The volume of new single-family homes hitting the Nanaimo market is increasing every week. 52 homes hit the market this week (up from 46 last week). Weekly sales of single-family homes is holding steady at 20 sales/week for the last 2 weeks. We are still in the early stages of the spring market and sellers on the market with accurate pricing are being met with consistent showings and demand.

If you are interested in learning what the market conditions are for your home, drop me an email and we can arrange for a conversation about your needs. Replies to this weekly email come directly to my personal inbox and I read and reply to every email I receive. You will never be handed off to a team member, I pride myself on my clients having direct contact and access to my advice and guidance.

- John Cooper

Stay Ahead: Watch the March 2024 Nanaimo Market Update Now!

Notable New Listings

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 3524 Wiltshire Dr a 4 bed, 3 bath, 3,061 sqft Hammond Bay home listed for $899,000 ($294/sqft), 432 Deering St a 5 bed, 2 bath, 2,340 sqft South Nanaimo home listed for $715,000 ($306/sqft), 120 Pine St a 4 bed, 2 bath, 2,420 sqft Old City home listed for $749,900 ($310/sqft).

The 3 homes listed this week with the highest $/sqft are 7798 Plover Rd a 2 bed, 2 bath, 1,554 sqft Lower Lantzville home listed for $2,200,000 ($1416/sqft), 5267 Fillinger Cres a 3 bed, 2 bath, 1,380 sqft Hammond Bay home listed for $974,900 ($706/sqft), 615 Prideaux St a 3 bed, 2 bath, 1,675 sqft Old City home listed for $1,095,000 ($654/sqft).

The 3 homes priced the most below their assessed value are 3801 Jingle Pot Rd a 5 bed, 3 bath, 2,260 sqft North Nanaimo home listed for $899,900 (15% below its tax-assessed value), 5382 Georgiaview Cres a 3 bed, 2 bath, 2,057 sqft North Nanaimo home listed for $969,900 (8% below its tax-assessed value), 5559 Cliffside Rd a 5 bed, 3 bath, 2,866 sqft North Nanaimo home listed for $1,164,900 (6% below its tax-assessed value).

The 3 highest-priced new listings this week are 7798 Plover Rd a 2 bed, 2 bath, 1,554 sqft Lower Lantzville home listed for $2,200,000. 2710 Clover Close a 4 bed, 5 bath, 4,546 sqft North Jingle Pot home listed for $2,195,000. 5209 Norton Rd a 5 bed, 4 bath, 3,194 sqft North Nanaimo home listed for $1,398,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of  1080 Nanaimo River Rd secured a 27% discount off the $1,250,000 asking price (sale price $910,000). The buyers of 721 Starling Pl secured a 22% discount off the $725,000 asking price (sale price $562,500). The buyers of 2830 Haliday Cres secured a 8% discount off the $1,225,000 asking price (sale price $1,129,000).

The 3 highest cost per sqft sales this week were 2830 Haliday Cres a 4 bed, 3 bath, 2,299 sqft Departure Bay home sold for $1,129,000 ($491/sqft), 2060 Placid Cres a 3 bed, 2 bath, 1,503 sqft South Jingle Pot home sold for $738,000 ($491/sqft), 1461 Sherwood Dr a 3 bed, 3 bath, 2,247 sqft Departure Bay home sold for $1,087,500 ($484/sqft).

The 3 highest sales this week were 770 Beach Dr a 6 bed, 4 bath, 4,817 sqft Departure Bay home sold for $1,300,000. 2830 Haliday Cres a 4 bed, 3 bath, 2,299 sqft Departure Bay home sold for $1,129,000. 1461 Sherwood Dr a 3 bed, 3 bath, 2,247 sqft Departure Bay home sold for $1,087,500.

If you are looking for details on a recent sale not mentioned here, email me and I will send you the sale price.

This Week in John’s Life

Professionally, I was appointed for another term on the VIREB Professional Standards committee and we had our first meeting this week and welcomed some new members. We also launched a new Hammond Bay listing on Wiltshire Drive (video here).

Personally,  I attended my 175th yoga class this week at Modo Yoga, and I got to train with some up-and-coming young men at Force Boxing (picture here). On Wednesday I witnessed a beautiful sunrise and managed to capture a beautiful video of it (video here). We installed our first sold sign with the new brand (picture here). And today I am celebrating my 2 beautiful daughters, Avery & June,  for International Women's Day (picture here).

This week was a heavy week as I went to visit my dad, Ron Cooper,  at Peace Arch Hospital. He is slipping into dementia faster than we hoped, so I took my daughters for a visit. It was nice to bring him some smiles and spend some time with my older brother Ryan and younger sister Kim.

Whether you’re looking for further clarification on the points and insights above, would like to discover your specific home value, or just have real estate questions you’d like answered, I’d love to hear from you!

Reach out to me directly at john@johncooper.ca or 250-619-9207.