By Caitlin Lundgren

NREMR: December 2023

Nanaimo Real Estate Market Report: December 2023

Jan 15, 2024 | 9:57 AM

NANAIMO – Interest rates impacting housing market.

In December, 45 single-family homes sold in Nanaimo, a 27 per cent decrease from November and a 30 per cent decrease from the previous year. Active listings of single-family homes on the Mid-Island were 796 in December, down 11 per cent from the previous year.

The average price for a single-family home in Nanaimo was $892,811 in December, up 10 per cent from the previous month and 15 per cent from December 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 December 2023, as well as central and northern Vancouver Island:

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• Nanaimo’s benchmark price decreased to $781,900, on par with last month but a 5 per cent increase from the previous year.
• Campbell River’s benchmark price for single-family homes was $653,100, up 7 per cent from the previous year.
• Comox Valley’s benchmark price increased by 6 per cent from last year to $820,600.
• Cowichan Valley reported a benchmark price of $763,400, up 4 per cent from December 2022.
• The Parksville-Qualicum area increased 2 per cent from the last year to $845,200.
• Port Alberni’s benchmark increased 3 per cent from last year to $530,700.
• The North Island area is on par with last year with a benchmark price of $426,300

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