Nanaimo Real Estate market for 2012 – What sold and for how much?

Nanaimo Real Estate market for the year 2012 – What sold and for how much?

The numbers are out for real estate sales in Nanaimo for the year 2012. VIREB(Vancouver Island Real Estate Board) stats show that the numbers are down but are somewhat better than anticipated . 

There has been so much negative media coverage on the declining real estate market in BC. There is no question that the market has declined.  However, the good news is that it hasn’t declined by that much in the single family housing market here in Nanaimo. Prices have dropped by as little as 3% for single family homes to a high of 6% for townhouses.

Knowing what is going on in the Nanaimo real estate market is important for both buyers and sellers.  For buyers looking at real estate in Nanaimo the main concerns are price, selection and timing.  For people selling their Nanaimo home the important factors are timing, level of inventory (competition) on the market and how much they can ask for their home. I hope the following figures and stats will assist both buyers and sellers navigate their way through their real estate transactions.

Below are the types of real estate sold in 2012 (source VIREB) in Nanaimo as compared to 2011:

 For additional information on the Nanaimo real estate market please give me a call.