Nanaimo Real Estate Statistics for September 2016

Nanaimo Real Estate Statistics for September 2016

 

 

September 2016

August 2016

September 2015

Nanaimo

   

 

Unit Sales:

158

165

109

Average Sale Price:

$476,691

$455,376

$391,803

 

 

 

 

Parksville / Qualicum

     

Unit Sales:

68

96

77

Average Sale Price:

$490,360

$506,398

$403,008

         

 

Nanaimo home sales increased 45% in September 2016 when compared with September 2015. The average sale price increased 22%. The median house price was $421,000.

Parksville/Qualicum home sales decreased 12% in September 2016 when compared with September 2015. The average sale price increased 22%. The median house price was $450,000.

 

Synopsis

 

In Nanaimo for September 2016 there were 233 active listings of single family freehold homes and 165 in Parksville/Qualicum.

 

The graphs below are for Nanaimo and show the average sold numbers and average sold price since January 2013 (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.

 

 

Due to the lack of inventory available currently 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. This is for Nanaimo and shows single family, freehold homes.

 

 

The Bank of Canada announced this morning that it is holding its target for the overnight interest rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that the profile for growth in Canada over the near-term is lower than it previously expected though the Bank is still projecting stronger growth in the second half of 2016. However, the Bank has pushed out its forecast for the economy to return to full capacity to mid-2018 while inflation is projected to return to its 2 per cent target next year. 

 

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 Hodson

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