Welcome to the last monthly real estate statistics newsletter of 2024, the December numbers will be sent out in January 2025 where you will be able to see the numbers for the whole year.
As you might have read the Bank of Canada made another rate reduction on December 11th. They reduced the rate by 50 basis points to 3.25%. With the policy rate now a lot lower than 6 months ago they have said that if the economy evolves as they are expecting than they are likely to take a more gradual approach in 2025.
Real Estate Statistics
Synopsis for Nanaimo
The graphs below show the median sold price for the previous 5 years (freehold homes in Nanaimo and Parksville/Qualicum, townhouses and apartments in Nanaimo.)
Median Sold Price - Nanaimo freehold homes:
Median Sold Price - Parksville/Qualicum freehold homes:
Median Sold Price - Nanaimo townhouses:
Median Sold Price - Nanaimo apartments:
The following graphs shows the % difference of the housing price index (HPI) from the same month 6 and 12 months ago. It is split into the different sub-areas (the overall figure for Nanaimo is on the left of the graphs.)
Freehold homes:
Strata apartments/townhouses:
The following graphs show the 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.
Nanaimo Freehold homes:
Parksville/Qualicum freehold homes:
Nanaimo Townhouses:
Nanaimo Apartments:
The following graphs show the months of inventory. 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.
Nanaimo Freehold homes:
Parksville/Qualicum freehold homes:
Nanaimo Townhouses:
Apartments:
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.
Also we would like to wish you all a happy and healthy holiday season - see you in 2025!
Thank you,
Ian
Comments:
Post Your Comment: