John's Weekly Vancouver Island Real Estate Take [June 2023 - Week 1]
60 new listings hit the market this week, that’s a 25% increase over last week. Weekly sales are holding steady at 27. June is a prime month for real estate trading in Nanaimo. I expect to see an increase in listings and sales over the next few weeks. As we head into July & August I believe we will see inventory start to increase subtly and continue into the fall.
Interesting Properties of The Week
Notable New Listings
81 Strickland St. is the lowest-priced single-family detached home listed this week. Offers are being reviewed on Tuesday at 4pm. 1361 Bush St. is priced at $266/sqft. ($549,900). The property needs some work downstairs. This week, 827 Bruce Ave. was listed and priced at $300/sqft. 2920 sqft home on a 16,000 sqft lot. 7793 Superior Rd. came to market at $851/sqft ($1,499,000) 1763 sq ft, 3 bed, 1 bath home on 2.47 acres, zoning allows for a 2nd home. 3254 Ridgeview Pl. is listed 24% below its tax-assessed value at $2,500,000. 7139 sq ft on 5.19 acres. 6 bedrooms & 7 bathrooms, priced well below replacement cost. 4850 Prospect Dr. in Cedar, BC is priced 12% below the tax-assessed value at $675,000. A 3 bed, 2 bath 1292 sqft rancher on a massive 22,651 sqft lot.
Notable New Sales
455 Eighth St. sold for $288/sqft, a 3 bed, 3 bath 2918 sqft home on a 21,780 sqft lot sold for $839,000. 4756 Fairbrook Cres. sold for $342/sqft, 7% above the list price of $699,900 ($752,000). 305 Dorchester Pl. was the highest priced home sale this week ($1,430,000) for a 4 bed 4 bath 4632 sqft home in Nanaimo’s University District.
Listing Data (click links below to access reports)
Nanaimo Residential New Listings This Week
Naniamo Residential Home Sales This Week
Nanaimo Residential Cancelled / Expired / Withdrawn Listings
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