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 949 active listings compared to 1,529 one year ago.
- However, the 949 available properties reflect a six per cent increase over January, an encouraging development since the lack of inventory continues to challenge consumers and REALTORS® in the VIREB area.
Last month, the benchmark price of a single-family home in the VIREB area was $403,100, up 18 per cent from one year ago. Prices increased in every zone, ranging from 14 per cent in Duncan and Port Alberni to 25 per cent in Nanaimo.
The benchmark price of an apartment in February rose 22 per cent board-wide from the previous year, but we saw the highest increases in Parksville-Qualicum (24 per cent), the Comox Valley (26 per cent), and Campbell River (26 per cent). The townhouse market also strengthened in January, posting a 20 per cent increase board-wide.
From RE/MAX of Nanaimo’s humble beginnings, to the market-dominating business it is today, the company continues to grow and adapt to suit client and agent needs. Some things, however, never change. Our commitment to service, ethics, and continual education means that our clients can benefit from the knowledge and experience of Nanaimo’s top real estate professionals, while our REALTORS® benefit from a working environment that supports their professional and personal growth.