John Cooper’s Weekly

Nanaimo Real Estate Take

The Nanaimo single-family real estate market is mounting its comeback. Despite a predictable increase in inventory for the spring, the sales numbers are steadily increasing and there seems to be some optimism emerging in the market as a whole. Well-priced homes are seeing multiple offers in some cases, especially if they are free of anomalies like steep driveways or road noise. Ranchers and suited homes are seeing a lot of action, as they always do. The fundamentals still exist, price to the market and do everything you can to have your property present at its best. This market prefers properties that show to be owned by a ‘proud and diligent owner’. Spring is a time for cleaning and preventative maintenance and these activities tend to produce some of the greatest returns relative to any other upgrade you can perform.

Interesting Properties of The Week

Notable New Listings

This week I would like to point out a well-priced property on 2860 Fairbrook Street. This property is priced at $549,900; 27% below its assessed value. Your best value on a cost per sq/ft is located in the popular neighbourhood of Cilaire. 236 Cilaire Drive is a 6 bed 3 bath, 3250 sqft home that is listed at $320/sqft ($1,030,000). That is well below the replacement cost for a home in such a nice neighbourhood.

Notable New Sales

Whoever negotiated the sale at 790 St. George needs a pat on the back for the 12% discount they managed to secure their clients! That is 3 times the 4% discount average. You hear me take about how assessments are poor indicators of value and that is supported by the sale at 3010 Frost Rd, which sold for 37% below its assessed value of $748,000 for $468,900/.

Listing Data (click links below to access reports)

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@coopergroup.ca or 250-619-9207.