Real Estate Market Report for August 2020

Posted on September 10, 2020 by Ian Hodson

Welcome to the new look monthly real estate statistics newsletter for August 2020. One additional change we have introduced is to show median prices in place of average prices – a description of median can be found at https://realestateinnanaimo.ca/blog.html/what-is-the-difference-between-real-estate-average-and-median-price-7414712. We have also added the number of new listings to the table below alongside number of sales and median sold prices. Plus we now have graphs comparing sales numbers with new and total active listings


Real Estate Statistics for August 2020



 
Synopsis for Nanaimo
 
The graphs below show the median sold price, sold numbers and number of new listings since the beginning of each year (freehold homes only.)

Median Sold Price:

 

Sold Numbers:

 

Number of new listings:



 

 

The following graphs shows the % difference of the housing price index (HPI) from the same month 12 months ago. It is split into the different sub-areas (the overall figure for Nanaimo is on the left of the graph) and is for single family homes.

 

The following graphs are for Nanaimo and show the sales numbers against new listings and sales numbers against total active listings. This is helpful to show how the market is doing as the closer the 2 lines come together on each graph generally indicates a busy active market.

The following graph is for Nanaimo and shows the months of inventory. This is the time it would take the current freehold, single family homes for sale, to sell, if no new homes were listed, which indicates whether we have a sellers, balanced or buyers’ market.

 

These figures do concentrate on single family homes but if you would like similar information for other property types, such as apartments or patio homes, or specific geographical areas of Nanaimo or Parksville/Qualicum, then I would be more than happy to discuss those with you as well.
 
As always I hope you find these monthly newsletters informative and if at any time you or any of your friends, relatives or co-workers are looking for a professional realtor to help them buy or sell a home, or just have a real estate question, please call my personal cell, 250-739-1228, or drop me an email.
 
Thank you,
Ian