Nanaimo Real Estate Home Sales
Nanaimo House Prices
Prices Decline 2% - Sales Off by 13%
Prices Decline 2% - Sales Off by 13%
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 May 2011 total number of sold homes in Nanaimo decreased from 125 units in May 2010 to 109 units for the month representing a decrease of 13%. They were up sharply over the total of 87 units in April 2011.
Jim Stewart, VIREB President says; “We are seeing continued normalization in our market with a fair selection of homes to choose from and a reasonable amount of buyer’s out there looking.”
Guy Bezeau, VIREB’s President - elect says that, “Interest rates still remain at affordable levels which makes it easier for first time home buyers to enter the market.”
Cliff Moberg, VIREB’s Past President, added that, “Relying on the advice of a REALTOR® is vitally important to be properly informed on how the market conditions might affect an individual situation in the marketing of their home.
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.
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