Nanaimo and Canadian House Prices August 2011

---

NANAIMO REAL ESTATE AUGUST 2011

Total Nanaimo Home Sales

Increase 21% Over 2010

Prices Up 5%

The average sale price increased in August 2011 by 5% to $365,537.00 compared with  $348,930.00 in August 2010.  For the month of August 2011 total number of sold homes in Nanaimo increased from 91 units in August 2010 to 110 units for the month representing a decrease of 21%.

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.

VIREB President Jim Stewart says; “We continue to see stability in the real estate market, with mortgage rates remaining low. Vancouver Island continues to be a great place to invest.”

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 August2011.

National Average
August11 - $349,916
August10 - $324,992

Victoria BC
August  11- $536,631
August  10- $471,929

Vancouver BC
August  11 - $778,545
August 10 -  $680,782

Calgary
August  11 - $394,251
August  10 - $385,712

Regina
August  11 - $280,972
August  10 - $253,940

Toronto
August   11 - $451,663
August   10 - $410,995

Ottawa
August  11 - $339,415
August 10 - $322,281

Nanaimo Prices August 11-  $365,537 August  10- $348,930
Units Sold August11 - 110  August 10 - 91 (+21%)

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.