Nanaimo Real Estate as of June 1 2012 - What’s selling & for how much?
How does one analyze the state of the Nanaimo real estate market? This is a very important question for both buyers and sellers. For buyers looking at real estate in Nanaimo the main concerns are price, selection and timing. For people selling their Nanaimo home the important factors are timing, level of inventory (competition) on the market and how much they can ask for their home. I hope the following figures, stats and graphs may assist both buyers and sellers in making real estate buying and selling decisions.
Here’s the type of real estate that sold in Nanaimo in May 2012 (source VIREB):
Property Type Number of unit’s Average price
Single Family 109 units $349,554.
Condo (Apt) 23 $192648
Condo (Patio) 10 $289,520
Condo (Townhouse) 18 $271,188
Lots 6 $162,280
The single family home, unit sales were identical to May 2011. However, prices were down by 8% the condo market unit sales were also down by 28% and condo unit sale prices were down by 17% and townhouse sale prices were down by 12%.
These numbers indicate fewer sales overall compared to May 2011. Prices are considerably lower over all property types.