Nanaimo House Prices October 2011

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  Nanaimo Real Estate Home Sales

Nanaimo House Prices Oct. 2011
Prices Up 5%  -  Sales Up 28% 

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 October 2011 total number of sold homes in Nanaimo increased from 75 units in October 2010 to 96 units for the month of October 2011 representing a increase of 28%.

The average sale price increased in October 2011 by 5% to $356,453.00 compared with $338,374.00 in October 2010. It is off slightly from the September 2011 average of $359,821.00

VIREB President Jim Stewart says; “We continue to see normal market conditions in the VIREB area and around the province. There doesn’t seem to be much downward or upward pressure on prices,” he added.

For the 12-month period from the end of October 2010 to October 2011, average sale prices across VIREB's six zones saw: Campbell River slip 1 % (to $291,451), the Comox Valley up 10% (to $352,064), Nanaimo was up 5% (to $356,453), Parksville/Qualicum rose 6% (to $366,226), Port Alberni/West Coast was up 3% (to $219,085) and the Cowichan Valley was down 1% (to $334,061).


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.