Nanaimo, BC

Built in 2004 and located in Crest II one of North Nanaimo's most desirable parks this home is one of the largest ever listed in the area. This home is 1961 sq feet and features a large open concept kitchen and dining area, 2 bedrooms, 2- 4 pc bathrooms, an over sized living room and family room. The park is 55+ and is conveniently located close to Superstore, COSTCO and Woodgrove Mall. There is a massive 5' x 4' walk-in shower in the en-suite. Storage is plentiful; 5' x 6' walk-in closet, crawl space, insulated wired workshop, garden shed and lots of closets. The kitchen has oak cabinets a pantry and lots of counter space. There were $15,000 in extras built into this home including sunken living room and bedroom, skylight in the kitchen, furnace a/c ready, R/I vacuum, pantry, upgraded vinyl siding and extra windows in the living room and much more. Taxes are $1384 with basic grant.

Nanaimo real estate MLS listings

If early signs, based on the latest figures just released by VIREB are any indication, 2010 may shape up to be a good year for the Vancouver Island and Nanaimo Real Estate market, in terms of higher prices.

Sales volume for the VIREB (Vancouver Island Real Estate Board) for the month of December increased 121% with 300 units selling compared to 136 units selling in December of 2008, and declined 15% compared to the previous month November 2009. For Nanaimo Real Estate for the same period, sales volume increased 102% with the sale of 85 units in 2009 compared to only 42 in December of 2008 and staying the same from November 2008 to November 2009 from 85 units to 85 units sold.

The average sale price across the Vancouver Island region including, (Campbell River, Comox Valley, Nanaimo, Parksville/Qualicum and Port Alberni), for December 2009 was $341,126. This represents a 1% increase from the $337,926 posted at the end of December 2008. Average sale prices across six zones of Vancouver Island, from December 2008 to December 2009 are as follows: Campbell River was up 1% (to $294,866), the Comox Valley was up 6% (to $339,584), Cowichan Valley was up 11% (to $387,190), Nanaimo Real Estate was up 1% (to $373,330), Parksville/Qualicum was down 2% (to $387,388) and Port Alberni was down 11% (to $222,202).

For Nanaimo Real Estate the number of days to sell a listing decreased 4% from 61 days to 56 days and the Average Selling Price/Unit for the 12 months to date December 2008 to December 2009 was down slightly by 4% from $365,444 to $351,286, again, virtually the same as the last 3 months. There is currently a 3.92 month supply of homes on the market, which is a 13% decline from the previous month of November which had a 4.5 month supply of homes. This is based on 85 homes selling in the month of November and an active inventory of 334 homes. Go to www.kimbihari.com for more details.

Condos, for the period December 2009 compared to the previous year December 2008, the number of Apartment Style Condo units sold continued to rise increasing 90% from 10 units to 19 units. The number of days to sell increased 3% from 135 days to 139 days and the Average Selling Price/Unit for the 12 months to date December 2008 to December 2009 saw a 9% decrease in prices from $235,302 to $213,913. There is currently a 6.8 month supply of condos on the Nanaimo Real Estate market, which is a slight increase from the previous month of November which had a 6 month supply.

Townhomes, not including Patio Homes, sold in December 2009 compared to the previous year December 2008 decreased 43% from 7 units to 4 units. The number of days to sell decreased 38% from 82 days to 51 days and finally the Average Selling Price/Unit for the 12 months to date December 2008 to December 2009 increased 4% from $246,087 to $255,923. There is a 28 month supply of townhomes on the Nanaimo Real Estate market which is a 154% decrease from the previous month of November 2009 which had an 11 month supply.

For more in depth market information and stats go to: www.kimbihari.com

Stylish Family Home, great neighbourhood. Renovated half duplex 3 bedrooms 2 bath with new roof. Custom colours, stainless kitchen appliances updated flooring and lighting are just a few of the features of this bright family home. There is a large back yard facing a wooded area. Cul de sac BBQ'S and Christmas light parties make this a nice street sure to create lasting family memories. Appliances are included and no GST. Cozy quiet home; book your appointment today!

http://www.dougbelcher.com/listings/5140-A-Carol-Place/5140-A-Carol-Place-half-duplex.html

I noticed that it was harder to find any homes under $300,000 and decided to see where the inventory was sitting relative to last year. After reviewing numbers for the last two years I found it was at a new low.

(see graph)

www.dougbelcher.com/

The extension of the Nanaimo Airport runway was recently completed in November and came in under budget. With the completion of the expanded runway jet aircraft up to and including Boeing 737, which seats more than 130 passengers and has a range exceeding 10,000 kilometers will be able to take-off and land in Nanaimo.

The type of regional range jets actually servicing Nanaimo will ultimately be market driven. Higher capacity, longer-range aircraft are sure to be needed as more passengers pass through the airport due to Vancouver Island's continued population and business growth. Passenger traffic could hit 334,000 annually by 2026.

Nanaimo Airport's reliability issue is also being addressed. Because the airport must often halt flights when the runway is obscured by fog and other foul weather conditions, new lighting, that will guide aircraft onto the runway during their final approach, and an instrument landing system are being installed.

- In 2006 Nanaimo Airport contributed to 584 jobs and generated gross revenues totaling $41 million for the B.C. economy.

- An economic impact study forecasts with completion of the runway extension and infrastructure upgrades, Nanaimo Airport is expected to contribute to 857 jobs and generate $59.4 million by 2011.

- With higher capacity jet aircraft, an estimated 204,000 passengers will pass through Nanaimo Airport in 2011- up from 137,000 passengers for 2006.

- The Airport is expected to become a major economic driver for the Nanaimo region. A forecast for 2026 estimates it will generate $122 million in total annual revenue and sustain 1,617 jobs.

Phase 2 of the expansion, which has already received the required funding, is due to begin shortly and will include an expanded terminal and additional parking for the increased demand expected to follow.