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NREMR: August 2024

Nanaimo Real Estate Market Report: August 2024

Sep 12, 2024 | 1:36 PM

NANAIMO –  Conditions trend toward buyer’s market in August’s real estate market

In August, 333 single-family homes sold in Nanaimo, down eight percent from July but up three per cent over the previous year. Active listings of single-family homes on the Mid-Island were 1,564 in August, up 45 percent from the previous year.

The average sale price for a single-family home in Nanaimo was $833,781 in August, a four percent increase over July but a three percent decrease from August 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 August 2024, as well as central and northern Vancouver Island:

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• Nanaimo’s benchmark price rose to $819,900, on par with both last month and the previous year.
• Campbell River’s benchmark price for single-family homes was $691,700, on par with the previous year.
• Comox Valley’s benchmark price increased by three per cent from last year to $832,800.
• Cowichan Valley reported a benchmark price of $782,800, on par with August 2023.
• The Parksville-Qualicum area is on par with last year with a benchmark price of $916,000.
• Port Alberni’s benchmark increased rose to $519,900, on par with last year’s number.
• The North Island area is on par with last year with a benchmark price of $441,700.

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