Nanaimo real estate market

Industry Observer with Chateau Realty

Sales of real estate in Nanaimo in Sepember.

Lots sold 3
Single family homes sold 96
Condos sold 18
Town Homes sold 19

Active Listings

Lots  82
Single Family Homes 642
Condos 188
Town Homes 31

Prices seem to have come back to the 2007 levels on everything except condos and town homes. Conos and town homes have fallen in price about $20,000. There are not as many lots selling as compared to 2007 but the inventory is also about half of the 2007 level as well. The number of homes listed Sept 2011 was 642 compared to 528 in 2007. When inventory falls prices start to go up again. A four month supply of homes in inventory is concidered a balanced market. Condos still have a 10 month supply (a buyers market) which is why prices have dropped on condos and gone up for homes.


Douglas Belcher
RE/MAX Nanaimo Real Estate

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