As we settle into a New Year, it’s exciting to look back and see what a great year it was for Real Estate in Nanaimo. Nanaimo is desirable, affordable, and our fair city continues to be asought-after place to live. Do you know how sellers and buyers faired in our city? Read more about the market update wrap up 2015 and find out what action you can take if you plan on selling in 2016.
Sellers have faired well this year. Prices on single family homes rose steadily through the year and so did demand for homes.
- The 12 month average shows 3% more homes single family homes listed in Nanaimo than the previous 12 months, yet the number of units sold grew by 16%.
- In the last 12 months the amount of time it took homeowners to sell also went down by 16% or 41 days on the market from 49 the year before.
Although Buyers have had to compete to get the home they want far more often this year, and they have been forced to make quicker decisions, the true wins for Buyers is the constant turnover of inventory and continued AMAZING interest rates from lenders who want their business.
What can you take from all of this …
Market update wrap up 2015
The Buyers are out there, and they are hungry to make a purchase, but homes that don’t show well, and aren’t priced right will stay in the inventory unsold. Get great advice from a REALTOR® who is in the heat of a busy market to make sure you are poised to get the best you can.
Contact a REALTOR® who knows the ins and outs of the market, is familiar with the inventory, and who can get the job done. Ask your REALTOR® for an introduction to a Mortgage Professional and get your pre-approval in place so you are ready to make an offer when the perfect opportunity presents itself.
RE/MAX of Nanaimo is the leading Real Estate Brokerage in Nanaimo. We have GREAT REALTORS® who are ready to help and guide you through the buying and/or selling process with experience, knowledge and professionalism.