By Maria Doty

Nanaimo Real Estate Market Report: November 2019

Jan 6, 2020 | 3:35 PM

NANAIMO – Real Estate Market Reflecting Usual Seasonal Trends.

November 2019 sales of single-family homes in Nanaimo rose by 3% compared to October 2018 but saw a big increase of 32% compared to November 2018. The average sale price of single-family homes was significantly higher than the previous year (2018) and also increased from October 2019 by $8,915.

After a slow start to 2019, the Nanaimo market picked up throughout the spring and has returned to trend, likely after adjusting to mortgage rules and provincial tax policies. Nanaimo’s current benchmark price for a single-family home is $558,400 which rose by just under 3 percent.

The market continues to be a balanced one and trending slightly more towards buyers. Accurate pricing will continue to be key if you’re looking to sell your property fast. Otherwise, overpriced properties will linger on the market.

This is the monthly Nanaimo Real Estate report which analyzes the Vancouver Island Real Estate market north of the Malahat and more precisely, the Nanaimo and greater area. The information included here does not reflect the actual value of any particular property. You can find out what your home is worth by contacting a RE/MAX of Nanaimo’s agents here.

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Want to know more? Find more Nanaimo Real Estate Market Reports here https://nanaimonewsnow.com/nanaimo-real-estate-market-report