Welcome to the monthly real estate statistics newsletter for September 2020. When these reports are produced you may notice that the previous months numbers will change when compared with the last market report. So, the August numbers on this report will appear different to last months report. The reason for this is that the real estate board use the date of sale to calculate their statistics and the date of sale is when the Contract of Purchase and Sale is written. However, the sale can only be included in the sales numbers once subjects are removed which can be approximately 2 weeks after the offer was written. Therefore, if an offer is written on September 9th and subjects are removed on September 23rd then that sale would appear in the September sales numbers. However, if the offer was written on September 22nd and subjects are being removed on October 6th it would not appear in the sales numbers for September. However, once subjects are removed on the 6th that sale would be included so when the November market report comes out you will see different sales numbers for September then were shown in the September market report. You will therefore see in each market report the sales numbers for the previous month will be higher than the sales numbers shown in that month’s report as any offers that were written in the last two weeks of the month are quite likely still waiting for subjects to be removed so are not included. Real Estate Statistics for September 2020
Synopsis for Nanaimo
The graphs below show the median sold price, sold numbers and number of new listings since the beginning of each year (freehold homes only.)
Median Sold Price:
Number of new listings:
The following graphs shows the % difference of the housing price index (HPI) from the same month 12 months ago. It is split into the different sub-areas (the overall figure for Nanaimo is on the left of the graph) and is for single family homes.
The following graphs are for Nanaimo and show the sales numbers against new listings and sales numbers against total active listings. This is helpful to show how the market is doing as the closer the 2 lines come together on each graph generally indicates a busy active market.
The following graph is for Nanaimo and shows the months of inventory. This is the time it would take the current freehold, single family homes for sale, to sell, if no new homes were listed, which indicates whether we have a sellers, balanced or buyers’ market.
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