Lynn's Blog

Nanaimo real estate- What's selling?

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:

Nanaimo real estateSingle 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.





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