Category: Market Update
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In the Loop: February 2022 Real Estate Market Stats
ADDITIONAL INVENTORY OFFERS LITTLE RELIEF FOR BUYERS February brought additional inventory to the table in the Vancouver Island Real Estate Board (VIREB) area. However, listings are still far below where they need to be to satisfy buyer demand. Active listings of single-family homes were 12 per cent lower last month than the previous February but rose…
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In the Loop: January 2022 Real Estate Market Stats
New Year Brings Inventory Bump The new year brought a small inventory bump, but demand is still far outpacing supply in the Vancouver Island Real Estate Board (VIREB) area. Active listings of single-family homes were 39 per cent lower last month than the previous January but rose by 15 per cent from December 2021. VIREB’s inventory…
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In the Loop: December 2021 Real Estate Market Stats
2021 ends with near-record sales and record-low inventory The December 2021 Nanaimo Real Estate market stats show that the Vancouver Island Real Estate Board (VIREB) recorded 11,045 unit sales (all property types) in 2021, close to the 12,014 and 11,341 unit sales seen in 2016 and 2017. It is a remarkable outcome notwithstanding since it…
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In the Loop: November 2021 Real Estate Market Stats
How low can housing inventory go? The November 2021 Real Estate Market Stats show that active listings in the Vancouver Island Real Estate Board (VIREB) area continue to drop. The demand is far outpacing supply, and inventory has hit consecutive historical lows for several months running. The active listings of single-family homes were 44% lower…
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In the Loop: October 2021 Real Estate Market Stats
The predominant theme running through the housing market in the Vancouver Island Real Estate Board (VIREB) area is one of “different month, same issues.” The October 2021 real estate market stats show that, by category, 398 single-family homes sold in October. This is a 23% decrease from one year ago. There were 122 condo apartment…
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In the Loop: September 2021 Real Estate Market Stats
The housing market in the Vancouver Island Real Estate Board (VIREB) area finished summer the way it began, with historically low inventory and rising prices. The September 2021 real estate market stats for Nanaimo show us that active listings of single-family homes were 47 percent lower last month than in September 2020, while VIREB’s inventory…
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In the Loop: August 2021 Real Estate Market Stats
For the August 2021 real estate market stats, we continue to see how increasing housing supply is the key to affordability. Historically low inventory in the Vancouver Island Real Estate Board (VIREB) area continues to plague potential buyers and hamper sales. Active listings of single-family homes and row/ townhouses are 50 per cent lower than…
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In the Loop: July 2021 Real Estate Market Stats
Historically low inventory is likely the reasoning for our slightly cooling market. Last month, the Vancouver Island Real Estate Board (VIREB) saw sales of: 450 single-family detached properties compared to 531 in June, a decrease of 15 per cent Condo apartment category, sales dropped by seven per cent from June 2021 Row/townhouse sales rose by…
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In the Loop: May 2019 Real Estate Market Stats
Nanaimo Market Stats for May 2019 We are now into the spring market with strong activity in both listings (240 listings in May compared to 267 last year) and sales (136 sales in May compared to 139 last year). Average single-family homes prices are at $593,326 with condos over $291,610. We have seen an overall…
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In The Loop: April 2019 Real Estate Market Stats
Nanaimo Market Stats for April 2019 We are still seeing a more balanced market with value for both buyers and sellers. The average sale price has slightly increased by 6% compared to this time last year with an average of $586,595. The amount of homes listed has decreased by -19% with a decrease of…
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In The Loop: March 2019 Real Estate Market Stats
Nanaimo Market Stats for March 2019 We are still seeing a more balanced market with value for both buyers and sellers. The average sale price has only slightly changed compared to this time last year with an average of $546,656. The amount of homes listed has increased 3% with a decrease of -4% in…
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In The Loop: February 2019 Real Estate Market Stats
Nanaimo Market Stats for February 2019 The spring market is upon us! We are seeing a more balanced market with value for both buyers and sellers (3.6 months of inventory versus 2.5 months a year ago). Average sale price rose from $521,920 a year ago to $558,633 this year although average price has seen a…
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In The Loop: January 2019 Real Estate Market Stats
Nanaimo Market Stats for January 2019 With the holiday season over its time to get back to Real Estate! We are starting to see a more balanced market with value for both buyers and sellers. Average sale price rose from $518,896 a year ago to $558,848 this year although average price has seen a small…
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In The Loop – December
Nanaimo Market Stats for December 2018 The holiday season is upon us! We are seeing a more balanced market with value for both buyers and sellers. Average sale price rose from $518,452 a year ago to $556,820 this year although average price has seen a small decrease this month to $529,766. We’re also seeing a…
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Nanaimo Real Estate Market Statistics for May 2017
Here are the Nanaimo Real Estate Monthly Market Statistics for May 2017 For more information on market conditions, give Scott Parker a call at RE/MAX of Nanaimo. Scott can be reached anytime at (250) 751-1223.