16, 2020

Buying, Selling and Financing a Home During the Pandemic

One thing is for sure, we’re living through a unique time! In the real estate world, we’re getting a lot of questions from clients about buying and selling real estate during this time of social distancing. In this video, Tomm Dool of TFT Buyer Associates get’s the answers to these important questions from industry leaders Chris Fenton of The Fenton Team, and Michelle Aston of Island Living Mortgages. 

We’re happy to report that homes can be, and are being, bought and sold safely in Port Alberni, Ucluelet, Tofino, and across Vancouver Island. If you have any questions about how to navigate the real estate business safely amid COVID-19, we’d love to answer them. Drop your questions in the comments section or give a call. We’re happy to help, and remember, #WeSellHomesVirtually! 

 

April 4, 2020

Vancouver Island Real Estate Stats - March 2020

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 March 2019 and 2020.  

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.

This months Vancouver Island's Real Estate Stats are very interesting and are very much affected by the Covid-19 Pandemic.  I was expecting to see a decrease in new listings and sales however this was not the case entirely.  We did see a drop in sales across the board almost ever community had less sales in March 2020 then in 2019.  Some were just more drastic then others.  However many communities saw a increase in new listings from 2019.    

Port Alberni:  In Port Alberni there was actually a increase in new listings in March 2020 compared to March 2019.  Total new listings went up to 56 from 41 the previous year.  However Sales of Single Family Homes decreased which was 50% last month compared to March of 2019.  Buyers may have lost their down payments in the stock market or something I have been hearing a lot from buyers is "I want to wait to see what happens"  of course there has been lots of speculation if prices will decline.

Ucluelet: Ucluelet follows the same sales trend as Port Alberni.  We can see there was about the same amount of new listings in 2020 compared to 2019 but sales are non existent.  Normally March would be right at the beginning of the tourist season on the West Coast and also the start of our Real Estate buying season.  However this year buyers are clearly more hesitant to purchase on the west coast.  Prices are also at a all time high so affordability mixed with low inventory, throw in the Covid-19 pandemic and you have your perfect storm for a decline in sales.   

Tofino:  The Market in Tofino continues to be sluggish.  Only 2 new listings of single family homes in March and zero sales of single family homes which is the exact same stats as 2019.  Once again Low inventory and high prices are putting a strain on buyers.  

Parksville/Qualicum:  Parksville and Qualicum followed suit with the expected Covid-19 trends.  There was both a decline in New single Family Homes listed and sales in March of 2020.  There was 20 less homes listed in March of 2020 compared to 2019 and the sale of single family homes dropped by 26.19%.  Meanwhile median sale price has increased 10.8%.   

Courtenay: The market in Courtenay was mostly similar to how things looked in Port Alberni.  Courtenay saw a increase in listings although only by 2 new single family home listings this past month compared to 2019 in March.  There was a decline in sales of single family homes of 33.34%.  Another notable figure is the Sale to List Price ratio, which jumped up to 99.1%!  So even though the average home sold was on the market for 86 days buyers are still needing to pay almost asking price.  

Campbell River:  The trend continues in Campbell River with a increase in New listings of single family homes and a decrease in sales of 26.19%.  Median Sale price dropped 1.7% but the average sale price increased by 6.5%.  Sale to list price ratio increased slightly to 98.9% which means supply is still an issue and there is a heavy demand for single family homes.  

Nanaimo:   Nanaimo has seen a similar percent drop in Single Family home sales to Port Alberni.  Sales of Single family homes in Nanaimo dropped 53.78 percent last month compared to the previous year.  Nanaimo was also the only community to have a drop in new listings.  Of the homes that did sell, they were only on the market for 18 days on average and sold at 99.2 of asking price.      

Duncan:   Duncan saw the sales of Single family homes fall by 40% and a increase in New listings by 13.51% last month compared to March of 2020.  Sale to list price ratio remains strong at 99% and days on market dropped to 25.  

By looking at the stats of Vancouver Island it is clear that Covid-19 is having a impact on Single Family home sales.  Although sales are down across the board it remains to be a hot market with homes selling on average at 98.7% of their asking price and only sitting on the market for a average of 38.6 days!  

