Who is buying real estate in Nanaimo?

Who is buying real estate in Nanaimo?

I have been reviewing the 2011 home buyer profile published by VIREB.  This report reviews Nanaimo real estate sales for 2011 and helps determine where the buyers come from and who they are.

The report looks at buyer origin, major reason for purchase, the length of time a buyer had lived in the community before buying, Type of purchase ( primary residence or investment), First time buyer  or retirement purchase,  down payment info., how buyers learnt of property, how buyers chose a Realtor, selling price range, home characteristics.

The following numbers reflect the highest frequency or most common value for each category.  These numbers reflect the “ Typical” buyer for 2011.

The typical buyer for 2011:

·     Came from the Nanaimo area,

·    Purchased their home to be their principle residence

·      Lived in the Nanaimo area for less than one year

·     Was not a first time buyer or a senior purchasing a retirement home

·      Became aware of the property through a Realtor

·   Their Realtor was recommended to them by family or friends

·     Purchased a home priced between $300,000 - $350,000

·     Bought a single family home with 3 beds and 2 bathrooms

·      Bought a home with vinyl siding and a double garage.

·      The top site characteristics was an ocean view.

To review additional real estate statistics in Nanaimo please read my monthly real estate statistics.