February Market Stats

Nanaimo, BC - We've crunched the numbers and are happy to report that sales of single-family homes in the VIREB (Vancouver Island Real Estate Board) area last month rose by 15 per cent year over year and were 49 per cent higher than in January.

Last month, 260 single-family homes sold on the MLS® System compared to 174 in January and 227 one year ago. Apartment sales in February dropped by 19 per cent year over year, while the number of townhouses sold decreased by 10 per cent from one year ago.

The benchmark price of a single-family home board-wide was $516,500 in February, a three per cent increase from one year ago and marginally higher than in January. In the apartment category, the year-over-year benchmark price rose by five per cent, hitting $310,800, which is slightly higher than the previous month. The benchmark price of a townhouse in February rose by two per cent year over year and was a bit higher than in January, climbing to $411,200.

For more statistics and additional information, refer to our comprehensive stats package at https://bit.ly/2PEJzK6.