By Caitlin Lundgren

NREMR: November 2022

Nanaimo Real Estate Market Report: November 2022

Dec 8, 2022 | 11:04 AM

NANAIMO – Growing inventory a positive sign for new year

In November, 73 single-family homes sold in Nanaimo, a 27 per cent decrease from one year ago and down 39 per cent from October.

Active listings of single-family homes on the Mid-Island rose 119 per cent from November 2021, jumping to 1,195, but dropped by 12 per cent from October.

The average sale price of single-family residential units in Nanaimo continues to decline. November saw an average sale price of $801,475, an 11 per cent decrease from last year.

In a competitive market, it is key to obtain the advice of a REALTOR®, especially in a rapidly changing environment.

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

• Nanaimo’s benchmark price decreased to $800,100, but was up 6 per cent from last year.
• Campbell River’s benchmark price for single-family homes was $679,200, a slight increase from the previous year but on par with last month.
• Comox Valley’s benchmark price increased by 3 per cent from last year to $807,900.
• Cowichan Valley reported a benchmark price of $793,500, an increase of 5 per cent compared to November 2021.
• The Parksville-Qualicum area increased 2 per cent from the last year to $887,000.
• Port Alberni’s benchmark rose to $462,700, a 14 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