 

Port Alberni Stats

  2020 2019
New Listings

56

41

Sales

16

32
Median Sale Price

$335,000

$297,000
Average List Price $361,831 $340,575
Average Sale Price

$352,625

$329,048
Sale : List Price 97.5% 96.6%
Average Days on Market  53 53

Ucluelet Stats

  2020 2019
New Listings 5

 6

Sales 0 5
Median Sale Price $0 $795,000
Average List Price $0 $1,042,980
Average Sale Price $0 $988,700
Sale : List Price 0% 94.8%
Average Days on Market  0 111

Tofino Stats

  2020 2019
New Listings  2

 2

Sales  0  0
Median Sale Price $0 $0
Average List Price $0 $0
Average Sale Price

$0

$0

Sale : List Price 0%  0%
Average Days on Market  0  0

Parksville-Qualicum Stats

  2020 2019
New Listings 72

92

Sales

31

42
Median Sale Price $600,000 $541,500
Average List Price $619,355 $586,764
Average Sale Price $611,256 $576,819
Sale : List Price 98.7% 98.3%
Average Days on Market 

19

29

Courtenay Stats

  2020 2019
New Listings

63

61

Sales 24 36
Median Sale Price $610,000 $558,500
Average List Price $622,483 $564,772
Average Sale Price $616,691

$557,299

Sale : List Price 99.1% 98.7%
Average Days on Market  86 46

Campbell River Stats

  2020 2019
New Listings 72

63

Sales 31 42
Median Sale Price $450,000 $457,800
Average List Price $505,274 $476,621
Average Sale Price $499,909 $469,396
Sale : List Price 98.9% 98.5%
Average Days on Market  34  27

Nanaimo Stats

  2020 2019
New Listings 200

221

Sales 55 119
Median Sale Price $585,200 $557,000
Average List Price $666,150 $590,444
Average Sale Price $660,794 $584,669
Sale : List Price 99.2% 99%
Average Days on Market  18 30

Duncan Stats

  2020 2019
New Listings 42

37

Sales 15 125
Median Sale Price $610,000 $522,119
Average List Price $618,746 $569,936
Average Sale Price $612,571

$563,970

Sale : List Price 99% 99%
Average Days on Market  25 35

*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.  

 

March 30, 2020

Covid-19 Mortgage Relief for Consumers

Mortgage Relief

It is clear that we are living through unprecedented times of economic turmoil and financial uncertainty.  Many of our community members have been either laid-off, forced to stay home or their business is suffering all because of the Covid-19 pandemic.  We at The Fenton Team have been helping our clients make smart Real Estate choices for over 15 years in the Alberni Valley and on the West Coast in Tofino and Ucluelet.  We know that for most, ourselves included, our mortgage payment is the single largest expense we have each month.  We work closely with our clients and understand the emotions many are feeling right now.  Thankfully some of our worries have been settled this week with the announcement from Canada’s big banks saying that Mortgage Relief is available for those who need it.

What is Mortgage Relief?  

Mortgage Relief is a temporary deferral of your monthly mortgage payment.  Mortgage deferral should not be confused with mortgage forgiveness as you are still required to payback the deferred portion of your mortgage.  Consumers are able to defer their mortgage payments for up to a total of 6 months.  It is important to remember that during this time interest will still accrue and the total will be added into the payments at the end of the deferral period or upon renewal of the mortgage loan at the end of its term.  

Will applying for Mortgage Relief affect my credit?  

At this time, it is still to be determined if deferring your mortgage payments will affect your credit score.  Experts have suggested that it would be unfair to punish consumers for trying to make wise financial decisions in times of duress.  However, it is up to the banks to change their internal systems to record the deferred payments differently, so the payments are not reported as “late or missed” to creditors.  “Certainly, do not assume that you will be granted a mortgage deferral and not pay your mortgage.  This will definitely affect your credit score” says Michelle Aston, Mortgage Broker with Dominion Lending Centers.  “You should absolutely arrange a deferral with your lender first and receive confirmation that the process has been completed”.  

Should I apply for a Mortgage Relief?  

