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
|Median Sale Price||
|Average List Price||$422,560||$313,550|
|Average Sale Price||
|Sale : List Price||96.8%||95.5%|
|Average Days on Market||40||60|
|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|
|Median Sale Price||$750,000||$125,000|
|Average List Price||$789,000||$1,024,999|
|Average Sale Price||
|Sale : List Price||95.1%||91.5%|
|Average Days on Market||220||65|
|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||
|Median Sale Price||$613,000||$560,000|
|Average List Price||$612,617||$617,239|
|Average Sale Price||$603,647||
|Sale : List Price||98.5%||98.5%|
|Average Days on Market||66||59|
Campbell River Stats
|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|
|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|
|Median Sale Price||$598,395||$500,000|
|Average List Price||$598,325||$495,100|
|Average Sale Price||$578,099||
|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.