Monday, July 07, 2008
Nanaimo House Sales Cooling Off Average Price Up 11% Over Last Year
The Vancouver Island Real Estate Board is reporting in the local daily that housing sales for this June were off by 33% compared to June of last year.
The average house sale price was still up by 11% over last year rising from an average of $335,246 to an average of $372,100. The actual median price is $362,000.
Island wide sales volumes are down 30% but the Island is still attractive to a gret many buyers. However, some sellers have over estimated the market value of their home and they are simply not selling.
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