1,524 Property for sale in Nanaimo listings are price checked
Listings from 4321property.com, kelownahomes.ca and 11 more
Property value calculations
Do not overpay! With property price calculations you can make better choices when you are looking for your next place to live.
Using artificial intelligence, we analyse property adverts daily from various property portals, saving you time and providing valuable insights.
How we calculate property prices
The estimated market value for properties is calculated by using a proprietary formula that includes detailed information about a home (bedrooms, bathrooms, size and so on), Additionally, location, market dynamics and other key details are extracted from property listings to determine the correct price evaluation.
The precision of the estimates rely on the availibility of data and should serve as guidance rather than absolute certainty.
We remain committed to transparency and providing valuable market insights to our users, by helping them navigate the property market with confidence.
Living in Nanaimo: A Quick Guide to the Real Estate Market & Neighborhoods
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Market status in Nanaimo
Our catalog on AllClassifieds offers a comprehensive overview of the real estate sales market status in Nanaimo (British Columbia, Canada), showcasing the latest trends and offerings. The city features various dwelling types, with houses leading with an average price of $ 1.1 million CAD, an average size of 2,291 sqft, and representing 82.1% of listings. Condos follow with an average price of $ 636,000 CAD, an average size of 898 sqft, and 16.7% of listings. Apartments make up 0.5% of listings, with an average price of $ 1.2 million CAD and an average size of 2,128 sqft.
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FAQ
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What are the property taxes in Nanaimo and are there any other ongoing costs I should consider?
In Nanaimo, property tax rates for 2022 were at $8.98 per $1,000 of assessed value for residential properties. Other ongoing costs may include utilities, home insurance, and maintenance fees. Additionally, if part of a strata, strata fees also apply. For precise tax rates and further information, visit nanaimo.ca.
What types of upfront costs and fees will I have to pay when purchasing a property in Nanaimo?
In Nanaimo, expect to pay property transfer taxes, legal fees, inspection fees, and potentially GST for new properties. The property transfer tax is 1% on the first $200,000, then 2% up to $2,000,000 of the property's value. Legal fees vary, inspection costs are around $ 500 CAD, and GST is 5% for applicable properties. Ensure a budget for these upfront costs.
How does the Nanaimo property market compare to ther regions in the Canada?
The average property price in Nanaimo, at approximately $ 665,000 CAD , is more affordable compared to Vancouver's average around $ 1,230,000 CAD but is higher than Calgary's average of about $ 490,000 CAD . This reflects Nanaimo’s mid-range position in Canada's real estate market, offering a balance between urban and more expensive coastal city prices.
How competitive is the Nanaimo property market?
The property market in Nanaimo, British Columbia, reflects significant competition due to its appealing location and amenities. For instance, in September 2023, the average sale price of a home was approximately $ 669,250 CAD , indicating a robust market. Specific properties, like a waterfront condo listed at $ 769,000 CAD , show heightened interest and competitive pricing. Furthermore, consistent sales growth and limited inventory demonstrate the market's competitive nature as buyers vie for desirable homes in attractive neighborhoods.
