Canadian real estate boom

Renewed optimism for 2021

Long popular with Hong Kong residents and investors alike, the Vancouver Island real estate market is busier than ever with buyers from across Canada and around the world snapping up single family homes and condominiums. The current situation is highly competitive, with most properties receiving multiple offers and many over the listed price. Inventory is dramatically lower than demand and the resulting unprecedented complications currently facing the industry have not been seen in the history of Vancouver Island.

Vancouver Island (excluding Victoria)

  • 302 single family homes sold
  • Average price: $587,085 (up 10% from 12 months to date, this year over last)
  • Single-family unit sales volume is up 16%
  • Average days on market increased by 12% to 46 days
  • The average condo sold for $360,875
  • Condo unit sales are up 3%, 12 months to date
  • Condos have seen a 16% increase in days on market
  • Average days to sell is 56 days
  • Lot sales volume is up 75%
  • Lot prices have decreased by 1%, 12 months to date
  • Average lot sale price: $294,881

Nanaimo

  • 91 single family homes sold
  • Average price: $616,588 (up 10% 12 months to date, this year over last)
  • Single family unit sales volume is up 13%
  • Average days on market increased by 0% to 34 days
  • The average condo sold for $368,319
  • Condo unit sales are up 6%, 12 months to date
  • Condos have seen a 47% increase in days on market
  • Average days to sell is 51 days
  • Lot sales volume is up 65%
  • Lot prices have decreased by 6%, 12 months to date
  • Average lot sale price: $326,150

Parksville/Qualicum

  • 43 single family homes sold
  • Average price: $687,987 (up 12% 12 months to date, this year over last)
  • Single family unit sales volume is up by 26%
  • Average days on market increased by 20% to 42 days
  • The average condo sold for $402,549
  • Condo unit sales are down 3%, 12 months to date
  • Condos have seen a 15% increase in days on market
  • Average days to sell is 51 days
  • Lot sales volume is up by 176%
  • Lot prices have increased by 12%, 12 months to date
  • Average lot sale price: $330,469

Pacific Bell Properties

Based in Hong Kong, our team is available with more information and/or assistance putting a plan together.

Pacific Bell International Limited
2/F, 41 D’Aguilar Street, Central, Hong Kong SAR, China
Tel: +852 2594-0219

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