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Nanaimo Monthly Real Estate Market Stats :: May 2019

Nanaimo Monthly Real Estate Market Stats :: May 2019

Nanaimo Monthly Real Estate Market Stats for May 2019 summarizes what’s happening in the real estate market in your area. Monthly Nanaimo real estate market stats that analyze the Vancouver Island real estate market north of the Malahat. These Nanaimo real estate market stats can be useful in establishing trends when applied over a period of time.

Keep in mind that the information does not indicate the actual value of any particular property.

May 2019 Nanaimo Monthly Real Estate Market Stats

Sales of single-family homes in May board-wide dipped by 12 per cent year over year but rose by 11 per cent from April.

  • Last month, 459 single-family homes sold compared to 412 the previous month and 519 in May 2018.
  • Sales of apartments dipped by seven per cent year over year while townhouse sales increased by 19 per cent. In the apartment category, the benchmark price climbed to $300,700 from one year ago, a six per cent increase. The benchmark price of a townhouse hit $445,500 last month, up seven per cent over May 2018.

The British Columbia Real Estate Association reports that on a seasonally adjusted basis, sales in the VIREB area are close to 2014 levels.

Despite decreased demand, prices in the VIREB area are still rising, although those increases are softening.

The benchmark price of a single-family home board-wide was $512,500 in May, a four per cent increase from one year ago.

***

ABOUT RE/MAX of Nanaimo. Nanaimo Monthly Real Estate Market Stats come out before the 5th of each month. Listing or buying your home with a RE/MAX real estate agent has its benefits. Agents have access to everything you need to sell your home and to help you find the property to fit your every need. RE/MAX agents are passionate about real estate, their customers and their communities. These experienced professionals are dedicated to offering you expertise not found in other real estate firms. With ongoing training, RE/MAX agents wield a specialized knowledge that offers you the security of knowing that your agent is educated and devoted to your success.


Find out what your home may be worth in today’s market.

CONTACT A REALTOR®     |     SEARCH FEATURED PROPERTIES     |     HOMES FOR RENT

If you require specific information on property values please contact one of our REALTORS® or call (250) 751-1223.

Source: vireb.com

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