February home sales are up 19% over last year at the same time. Year to date figures are -18% however. The was some pent up demand I suspect over the last few months. How March turns out will depend on market confidence and interest rates. The HST change seemed to have a big effect on last year.
The price of a single family home in Nanaimo is down 2% from last year. One has to remember that average home price statistics can be scewed by the sales mix. If we sell 10 new homes for $525,000 and only one home for $320,000 it would appear that homes are worth more. This only suggests that this month more people want new homes not that the $older homes grew in value.
To view all of Nanaimo's real estate statistics: http://www.dougbelcher.com/nanaimo-mls-real-estate-stats/doug-belcher-mls-sales-stats.htm
Doug Belcher RE/MAX of Nanaimo
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