Monday, July 18, 2011

Nanaimo Home Prices and Canadian House Prices June 2011

Total Nanaimo Home Sales
Decrease 13% Over 2010
Prices Up 2%
The average sale price edged up slightly in June 2011 by 2% to $370,322.00 compared with  $362,018.00 in June 2010.  For the month of June 2011 total number of sold homes in Nanaimo decreased from 115 units in June 2010 to 100 units for the month representing a decrease of 13%.

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.

Jim Stewart, VIREB President says; “Larger spikes in unit sales experienced in some areas can be attributed to the number of properties in a specific price range influencing that average. Relying on the advice of a REALTOR® is very important to be properly informed on how the market conditions might affect an individual situation”.

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 June 2011.

National Average
June11 - $372,700
June10 - $342,811

Victoria BC
June  11- $507,385
June  10- $511,498

Vancouver BC
June  11 - $808,867
June 10 -  $657,934

June   11 - $412,016
June   10 - $415,431

June  11 - $285,613
June   10 - $274,673

June   11 - $476,386
June   10 - $435,064

June  11 - $354,524
June  10 - $328,238

Nanaimo Prices June 11 $370,322 June  10- $362,018
Units Sold
June11 - 100  June 10 - 115 (-13%)

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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