Mortgage relief should be used as a last resort option.  Mortgage deferral is not a loan holiday and as interest will still accrue you will be left with a larger mortgage balance at the end of it.  So although you will receive a cash break today you will still pay for it in the long term.  If you can still afford your mortgage payments you should continue paying them to stay on track.  

How do I apply for Mortgage Relief? 

For more information on your Banks specific mortgage relief policies and to apply we suggest visiting their website.  Mortgage Relief is being offered from Canada’s 6 largest banks, which include TD Canada Trust, Royal Bank of Canada, Bank of Montreal, Scotia Bank, CIBC and National Bank. 

TD

Royal Bank of Canada

Bank of Montreal

Scotia Bank

CIBC

National Bank

 

What if my mortgage is not with any of the big banks but is with a monoline lender instead?  

Many Canadians have their mortgage through alternative mortgage lenders known as monoline lenders.  The questions arises will these smaller lenders be able to provide mortgage relief like the big banks outlined above?  Theses monoline lenders will be much more particular as to who they willing to grant relief too.  You should expect a lengthier application process and more inquisitive question into your financial hardship.  Just like with the big banks we suggest reaching out to your lender’s website or to your mortgage broker for more advice.  

 

If you have any questions or comments leave them in the comment box below and one of our team members will get back to you.  Stay safe, stay healthy and stay well!  

 

Posted in Real Estate News
March 25, 2020

COVID-19 Guidelines - The Fenton Team & TFT Buyer Associates

With the ever-evolving environment happening with the COVID-19 outbreak, the health and safety of our Realtors, Staff, Clients, and the Community is our highest priority. 

COVID 19 The Fenton Team

Our office is closed to the public, but our Realtors and staff continue to work remotely to ensure all of our clients needs are met in these difficult times. 

We are playing our part to help our community by practicing social distancing. Because we are a high-tech real estate business, we are offering: virtual meetings and consultations via phone, text, Google Duo and Google Meets. Whichever technology best suits you. 

Buyer Tours. Social distancing is critically important to our community right now. As a result we are offering Live Video Viewing whenever appropriate and possible. For clients who have a real need to purchase a home presently, we are offering private viewings on a case by case basis. 

Private Viewings. We are taking every possible measure to keep all parties safe including: 

  • Asking screening questions prior to accepting a showing with a Buyer’s Agent;
  • Asking Sellers to prepare the home with all lights on, and all blinds and interior doors open.
  • Arriving at the showing separately from your Buyer’s Agent;
  • Keeping 6’ (2m) away from your Buyer’s Agent;
  • Not touching anything within the home;
  • Providing feature sheets electronically;
  • Keeping the viewing as short as possible by asking questions via phone, or video chat, after the viewing. 

Open Houses. To keep our community safe, at this time we will not be hosting any Open Houses. However, nearly all of our listings have full Virtual Tours online. Once you have viewed the Virtual Tour online, please contact our Buyer’s Agents to ask any questions and to discuss how you can best proceed in buying the home.   

Digital Offers. Our business is already operating in a paperless format. All offers will be submitted, reviewed and signed electronically. We have all the necessary technology and can provide you any guidance and instructions you need. 

Finally, if you are reading this and we can help you in any way whatsoever, please do not hesitate to reach out to us. 

Posted in Health and Safety
March 14, 2020

Vancouver Island Real Estate Stats - February 2020

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 February 2019 and 2020.  

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: In February of this year we saw a much stronger real estate market then in February of 2019.  New listings and homes sold are both up.  There was 33 new single family homes listed and 21 single family homes sold in February 2020.  Median Sale price of single family homes is up 18.7% this past month compared to February 2019.  Single family homes are selling 2.7% closer to the asking price but sat for sale in the real estate market for 21 days longer this year.  

Ucluelet: In Ucluelet we only had 2 new single family homes listed and 1 completed sale.  In February 2019 there was also only one home sold however it is very interesting to compare the sale to list price ratios.  In February 2020 the home that sold,  sold for 6.5% closer to the asking price.  It's sale price was also 31.85% higher then the home that sold in February 2019.  With such little data we cannot necessarily compare apples to apples in this situation as there are several factors that could contribute to such a large difference in sale price.  

