Real Estate Statistics for January 2020

Below you will find the statistics for January 2020 for single family homes.
 
Although the number of active listings in Nanaimo is lower than January 2019 it is still slightly higher than we saw in January 2017 and 2018 but lower than January 2016 and 2019. It is the lowest number of homes sold in the last 5 years, although is the same as January 2013 and slightly higher than January 2009. We should see the number of homes listed and sold increase now we are past January, although the weather can still have an influence on those numbers as we saw during our week of snow!
 
Price wise the average for Nanaimo was a record, although I think this is likely to have been an anomaly due to the low number of sales and there were also some sales of homes priced over $1m which can skew the figures.


Real Estate Statistics for January 2020
 
  January 2020 December 2019 January 2019
Nanaimo      
Unit Sales: 43 67 55
Average Sale Price: $603,720 $571,519 $545,447
       
Parksville / Qualicum      
Unit Sales: 34 31 29
Average Sale Price: $637,968 $731,448 $589,015
         
Nanaimo home sales decreased 22% in January 2020 when compared with January 2019. The average sale price increased 11%. The median house price was $579,000.

Parksville/Qualicum home sales increased 17% in January 2020 when compared with January 2019. The average sale price increased 8%. The median house price was $595,000.
 
Synopsis for Nanaimo
 
In Nanaimo for January 2020 there were 215 active listings of single family freehold homes, which is 19% lower then January 2019.
 
The graphs below are for Nanaimo and show the average sold numbers and average sold price since 2016 (single family homes only.)

 


 
 
The following graph shows the % difference of the housing price index (HPI) from the same month 12 months ago. It is split into the different sub-areas and is for single family homes.

 
 
The following graph shows what is called the absorption rate. This is the time it would take the current homes for sale, to sell, if no new homes were listed, which indicates whether we have a sellers, balanced or buyers market.

 
 
The following graph shows how the homes sold v homes listed v total number of active listings have changed over the previous years.

 
 
These figures do concentrate on single family homes but if you would like similar information for other property types, such as apartments or patio homes, or specific geographical areas of Nanaimo or Parksville/Qualicum, then I would be more than happy to discuss those with you as well.
 
As always I hope you find these monthly newsletters informative and if at any time you or any of your friends, relatives or co-workers are looking for a professional realtor to help them buy or sell a home, or just have a real estate question, please call my personal cell, 250-739-1228, or drop me an email.
 
Thank you,
Ian
Comments:
Parminder on Feb 6, 2020 6:21 PM posted:
How is the houses market going on in nanaimo
Ian Hodson on Feb 6, 2020 7:00 PM posted:
Hi Parminder, thank you for your question. The market here is currently slower then we have seen in previous years but it is still very early in the year. However, prices have remained fairly level, although the January average price was high but it was based on a low number of sales. With interest rates predicted to stay around the same it is quite likely we will not see any great change in average prices, although it would be good to see an increase in the inventory as this can push prices up if there are not enough homes on the market for the number of buyers - as we saw in 2016-2017.

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Ian Hodson
Telephone: (250) 756-1132
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Fax: (250) 756-1210
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