Another month has gone by, and I hope everyone had a good Remembrance Day long weekend. With Real Estate entering the winter months, some of the biggest questions out there is; How is the Real Estate Market doing on Vancouver Island? Are the prices of homes going to drop a lot now that the market is shifting?
The plain and obvious answer is, that yes the market has started to shift. You can see it all over the major cities like Vancouver and Victoria, but here in Nanaimo? Yes, we have had a shift also, there are more inventories. That being said, prices of homes have stayed steady, and homes are still selling. Below is graph information for you to really digest on how the market is here locally in Nanaimo and its surrounding area.