Nanaimo real estate sales and prices continued to climb in 2016
NANAIMO — A lack of inventory drove central island housing prices up in 2016, according to the Vancouver Island Real Estate Board (VIREB).
The average sale price in Nanaimo last year was $447,336. That number was $482,475 in Parksville/Qualicum.
Prices rose about 14 per cent from 2015 levels in the harbour city, but Janice Stromar with the VIREB says the increase in prices may slow down this year.
“Inventory is lower than normal. Every month we say we’re at a historical low and then it gets lower,” said Stromar. “We are at definitely a historical low right now. But I do see talking to different realtors that everyone has some listings in the pipeline. So I think we’ll start to see it pick-up again towards the end of January, beginning of February.”