Since 2018 is winding down I thought it was time to recap the year* in real estate for the Nanaimo, Vancouver Island region. Despite some challenges, such as increased interest rates and the foreign buyers tax, we have seen another strong year in the Central Vancouver Island region, with strong activity in the residential real estate market with lots of transactions and numerous new developments. People from Vancouver, other parts of Canada and from all over the world continue to recognize the unparalleled quality of life that Vancouver Island offers.
To all my clients, thank you for working with me in 2018, I'm looking forward to your referrals!
If you are thinking about buying or selling in 2019, then I will be honoured to offer you my services.
1) Single Family Homes (Einfamilienhäuser):
Total Number of Units Sold: 1,286
Average Sell Price: $553,646 up 8% from 2017! (How much interest do you currently earn in your savings account?)
Median Sell Price: $529,900
Sell Price/ List Price: 99%
Sell/ List Ratio: 60%
Days to Sell: 26
2) Condos (Eigentumswohnungen):
Total Number of Units Sold: 408
Average Sell Price: $303,576 up 16% from 2017!
Median Sell Price: $282,000
Sell Price/List Price: 100%
Sell / List Ratio: 69%
Days to Sell: 22
3) Townhouses:
Total Number of Units Sold: 219
Average Sell Price: $341,335 up 9% from 2017!
Median Sell Price: $337,500
Sell Price/ List Price: 99%
Sell/ List Ratio: 56%
Days to Sell: 22
*Data provided by the Vancouver Island Real Estate Board. The numbers might inch up a bit in the next couple of days when all December Sales are being accounted for.
