Nanaimo Monthly Real Estate Market Stats :: June 2019
Nanaimo Monthly Real Estate Market Stats for June 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.
June 2019 Nanaimo Monthly Real Estate Market Stats
Prices in the VIREB area continue to rise. The benchmark price of a single-family home board-wide was $514,400 in June, a four per cent increase from one year ago. In the apartment category, the benchmark price climbed to $304,300 from one year ago, a six per cent increase and marginally higher than May’s sale price. The benchmark price of a townhouse hit $446,800 last month, up by six per cent over June 2018 and a bit higher than in May.
- 408 single-family homes sold on the Multiple Listing Service® (MLS®) System last month compared to 458 the previous month.
- Sales of apartments dropped by 29 per cent year over year while townhouse sales were down by 32 per cent from one year ago.
- Weak housing demand has also contributed to an increase in total active residential listings across the province. In the VIREB area, inventory of single-family homes in June rose by 20 per cent from one year ago (1,334 to 1,597).
- Active listings of apartments climbed by 14 per cent (308 to 352) year over year while townhouse inventory decreased by three per cent (196 to 191).
Single-Family HomesBenchmark Prices
- Campbell River area hit $434,900, an increase of four per cent over June 2018.
- Comox Valley reached $518,200, up by three per from one year ago.
- Duncan price of $471,400, an increase of slightly less than two per cent from June 2018.
- Nanaimo’s rose by three per cent to $559,300.
- Parksville-Qualicum area saw its benchmark price increase by three per cent to $589,500.
- Port Alberni reached $318,300 in June, a nine per cent increase from one year ago.
Buyers are very price conscious and pursuing their home purchases cautiously, while sellers are finally realizing that they need to price their homes competitively to garner interest and a sale.
“Whether you’re a buyer or seller, obtaining the services of a local REALTOR® is crucial,” says Kaye Broens, 2019 VIREB President. “We have access to tools and market analytics that allow us to determine an optimal selling price for your home and help you find a house that fits your needs at the right price.”
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.
If you require specific information on property values please contact one of our REALTORS® or call (250) 751-1223.