Tuesday, October 18, 2011

Nanaimo and Canadian House Prices Sept. 2011

Total Nanaimo Home Sales
Increase 23% Over 2010
Prices Up 3%
The average sale price increased in September 2011 by 3% to $359,821.00 compared with  $350,998.00 in September 2010.  For the month of September 2011 total number of sold homes in Nanaimo increased from 78 units in September 2010 to 96 units for the month representing a increase of 23%.

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.

VIREB President Jim Stewart says; “We continue to see stability in the real estate market, with mortgage rates remaining low. Vancouver Island continues to be a great place to invest.”

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 August2011.

National Average
September11 - $352,581
September10 - $331,213

Victoria BC
September  11- $493,522
September  10- $485,459

Vancouver BC
September  11 - $751,042
September 10 -  $679,381

September  11 - $406,252
September  10 - $401,080
September  11 - $272,295
September  10 - $240,667

September   11 - $465,369
September   10 - $427,269

September  11 - $337,109
September 10 - $324,841

Nanaimo Prices September 11 $359,821 September  10- $350,998
Units Sold
September11 - 96  September 10 - 78 (+23%)

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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