07/09/2026
🏡 "Pricing your house based on what your neighbour thinks it's worth is still a bold strategy."
Let's look at what the market is actually doing.
One question I've been hearing a lot lately is:
"Are we in a buyer's market?"
The short answer... not yet.
Right now, Parksville and Qualicum are sitting at 4.7 months of inventory for single-family homes. A buyer's market generally starts around 6 months, so we're still in balanced market territory.
But here's the part the numbers don't tell you.
From my experience representing buyers and sellers this year, buyers are looking for value.
If a home is priced too high, it usually sits. Buyers aren't rushing to write offers just because a home is available. They have options, they're comparing properties, and they're making sure the numbers make sense before moving forward.
On the flip side, if a home is priced well, there is still competition. I've been involved in several multiple-offer situations this year, so demand is definitely still there for the right property.
The biggest difference from 2021 is that buyers aren't throwing caution to the wind anymore. They're doing their homework, they're negotiating, and they're willing to walk away if the deal doesn't make sense.
To me, that's what a balanced market looks like.
Sellers can still achieve excellent results, but the strategy has changed. Pricing your home correctly from day one is far more effective than chasing the market with price reductions.
The market hasn't disappeared. It has just become more strategic.
After the roller coaster of the last few years, that's actually pretty refreshing.
If you're wondering what your home is worth or how the current market affects your plans, we'd be happy to chat.
🏡 Wesley Yule & Christine Lupul PREC
The Local Team | RE/MAX First Realty
Our Results Will Move You.
