Nanaimo Real Estate – Sept. 30 2014 real estate update

Nanaimo Real Estate – Sept. 30 2014 real estate update

The real estate market in Nanaimo continues to be strong, particularly in single family homes. 

Here is what has been selling in the Nanaimo real estate market for the month of September 2014.  (source VIREB):

Property Type    Number of units sold        Average price

Single Family            117 units                        $378,185

Condo (Apt)               22                              $196,611

Condo (Patio)               2                                   $323,500

Condo (Townhouse)    5                             $267,680

Lots                       20                                  $178,550

As you can see from the numbers above, the single family home market was fairly strong in September. However, the condo, townhouse, patio home market was fairly slow.

To date for 2014, the single family home market has shown the following changes as compared to the same time period in 2013:

9% more homes sold in 2014 than did in 2013

4% higher average sell price in 2014 as compared to 2013

11% decrease in the average number of days to sell a home in 2014 versus 2013.

The following three areas of Nanaimo experienced the most sales to date for single family homes- 

1.  North Nanaimo, 2. South Nanaimo  3.  Departure Bay.

For additional information on how to read the status of the current Nanaimo real estate market please give me a call.