Nanaimo real estate statistics- as of October 31 2012

Nanaimo real estate statistics as of October 31 2012

Here is a review of real estate in Nanaimo for the month of October, 2012. 

Nanaimo real estate statistics for single family homes

The Cumulative Residential Average Single Family Sale Price is down by 6% over October 2011.  The average sale price was $336,172 in October 2012 compared to $356,453 in October 2011.

The following are the single family market changes for October 2012 compared with October 2011

-  There were 149 units listed this October compared to 174 units in October 2011. – Down by 14%

-  There were 82 units sold this October compared to 96 sold in October 2011 – Down by 15%

-  The average sale price per unit for October 2012 was 6% lower thanOctober 2011

-  The average days to sell inOctober 2012 were 49 days compared with October 2011 which was 59 days.

-  The average unit sold in October 2012 received 94% of asking price.  In October 2011 the average unit sold for 95% of asking price

-  The sell/list ratio (how many listed homes actually sold) was 55% in October 2012 which was identical to October 2011

Overall the market continues to trend down. However, inventory levels are down by 17% over last October.  Lower levels of inventory can benefit sellers.  Homes were selling on average 10 days faster this year than last year. It is possible that less competition in the marketplace has aided sellers to sell their homes faster.

From a buyer’s point of view, there may not be as many homes to choose from right now but the ones that are available are priced right. Sale prices are down by 6% over last year. It would appear that home owners are listing their homes at market value opposed to over pricing. 

For additional information regarding the Nanaimo Real Estate Market please contact me.