Monday, July 07, 2008

Nanaimo House Sales Cooling Off Average Price Up 11% Over Last Year

Nanaimo Construction Is Still Steady
Housing Sales are Slowing Down

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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