Tofino:  There were 2 new listings in February of 2020 in Tofino.  Other then that the market was very slow with zero single family homes sold.  February 2019 was the same in Tofino.  Let's up the spring means a more robust real estate market for Tofino and the West Coast.    

Parksville/Qualicum:  The market in Parksville and Qualicum saw a strong increase of 21 new single family home listing in February 2020 compared to 2019.  The biggest increase was in homes sold in the area.  We can see a jump from 17 homes sold in February 2019 compared to 41 here in 2020.  The sale to list price ratio dropped .7% in 2020 compared to 2019.  

Courtenay: Courtenay's market seems to be remaining strong and very similar to February 2019.  Sale to list price ratio is down .5% and the median sale price is down 4.8%.  It is looking like the Courtenay Market is beginning to slow down.  We can see homes are sitting on the market for 17 days longer compared to 2019.   

Campbell River: The Campbell River market continues to gain momentum.  We can see there was 68 new listings in February 202, compared to 47 in 2019 and single family homes sold was 40 in 2020 compared to 41 in 2019.  Average days on market was very similar with only a 8 day difference and median sale price was up $14,000.  

Nanaimo:   Nanaimo's real estate market is remaining strong and stable in 2020 compared to February 2019.  We can see almost all the statistics remained very similar with only some slight increases in 2020 compared to 2019, such as increases in homes listed and sold and a increase in median sale price of 6.18% 

Duncan: Duncan's Real estate market is following similar trends of Nanaimo and Campbell River.  The biggest statistics to notice is the average list price and average sale price have both dropped in 2020 compared to February of 2019.  However the sale to list price ratio has remained the same.  This means that homes are being listed at slightly lower prices but buyers are still paying the same percentage to the asking price.  At 98.7% this is the highest Sale to list price ratio of the communities we have outlined in this Vancouver Island Stats Report.  

 

Port Alberni Stats

  2020 2019
New Listings

33

29

Sales 21 15
Median Sale Price

$363,000

$295,000
Average List Price $386,428 $345,626
Average Sale Price

$376,767

$327,660
Sale : List Price 97.5% 94.8%
Average Days on Market  60 39

Ucluelet Stats

  2020 2019
New Listings 2

 3

Sales 1 1
Median Sale Price $675,000 $460,000
Average List Price $685,000 $499,000
Average Sale Price $675,000 $460,000
Sale : List Price 98.5% 92.2%
Average Days on Market  2 99

Tofino Stats

  2020 2019
New Listings  2

 1

Sales  0  0
Median Sale Price $0 $0
Average List Price $0 $0
Average Sale Price

$0

$0

Sale : List Price 0%  0%
Average Days on Market  0  0

Parksville-Qualicum Stats

  2020 2019
New Listings 65

44

Sales

41

17
Median Sale Price $580,000 $499,000
Average List Price $637,678 $580,470
Average Sale Price $621,551 $570,135
Sale : List Price 97.5% 98.2%
Average Days on Market 

49

47

Courtenay Stats

  2020 2019
New Listings

46

41

Sales 21 27
Median Sale Price $567,500 $595,000
Average List Price $633,214 $631,207
Average Sale Price $619,823

$621,334

Sale : List Price 97.9% 98.4%
Average Days on Market  69 52

Campbell River Stats

  2020 2019
New Listings

68

47

Sales 40 41
Median Sale Price $464,000 $450,000
Average List Price $494,089 $514,687
Average Sale Price $484,773 $504,254
Sale : List Price 98.1% 98%
Average Days on Market  50  42

Nanaimo Stats

  2020 2019
New Listings 143

137

Sales  83 79
Median Sale Price $550,000 $516,000
Average List Price $598,103 $574,348
Average Sale Price $588,393 $565,232
Sale : List Price 98.4% 98.4%
Average Days on Market  34 30

Duncan Stats

  2020 2019
New Listings 35

23

Sales 20 13
Median Sale Price $525,000 $513,700
Average List Price $507,005 $584,169
Average Sale Price $500,410

$576,687

Sale : List Price 98.7% 98.7%
Average Days on Market  28 54

*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.  

