The real estate Market in Parksville-Qualicum offers a unique blend of community living and natural beauty, making it a sought-after location for families, retirees, and investors alike. July 2023 has come and gone, and with it, new statistics have emerged, giving us an updated snapshot of the local market trends. Here's what you need to know about Parksville-Qualicum's real estate landscape as we move deeper into 2023. Single Family Unit Sales In July 2023, a total of 50 single-family units were sold in Parksville-Qualicum. This represents a slight drop compared to the previous month, when 60 units were sold, and also a modest decline from 53 units sold in July of last year. While the numbers have come down, it's essential to put these statistics in the context of market stability, as noted by Chris Fenton, CEO of The Fenton Group and LoyalHomes.ca, who commented, "The market continues to be relatively steady...supply and demand are very much in line with what we saw from 2017 to 2020 before the pandemic." Active Listings and Inventory There were 115 active listings for homes on the market in July 2023. This represents approximately 3.5 months of inventory, signalling a balanced market. Typically, 4-6 months of inventory is considered a balanced market, so the Parksville-Qualicum area slightly leans toward a seller's market. Average Sale Price The average sale price for single-family homes in July 2023 was $1,027,203, marking an 8.77% increase from July 2022. This suggests that despite a drop in the number of units sold, the properties that did change hands commanded a higher price than the previous year. Benchmark Prices Interestingly, according to the Vancouver Island Real Estate Board, the Single Family Benchmark price in July 2023 was $890,300, a decrease of 2.9% compared to the same period 12 months ago. This dip contrasts with the increased average sale price and indicates a more nuanced picture of the market, perhaps suggesting that a few more significant sales in July skewed the Average Sale Price numbers for July 2023.  Other Property Types Apartments: The benchmark price for apartments in July 2023 was $515,700. Townhouses: For townhouses, the benchmark price was set at $451,900 in the same period. Final Thoughts Chris Fenton sums it up aptly: "The market continues to be relatively steady after a very sluggish end to 2022. Supply and demand are very much in line with what we saw from 2017 to 2020 prior to the pandemic and the unusual market activity that followed." The July 2023 Parksville-Qualicum real estate stats indicate a market that is balancing out after the whirlwind changes brought about by the pandemic. The region remains a desirable location with a robust, though slightly cooling, property market. Keep an eye on these numbers as we continue through the year, especially if you are looking to buy or sell property in this picturesque community. Stay tuned for more updates on Parksville-Qualicum real estate!