APRIL 2011 NANAIMO REAL ESTATE MARKET UPDATE
March 2011 continued to bring more momentum for the traditionally busy Spring real estate market. Single family sales continued to rise to nearly the same levels as in 2010. This helped stave off further price erosion and bolster consumer confidence.
As we mentioned last month, condominium sales in Nanaimo have continued to struggle. With the market carrying over 10 months worth of inventory it is taking condominiums over 100 days on average to sell - much longer than single family homes in the same market.
We've seen increased activity in the major markets of BC including Vancouver. Our market typically lags behind these major markets and we are cautiously optomisitic that this trend will continue and we'll see major growth.
With Spring obviously here, we're encouraging anyone looking to buy or sell Nanaimo Real Estate to actively either start marketing their home or take the next steps towards buying as this is the best time of the year to do both!
If you'd like more info, please email us info@mattanddoug.com .