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January market update 2010

By
Industry Observer with Chateau Realty

Lot prices are level compared to last January but down 6% 12 months to date. Sales however are up 182% over last year.

Single family home sales are up 77% to last January up 15% 12 months to date. Prices seem to have leveled off 4% over last year -4% 12 months to date.

Condo sales (Apartments) are up 123% over last Jan. up 5% 12 months to date. Prices are up 5% over last Jan but still down 12 months to date.

The inventory of single family homes has been very low as sales pick up. March should bring more listings but if the inventory does not rise to match demand I could see prices climbing.

Nanaimo real estate listings

 

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