The president-elect of the Vancouver Island Real Estate Board and Nanaimo realtor says the harbour city is in recording breaking territory.
Janice Stromar says 210 homes were sold in Nanaimo during the month of May…
The May 2016 benchmark price of a single-family home in Nanaimo rose 10 point 8-2 per cent to just under 390,000 dollars.
In the Parksville-Qualicum area the benchmark price rose by 14 point 3-1 per cent to just under 418,000 dollars.
Not to be outdone, the real estate market on the sunshine coast is a busy one.
Realtor Gary Little says the real estate market is heating up…….
During the previous month, 244 homes were sold, a 154% increase in sales compared to May of 2015. 96 homes were sold during May last year.
Vacant lots are popular too……
Little says they sold 78 vacant lots during the previous month and in 2014 only 73 lots were sold the entire year.