Nanaimo housing market is firmly in seller’s territory, with buyer demand continuing to outpace supply in most areas...
In April 2016, 662 single-family homes sold on the MLS® System compared to 449 last April, an increase of 47 per cent. Month over month, sales were up by 27 per cent from the 520 sales processed in March 2016. Last month’s active listings totaled 1,697, down 26 per cent from the 2,305 reported in April 2015. I see that the market continues to be fueled by consumer demand. Buyers are pursuing home purchases, with multiple offers the norm rather than the exception throughout British Columbia. The question is whether we will see the same level of housing activity come the end of the year remains to be seen.”
Nanaimo’s benchmark price rose 9.08 per cent to $379,300 while the Parksville-Qualicum area saw its benchmark price rise by 10.69 per cent to $399,500.
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