With the start of Spring, the Market is continuing its torrid pace. We are seeing strong activity in homes priced below $500,000 while higher priced homes above $600,000 have slowed. That being said we are still experiencing low inventory and high demand here in Nanaimo.
The average price of single family homes in Nanaimo continue to rise, March saw a 13%, increase from $464,311 to $525,712 on a 12 month moving average basis. The number of days to sell a home has decreased 20% from March 2017, similar to the trend we saw throughout last year. This is in contrast to the last few months which saw the number of days to sell increase compared to previous months in 2017. Both condos and townhouses have also increased in average price, with condos seeing a 15% and townhouses a 33% increase. Days to sell a condo has decreased 7% which follows the decreasing days to sell trends of previous months. Townhouses have also decreased in days to sell by 58%.
For Inventory Statistics and further details and graphs see our Market Stats Page.