Central Nanaimo Real Estate Update

There are 32 homes currently listed in central nanaimo.

Median list price - $316,888
Average list Price - $314,337

Lowest priced hoem $199,900 (a 900+ sf home on small lot)
Highest priced home $440,000 (new home with legal suite)

Central Nanaimo home sales in last 3 months 28 with average price of $280,000.

This would indicate to me that there is still movement in the lower end. Sales of homes over $300,000 in the last quarter 6. Given that we have 17 on the market over $300,000 at this pace we have 6 months supply. A buyers market in concidered by many to be 7 or more months of inventory. The sales pace should also pick up in the first 3 months of 2011. All things concidered central Nanaimo is currently in a balanced market but very close to being a buyers market.

If you are looking to buy or sell a home in Nananaimo give Doug Belcher with RE/MAX of Nanaimo a call.

Doug Belcher, RE/MAX of Nanaimo
250-619-6012 cell
250-751-1223 office
doug@dougbelcher.com
www.dougbelcher.com