Mid Island Market Slows Significanlty, but Average Price Up.
NANAIMOÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â JULY 2010Â Â Â Â Â Â Â Â Â Â Â Â Â JUNE 2010Â Â Â Â Â Â Â Â Â Â Â Â Â Â JULY 2009
UNIT SALES:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 102Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 115Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 164
AVERAGE
SALE PRICE:Â Â Â Â Â Â Â Â Â Â Â Â Â $382,672.00Â Â Â Â Â Â Â Â Â Â Â Â Â Â $362,018.00Â Â Â Â Â Â Â Â Â Â Â Â Â Â $363,528.00
Nanaimo home sales were down 38% from July 2009 thru July 2010. The average sale price was up 5%. The median house price was $364,900.00
 PARKSVILLE/QUALICUM
UNIT SALES:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 58Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 59Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 80
 AVERAGE
SALE PRICE:Â Â Â Â Â Â Â $377,506.00Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $396,488.00Â Â Â Â Â Â Â Â Â Â Â $370,793.00
Parksville / Qualicum home sales were down 28% from July 2009 thru July 2010. The average sale price was up 2%. The median house price was $349,000.00.
 SYNOPSIS:   MARKET SLOWS SIGNIFICANTLY
Real estate activity has slowed significantly in recent weeks as buyers step back from the table and wait for lower prices and improved economic conditions. Record inventory levels continue to exert downward pressure on home prices. We are already seeing price declines across the region. Interest rates are forecast to continue to increase even as the unemployment rate rose to 8% this morning.
 Sellers must be aggressive with their pricing if they hope to attract buyers. Listing their properties slightly below market value should generate offers. Competition for a dwindling buyer pool is stiff. With the fall approaching, sellers have a limited window of opportunity to get it sold or hold until the spring of 2011. The media is full of stories indicating slowing market conditions.
If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill or David at Properties In Victoria Professionalâ„¢ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.com or just email Bill and Dave
 Properties in Victoria Professionals™- Royal LePage Coast Capital Realty
Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.
August 9th, 2010 at 9:43 am
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