By Levi Loughlin

NREMR: July 2024

Nanaimo Real Estate Market Report: July 2024

Aug 6, 2024 | 4:22 PM

NANAIMO – July’s real estate market ends on a quiet note

In July, 363 single-family homes sold in Nanaimo, up just 1 percent from June and an 11 per cent decrease from the previous year. Active listings of single-family homes on the Mid-Island were 1,596 in July, up 46 percent from the previous year.

The average sale price for a single-family home in Nanaimo was $796,470 in July, a 6 percent decrease as well as a 5 percent decrease from July 2023.

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 2024, as well as central and northern Vancouver Island:

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• Nanaimo’s benchmark price dropped to $815,800, on par with both last month and the previous year.
• Campbell River’s benchmark price for single-family homes was $705,700, up 4 per cent from the previous year.
• Comox Valley’s benchmark price increased by 5 per cent from last year to $842,100.
• Cowichan Valley reported a benchmark price of $775,800, on par with July 2023.
• The Parksville-Qualicum area is on par with last year with a benchmark price of $899,900.
• Port Alberni’s benchmark increased rose to $531,800, on par with last year’s number.
• The North Island area is on par with last year with a benchmark price of $431,300.

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