Nanaimo Real Estate Market Snapshot to April 11 2015
Keep in mind this was again a 4 day reporting week due to the holiday.
For the week to April 11 there have been reported 58 sales of homes over $100,000 in Nanaimo and Protection Island. (UP 21 on the week (a big increase).)
There were 119 new listings of houses. (Up 30 on the week. Spring is here)
There are 937 homes listed in Nanaimo above $100,000 (up 38).
The most expensive home reported sold in Nanaimo last week was on Fillinger for $870,000. It appears this was purchased in 2004 for $455,000. That would represent 91% increase in about 11 years or 8% per year.
The largest winner was a sale on Woobank. It appears the purchase was back in 1998 for $149,000 and sold this past week at $342,000 for a gain of 130% over 17 years or 8% per year.
Definitely owning beats renting for return on investment.
There were 12 sales where the previous purchase was over 10 years ago.
The average of last week’s sales from the time of purchase was 9 years.
25% sold between $115,000 and $268,000
25% sold to $342,000
25% sold to $429,000
25% sold to $870,000
There were 13 properties sold for more than $450,000 (up 3).
15 of the sales were either new construction or did not show any previous sale on the system (up 6).
Of the 43 which had previous sales; 11 had a lower sales price than the previous sale. All the losers had been purchased between 2006 and 2009.
If you would like to know the value of your home; call me for a free , no obligation valuation.