By Caitlin Lundgren

NREMR: January 2023

Nanaimo Real Estate Market Report: January 2023

Feb 7, 2023 | 10:44 AM

NANAIMO – Calm start to the year indicates a great time to buy

In January, 46 single-family homes sold in Nanaimo, down 33 per cent from December and 26 per cent from the previous year.

Active listings of single-family homes on the Mid-Island rose 108 per cent year-over-year, but dropped by 4 per cent from December.

The average price for a single-family home in Nanaimo was $795,527 in January, a 23 per cent drop 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 January 2023, as well as central and northern Vancouver Island:

• Nanaimo’s benchmark price decreased to $755,300, a 7 per cent decrease from last year.
• Campbell River’s benchmark price for single-family homes was $647,600, a 4 per cent decrease from the previous year.
• Comox Valley’s benchmark price decreased by 4 per cent from last year to $784,700.
• Cowichan Valley reported a benchmark price of $745,700, an decrease of 4 per cent compared to January 2022.
• The Parksville-Qualicum area decreased 6 per cent from the last year to $856,100.
• Port Alberni’s benchmark decreased to $518,300, a 8 per cent decrease from last year, the largest decrease 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