Tuesday, March 17, 2009

Nanaimo and Canadian MLS House Prices Feb. '09

Nanaimo Prices Off By 12%
February 09 to February 08


Based on average MLS sales summaries for Nanaimo and other Canadian cities for February 2009.

National Average
February 09 - $281,972
February 08 - $310,379

Victoria BC
February.09 - $442,592
February 08 - $487,696

Vancouver BC
February 09 - $542,641
February 08 - $623,517

Calgary
February 09 - $370,198
February 08 - $415,017

Toronto
February 09 - $361,361
February 08 - $382,048

Ottawa
February 09 - $273,991
February 08 - $283,199

Nanaimo
February 09 - $326.301
February 08 - $370,863

Units Sold

February 09 - 62
February 08 - 117


Remember these are 'average' house sales prices and do not necessarily reflect what the actual market value is of your property. For an accurate evaluation of your property you need to contact a real estate agent who is knowledgeable or a professional appraiser.
Averages are however helpful in identifying trends and clearly, real estate is not selling for what is was a year ago, which was over valued most likely. It is good news for first time home buyers, lower prices combined with record low mortgage rates in some cases make buying more attractive than continuing to rent.

allvoices

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