A spectacular spring market is the only way to describe Real Estate Sales in the Nanaimo area for May 2015. We’ve had month over month increases in sales volume and the number of homes sold, and the trend is continuing in the spring market stats for Nanaimo.
Single family sales
Single family homes are the main focus of our monthly statistics, (meaning the number I quote here don’t include Apartments, Townhomes, Manufactured Homes or Lot sales), and are the basis by which we regard the market in general. The spring market in Nanaimo for Single Family sales are up to 150 in May 2015 versus 124 in May 2014. This is an increase of 21%. The dollar volume of those sales has increased 30%.
5 spring market stats
It’s fine to say this is up and that is up, but what I take from the numbers is the fact that:
- The number of active listings is down – despite us selling substantially more homes this year than last
- The average price is up by 8% in May 2015 over May 2014
- The average price is up 6% on a 12 month average
- Number of days to sell is down to 30 in May 2015 against 39 in May 2014
- And the price a house sells for is 97% of list price in May 2015 compared to 96% in May 2014
Summarized spring market conditions
The spring market stats for Nanaimo (and The Comox Valley, Parksville/Qualicum, as well as Port Alberni/West) is strong. Sales continue at a brisk pace, prices and subsequently sales continue to rise at a reasonable rate and mortgage rates remain at all time lows. The market isn’t just good for one segment, it’s good for Buyers and Sellers and that keeps things balanced.
RE/MAX of Nanaimo
RE/MAX Of Nanaimo continues to exhibit an extremely strong market share which can only be accredited to the dedicated of professional REALTORS® who are a part of this dynamic team. If you are wondering what your house is worth, or what might be on the market that you can afford to buy, don’t hesitate to contact our office at 250-751-1223 or i[email protected] to speak with one of our outstanding agents.