Ralph Kirby Realtor®

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Nanaimo Real Estate Market  Snapshot  to March 27 2015

For the week  to March 27st there have been  reported 46 sales of homes over $100,000 in Nanaimo and Protection Island. (Down 5 on the week.)

There were 81 new listings of houses. (Down 1 on the week.)

There are 860 homes listed in Nanaimo above $100,000.

 

The most expensive home reported sold in Nanaimo last week was on Lantzville Rd for $890,000.  It appears this was purchased in 1975 for $70,000. It is likely there has been substantial investment in the interim.

 

The largest winner was a sale on Cilaire. It appears the purchase was way back in 1986 for $74,000 and sold this past week at $360,000 for a gain of 486%.

Definitely owning beats renting for return on investment.

 

There were 10 sales where the previous purchase was over 10 years ago.

The average of last week’s sales from the time of purchase was 7 years.

 

25% sold between $110,000 and $285,000

25% sold to $345,000

25% sold to $406,000

25% sold to $890,000

There were  6 properties sold for more than $450,000 (down 7).

13 of the sales were either new construction or did not show any previous sale on the system (down 1). 

Of the 33 which had previous sales;  4  had a lower sales price than the previous sale. All the losers had been purchased between 2007 and 2011.

 

If you would like to know the value of your home; call me for a free , no obligation valuation.

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For the week  to March 21st there have been  reported 51 sales of houses over $100,000 in Nanaimo and Protection Island. Up 1 on the week.

There were 82 new listings of houses. Up 2 on the week.

 

The most expensive home reported sold in Nanaimo last week was on Bella Vista for $825,000.  It appears this was purchased in 2007 for $768,000. Up approximately 7% over 7 years. It appears there was a transaction in 2004 at $483,000. Certainly a 71% increase in 10 years is a good increase.

 

The largest winner was a sale on Rutherford. It appears the purchase was way back in 1992 for $140,000 and sold this past week at $402,000 for a gain of 288%.

Definitely owning beats renting for return on investment.

There were 7 sales where the previous purchase was over 10 years ago.

The average of last week  from the time of purchase was 6 years.

 

25% sold between $130,000 and $235,000

25% sold to $328,000

25% sold to $460,000

25% sold to $825,000

There were  13 properties sold for more than $450,000 (down 3).

14 of the sales were either new construction or did not show any previous sale on the system (down 3). 

Of the 37 which had previous sales;  6  had a lower sales price than the previous sale. All the losers had been purchased between 2006 and 2011.

 

If you would like to know the value of your home; call me for a free , no obligation valuation.

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Nanaimo Real Estate Market  Snapshot  to March 14 2015

For the week  to March 14th there have been  reported 54 sales of homes over $100,000 in Nanaimo and Protection Island.

25% sold between $158,000 and $285,000

25% sold to $360,000

25% sold to $450,000

25% sold to $810,000

There were  16 properties sold for more than $450,000

17 of the sales were either new construction or did not show any previous sale on the system. 

Of the 36 which had previous sales;  5  had a lower sales price than the previous sale. All the losers had been purchased between 2006 and 2010.

 

The largest winner was a sale on Bluejay Way. It appears the purchase was way back in 1989 for $77,000 and sold this past week at $276,000 a gain of 258%.

There were 15 sales where the purchase was over 10 years ago. This is interesting in that the average time a home is lived in is somewhere between 5 and 7 years.

The average of this group  was 9 years.

This is explained in part in that house prices in Nanaimo have not moved much since 2007. A lot of owners do not show a large increase in the last 8 years.

 

The most expensive home reported sold in Nanaimo last week was on Jameson for $810,000.  It appears this was purchased in 2008 for $795,000. Not much change for that period.

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