Based on average MLS sales summaries for Nanaimo and other Canadian cities for March 2009.
National Average
March 09 - $288,641
March 08 - $312,852
March 09 - $288,641
March 08 - $312,852
Victoria BC
March 09 - $441,380
March 08 - $504,194
Vancouver BC
March 09 - $530,763
March 08 - $616,496
March 09 - $530,763
March 08 - $616,496
Calgary
March 09 - $372,114
March 08 - $419,396
Regina
March 09 - $246,268
March 08 - $211,962
March 09 - $246,268
March 08 - $211,962
Toronto
March 09 - $362,050
March 08 - $380,338
Ottawa
March 09 - $287,911
March 08 - $288,152
March 09 - $287,911
March 08 - $288,152
Nanaimo
March 09 - $334,324
March 08 - $343,324
Units Sold
March 09 - 81
March 08 - 116
March 09 - $334,324
March 08 - $343,324
Units Sold
March 09 - 81
March 08 - 116
Remember these are 'average' house sales prices and do not necessarily reflect what the actual market value is of your property. For an accurate evaluation of your property you need to contact a real estate agent who is knowledgeable or a professional appraiser.
Averages are however helpful in identifying trends and clearly, real estate is not selling for what is was a year ago, which was over valued most likely. It is good news for first time home buyers, lower prices combined with record low mortgage rates in some cases make buying more attractive than continuing to rent.
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