Tuesday, May 10, 2011

Nanaimo House Prices April 2011


  Nanaimo Real Estate Home Sales
Nanaimo House Prices
Prices Up 2% Over 2010
Total Sales off 29%
The following information is taken from the MLS sales data from the Vancouver Island Real Estate Board. The information is based on single-family residential unit sales.

For the month of April 2011 total number of sold homes in Nanaimo decreased from 123 units in April 2010 to 87 units for the month representing a decrease of 29%. This number is down considerably over the 115 units sold in March 2011.

The average sale price crept up 2% with April 2011 at $374,501 compared with $367,805 in April 2010 this is  an increase from the March, 2011 average of $368,354.

For the 12‐month period from the end of April 2010 to March 2011, average sale prices across VIREB’s six zones saw: Campbell River down 1% (at $292,949); Comox Valley up 2% (to $355,976); Nanaimo up 2% (at $374,501); Parksville/Qualicum up 2% (to $401,162); Port Alberni jumped 38% (to $296,552); and the Cowichan Valley up 2% (to $360,029).

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.

VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighbourhoods or account for price differential between geographic areas.

allvoices

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