Saturday, May 08, 2010

Nanaimo Real Estate

Nanaimo Real Estate

Nanaimo real estate continues to be a stable, sound investment which was not as radically affected by the recent recession as many other Canadian markets experienced.

In 2009 single-family residential MLS sales totaled 1327 units, which was up from 2008 figures of 1172 units for the Nanaimo market with a 2009 median market price of $337,500. The median price for 2008 was $350,000.

Average home prices for Nanaimo for 2009 were off 4% at $351,286 from the 2008 average price of $365,444. Compared with other Canadian markets during 2009, Nanaimo faired very well and has proven to be quite stable.

In 2007 total units sold was 1701 with an average price of $343.117

Source: Multiple Listing Service® (MLS®) sales data from the Vancouver Island Real Estate Board.
Median Price: An actual sale at or immediately adjacent to the midpoint in a price group. In the case of an even number of sales, the median is the
highest price in the lower half of that price group. If the total number of sales is an odd amount, the midpoint sale is taken to be the median (i.e. 9
sales, sale no. 5 represents the median).


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