Wednesday, August 24, 2011

Nanaimo Home Prices and Canadian House Prices July 2011

Total Nanaimo Home Sales
Decrease 18% Over 2010
Prices Off 7%
The average sale price fell off in July 2011 by 7% to $354,077.00 compared with  $382,672.00 in July 2010.  For the month of July 2011 total number of sold homes in Nanaimo decreased from 102 units in July 2010 to 84 units for the month representing a decrease of 18%.

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; “We are continuing to see stable market conditions, but as the selection of homes increases it is important that sellers price their home competitively and to consult a REALTOR® for up to date market conditions in specific areas.”

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 July 2011.

National Average
July11 - $361,181
July10 - $330,532

Victoria BC
July  11- $467,052
July  10- $496,943

Vancouver BC
July  11 - $761,673
July 10 -  $657,815

July  11 - $397,613
July  10 - $402,809
July  11 - $272,548
July  10 - $281,836

July   11 - $459,122
July   10 - $420,455

July  11 - $342,925
July  10 - $322,342

Nanaimo Prices July 11 $354,077 July  10- $382,672
Units Sold
July11 - 84  July 10 - 102 (-18%)

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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