NANAIMO FEB. 2013 JAN. 2013 FEB. 2012
UNIT SALES: 64 54 96
SALE PRICE : $351,918.00 $315,215.00 $349,585.00
Nanaimo home sales were down 33% when comparing only 2 months, Feb. 2012 and Feb. 2013. The actual decline for the entire 12 months was 4%. The average sale price was up 1%. The median house price was $350,000.00.
UNIT SALES: 37 27 30
SALE PRICE: $341,673.00 $343,930.00 $410,747.00
Parksville/Qualicum home sales were up 23% for the months of Feb. 2012 and Feb. 2013. Once again, we can see this number does not represent the entire year and can be misleading at first glance. The average sale price was down 17%. Same story here. The median house price was$318,000.00.
Job numbers out of Canada and the U.S. this morning were very strong and housing starts jumped as Canada moves thru a soft patch and growth once again picks up steam. Pent up demand for housing is showing up locally at open houses with a steady stream of buyers checking out the product. The uncertainty of 2012 is fading behind us and housing inventories stand at 481 units, down from 750 units one year ago.
It’s not likely you’re going to be in a better position than now to get the lowest price on a dwindling inventory of homes. The winter market is quickly drawing to a close and we can expect increased activity with sellers sticking closely to their asking price.
It’s been a long, hard road for sellers over the past few years but the market is starting to shift. Declining housing inventories, a strengthening job market and a growing economy signals an increase in housing sales for the sector. Nanaimo’s unemployment rate is at 3.6%, among the lowest in Canada. Net migration into B.C. continues to provide support for the housing market as the recovery strenghtens.
Interest rates are at all time lows and suited homes are a bargain. This will not last. Now is the time to step into the market before the Spring rush weakens your negotiating position as inventories continue to decline
OPEN HOUSE: Saturday 2 to 4 p.m / 341 Sunny Drive / MLS #349295
A brand new 5 bedroom, 2800 sq. ft. home in fashionable Cottle Creek Estates with a legal 2 bedroom suite, granite counter tops, engineered hard wood floors, stone ledger fire place and much more. $459,900.00. Located next to the Linley Valley in Departure Bay. See you there.
Thank you to all my clients who referred friends and family to me last month. Your referral fee cheques are in the mail.