By Caitlin Lundgren

NREMR: February 2023

Nanaimo Real Estate Market Report: February 2023

Mar 10, 2023 | 1:06 PM

NANAIMO – Market gaining momentum as we approach Spring.

In February, 60 single-family homes sold in Nanaimo, up 26 per cent from January but down 51 per cent from the previous year.

Active listings of single-family homes on the Mid-Island rose 92 per cent year-over-year and 8 per cent from January.

The average price for a single-family home in Nanaimo was $793,790 in February, a 16 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 February 2023, as well as central and northern Vancouver Island:

• Nanaimo’s benchmark price decreased to $750,500, an 11 per cent decrease from last year.
• Campbell River’s benchmark price for single-family homes was $652,600, a 6 per cent decrease from the previous year.
• Comox Valley’s benchmark price decreased by 4 per cent from last year to $789,600.
• Cowichan Valley reported a benchmark price of $745,700, an decrease of 3 per cent compared to February 2022.
• The Parksville-Qualicum area decreased 8 per cent from the last year to $848,100.
• Port Alberni’s benchmark decreased to $516,500, a 12 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