By Caitlin Lundgren

NREMR: July 2023

Nanaimo Real Estate Market Report: July 2023

Aug 22, 2023 | 9:02 AM

NANAIMO – Consistent sales lead to more active July

In July, 112 single-family homes sold in Nanaimo, on par with June but down 28 per cent from the previous year. Active listings of single-family homes on the Mid-Island were down 27 per cent from the previous year.

The average price for a single-family home in Nanaimo was $834,365 in July, a decrease of 5 per cent from the previous month and 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 July 2023, as well as central and northern Vancouver Island:

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• Nanaimo’s benchmark price decreased to $799,200, an 5 per cent decrease from last year.
• Campbell River’s benchmark price for single-family homes was $669,000, a 5 per cent decrease from the previous year.
• Comox Valley’s benchmark price decreased by 8 per cent from last year to $815,700.
• Cowichan Valley reported a benchmark price of $781,100, a decrease of 7 per cent compared to July 2022.
• The Parksville-Qualicum area decreased 3 per cent from the last year to $890,300.
• Port Alberni’s benchmark decreased to $532,600, a 9 per cent decrease from last year.
• The North Island area decreased 9 per cent from last year to $439,700

The monthly Nanaimo Real Estate report analyzes the Vancouver Island Real Estate market north of the Malahat and, more precisely, the Nanaimo and the 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