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Nanaimo Real Estate Market

By
Industry Observer with Chateau Realty
Real Estate Market in Nanaimo heats up in 2007.
I wondered if it was just me or if everyone else selling real estate felt things were getting a little crazy. I asked around the office and everyone is having a tough time keeping up with the pace of new inquiries. I have never had so many out of town buyers' asking about land and homes in Nanaimo. I have just this week got phone calls from Texas and Ireland. E-mail inquiries are pouring in from all over the world but mostly from other Provinces.The parking lot being half full at night and on weekends might have been a clue. The number of single family homes sold is actually down from last year but prices are going up fast and the number of lots and condos sold is up about 50%.

See the statistics for March that were just released this week. (Click Here for Nanaimo Real Estate Stats from the MLS)

Looking at the recent stats I noticed that condo sales and bare land (lot sales) are up about 50% this time over last year. I guess this is because buying a entry level home is becoming more and more expensive.

The two homes I recently had listed below $300,000 both sold within the week and the condo I had listed under $100,000 sold the same week.

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