Nanaimo House Prices and Canadian House Prices April 2011

---

NANAIMO REAL ESTATE APR. 2011

Total Nanaimo Home Sales

Decrease 29% Over 2010

Prices Up Slightly

The average selling prices remained basically flat compared with April 2010 with an average price of $374,501 in April 2011 from the average in April 2010 of $367,805. The number of units sold decreased by 29% from a total of 123 in April 2010 to 87 in April 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.

Guy Bezeau, VIREB's President-elect says that, "We have seen long term interest rates move up slightly with more increases expected which impacts affordability. With the amount of inventory available on the market now is a great time to invest on Vancouver Island," he adds.

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 April 2011.

National Average
Apr.11 - $372,544
Apr.10 - $345,104

Victoria BC
Apr.  11- $508,005
Apr.  10- $518,536

Vancouver BC
Apr.  11 - $815,252
Apr. 10 -  $673,579

Calgary
Apr.   11 - $411,875
Apr.   10 - $395,847

Regina
Apr.  11 - $269,061
Apr.   10 - $256,871

Toronto
Apr.   11 - $477,406
Apr.   10 - $437,566

Ottawa
Apr.  11 - $352,029
Apr.  10 - $333,854

Nanaimo Prices Apr. 11- $374,501  Apr.  10- $367,805
Units Sold Apr.11 - 87   Apr. 10 - 123 (-29%)

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.