Lynn's Blog

Nanaimo Real Estate market as at July 31 2017

Nanaimo Real Estate market as at July 31 2017

The real estate market in Nanaimo continues to be very active. Looking at the year-to-date sales as at July 31, 2017 as compared to July 31, 2016, there was a decrease of 4% fewer homes sold yet the average sale price for single family homes increased by 17%.

The average sale price for a single-family home at the end of July 2017 was $496,035 compared to $422,349. at the end of July 2016.

Average prices for other property types in Nanaimo, as of July 31, 2017:

  Lots   $214,949
  Condos (Apts)   $250,726
  Patio Homes   $387,571
  Townhouses   $293,684

For most of 2017 active listings were down and the number of unit sales were up over 2016. These numbers indicate that Nanaimo is continuing to experience a seller’s market.

This graph shows the number of single family homes sold by dollar amount for the first 7 months of 2017.


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