Tuesday, December 07, 2010

Nanaimo House Prices November 2010

Nanaimo Home Prices 

Off By 4% Over '09
Total Sales Up By 6%

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.

For more information about Nanaimo House Prices and comparisons use this Nanaimo Info LINK.

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).

 Remember this data is based on averages and does not necessarily reflect the true value of your Nanaimo real estate. For an accurate appraisal of the actual market value of your Nanaimo real estate contact one of the many professional realtors serving the Nanaimo real estate market.


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