The May 2007 statistics for the Parksville/ Qualicum Beach area were released on June 1st by VIREB. It shows a 34% increase in unit sales of single family dwellings over April with an average price decrease of 2%. The average price of $373,567 for May 2007 was up 18% over May 2006. Unit sales were also up 16% over last year to 94 from 79. The median price for May 2007 was 333,000.
Other areas of VIREB did not fair as well with price increase ranging from -.5% to 17% over May 2006. Campbell River, the average price was down very slightly at less than .5%, while Nanaimo was up 17%. The Comox Valley was up 9%, Duncan at 12% and Port Alberni at 8%.
While the average price in Parksville/Qualicum Beach was higher than Duncan ($347,678) the median price was lower by $4000.00.
Port Alberni has the most affordable housing at an average price of $203,666 on 56 unit sales (median price was $189,000) for May 2007.
Source: Multiple Listing Service® (MLS®) sales data from the Vancouver Island Real Estate Board.
*Median Price: An actual sale at or immediately adjacent to the midpoint in a price group. In the case of an even number of sales, the median is the highest price in the lower half of that price group. If the total number of sales is an odd amount, the midpoint sale is taken to be the median (i.e. 9 sales, sale no. 5 represents the median).