NOVEMBER 2011 NANAIMO REAL ESTATE MARKET UPDATE
Well with mustaches out in full force to help keep men's upper lips warm, it's the perfect time for the weather to change for the worse. We're looking forward to snow on the mountain, a family trip to Mexico and a busy end to the year.
As the fall real estate market in Nanaimo comes to a close we're seeing good signs of stability for the future. As shown above, the average sales price has crept up slightly again for the third straight month and has almost gotten back to where is was last spring. It's important to note that when discussing these price changes, we're talking about a few thousand dollars on a few hundred thousand dollars; literally, one or two percent changes over the course of two years. These negligable changes are mere technicalities as we all know statistics can be made to prove nearly anything these days.
It is nice to see a steady amount of sales over the last eight months. We didn't see the traditional peaks of spring and fall and the valleys of summer (and hopefully not winter as well). This further leads us to believe that we'll be moving into a very balanced market for the near future.
Well what does that mean? It's simple. If you're looking to sell your home, you shouldn't have much trouble if it is in good condition, priced right and gets maximum exposure to potential buyers. And if you're looking to buy, there will be plenty of selection and with interest rates slated to stay the same for the near future you won't have to rush into anything.
It's truly an exciting time to be in the real estate market.
If you or anyone you know is looking to buy or sell in today's market, please let us know and we'll be sure to treat them like gold.
Take Care,
Matt.