Real Estate Market Report: September 2018

By RE/MAX of Nanaimo
October 16, 2018 - 12:15pm Updated: October 19, 2018 - 5:37pm

NANAIMO — Hot off the press! Take a peek at Nanaimo's September 2018 real estate statistics. 

511 single-family properties were sold on the MLS® System in September. Sales did decline by 5% from August, which saw 540 single-family homes change hands, but it can be attributed to inventory shortages rather than a cooling market. 

So, what type of Market is it?

With a sales-to-active-listings ratio of around 32%, the VIREB market is firmly in sellers’ territory. In September 2018, the benchmark price of a single-family home in the VIREB area rose to $462,500, that's an 18% increase from one year ago. Also seeing rising benchmark prices board-wide. Apartments and townhouses, up 30% and 23% respectively from 2017.

This monthly Real Estate Market Report will analyze the Vancouver Island real estate north of the Malahat and more specifically the Nanaimo area. Keep in mind that the information does not indicate the actual value of any particular property. Find out what your home may be worth in today’s market, contact one RE/MAX of Nanaimo's agents here

 

Real Estate Market Report: October 2018