 

Feb. 10, 2020

Vancouver Island Real Estate Stats - January 2020

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 January 2019 and 2020.  

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:  January was a strong month in Port Alberni for new listings.  Port Alberni Single Family Home Listings went up over double from the amount of new listings in December.  Port Alberni has seen a huge increase in Average List Price and Average Sale price for Single Family Homes with prices over $100,000 more in January 2020 then in January 2019.  

Ucluelet: January was a slow a month in Ucluelet for sales of Single Family Homes. However we are seeing a increase in new listings from the previous 3 months, which is a good sign as we head into the final month of winter.  

Tofino:  January in Tofino was also slow for single family home sales but remains consistent with January of 2019.  There was also a increase in new listings which we hope is a sign that spring is around the corner.  

Parksville/Qualicum: January 2020 was a busy month in the Parksville and Qualicum areas.  There were 60 new single family home listings that came up on the market, which is a increase of 15 new listings from January 2019.  The January 2020 Sale to List Price ration remained the exact same as the January 2019 at a very strong 98.8% this shows that Sellers are getting and accepting offers very close to their asking price.  

Courtenay: Courtenay saw a decline in new single family home listings and sales in January 2020, compared with January 2019.  However the Average List Price and Sale Price has remained strong and the Sale To List Price ratio has remained steady at 98.5% when comparing January 2019, to January 2020.  

Campbell River: In Campbell River the biggest change to note when comparing January 2019 to January 2020 is a slight drop in the Sal to List Price ratio.  Another noteworthy stat in Campbell river is that the average days on market has doubled.  This tells us houses are sitting on market for twice as long as they were last year and sellers are need to accept offers slightly less then their asking prices this January.  

Nanaimo:   January 2020 has continued on a similar trend that we have been seeing in Nanaimo over the past few months.  Last month new single home listings and sales both went down when compared to January 2019.  But while sales are down, average sale price has increased by 5.09%.   

Duncan: In Duncan the sale to list price ratio has taken a big decrease in January 2020 compared to January 2019 dropping 2.5%.  However Average Sale price has increased 17.9% which is a very big increase.     

 

Port Alberni Stats

  2020 2019
New Listings

42

36

Sales 10 18
Median Sale Price

$365,000

$305,000
Average List Price $422,560 $313,550
Average Sale Price

$409,100

$299,473
Sale : List Price 96.8% 95.5%
Average Days on Market  40 60

Ucluelet Stats

  2020 2019
New Listings 4

 4

Sales 0  
Median Sale Price $0 $715,000
Average List Price $0 $707,666
Average Sale Price $0 $686,000
Sale : List Price 0% 96.9%
Average Days on Market  0 253

Tofino Stats

  2020 2019
New Listings  4

 2

Sales  1  2
Median Sale Price $750,000 $125,000
Average List Price $789,000 $1,024,999
Average Sale Price

$750,000

$937,500

Sale : List Price 95.1%  91.5%
Average Days on Market  220  65

Parksville-Qualicum Stats

  2020 2019
New Listings 60

45

Sales

23

27
Median Sale Price $549,900 $530,000
Average List Price $589,200 $594,629
Average Sale Price $581,914 $587,518
Sale : List Price 98.8% 98.8%
Average Days on Market 

46

53

Courtenay Stats

  2020 2019
New Listings

43

54

Sales 17 23
Median Sale Price $613,000 $560,000
Average List Price $612,617 $617,239
Average Sale Price $603,647

$608,034

Sale : List Price 98.5% 98.5%
Average Days on Market  66 59

Campbell River Stats

  2020 2019
New Listings 51

58

Sales 13 33
Median Sale Price $445,000 $458,000
Average List Price $499,584 $480,707
Average Sale Price $492,809 $476,162
Sale : List Price 97.6% 99.1%
Average Days on Market  74  23

Nanaimo Stats

  2020 2019
New Listings 123

175

Sales  41 78
Median Sale Price $535,000 $555,000
Average List Price $593,641 $564,196
Average Sale Price $580,361 $552,213
Sale : List Price 97.8% 97.9%
Average Days on Market  44 44

Duncan Stats

  2020 2019
New Listings 23

21

Sales 8 17
Median Sale Price $598,395 $500,000
Average List Price $598,325 $495,100
Average Sale Price $578,099

$490,264

Sale : List Price 96.6% 99%
Average Days on Market  130 48

*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.  

