By Caitlin Lundgren

NREMR: April 2023

Nanaimo Real Estate Market Report: April 2023

May 10, 2023 | 1:23 PM

NANAIMO – Buyers cautious as Spring market approaches.

In April, 96 single-family homes sold in Nanaimo, down 4 per cent from March and 35 per cent from the previous year. Active listings of single-family homes on the Mid-Island rose 31 per cent year-over-year.

The average price for a single-family home in Nanaimo was $814,577 in April, an increase of 6 per cent from March, but a 12 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.

These are the benchmark numbers for Nanaimo in April 2023, as well as central and northern Vancouver Island:

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• Nanaimo’s benchmark price decreased to $753,000, a 16 per cent decrease from last year.
• Campbell River’s benchmark price for single-family homes was $677,800, a 10 per cent decrease from the previous year.
• Comox Valley’s benchmark price decreased by 10 per cent from last year to $797,000.
• Cowichan Valley reported a benchmark price of $743,300, a decrease of 14 per cent compared to April 2022.
• The Parksville-Qualicum area decreased 14 per cent from the last year to $850,500.
• Port Alberni’s benchmark decreased to $515,400, a 16 per cent decrease from last year.

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