Mid Vancouvber Island’s Average Real Estate Prices Retreat fro Decemember 2011
NANAIMO: DEC. 2011 NOV. 2011 DEC. 2010
UNIT SALES: 57 79 64
SALE PRICE: $332,400.00 $361,210.00 $357,101.00
Nanaimo unit sales were down 11% from Dec. 2010 thru Dec. 2011. The average sale price of a home in Nanaimo declined 7% during that time. The median house price in December was 340,000.00
PARKSVILLE/QUALICUM DEC. 2011 NOV. 2011 DEC. 2010
UNIT SALES: 24 40 29
SALE PRICE: $343,292.99 $364,505.00 $375,759.00
Parksville / Qualicum unit sales were down 17% from Dec. 2010 thru Dec. 2011. The average sale price was down 9%. The median house price was $317,000.00
Housing inventory remained relatively stable throughout the region. There are currently 5.5% more listings on the market now than one year ago. International events continue to affect market sentiment. An economic recovery appears to be taking hold in the U.S. as GDP expands and retail sales rise. Unemployment continues to decline slowly. Asian economies also continue to expand.
The year ahead remains uncertain and could move either way depending on whether Europe puts its financial house in order. Interest rates remain low and the island population continues to grow as Canadians maintain their steady migration to retirement here on the west coast.
For more information on the Mid Island Real Estate Market contact Steve Pakozdy at Royal LePage Nanaimo Realty
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