There were 174 single-family home sales in Nanaimo, BC in the first month of 2020, 16% down from the beginning of last year (and 25% down from December 2019). Condo sales volume was 3% lower in January 2020 than it was in January 2019.
With lower sales came higher inventory with 992 single family homes available compared to 981 January last year, also up 6% from the last month of 2019. Inversely matching the decrease in sales, available condos on the market increased 3% compared to January last year to 309 available and active listings.
Competition in the low and mid-ranges of the market continue to increase despite the government’s attempts at reducing demand. Many of the government initiatives to aid mid-range buyers and combat the demand side of
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