 

Jan. 6, 2020

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

  2019 2018
New Listings

18

24

Sales

8

14
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

Ucluelet Stats

  2019 2018
New Listings 1

3

Sales 1 1
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

Tofino Stats

  2019 2018
New Listings 1

1

Sales 1 0
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

  2019 2018
New Listings 32

22

Sales 17 16
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

Courtenay Stats

  2019 2018
New Listings

30

27

Sales 17 25
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

  2019 2018
New Listings 29

25

Sales 12 16
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

Nanaimo Stats

  2019 2018
New Listings 103

84

Sales 46 47
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

Duncan Stats

  2019 2018
New Listings 9

12

Sales 7 15
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.  

Dec. 3, 2019

Vancouver Island Real Estate Stats - November 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. If you would like an 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 Stats

  2019 2018
New Listings 40

26

Sales

10

29
Median Sale Price

$275,000

$320,000
Average List Price $343,559 $376,200
Average Sale Price

$334,200

$362,425
Sale : List Price 97.3% 96.3%
Average Days on Market  56

48

Ucluelet Stats

  2019 2018
New Listings 2

2

Sales 1 2
Median Sale Price $515,000 $635,000
Average List Price $534,900 $534,500
Average Sale Price $515,500 $516,250
Sale : List Price 96.4% 96.6%
Average Days on Market  173

89

Tofino Stats

  2019 2018
New Listings 0

3

Sales 0 3
Median Sale Price $0 $2,700,000
Average List Price $0 $2,980,000
Average Sale Price $0

$2,700,000

Sale : List Price 0% 90.6%
Average Days on Market  0 254

Parksville-Qualicum (Oceanside) Stats

  2019 2018
New Listings 66

84

Sales 31 51
Median Sale Price $565,000 $590,000
Average List Price $684,164 $633,901
Average Sale Price $663,383 $614,591
Sale : List Price 97.0% 97%
Average Days on Market 

44

41

Courtenay Stats

  2019 2018
New Listings

29

57

Sales 17 27
Median Sale Price $500,000 $435,000
Average List Price $600,852 $523,551
Average Sale Price $572,964 $512,792
Sale : List Price 95.4% 97.9%
Average Days on Market  67 35

Campbell River Stats

  2019 2018
New Listings 49

38

Sales 22 27
Median Sale Price $505,000 $425,000
Average List Price $496,427 $499,359
Average Sale Price $488,352 $487,117
Sale : List Price 98.4% 97.5%
Average Days on Market  66 45

Nanaimo Stats

  2019 2018
New Listings 109

131

Sales 54 85
Median Sale Price $575,000 $534,000
Average List Price $604,496 $577,522
Average Sale Price $586,982 $565,956
Sale : List Price 97.1% 98.0%
Average Days on Market  41 32

Duncan Stats

  2019 2018
New Listings 25

26

Sales 13 20
Median Sale Price $642,000 $474,000
Average List Price $587,353 $484,269
Average Sale Price $574,000

$477,339

Sale : List Price 97.7% 98.6%
Average Days on Market  39 29

*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.  

Nov. 1, 2019

Vancouver Island Real Estate Stats - October 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 October 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. If you would like an 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 Stats

  2019 2018
New Listings 27

47

Sales 12 33
Median Sale Price $280,400 $360,000
Average List Price $349,512 $477,595
Average Sale Price

$337,162

$456,072
Sale : List Price 96.5% 95.5%
Average Days on Market  39

39

Ucluelet Stats

  2019 2018
New Listings 2

4

Sales 1 2
Median Sale Price $540,000 $619,000
Average List Price $545,000 $638,943
Average Sale Price $540,000 $617,000
Sale : List Price 99.1% 96.6%
Average Days on Market  12

