Needle in a haystack: 2 PQB homes listed for less than $200,000

Lowest-priced home in area listed for $153K

It’s not easy to find a home for under $200,000 in B.C., but there are a couple just barely under that number in the Parksville Qualicum Beach area.

There are two homes, both trailers on Martindale Road. The most expensive is a three-bedroom, two-bathroom single-wide manufactured home for $199,000. The most affordable home listed in the area is for $153,000, which will get you three bedrooms and one bathroom.

International real estate portal Point2 compiled active housing listings from across Canada during the first week of May and found about 10 per cent of them landed below the $200,000 mark

Across the 17 B.C. cities included in Point2’s report, an average of 0.16 per cent of their housing inventory was listed below $200,000.

READ MORE: Needle in a haystack: Less than 1% of homes in B.C. cities listed below $200,000

Kelowna boasted the highest number of homes under the benchmark price at 0.96 per cent. From there, it dropped to 0.46 per cent in Surrey (majority manufactured homes), 0.27 per cent in Delta and 0.26 per cent both in Nanaimo and Abbotsford. Langley offered 0.23 per cent of its homes under $200,000, followed by Richmond and Coquitlam each at 0.17 per cent.

There were no homes listed under the benchmark price in nine B.C. cities, according to Point2, including Burnaby, Vancouver, North Vancouver, Maple Ridge, Port Coquitlam, Victoria, Saanich, New Westminster and Chilliwack.

Throughout Canada, the largest supply of homes under $200,000 existed in the prairies and Atlantic Canada, Point2 found. In Cape Breton, an impressive 44 per cent of homes listed at the start of May were priced under $200,000. The percentages were similarly high in Regina at 36.5 per cent, Saint John at 26.7 per cent and Lethbridge at 26.1 per cent.

Home prices across Canada are projected to drop in the coming year as interest rates rise. What impact, if any, that has on the number of homes under $200,000 is unknown.

— NEWS Staff, with files from Black Press

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