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.