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Nanaimo Real Estate Market Update – February 2019

Homes sales in the Nanaimo region continue to come in depressed compared to one year ago due to the market adjustment attributed to the Mortgage Stress Test. 

In Nanaimo home sales have dropped 38% compared to January numbers from last year. These numbers fall somewhere in the middle of other regions also seeing a drop in sales affected by the stress test. 

Again, home owners shouldn’t be alarmed by the drop in sales because home prices continue to grow steady.

Let’s take a closer look at Nanaimo’s real estate market numbers from January 2019 ….

Nanaimo Single Family Home Market Price

  • Benchmark price for a Single Family home came in at $541,700 
  • .63% increase from 1 month ago
  • 4.69% increase from 1 year ago

Nanaimo Apartment Market Price

  • Benchmark price for a Apartment in Nanaimo came in at $332,300 
  • .44% increase from 1 month ago
  • 10.26% increase compare to 1 year ago

Nanaimo Townhouse Market Price

  • Benchmark price for a townhouse in Nanaimo came in at $347,200 
  • 0.44% increase from 1 month ago
  • 10.26% increase from 1 year ago

Nanaimo Area Sales

Here is a closer look at the average sale price of a home in the different areas in Nanaimo as well as the sale volume.