Nanaimo Real Estate -Sept. 2011 - What’s selling and for how much?

Nanaimo Real Estate Sept 2011 What's selling and for how much?

What is selling in the Nanaimo real estate market ?  This is a very important question for both buyers and sellers.  For buyers looking at real estate in Nanaimo the main concerns are price, selection and timing.  For people selling their Nanaimo home the important factors are timing, level of inventory (competition) on the market and how much they can ask for their home. The following figures, stats and graphs will assist buyers and sellers to view the Nanaimo real estate market in a realistic light.

Here’s the type of real estate sold in Nanaimo in September 2011 (source VIREB):

Property Type    Number of units sold        Average price

Single Family               96 units                             $359,821

Condo (Apt)                 18                                 $241,022                                         

Condo (Patio)               5                                      $218,500

Condo (Townhouse)    19                                    $254,316

Lots                               3                                       $152,500

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 is still soft.

Next we will have a look at what the average selling price per Nanaimo neighbourhood was in September.

The following three areas of Nanaimo experienced the most sales- 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.