July 2011 Housing Sales Statistics

Published By: on August 4th, 2011 in Category Nanaimo Real Estate News
Published By: on August 4th, 2011 in Category Nanaimo Real Estate News

Here’s what the lastes stats from VIREB (Vancouver Island Real Estate Board) tell us:

Single Family Homes: The number of new listings this month is about the same as last year however, the total number of houses for sale in Nanaimo is 720 compared with 670 last year. Sales for July 2011 are down 18% and prices are 7%. The average house sells for 97% of its asking price and is on the market for 50 days. It looks like a buyers’ market to me – lots of inventory and lots of competition for the buyers’ dollars.

Condos:  The number of newly listed condos is the same as last year and the total inventory is 221, compared to 278 last year to date. The average sale price is down 14% from last July. On average condos are selling for 96% of their asking price with an average of 57 days on the market.

Townhouses:  The number of townhouses newly listed is down a dramatic 48% from last July but the total inventory is about the same at 169. The average selling price is down 17% from last July and units are selling faster than last July with an average of 55 days on the market compared to 99 days in 2010. They are selling, on average for 96% of their asking price.

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When I decided to sell my home in Cedar by the Sea last April, I asked Love Real Estate Group to list it. Within a week, I had offers and a purchaser. Next, Love Real Estate Group showed me a number of potential residences that could meet my needs. Within three weeks, I was very interested in buying a townhouse, made an offer and it was accepted. I was very impressed with Love Real Estate Group’s manner in which they dealt with me. Their advice, professionalism and prompt service were especially appreciated. I would highly recommend these Ladies to others if they are seeking either to sell or buy a home. Thanks again Love Real Estate Group.

Al Cormon

Marie and LOVE Real Estate Team are simply the best. Marie’s excellent advice, knowledge of all things house-related, her attention to detail, and outstanding commitment all factored into us getting the house of our dreams!

Throughout our experience working with Marie, she demonstrated her integrity time and again through her dealings with us and with other realtors. Throughout the process of looking for and purchasing our new home, she was patient, understanding, and an absolute pleasure to work with. We have come to trust her completely and we would highly recommend her to anyone.

Chris and Miki Flynn