By Caitlin Lundgren

Nanaimo Real Estate Market Report: May

Nanaimo Real Estate Market Report: May 2021

Jun 9, 2021 | 2:03 PM

NANAIMO – Market clams slightly in May but stays hot

In May, 534 single-family detached properties sold, a decrease of about 9 per cent from the previous month. This is the first decrease in properties sold since January 2020.

A slight increase in active listings opened up a few more opportunities for buyers, but inventory remains tight.

The average sale price for Nanaimo single-family homes was $752,066 which is slightly lower than April 2021 but 26 per cent higher than May 2020.

In a competitive market, it is key to obtain the advice of a REALTOR®, especially in a multiple-offer environment.

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These are the benchmark numbers for Nanaimo in May 2021, as well as central and northern Vancouver Island:

• Nanaimo’s benchmark price increased to $710,500, up 23 per cent from last year.
• Campbell River’s benchmark price for single-family homes was $614,400, which is an increase of 4 per cent from last month and a 26 per cent increase from the previous year.
• Comox Valley’s benchmark price increased by 25 per cent from last year to $735,200.
• Cowichan Valley reported a benchmark price of $671,600, an increase of 23 per cent compared to May 2020.
• The Parksville-Qualicum area increased almost 22 per cent from the last year to $797,700.
• Port Alberni’s benchmark rose to $442,700, a 26 per cent increase from last year but only an increase of $700 from last month.

The monthly Nanaimo Real Estate report 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