April 2008 Update: Nanaimo BC

Now that the Easter holiday's and Spring break have come and gone, Spring is officially here! In Nanaimo, the Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for March 2008, shows a drop in unit sales with average sale price increases. The average sale price across the VIREB region for March 2008 was $338,846. This is an 8 per cent increase from the $313,560 posted at the end of March 2007. Unit sales volume increased slightly from the end of February 2008 to the end of March 2008, but dropped approximately 30% from March 2007. It’s a balanced market with plenty to choose from and we’re seeing more and more interest from elsewhere in Canada. As always, proper pricing continues to be key in this marketplace and our prices continue to be more affordable than Victoria and Vancouver.

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