Nanaimo Real Estate Market as of August 1 2012

Nanaimo Real Estate Market as of August 1 2012 - What’s selling & for how much?

The Nanaimo real estate sales numbers for the month of July, 2012 have been published. 

Here’s the type of real estate that sold in Nanaimo in July 2012 (source VIREB):

Property Type    Number of unit’s        Average price

Single Family            114 units                   $360,000

Condo (Apt)               26                              $ 201,016             

Condo (Patio)              7                             $ $269,464

Condo (Townhouse)    8                             $244,612

Lots                               4                            $ 147,500

How does one analyze the state of 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. I hope the following analysis may assist both buyers and sellers in making real estate buying and selling decisions.

The single family home, unit sales were up by 36% over July 2011 and unit price was up by 2% this year over last.  Prices were down by 3% in the July 2011 condo market however unit sales were up by a whopping 53% this July as compared to July 2011. Townhouse sale prices were down by 2% over last July and unit sales were on par with July 2011.

 These numbers indicate more sales overall in single family homes and condos compared to July 2011.  Sale prices are marginally lower than last July.

For additional information regarding the Nanaimo Real Estate Market please contact me or visit my Nanaimo real estate statistics page.