Welcome to the monthly real estate statistics newsletter. For both Nanaimo and Parksville/Qualicum the median price for freehold homes has been very similar to 2023 when we look at the whole year. However, we did see a stronger end to the year with regard to sales which is likely a result of the Bank of Canada rates coming down which is giving buyers more confidence. We have also seen more properties listed during 2024 than the previous year. With regard to the Bank of Canada rate, they have stated that they are going to take a more gradual approach in the coming year so we are probably not g ..read more

I have sold a property at 5250 Arbour Cres in Nanaimo on Jan 14, 2025. See details here Welcome to The Highlands in North Nanaimo. This charming 2 bedroom, 2 bath one level rancher gives you all the privacy of your own home with the convenience of strata living. The spacious Living/Dining area with gas fireplace and high ceiling flows into the Kitchen and nook/family room allowing room to visit with family and friends. A private patio for enjoying the moderate Vancouver Island Climate provides a relaxing place to enjoy nature, and your storage needs are met with a crawl space and attached gar ..read more

I have sold a property at 4820 Bridgewood Close in Nanaimo on Jan 14, 2025. See details here This Lovely end unit townhouse is located in the popular North Nanaimo area. It is unique for a strata having the rear fenced so ideal for those with dogs. Inside the lower level has a dbl garage, 2 piece bath, laundry and there is a bonus rm that can be utilised as a craft/hobby rm or workshop. There is also easy access to the 5' high crawlspace that is great for extra storage. Upstairs you will find vaulted ceilings, both hardwood and tile floors, stone counters, stainless steel appliances (under 5 ..read more

I just wanted to give a quick update on the market and real estate in general.  We saw a 50 basis point reduction of the Bank of Canada rate just before Christmas and the next meeting will be at the end of January. However, they did say that with the policy rate now being a lot lower than 6 months ago it is likely we will see a more gradual approach this year. However, with Trudeau stepping down and a new president south of the border we are still waiting to see if this has an impact. Already this year we have seen a bit more activity with regards to buyers coming off the fence and v ..read more

The assessed value for your property are now available, although you probably will not have received the written notification yet due to the delays caused by the postal strike. However, you can check them online, just go to https://www.bcassessment.ca/ and enter your address. You have until January 31 to file an appeal - don’t forget that the assessment is based on values as of July 1, 2024 so is already 6 months out of date. The process for appealing can be found at:  https://info.bcassessment.ca/Services-products/appeals#:~:text=The%20deadline%20to%20file%20an,information ..read more

Welcome to the last monthly real estate statistics newsletter of 2024, the December numbers will be sent out in January 2025 where you will be able to see the numbers for the whole year. As you might have read the Bank of Canada made another rate reduction on December 11th. They reduced the rate by 50 basis points to 3.25%. With the policy rate now a lot lower than 6 months ago they have said that if the economy evolves as they are expecting than they are likely to take a more gradual approach in 2025. Real Estate Statistics Synopsis for Nanaimo   The graphs below show the median sol ..read more

I have sold a property at 402 481 Kennedy St in Nanaimo on Dec 3, 2024. See details here Nestled in the heart of Nanaimo's historic Old City, this bright and open top-floor unit in Harbour Ridge Manor offers an unparalleled living experience. This charming 2-bedroom, 1-bath residence boasts unobstructed views of Mount Benson, providing a stunning backdrop for your daily life. The unit features modern updates and the convenience of in-suite laundry. Located on a quiet street, Harbour Ridge Manor offers tranquility while being just moments away from the best of Nanaimo. Enjoy the vibrant dining ..read more

Although median sold prices for freehold houses are down for 2023, when compared to 2022, they are not significantly lower and are still trending higher than 2021 and earlier. However, sales are down and when looking at the previous 10 years, 2023 had the lowest number of sales of freehold homes. When we look at the number of houses for sale the numbers are similar to 2020-2021 but are quite a bit lower than between 2014 and 2019 when we consistently saw more houses for sale. So although sales are down we do still have a low inventory of houses for sale, which is probably why prices hav ..read more

Please visit our Open House at 3279 Crystal Pl in Nanaimo. See details here Open House on Sunday, November 17, 2024 10:00AM - 12:00PM Beautiful original owner home on ¼ acre, overlooking Long Lake, with 5 beds/3 baths. This home has a great layout with many updates- kitchen (2017), upper bathroom and ensuite (2022), gas hot water tank (2019), roof (2021), garage door motor (2024) and stairs to the rear deck (2021). Upstairs you will find a large living rm with gas fireplace, 3 beds, a spacious kitchen/dining area that has sliders to the large 18'x11' south facing deck where there are views of ..read more

I have listed a new property at 7 1247 Arbutus Rd in Parksville. See details here This is a great updated home located in the best part of the park (being at the ocean end) and on a no through road so more private than elsewhere in the park. Plus, has peek-a-boo ocean view from the large rear deck and direct access to Arbutus Rd, which the seller uses for additional parking. Freshly painted inside and out the home also has new skirting, new gutters, new porch stairs and the roof was resealed in 2021. The kitchen has been updated, there are new toilets and the tub has been resprayed plus new f ..read more