Thursday, June 02, 2016

Nanaimo House Prices - May 2016

Nanaimo House Prices 2014

  Nanaimo Real Estate Home Sales

Nanaimo House Prices May 2016

Prices Increase 13% - Sales Jump 40%

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.

The month of May 2016 saw 210 homes sold, compared with 186 homes the previous month, and compared with 150 homes sold in 
May 2015. This represents a 40% increase when compared with last year.

The average sale price increased in 
May 2016 to $451,208.00 compared with $399,052.00 in May 2015 an increase of 13%. The median Nanaimo house price for May 2016 was $405,000.00.

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.

In May 2016, the benchmark price of a single-family home in the VIREB area was $364,500, up 9.36 per cent from one year ago. Benchmark pricing tracks the value of a typical home in the reported area. The benchmark price of townhouses and apartments also increased in nearly every market. The average MLS® price of a single-family home in May was $411,458, a 13 per cent increase from May 2015. 

The May 2016 benchmark price of a single-family home in the Campbell River area was $287,500, a 3.27 per cent increase over 2015. In the Comox Valley, the benchmark price was $360,400, up 11.32 per cent from 2015. Duncan reported a benchmark price of $317,300, an increase of 6.71 per cent over the same month in 2015. Nanaimo’s benchmark price rose 10.82 per cent to $389,800 while the Parksville-Qualicum area saw its benchmark price rise by 14.31 per cent to $417,900. The price for a benchmark home in Port Alberni was $197,300, unchanged from one year ago. 


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