By Caitlin Lundgren

NREMR: August 2023

Nanaimo Real Estate Market Report: August 2023

Sep 11, 2023 | 12:58 PM

NANAIMO – A subdued market concludes the summer

In August, 83 single-family homes sold in Nanaimo, down 25 per cent from July but up 17 per cent from the previous year. Active listings of single-family homes on the Mid-Island were 1,072 in August, down 21 per cent from the previous year.

The average price for a single-family home in Nanaimo was $861,502 in August, up 3 per cent from the previous month but down 2 per cent from August 2022.

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 August 2023, as well as central and northern Vancouver Island:

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• Nanaimo’s benchmark price decreased to $799,200, a 5 per cent decrease from last year and exactly the same as last month.
• Campbell River’s benchmark price for single-family homes was $673,700, on par with the previous year.
• Comox Valley’s benchmark price decreased by 3 per cent from last year to $819,400.
• Cowichan Valley reported a benchmark price of $781,300, a decrease of 2 per cent compared to August 2022.
• The Parksville-Qualicum area decreased slightly from the last year to $896,200.
• Port Alberni’s benchmark decreased to $528,500, a 4 per cent decrease from last year.
• The North Island area decreased 6 per cent from last year to $437,000

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