Nanaimo Real Estate Market Snapshot to April 18 2015
For the week to April 18 there have been reported 60 sales of homes over $100,000 in Nanaimo and Protection Island. (UP 2 on the week)
There were 73 new listings of houses. (down 46 on the week.)
There are 930 homes listed in Nanaimo above $100,000 (down 7).
The most expensive home reported sold in Nanaimo last week was on Fillinger (again) for $1,020,000. It appears this was purchased in 2010 for $1,100,000. That would represent 7% decrease in about 5 years or 1% per year. Appears the previous purchase of this property was for $775,000 in 2005. That would represent 32% increase in about 10 years or 3% per year.
The largest winner was a sale on MacMillan. It appears the purchase was back in 2004 for $80,000 and sold this past week at $220,000 for a gain of 175% over 11 years or 16% per year.
There was a house on Lambert purchased for $22,000 in 1986 sold for $220,000.
Another house on Harvey was purchased for $32,000 in 1976 and sold for $238,000.
Definitely owning beats renting for return on investment.
There were 16 sales where the previous purchase was over 10 years ago.
The average of last week’s sales from the time of purchase was 5 years.
25% sold between $110,000 and $238,000
25% sold to $345,000
25% sold to $400,000
25% sold to $1,020,000
There were 12 properties sold for more than $450,000 (down 1).
15 of the sales were either new construction or did not show any previous sale on the system (NC).
Of the 45 which had previous sales; 14 had a lower sales price than the previous sale. All the losers had been purchased between 2006 and 2014.
If you would like to know the value of your home; call me for a free , no obligation valuation.