Nanaimo House Prices Off By 6%May 09 to May 08
Based on average MLS sales summaries for Nanaimo and other Canadian cities for May 2009.
National Average
May 09 - $319,757
May 08 - $318,391
May 09 - $319,757
May 08 - $318,391
Victoria BC
May 09 - $482,119
May 08 - $514,100
Vancouver BC
May 09 - $583,674
May 08 - $624,639
May 09 - $583,674
May 08 - $624,639
Calgary
May 09 - $382,632
May 08 - $418,881
Regina
May 09 - $263,424
May 08 - $235,458
May 09 - $263,424
May 08 - $235,458
Toronto
May 09 - $395,609
May 08 - $398,148
Ottawa
May 09 - $312,927
May 08 - $296,580
May 09 - $312,927
May 08 - $296,580
Nanaimo
May 09 - $341,462
May 08 - $363,401
Units Sold
May 09 - 124
May 08 - 141
May 09 - $341,462
May 08 - $363,401
Units Sold
May 09 - 124
May 08 - 141
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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