John Cooper’s Weekly Real Estate Take (March 2023 - Week 4)

Slightly fewer new listings in the last 7 days at 34, likely impacted by spring break. The Daffodils have bloomed so it is officially spring in Nanaimo and I expect that to be reflected with a rise in the new listing numbers over the next 8 weeks. Sales have remained steady at 24 and anecdotally market activity is increasing based on the increase in showing requests our listings are receiving in Nanaimo. As market conditions remain balanced, both buyers and sellers are having to negotiate on properties that are accurately priced. Underpriced homes are still receiving multiple offers and over-priced properties are not selling.

Interesting Properties of The Week

Notable New Listings

If south-facing Hammond Bay waterfront is your thing have a look at 3684 Lagoon Rd, these properties rarely see the market. If waterfront is out of the budget, take a look at the 2 properties with the lowest cost per square foot at 2769 Marvelle Place in Diver Lake & 749 Drake Street in beautiful Brechin Hill.  Both of these properties have income suites, are over 2400 sqft and are priced at $321/sqft ($799,000).

Notable New Sales

Put 2880 Cosgrove Crescent in Departure Bay on the “one that got away” list. It had an incredible view of the bay and is a very popular area. The happy sellers at 3622 Reynolds Rd. managed to obtain $73,000 above their asking price & 9% above the assessed value.

Nanaimo Residential New Listings

Nanaimo Residential Home Sales This Week

Nanaimo Residential Withdrawn/Cancelled/Expired Listings

Additional Market Stats for Nanaimo, Parksville, Qualicum Beach, & Ladysmith