Housing prices in Nanaimo

Not sure what the current housing prices in Nanaimo are? Are you interested in buying a home, but want to determine the current state of the real estate market in Nanaimo before beginning your search?

Look no further! The best indicator of housing prices in Nanaimo is for us to review the past years sales as well as trends in current home sales. VIREB- Vancouver Island Real Estate Board prepares monthly statistical reports to help consumers and REALTORS® assess market trends.

Based on VIREB stats there were 1124 single family units sold in 2010 and the average sale price in Nanaimo was $363,985. These numbers reflect an increase of 3% over 2009.

I have prepared a chart of the housing prices in Nanaimo, by neighborhood based on the information supplied by VIREB for 2010.

A chart like the one above helps make budgeting for a home purchase much easier. Knowing what the average housing price in Nanaimo neighborhoods are will make planning where to move based on your budget that much easier to do.

The national average sale price of a home in Canada is $350,000. Nanaimo is slightly above that average. I don’t think that most people living in Nanaimo make the decision to be here based solely on the cost of housing. No doubt that housing prices are a factor when one chooses to move to Nanaimo but not necessarily the main one. I think that lifestyle plays a key role in choosing to live here. Nanaimo offers mild temperatures, lovely scenery, a fine university as well as numerous leisure activities.

The steady stream of people moving into the area over the past couple of years have allowed housing prices in Nanaimo to remain strong.