Nanaimo and Canadian Home Prices Dec. 2011

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NANAIMO REAL ESTATE DECEMBER 2011

Total Nanaimo Home Sales

Decrease 11% Over 2010

Prices Down 7%

The average sale price decreased in December 2011 by 7% to $332,400.00. compared with  $357,101.00 in December2010.  For the month of December 2011 total number of sold homes in Nanaimo decreased from 64 units in December 2010 to 57 units for the month representing a decrease of 11%.

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.

“Stability in the marketplace is the word of the day,” said outgoing VIREB President Jim Stewart. “Across the region the housing inventory remains stable. Homes that are priced competitively continue to sell. The opportunity for continued growth in 2012 is very strong, especially when compared to a lot of places in Canada.”

Comparing December 2010 to December 2011, the average sale prices across VIREB's six zones saw: Campbell River drop 11% (to $271,220), the Comox Valley went up 13% (to $364,422), Nanaimo went  down 7% (to $332,400), Parksville/Qualicum was down 9% (to $343,292), Port Alberni/West Coast was down 26% to $177,179 and the Cowichan Valley was down 1% (to $363,172).

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 November 2011.

National Average
December11 - $347,801
December10 - $344,782

Victoria BC
December 11- $469,484
December 10 - $496,814

Vancouver BC
December 11 - $689,057
December10 -  $700,773

Calgary
December  11 - $392,661
December  10 - $381,308

Regina
December 11 - $273,919
December 10 - $251,690

Toronto
December  11 - $451,436
December  10 - $433,887

Ottawa
December  11 - $335,330
December 10 - $325,031

Nanaimo Prices December 11-  $332,400.00 December  10 - $357,101.00(-7%)
Units Sold December11 - 57  December10 - 64 (-11%)

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.