{"id":79,"date":"2016-02-01T15:18:27","date_gmt":"2016-02-01T23:18:27","guid":{"rendered":"http:\/\/www.jahelkarealestategroup.com\/blog\/?p=79"},"modified":"2017-03-02T15:18:56","modified_gmt":"2017-03-02T23:18:56","slug":"nanaimo-market-recap-january-2016","status":"publish","type":"post","link":"https:\/\/www.jahelkarealestategroup.com\/blog\/nanaimo-market-recap-january-2016\/","title":{"rendered":"Nanaimo Market Recap: January 2016"},"content":{"rendered":"

Single family home sales volume (number of homes sold)\u00a0in January\u00a0exactly mirrored the 63 homes sold in\u00a0January of 2015. The average sale price continued it\u2019s upward ascent, with a year-over-year increase of 5.2% to $386,056. Other factors that we look at when analyzing a market to validate the strength of the trend are the sell\/list ratio, sell price\/list price, days to\u00a0sell and current inventory numbers, among others.\u00a0The sell\/list ratio is up 28%, the sell price\/list price was flat at 97%, the average number of days on the market has decreased by 18% and the number of active listings had decreased from\u00a0356\u00a0in January of last year to\u00a0275 last month, a\u00a0decrease of nearly 23%.\u00a0\u00a0All of these indicators support the fact that the up trending market is continuing and we look poised for a strong spring market. With the number of active listings decreased significantly, buyers are finding it challenging to find suitable options, so when quality properties hit the market, homes are selling very quickly very close to the ask price. With limited inventory, now is a great time for homeowners thinking about selling their property to list to capitalize on the pent up demand before the traditional flood of homes hit the market come March\/April\/May.<\/p>\n

Areas continuing to show strength in price appreciation include North Nanaimo, Hammond Bay,\u00a0Pleasant Valley,\u00a0Cedar and the Old City.<\/p>\n

Apartment condos were the strongest gainers in year-over-year price appreciation by category. Single family homes and lots also faired well, with price appreciation on the average property showing an increase in excess of 5%. With development in full swing, the number of lots sold not surprisingly has picked, with a 140% increase posted year-over-year.<\/p>\n

If you have any questions about market conditions or would like more details\u00a0specific to your neighbourhood, please contact us at info@jahelkagroup.com and we would be happy to help.<\/p>\n

Check out the Nanaimo Market Statistics here: market-statistics-january-2016<\/a>.<\/p>\n

source: VIREB<\/p>\n","protected":false},"excerpt":{"rendered":"

Single family home sales volume (number of homes sold)\u00a0in January\u00a0exactly mirrored the 63 homes sold in\u00a0January of 2015. 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