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.
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.