We are smack dab in the middle of the busiest time of year for real estate trading on Vancouver Island. The busiest months for real estate trading are May, June, April, September, & October (in that order). Mid May represents the middle of the spring market. 2023 has seen our local real estate market return to balanced market conditions. In the last 6 months we have seen 64 Single Family Homes with at least 3 bedrooms and 2 bathrooms sell every month. There are presently 249 homes in Nanaimo with at least 3 bedrooms and 2 bathrooms. This represents 3.89 months of inventory. This confirms that we are in balanced market conditions, slightly favouring sellers. It is my prediction that these balanced conditions will extend at least until August. As we approach fall I will be reporting on market conditions, I am expecting the market will start to see inventory rise by late 2023. Stay tuned to our weekly reports for my real time predictions. If you are interested in my analysis of your specific property, just reply to this email with your address and I will do a custom market analysis for our property type to confirm if you are in a Sellers Market, Buyers Market or Balanced Market. The math is different for every property type.