By Caitlin Lundgren

NREMR: April 2022

Nanaimo Real Estate Market Report: April 2022

May 9, 2022 | 8:59 AM

NANAIMO – Increased inventory optimistic news for buyers.

In April, 507 single-family homes sold. A 13 per cent decrease from one year ago and 1 per cent decrease from March.

Inventory on Vancouver Island is climbing, but housing supply is still below the level necessary to satisfy current demand.

Nanaimo single-family homes continue to reach historic highs with an average sale price of $933,954 in April, a 3 per cent decrease from the previous month, but 26 per cent higher than the previous year.

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

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

4h ago

lasting legacy

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

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batten down the hatches

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

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These are the benchmark numbers for Nanaimo in April 2022, as well as central and northern Vancouver Island:

• Nanaimo’s benchmark price increased to $907,600, up 28 per cent from last year.
• Campbell River’s benchmark price for single-family homes was $769,800, a 26 per cent increase from the previous year.
• Comox Valley’s benchmark price increased by 24 per cent from last year to $878,400.
• Cowichan Valley reported a benchmark price of $871,900, an increase of 30 per cent compared to April 2021.
• The Parksville-Qualicum area increased 32 per cent from the last year to $1,027,000. Finally breaking the million dollar benchmark.
• Port Alberni’s benchmark rose to $615,200, a 37 per cent increase from last year, the largest increase on the island.

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