By Levi Loughlin

NREMR: October 2024

Nanaimo Real Estate Market Report: October 2024

Nov 15, 2024 | 11:02 AM

NANAIMO –  As fall begins the real estate market finds balance

In October, 346 single-family homes sold in Nanaimo, up eight per cent over September and forty-five per cent over the previous year. Active listings of single-family homes on the Mid-Island were 1,352 in October, up seventeen percent from the previous year.

The average sale price for a single-family home in Nanaimo was $865,401 in October, up three per cent over the previous month and on par with October 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 October 2024, as well as central and northern Vancouver Island:

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• Nanaimo’s benchmark sits at $809,000, a three per cent decrease from the previous year but on par with last month.
• Campbell River’s benchmark price for single-family homes was $701,400, over a five per cent increase over the previous year.
• Comox Valley’s benchmark price is on par with last year’s price at $838,400.
• Cowichan Valley reported a benchmark price of $769,300, on par with October 2023.
• The Parksville-Qualicum area is on par with last year with a benchmark price of $896,400
• Port Alberni’s benchmark increased to $502,100, a little under a three per cent increase from last year’s number.
• The North Island area is up nearly six per cent over last year with a benchmark price of $430,300.

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