January sales volume for Single Family Homes continued to be strong for the VIREB region. There was a 6% decrease on a year over year basis and Nanaimo saw a 3% decrease in sales of Single Family Homes for the same period.
The average price of single family homes in Nanaimo increased 15%, increasing from $451,869 to $518,896 on a 12 month moving average basis. The number of days to sell a home decreased 35% from January 2017, which follows the trend of decreasing days to sell that we have been seeing throughout the last year. Both condos and townhouses have also increased in average price, with condos seeing a 15% and townhouses a 13% increase. Days to sell a condo has increased by 12% changing slightly from the trends of previous months. Townhouses have decreased in days to sell by 32%.
For Inventory Statistics and further details and graphs see our Market Stats Page.