Nanaimo Real Estate - What’s selling and for how much?

Nanaimo Real Estate - What’s selling and for how much?

 

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.

 

Here’s the type of real estate sold in Nanaimo in August (source VIREB):

 

Property Type    Number of unit’s        Average price

Single Family            110 units                  $365,537

Single Family (Water)   3                           $493,167

Condo (Apt)               14                          $248,882                                

Condo (Patio)               4                           $287,000

Condo (Townhouse)    14                            $264,646

Lots                            1                            $85,000

 

As you can see from the numbers above the single family home market was fairly strong in August.  However, the condo, townhouse, patio home market was soft.

 

Next we will have a look at what single family home sales took place by Nanaimo neighbourhoods.  The following three areas of Nanaimo experienced the most sales- 1.  North Nanaimo, 2. South Nanaimo  3.  Departure Bay.

 

Finally we will have a look at what the average selling price per Nanaimo neighbourhood was in August.

 

The above information on the Nanaimo real estate market should assist both buyers and sellers with their due diligence.  For additional information on the Nanaimo real estate market please give me a call.