Real Estate Blog

January 2020 Market Review

January Market Stats

Nanaimo Area

Total Unit Sales

  • There were 124 total units sold this January in the Nanaimo area, which is down 5% from this time last year.
  • There were 767 active listings this January, compared with 760 this period last year.
  • There were 270 new properties listed in January this year which is a 8% drop from the 294 listed last January.
  • The average days to sell is sitting at 41 days, which is down significantly from the 54 days we were at last January.

*Note, these totals include ALL Real Estate divisions including IC&I*

Single Family Homes

  • The average sale price of a Single Family home in January 2020 has gone up 11%, its currently sitting at 603,720
  • January 2020 saw 215 active Single Family Home listings while this time last year had 266.
  • Average days to sell this January was 46 days, which isn’t a huge change from the 43 days we were sitting at last January.
  • There were 43 sales reported for January this year in this category. 

Apartment Style Condos

  • Condo prices are down 9% this month, with the average sale price for January 2020 sitting at $295,786. 
  • January of this year saw 103 active condo listings which is down slightly from the 109 we had this time last year. 
  • Days on market is sitting at 41 days for January of 2020 which is up from the 34 days average for last January. 
  • There were 22 reported sales for January of this year in this category.

Vacant Lots

  • The average sale price of a vacant lot is down only 4% from this time last year. It’s currently sitting at 258,500.
  • This time last year there were 70 active lot listings, there is a lot more choice this year with that number sitting at 111.
  • The average days to sell a Lot for this time last year was 56 days. This January that number has gone up slightly to 64 days.
  • There were 8 reported sales for January of this year in this category.

Average Sale Info by Neighbourhoods

  • The highest average sale price was $776,500 (from 4 sales) in the Departure Bay area
  • The lowest average sale price is $365,000 (from 1 sale) in the Pleasant Valley area.
  • North Nanaimo saw the most sales, in January with 10 sales.
  • There were 4 neighborhoods (South Jinglepot, Extension, Old City and Lower Lantzville) that did not have any reported sales for January 2020.
NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.