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| ThompsonGodfrey NewsletterWinter 2008 | | We have entered the New Year on a run! If anyone out there thought that we were going to be slow this time of year, we can tell you that isn’t the case. Our Remax of Nanaimo listings board is onto it’s 7th board and we still have a week to go in January. Listings usually start picking up more towards the end of January and into February, but this year it started January 2nd! Our sales board is filling as well, as the buyers are out there looking already. This time of year we seem to see more local activity with less out of town buyers, which we think is a good sign that our market is still strong. If the locals aren’t buying, then why would the out of town clients feel comfortable buying here? Looking back at 2007, we can see some healthy trends continuing. Our price increases have steadied at a very respectable 12 % for the average home prices over the past year. That is down slightly form the 14% from 2006 but still stronger than the early 2000 – 2002 period. A more modest price increase will allow our kids to have a better chance of entering the market at some point. The volume of homes sold last year was up 20% over the prior year, with the average number of days on the market remaining steady at 46. Our real estate market was equally as strong for the lots, town homes and apartments. We all know the Real Estate market is cyclical, but at this point we don’t see any trend towards the end of this good run the markets have had over the past 5 years. If you have any inquiries about our market, or would like a free home evaluation of your home done, then please give us a call at the Thompson Godfrey Group and we will be happy to help.
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