We are still seeing low mortgage interest rates, high sales and low inventory - leading to higher prices. However, although we are still in a sellers market we have started to see an increase in the number of homes for sale in Nanaimo. So although the total number for sale is still low, when compared with previous years, it has meant the months of inventory graph has started an upward trend. This could therefore indicate that even though we are still a long way off a balanced market, there may be some relief on the horizon for buyers.
Real Estate Statistics
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
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