Everyone loves stats…
Well maybe not but it certainly seems like it sometimes. Earlier this week I got my fingers on a new set and type of stats from the Vancouver Island Real Estate Board (VIREB). It provides a context to the ongoing series I’m putting up about “Up Markets and Down Markets, When to Buy or Sell.”
These are the stats of the average sale price of single family properties in Nanaimo from 1982 until the present. I personally wish that it went back further, but 1982 was when they started to calculate these averages around here and there’s not much I can do about changing that.
I’ll let the stats speak for themselves in context of the series I’ve been posting recently. I just want point out that many people have the perception that property values are something like the stock market in that the prices jump up and down a lot. You can see from these stats that this perception is very much not the case.
Here are the stats: