Tuesday, July 05, 2011

Nanaimo House Prices June 2011

  Nanaimo Real Estate Home Sales
Nanaimo House Prices
Prices Edge Up 2%  -  Sales Off by 13% 

The following information is taken from the MLS sales data from the Vancouver Island Real Estate Board. The information is based on single-family residential unit sales.

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 of June 2011 representing a decrease of 13%. They were also off from the May total of 109.

The average sale price increased slightly in June 2011 by 2% to $370,322.00 compared with $362,018.00 in June 2010.

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”.

VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighbourhoods or account for price differential between geographic areas.

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