April 2023 Mid-Vancouver Island Update in 60 Seconds

Here is another mid-Vancouver Island update, this time for April 2023, given to you in 60 seconds or less! LET'S GET AT IT!!! 

Still in the thick of the spring market here in Parksville/Qualicum and Nanaimo. People are certainly looking to buy, but there is still minimal inventory for them to look at. Also, buyers are very discerning when it comes to properties, so anything overpriced based on condition will sit on the market a little longer. Really well-priced properties or those seen as very desirable are still seeing strong buyer action and multiple offers in some cases. 

Prices are still coming down on mid-Vancouver Island when looking at it compared to last year. As we move along in 2023 that price difference will become less and less as we have seen really good price stability since late 2022. 

As I mentioned above, listing inventory continues to be an issue for the mid-Vancouver Island market. April's active listings were the second least we have seen since 2013 outside of the really tight pandemic years. The overall lack of listings and the typically strong demand we see here on mid-Vancouver Island have really helped in keeping our market stable. 

If you have any questions about the market here on mid-Vancouver Island, don't hesitate to reach out. I'm always happy to help!