By Caitlin Lundgren

Nanaimo Real Estate Market Report: July

Nanaimo Real Estate Market Report: July 2021

Aug 23, 2021 | 9:00 AM

NANAIMO – Market cools down due to low inventory.

In July, 450 single-family detached properties sold, a decrease from the previous month.

Inventory remains extremely tight with historical lows. Active listings of single-family homes dropped by 51 per cent from the previous year.

The average sale price for Nanaimo single-family homes was $793,957 which is a 5 per cent increase from the previous month but 29 per cent higher than July 2020.

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

VEHICLES DAMAGED

Man facing charges after over 20 vehicles had tires slashed in downtown Nanaimo

5h ago

lasting legacy

Former B.C. premier John Horgan dies aged 65, after third bout with cancer

5h ago

batten down the hatches

Wind warning issued for mid-Island ahead of 'blustery' Pacific storm

7h ago

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

• Nanaimo’s benchmark price increased to $739.000, up 27 per cent from last year.
• Campbell River’s benchmark price for single-family homes was $639,100, which is a 28 per cent increase from the previous year.
• Comox Valley’s benchmark price increased by 26 per cent from last year to $765,200.
• Cowichan Valley reported a benchmark price of $723,800, an increase of 27 per cent compared to July 2020.
• The Parksville-Qualicum area increased 29 per cent from the last year to $850,100.
• Port Alberni’s benchmark rose to $488,100, a 38 per cent increase from last year, the largest increase on the island 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