By Maria Doty

Nanaimo Real Estate Market Report: June

Nanaimo Real Estate Market Report: June 2020

Jul 10, 2020 | 11:29 AM

NANAIMO – Nanaimo house market rebounds in June.

It seems as though the COVID-19 effect on the housing market has fully worn off in June with house sales soaring not just in Nanaimo but throughout Vancouver Island.

In Nanaimo, there was an increase of 19% on single-family home sales compared to June 2019 and in fact, sales increased by 87% compared to May 2020. The average sale price for Nanaimo single family homes was $581,603 which is slightly higher than May 2020 and pretty much on pace with June 2019.

Experts are being cautiously optimistic about the quick bounce back the market has made. Pent-up demand and the enticing low interest rates are a big part of the surge so it’s important to see what the next months will bring.

These are the benchmark numbers for Nanaimo and the Central and Northern Vancouver Island:

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• Nanaimo’s benchmark price went up by 3% to $576,000 in June 2020.
• Campbell River’s benchmark price for single-family homes in June 2020 was $449,200, which is 3% higher than June 2019.
• Comox Valley’s benchmark price in June 2020 was $552,000, 6% higher than 2019.
• Duncan is reporting a benchmark price of $486,400, that’s 3% higher than June 2019.
• The Parksville-Qualicum area saw its benchmark price increase 3% to $597,800.
• Port Alberni’s benchmark reached $337,000 in June 2020, a 7% increase from June 2019.

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.

Looking for listings? Start browsing Nanaimo’s Real Estate listings here

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