Heavy demand pacing Nanaimo’s real estate market: VIREB
NANAIMO — Home prices continue to soar around Nanaimo as demand far outweighs supply
Janice Stromar, past president of the Vancouver Island Real Estate Board (VIREB), told NanaimoNewsNOW the record-setting house prices in Nanaimo show strong demand in a market considered reasonably affordable compared to cities like Vancouver and Victoria.
Stromar said any single-family home priced under $500,000 is “flying off the market in multiple offers.”
“It’s still a very difficult market for people that don’t qualify to buy a home greater than $500,000. The upper end of our market has started to stabilize a bit more, but we are still fully in a seller’s market.”