People often ask Realtors:
“ When is the TOP of the market?”
"When is the BOTTOM of the market?”
We NEVER really know that –of course—until we compile the stats & then look back at them.
Look at the attached graph—taken from MLS® data, in Nanaimo over the last two years.
You’ll see that in September 2012 the “Average Single Family” sale price was about $355,000.00---then it dipped down to about $345,000.00
You will also note that in April of 2012, and then has had a slow steady rise up to the now--August 2014 where the average price is ( to be exact ) $361,094.00.
- Average sale price of a lot--$161,212.00
- Average sale price of an apartment style condo--$220,046.00
- Average sale price of patio home style condo-- $277,256.00
- Average sale price of a townhome style condo--$259,516.00
So...WHEN’s the bottom of this market cycle ?
It was in March –April- May of 2012.
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