Nanaimo House Prices and Canadian House Prices March 2011

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NANAIMO REAL ESTATE MAR. 2011

Total Nanaimo Home Sales

Decrease 3% Over 2010

Prices Unchanged

The average selling prices remained basically flat compared with March 2010 to an average price of $368,354 in March 2011 from the average in March 2010 of $367,624. The number of units sold decreased by 3% from a total of 118 in March 2010 to 115 in March 2011.

The prices on Vancouver Island seem to have not been subject to the same swings as other areas of the country. Nanaimo average house prices are still below their peak of $379,291 reached in Nov. 2008.

Cliff Moberg, VIREB Past President says, “It appears we are continuing with a balanced market, prices remain stable as does inventory levels. Sales are picking up as we approach spring, and I believe we will continue with this stability throughout the spring/summer. Interest rates remain low however may increase toward the end of the year depending on outside influences.”

For more information about Nanaimo House Prices and comparisons use this Nanaimo Info LINK.

Following sales figures are based on average MLS sales summaries for Nanaimo and other Canadian cities for March 2011.

National Average
Mar.11 - $371,286
Mar.10 - $341,081

Victoria BC
Mar.  11- $494,207
Mar.  10- $521,917

Vancouver BC
Mar.  11 - $786,311
Mar. 10 -  $693,482

Calgary
Mar.   11 - $398,836
Mar.   10 - $405,551

Regina
Mar.  11 - $275,431
Mar.   10 - $250,826

Toronto
Mar.   11 - $456,147
Mar.   10 - $434,693

Ottawa
Mar.  11 - $347,642
Mar.  10 - $330,906

Nanaimo Prices Mar. 11- $368,354  Mar.  10- $367,624
Units Sold Mar.. 11 - 115   Mar.. 10 - 118 (-3%)

Remember that these prices provide a broad market trend only and do not necessarily reflect the true market value of real estate. For a proper evaluation of your property you need to consult one of the many professional realtors in Nanaimo.