Real Estate Market Report for July 2020

Posted on August 24, 2020 by Ian Hodson

Welcome to the new look monthly real estate statistics newsletter. A brand new software system has been introduced by our real estate board which has meant changes to how property information is loaded onto the MLS and also how it is recorded and presented. Therefore the graphs and sales statistics will look different to the previous market report emails that have been sent out. We will likely be fine tuning the newsletter over the coming months so there may be some additional changes but we hope this continues to be of use to you.


Real Estate Statistics for July 2020

 

 

 

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

Average Sold Price:
 


Average Sold Numbers:



Average number of new listings:

 

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

 

 

The following graph shows what is called the absorption rate. This is the time it would take the current 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