Monday, December 20, 2010

Nanaimo House Prices and Canadian House Prices November 2010


NANAIMO REAL ESTATE NOV. 2010
Total Nanaimo Home Sales
Increase 6% Over 2009
Prices Off By 4%

The average selling prices dropped by 4% compared with November  2009 to an average price of $346,608 in November  2010 from the average in November  2009 of $360,328. The number of units sold increased by 6% from a total of 85 in November '09 to 90 in November  2010.
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.

Cliff Moberg, president of VIREB says; “We are seeing some stability in the market as consumer confidence increases the unit sales start to move upward, the prices however do not seem to be increasing. This trend is expected to continue into the New Year.” “We are experiencing a balanced market with historically low interest rates still available, and a good supply of homes,” he adds.

The average sale price across the VIREB region for November 2010 was $343,163, a 2 % increase from the $335,400 posted a year ago.

For the 12‐month period from the end of November 2009 to November 2010, average sale prices across VIREB's six zones saw: Campbell River drop 18 % (to $258,537), the Comox Valley slipped 3% (to $335,108), Nanaimo was down 4% (to $346,608), Parksville/Qualicum jumped 15% (to $429,733), Port Alberni down 3 % (to $243,706) and the Cowichan Valley was up 4% (to $360,631).

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 2010.


National Average
Nov. 10 - $344,268
Nov. . 09 - $337,392


Victoria BC
Nov.   10- $551,648
Nov.   09- $490,892


Vancouver BC
Nov. 10 - $699,009
Nov. 09 - $622,564

Calgary
Nov.  10 - $398,619
Nov.  09 - $401,201


Regina
Nov.  10 - $265,590
Nov. . 09 - $245,753

Toronto
Nov.  10 - $437,999
Nov.  09 - $418,502


Ottawa
Nov. 10 - $325,150
Nov.  09 - $314,071

Nanaimo Nov. 10- $346,608 Nov. 09- $360,328
Units Sold
Nov. 10 - 90  Nov. 09 - 85

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.


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