Nanaimo Real Estate Market Snapshot to April 4 2015
Keep in mind this was a 4 day reporting week due to the holiday.
For the week to April 4 there have been reported 37 sales of homes over $100,000 in Nanaimo and Protection Island. (Down 9 on the week.)
There were 89 new listings of houses. (Up 8 on the week.)
There are 899 homes listed in Nanaimo above $100,000 (up 39).
The most expensive home reported sold in Nanaimo last week was on Finnerty Pl. for $755,000. It appears this was purchased in 2003 for $405,000. That would represent 86% increase in about 12 years or 7% per year.
The largest winner was a sale on Fillinger. It appears the purchase was back in 2001 for $176,000 and sold this past week at $462,000 for a gain of 163% over 14 years or 11% per year.
Definitely owning beats renting for return on investment.
There were 15 sales where the previous purchase was over 10 years ago.
The average of last week’s sales from the time of purchase was 11 years.
25% sold between $141,000 and $268,000
25% sold to $342,000
25% sold to $432,000
25% sold to $755,000
There were 10 properties sold for more than $450,000 (up 4).
9 of the sales were either new construction or did not show any previous sale on the system (down 4).
Of the 27 which had previous sales; only 2 had a lower sales price than the previous sale. All the losers had been purchased between 2008 and 2009.
If you would like to know the value of your home; call me for a free , no obligation valuation.