Nanaimo real estate- What's selling?
This spring the Nanaimo real estate market is fairly balanced. However, with all the current inventory available there are certain areas and price ranges that are selling better than others.
I had a look at VIREB statistics for Nanaimo real estate sales for the month of March 2011. The following homes are selling faster and more frequently than others:
Single Family Homes -
North Nanaimo - Of the 63 homes sold in North Nanaimo in March- 32 of them (or 51%) were priced in the $350,000 to $450,000 price range
South Nanaimo - Of the 34 homes sold in South Nanaimo in March- 17 of them (or 50%) were priced in the $250,000 to $350,000 price range.
Departure Bay - Of the 29 homes sold in Departure Bay in March- 15 of them (or 52%) were priced in the $300,000 to $350,000 price range
Central Nanaimo - Of the 23 homes sold in Central Nanaimo in March- 15 of them (or 65%) were priced in the $250,000 to $350,000 price range
Nanaimo real estate statistics for condominiums is not quite as balanced as the single family market. In fact the condo market is a buyer's market at the moment. Last month saw 23 of the 250 listed units sold at an average sale price of $217,503. The average days to sell were 102 days which is 95% longer than this time last year.
If you would like more information on the current state of the Nanaimo Real Estate market please give me a call.