Nanaimo Real Estate as of June 1 2014 - What’s selling & for how much?
The Nanaimo real estate market is still humming along. According to the current absorption rates we are still experiencing a sellers' market .
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 stats 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 2014 (source VIREB):
Property Type Number of unit’s Average price
Single Family 125 units $370,123.
Condo (Apt) 26 $218,765
Condo (Patio) 5 $284,960
Condo (Townhouse) 14 $251,393
Lots 6 $158,917
The single family home, unit sales were 2% higher than May 2013. Prices were up by 4% in the condo market and unit sales were also up by 37%. Townhouse unit sale prices were up by 1% but townhouse unit sales were down by 12%.
These numbers indicate more sales overall compared to May 2013 with prices slightly higher in almost all property types.
For additional information regarding the Nanaimo Real Estate Market please contact me or visit my Nanaimo real estate statistics page.