71

Tofino Stats

  2019 2018
New Listings 2

3

Sales 1 3
Median Sale Price $2,395,000 $667,000
Average List Price $2,395,000 $843,000
Average Sale Price $1,900,000

$772,333

Sale : List Price 79.3% 91.6%
Average Days on Market  281 24

Parksville-Qualicum (Oceanside) Stats

  2019 2018
New Listings 120

97

Sales 28 65
Median Sale Price $550,000 $590,000
Average List Price $616,703 $729,695
Average Sale Price $603,582 $697,697
Sale : List Price 97.9% 95.6%
Average Days on Market  36

49

Courtenay Stats

  2019 2018
New Listings

45

58

Sales 15 35
Median Sale Price $554,317 $482,000
Average List Price $595,586 $562,894
Average Sale Price $582,741 $552,249
Sale : List Price 97.8% 98.1%
Average Days on Market  51 39

Campbell River Stats

  2019 2018
New Listings 52

44

Sales 13 38
Median Sale Price $515,000 $414,000
Average List Price $490,553 $439,507
Average Sale Price $470,184 $431,373
Sale : List Price 95.8% 98.1%
Average Days on Market  63 44

Nanaimo Stats

  2019 2018
New Listings 163

199

Sales 58 94
Median Sale Price $542,500 $520,000
Average List Price $587,553 $567,165
Average Sale Price $571,300 $558,558
Sale : List Price 97.2% 98.5%
Average Days on Market  37 33

Duncan Stats

  2019 2018
New Listings 26

31

Sales 16 32
Median Sale Price $529,000 $525,000
Average List Price $563,843 $562,815
Average Sale Price $536,762

$553,756

Sale : List Price 95.2% 98.4%
Average Days on Market  51 35

*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.  

Oct. 30, 2019

Vancouver Island Real Estate Stats - September 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 September of 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. If you would like an 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 Stats

  2019 2018
New Listings 41

33

Sales 22 26
Median Sale Price $372,000 $280,000
Average List Price $516,513 $342,831
Average Sale Price $487,704 $330,724
Sale : List Price 94.4% 96.5%
Average Days on Market  55 58

Ucluelet Stats

  2019 2018
New Listings 8

0

Sales 4 3
Median Sale Price $849,000 $610,000
Average List Price $913,250 $761,000
Average Sale Price $860,125 $685,666
Sale : List Price 94.2% 90.1%
Average Days on Market  56

148

Tofino Stats

  2019 2018
New Listings 0

1

Sales 1 0
Median Sale Price $927,500 $0
Average List Price $999,999 $0
Average Sale Price $927,500 $0
Sale : List Price 92.8% 0%
Average Days on Market  42 0

Parksville-Qualicum (Oceanside) Stats

  2019 2018
New Listings 127

117

Sales 66 64
Median Sale Price $565,000 $598,000
Average List Price $638,051 $735,787
Average Sale Price $619,319 $716,771
Sale : List Price 97.1% 97.4%
Average Days on Market  40

34

Courtenay Stats

  2019 2018
New Listings 59

52

Sales 31 37
Median Sale Price $580,000 $533,400
Average List Price $669,983 $576,059
Average Sale Price $658,605 $568,975
Sale : List Price 98.3% 98.8%
Average Days on Market  50 41

Campbell River Stats

  2019 2018
New Listings 76

48

Sales 46 47
Median Sale Price $480,000 $425,000
Average List Price $503,473 $460,204
Average Sale Price $499,599 $454,456
Sale : List Price 99.2% 98.8%
Average Days on Market  39 40

Nanaimo Stats

  2019 2018
New Listings 195

196

Sales 99 115
Median Sale Price $524,500 $527,000
Average List Price $565,153 $586,362
Average Sale Price $552,119 $578,787
Sale : List Price 97.7% 98.7%
Average Days on Market  32 29

Duncan Stats

  2019 2018
New Listings 32

41

Sales 23 19
Median Sale Price $539,000 $489,000
Average List Price $553,555 $517,536
Average Sale Price $543,676 $505,078
Sale : List Price 98.2% 97.6%
Average Days on Market  49 26

*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.