Tag Archives: BCREA

Local Real Estate Market Update August 2015

Nanaimo’s local real estate market was healthy throughout the summer and it looks as though the momentum is expected to continue into fall. It’s not unusual to see the listings and sales volumes decline in July and August. Despite sales volumes being slower than previous months, the volume remained VERY strong, particularly when compared to the same month last year.

August 2015 Market Highlights

You’ll be happy to know that prices continue to rise but at a very reasonable rate keeping our affordability very attractive, and giving homeowners the increase in equity they always want to see.

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Second Strongest June on Record for BC Home Sales

The British Columbia Real Estate Association (BCREA) reports sales that are recorded by the Multiple Listing Service® (MLS®). Their findings for BC home sales were that there was a total of 11,294 residential unit sales in June, that’s an increase of 25.6% from the previous June. That includes $7.1 billion in total sales volume – a 42.6% increase from the previous year and $631,962 average residential sales price – a 13.5% increase from the previous year.

BC home sales posted the second strongest June on record. A growing provincial economy and record low borrowing rates continue to push demand higher …” –  Brendon Ogmundson.

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