Buyers taking a measured approach in Spring Market Last month, there were 391 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, a 22 percent decrease from one year ago (500) and a three percent increase from March 2023 (381). Sales of condo apartments in April came in at 77, declining by 31 percent year over year and increasing by 17 percent from the previous month. In the row/townhouse category, 88 units changed hands in April, down six percent from one year ago and up by 14 percent from March. Active listings of single-family homes were 956 in April, up fro ..read more

Housing Market Brisker Than Expected in March The March 2023 Real Estate Market Stats are here! They show us that last month, there were 381 sales of single-family homes in the Vancouver Island Real Estate Board (VIREB) area, a 26 percent decrease from one year ago (515) and a 73 percent increase from February 2023 (220). Sales of condo apartments in March 2023 came in at 66, declining by 46 percent year over year and increasing by three percent from the previous month. In the row/townhouse category, 77 units changed hands in March, down 26 percent from one year ago and up by 54 percent from F ..read more

The market picking up steam as we head toward spring The Nanaimo Real Estate Market Stats for February 2023 are here! They show us that 220 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area last month. This is a 37% decrease from a year ago in 2022, but a 33% increase from January 2023 (when 165 homes were sold). Kelly O’Dwyer, 2023 VIREB Chair said: “We’re still seeing some multiple offers on well-priced properties. But the market is more price-sensitive than we’ve seen in some time. Buyers are savvy and unwilling to stretch their budget by more than they can com ..read more

QUIET DECEMBER CLOSES OUT THE YEAR The Nanaimo Real Estate Market Stats for December 2022 are out! They show us that 200 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area. This is a 10% decrease from a year ago in 2021, and down 18% from October 2022. Erica Kavanaugh, 2022 VIREB Chair said: “December sales activity reflected a typical end-of-year market, which is usually slower during the holiday season. REALTORS® are reporting that some clients are taking a wait-and-see approach, opting to wait until spring, which typically sees more interest from buyers and an u ..read more

CONTINUING INVENTORY GAIN POSITIVE SIGN FOR NEW YEAR The Nanaimo Real Estate Market Stats for November 2022 are out! They show us that 244 single-family homes sold in the Vancouver Island Real Estate Board (VIREB) area. This is a 30% decrease from a year ago in 2021, and down 2% from October 2022. Erica Kavanaugh, 2022 VIREB Chair said: “Our statistics indicate that active listings are nearing our 10-year average. This is a positive development and good news for buyers. Lack of inventory contributed to the creation of a long-standing sellers’ market that presented many challenges for our buyer ..read more

Talking Money With Barbara O’Neill Talking money can be an awkward conversation depending on the situation, but it really shouldn’t be. Why do we think that is? Having conversations about money seems to be awkward, or unnecessary for a lot of different people. When the truth is the exact opposite. Talking about money with your spouse, or your family members, or a professional has been shown to help work through whatever you may be dealing with. In a couple of my previous blogs, similar themes come up and the professionals I speak with tend to agree that talking about money can be incredibly he ..read more

A Gift To The Future Have you ever thought back to what memories you have from loved ones who have passed on? Is there an occasion or event that reminds you of them? Leaving a lastly legacy for those in your life to remember you by is a gift that keeps on giving, a gift to the future. Living your life to the fullest is a common goal, but it seems that some people aren’t planning on the after. With everything that is happening around the world it is a great time to think of what type of legacy you want to leave. In the latest episode of my podcast, Your Longest Life, I spoke with Richard O. Wei ..read more

December 2020 Market Stats The December 2020 market stats are out, the activity varies greatly by price point. Multiple offers are more common, ask me how to make your offer more attractive to sellers. We are continuing to see very low inventory of single family homes for sale, and this decreases the number of days this type of property are on the market for. We see that across all 3 categories show increases in the average sale price. Could this be the month you put your property on the market? Or the month you purchase a property? Check out the November Market Stats here. Here’s a link to I ..read more

April 2022 Market Stats The April 2022 market stats are out, the activity varies greatly by price point. Multiple offers are less common, ask me how to make your offer more attractive to sellers. We are continuing to see low inventory of single family homes for sale, and this decreases the number of days this type of property are on the market for. We see across all 3 categories show increases in the average sale price. Just look at the increases in average sale price of single family homes! A great time to put your home on the market, and take advantage of the sellers’ market.   Here’s ..read more

January 2021 Market Stats The January 2021 market stats are out, the activity varies greatly by price point. Multiple offers are more common, ask me how to make your offer more attractive to sellers. Starting off a new year with a bang! We are continuing to see very low inventory of single family homes for sale, and this decreases the number of days this type of property are on the market for. We see that across all 3 categories show increases in the average sale price. Just look at the increase in average sale price of single family homes! A great time to put your home on the market, and take ..read more