Nanaimo Market Going Strong!

Consumers and real estate professionals alike are happy to see that Nanaimo’s housing market is continually climbing and holding strong. Vancouver Islands Real Estate Board number’s show:

• Average sale price of a single family home is up 8% from one year ago, from $319,000 to $346,000 (roughly).
• Unit sales are up from 107 in August 2006, to 152 August 2007.

These numbers are due to availability of listings, low interest rates aiding in affordability, and consumer confidence. Although the average price of a home in Nanaimo may seem high at $346,000, our prices are still good compared to the rest of BC, particularly Vancouver. The Vancouver Island Real Estate Board says they anticipate further increases in months ahead so now is the time to by.

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