Nanaimo Real Estate Market Update – December 2017

The Nanaimo Real estate market closed off the year with the busiest December on record with 667 housing units selling last month. Sales of single-family homes increased by 35 per cent from December 2016. Apartments and Townhomes increased by twenty four per cent and twenty six per cent respectively.

The year end numbers report that there was an annual decrease in homes sold (single-family homes sold on MLS decreased by 7%),  however, this reduction reflects the market returning to more normal levels from the unprecedented sales activity generated in 2016 and inventory shortages.

Let’s take a closer look at Nanaimo’s housing market numbers for December…

Nanaimo Single Family Home Price

The benchmark price for a single family home in Nanaimo for December came in at $509,500. That is slightly up from one month ago from $497,200 and up 16.55% compared to December one year ago.

 

Nanaimo Apartment Price

The benchmark price for an apartment in Nanaimo for December 2017 came in at $293,700 which dipped a little over 3% in price from the previous month. However, apartments still remain as a strong investment with prices rising 24.08% compared to one year ago.

Nanaimo Townhouse Price

The December benchmark price for a townhouse in Nanaimo came in at $326,000 – a 2.03% rise from one month ago and a fantastic 26.2% from one year ago.

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