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Nanaimo Real Estate as of May 2012 - What’s selling & for how much?

Nanaimo Real Estate as of May 2012 - What’s selling and for how much?

The Nanaimo real estate sales numbers are in for the month of April, 2012. 

How do you analyze 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.

Nanaimo real estateHere’s the type of real estate that sold in Nanaimo in April 2012 (source VIREB):

Property Type    Number of unit’s        Average price

Single Family            114 units                  $368,181.

Condo (Apt)               29                             $225,407                        

Condo (Patio)               3                           $229,000

Condo (Townhouse)    17                            $240,000

Lots                               4                           $210,000

The single family home market unit sales were up a whopping 31% over April 2011.  However, prices were down by 2% the condo market unit sales were also up by 21% and unit sale price was up by 8% and townhouse sale prices were down by 17%. These numbers reflect a busier market in 2012.  More buyers out buying homes.  However, they are paying less for a home or condo than they would have spent last year.

 Overall the market is fairly steady for this time of year.  It is good to see a spike in unit sales for both single family homes and condos..

 I would be happy to speak with you about the state of the Nanaimo real esate market.  Please give me a call.

 

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