Real Estate Statistics for November 2012

  Real Estate Statistics for November 2012

 

 

November 2012

October 2012

November 2011

Nanaimo                    

 

 

 

Unit Sales:                           

74

82

79

Average Sale Price: 

$348,624.00

$336,172.00

$361,210.00

 

Nanaimo home sales decreased 6% in November 2012 when compared with November 2011. The average sale price decreased 3%. The median house price was $331,500.00.


 

Parksville / Qualicum

 

 

 

Unit Sales:            

38

39

40

Average Sale Price:

$375,639.00

$355,965.00

$364,505.00

 

Parksville / Qualicum home sales decreased 5% in October 2012 when compared with October 2011. The average sale price increased 3%. The median house price was $370,000.00.


Synopsis:

 

In Nanaimo for November there were 495 active listings (5% less than the same month last year) of single family freehold homes and 314 (7% less than the same month last year) in Parksville/Qualicum. 

 

The graphs below are for Nanaimo and show the average sold numbers and average sold price since January 2009:

 

 

 

Following the announcement that Mark Carney will be departing to helm the Bank of England, it was back to business as usual at the Bank of Canada as interest rates were once again held constant at 1%. The Bank did note that while the global economy appears to have stabilised, it still remains vulnerable to major shocks from the US or Europe. The Canadian economy is growing at a slightly softer pace than the Bank expected, but is forecast to pick up in 2013.   On inflation, the Bank sees core inflation returning to its 2 per cent target over the next 12 months.

The Bank once again noted that a gradual withdrawal of monetary stimulus would likely be required, though the timing of such withdrawal would be weighed against global and domestic developments including the evolution of household imbalances. The general consensus is that there will be a 25 basis point increase in the Bank's overnight target rate occurring in mid-to-late 2013.

 

Ian Hodson

Ian Hodson
Telephone: (250) 756-1132
Toll Free: 1-800-377-4374
Fax: (250) 756-1210
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