Wednesday, August 03, 2011

Nanaimo House Prices July 2011


  Nanaimo Real Estate Home Sales
Nanaimo House Prices
Prices Slip 7%  -  Sales Off by 18% 

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 July 2011 total number of sold homes in Nanaimo decreased from 102 units in July 2010 to 84 units for the month of July 2011 representing a decrease of 18%. They were also off from the June total of 100.

The average sale price decreased in July 2011 by 7% to $354,077.00 compared with $382,672.00 in July 2010.

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.”

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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