The Nanaimo Monthly Real Estate Market Stats provide a snapshot into what’s happening in the Nanaimo Real Estate Market. Find out where the market has slowed down and where it’s keeping pace. 

– Total units sold and how many homes sold in your neighborhood?
– Number of days to sell 
– Average sale price

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VIREB, Market Stats, REMAX of Nanaimo, October 2017

Market Update Summerized

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area.

Monthly Nanaimo real estate market stats that analyze the Vancouver Island real estate market north of the Malahat. These Nanaimo real estate market stats can be useful in establishing trends when applied over a period of time. Keep in mind that the information does not indicate the actual value of any particular property.


Find out what your home may be worth in today’s market.

If you require specific information on property values please contact one of our REALTORS®or call (250) 751-1223.

Sept 2017, Market Stats, Nanaimo Real Estate

September 2017 Nanaimo Market Update

The September 2017 Nanaimo Market Update shows 511 single-family properties sold on the MLS® System compared to 527 last September, a decrease of three per cent. Sales declined by five per cent from August, which saw 540 single-family homes change hands. Nanaimo Market Update September 2017 However, as in previous months, we attribute these slight […]

Real Estate Market Stats, Nanaimo, Real Estate, Homes Sold In Nanaimo

Nanaimo Real Estate Market Update August 2017

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area. Monthly Nanaimo real estate market stats that analyze the Vancouver Island real estate market north of the Malahat. These Nanaimo real estate market stats can be useful in establishing trends when applied over a period of time. Keep in mind that […]

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area. Find out what your home may be worth in today’s market.Nanaimo Real Estate Market Update July 2017

For more information about the Nanaimo Real Estate Market or to connect with an experienced Real Estate Agent, call us at 250-751-1223

Stats source: VIREB

It’s probably not news to anyone, but the average single family home price in Nanaimo and area continues to rise.  To put it in perspective, April of 2015 showed a median single family home price at $370,000 and April of 2017 is showing a median single family home price at $480,000.00. Read more in the Nanaimo real estate market update.

Nanaimo Real Estate Market Update

Buyers

The good news for Buyers is that the inventory levels in the Single Family Home category have started to creep up.  A few months ago, the inventory was dangerously low at under 200 single family home listings in the Zone 4 (Nanaimo) area, but April of 2017 stats suggest 277 active single family home listings.  The number of single family homes listed on a 12 month average is also up about 3%.  This means that there are a few more homes to look at.  The other good news is that mortgage rates continue to stand at historic lows, making the money you need to borrow for a home purchase still very affordable.

Seller

The good news for sellers…see paragraph one!  But wait there’s more good news for sellers; sell to list price ratio (the amount you list for vs the amount you get) is at 100%.  Now this doesn’t mean that EVERY seller gets 100% of their asking price, but it does reflect that when comparing those who get less, to those who get more, it averages out at 100%.  The other good news (depending on your perspective) is the days to sell.

  • Back in April 2012, it was taking an average of 54 days to sell one of the 614 active listings.
  • Fast forward to April of 2017, and it is taking an average of 17days.

What a difference 5 years makes!

Even reading the above, it’s important to realize that these statistics are generated from the MLS systems provided by the Vancouver Island Real Estate BoardProfessional REALTORS® providing their expertise and results for their clients.  Pricing your home wrong can cost you money, whether it’s too high and the home isn’t selling, or too low and you don’t get everything you should.  Likewise, as a buyer, if you’re missing opportunities because you’re working on your own without the help of a REALTOR® connected to the market, every month the house you want is going to cost you a little more!


Call RE/MAX of Nanaimo at (250) 751-1223 and discuss your needs with one of our professional REALTORS®.

Apr 2017, Market Update, RE/MAX of Nanaimo

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area. Find out what your home may be worth in today’s market.

VIREB Real Estate Market Update

Low inventory continues to frustrate consumers and REALTORS® in our local area as well as other areas on Vancouver Island. Even with 145 single-family properties coming onto the market in March, the increase was not significant enough to have a noticeable impact on inventory.

“Properly priced single-family homes between $500,000 and $600,000 rarely last longer than a day or two and generate multiple offers, with many selling above list price.” – Janice Stromar, 2017 VIREB President.

Stromar urges people to sell now saying, “Real estate is cyclical, and consumers need to take advantage of these market conditions because they won’t last forever. When the market does correct itself – and it always does – it usually happens without warning.” – Janice Stromar, 2017 VIREB President.

The Nanaimo area has been a sellers’ market for several months now. Although some homeowners continue to be reluctant to put their home on the market fearing they will not find another house to buy. Connecting with a local REALTOR® is especially crucial in a competitive housing market.

“This kind of market can be confusing and chaotic for buyers and sellers, but REALTORS® have specialized knowledge of their communities that can help clarify the situation,” says Stromar. “We’re also equipped with sales tools, such as custom analytics, to help buyers formulate winning offers and ensure sellers receive maximum dollars for their home.”

March 2017 real estate market snapshot.

See what’s happened in the real estate market in March 2017. Where does your home fit in? More information here: contact us for a free home evaluation.

  • Number of units SOLD
  • Number of days to sell
  • Average selling price
  • Homes sold by area

March 2017 MONTHLY STATISTIC

Are homes selling in your area? Call RE/MAX of Nanaimo today at 250-751-1223 to find out more!

*This representation is based in whole of part on the data generates by VIREB which assumes no reliability in its accuracy. 

Canada's Housing Market Outlook For 2017, Nanaimo Real Estate, RE/MAX of Nanaimo

Canada’s Housing Market Outlook For 2017

Housing Market for Greater Vancouver and Toronto Vancouver and Toronto continue to be characterized by high demand and low housing market supply in 2016, with competition pushing prices higher due to limited inventory. Greater Vancouver experienced a 13 per cent increase in the average residential sale price to $1,020,300, while the Greater Toronto Area (GTA) saw an increase […]

Read more in the February 2017 Market Update, Nanaimo Real Estate

February 2017 Market Update and Infographic

Get informed with February 2017 market update. In February 2017: 347 single-family homes sold on the MLS® System compared to 406 last February, a decrease of 15 per cent. Sales rose by 42 per cent from January 2017, which saw 245 sales. Inventory of single-family homes declined by 38 per cent from February 2016, with […]