Weekly Real Estate Take [April 2024 - Week 1]

38 new listings hit the market this week, down from 64 last week. Sales are down slightly from 17 last week, to 13 sales this week. I am predicting an increase in new listings next week. The nice weather has given homeowners a chance to prepare their homes for sale in the upcoming weeks. The 2024 market has inventory rising and home prices holding steady. The next 12 weeks will be very telling as to what the last half of 2024 has in store for Nanaimo home values.

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 April 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 774 Southland Way a 6 bed, 4 bath, 3,662 sqft South Nanaimo home listed for $949,900 ($259/sqft), 3642 Cottleview Dr a 4 bed, 3 bath, 2,300 sqft Uplands home listed for $739,900 ($322/sqft), 1416 White St a 4 bed, 2 bath, 1,886 sqft Central Nanaimo home listed for $619,900 ($329/sqft).

The 3 homes listed this week with the highest $/sqft are 2099 Lark Cres a 2 bed, 2 bath, 993 sqft Central Nanaimo home listed for $699,000 ($704/sqft), 5706 Quarry Cres a 2 bed, 2 bath, 1,254 sqft Pleasant Valley home listed for $850,000 ($678/sqft), 7162 Lancrest Terr a 2 bed, 3 bath, 2,552 sqft Lower Lantzville home listed for $1,550,000 ($607/sqft).

The 3 homes priced the most below their assessed value are 1350 Kurtis Cres a 3 bed, 2 bath, 2,294 sqft Cedar home listed for $859,000 (17% below its tax-assessed value), 7162 Lancrest Terr a 2 bed, 3 bath, 2,552 sqft Lower Lantzville home listed for $1,550,000 (14% below its tax-assessed value), 3642 Cottleview Dr a 4 bed, 3 bath, 2,300 sqft Uplands home listed for $739,900 (5% below its tax-assessed value).

The 3 highest priced new listings this week are 186 Holland Rd a 5 bed, 4 bath, 5,058 sqft South Jingle Pot home listed for $1,999,900. 3574 Oakridge Dr a 6 bed, 6 bath, 4,587 sqft Departure Bay home listed for $1,799,888. 8170 Southwind Dr a 4 bed, 3 bath, 3,753 sqft Upper Lantzville home listed for $1,649,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of  777 Oakley St secured a 4% discount off the $639,900 asking price (sale price $615,000). The buyers of 32 Fourth St secured a 4% discount off the $674,900 asking price (sale price $650,000). The buyers of 5904 Parkway Dr secured a 3% discount off the $779,900 asking price (sale price $756,000).

The 3 highest cost per sqft sales this week were 727 Millstone Ave a 4 bed, 2 bath, 2,468 sqft Central Nanaimo home sold for $805,000 ($326/sqft), 5417 Westdale Rd a 4 bed, 3 bath, 2,136 sqft North Nanaimo home sold for $916,200 ($429/sqft), 4400 Gulfview Dr a 4 bed, 3 bath, 1,959 sqft North Nanaimo home sold for $840,000 ($429/sqft).

The 3 highest sales this week were 3312 Roper Rd a 4 bed, 3 bath, 2,522 sqft Cedar home sold for $1,142,000. 4525 Suncrest Rd a 5 bed, 4 bath, 2,814 sqft Diver Lake home sold for $969,900. 2224 Dockside Way a 6 bed, 3 bath, 2,840 sqft South Jingle Pot home sold for $920,000.

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

Social Media - Just in Case You Missed It:

• April 2024 Market Update

• Define Your Own Success: Letting Go of Comparison in Real Estate and Life

• The Art of Advising: The Vital Skills of Active Listening and Creative Problem Solving

• Maximize Your Home's Value: Why Multiple Expert Opinions Are Crucial Before Selling!

This Week in John’s Life

Professionally I have been very busy with meeting homeowners and providing property valuation reports, we had possession of a Parksville waterfront, 5 subject removals, & 4 new listings launching next week. We also have 2 new projects to introduce over the next 2 weeks, including a waterfront multi-family project in Nanaimo and a light industrial warehouse project in Parksville, BC.

Personally, I had a great experience with a Doctor who demonstrated exceptional active listening skills when I renewed my MMA Referee License (IG Video here). I witnessed a gorgeous sunset in Downtown Nanaimo (IG Video here). I celebrated 6 months since I made the decision to make some dramatic life changes (IG Post here). In addition, I have been keeping up with my daily yoga practice & weekly boxing training. This weekend I will be spending time with my daughters, Avery & June, and mixing in some media work with our talented media team. Crossing my fingers that this beautiful weather holds. Wishing you a beautiful weekend.  

- John Cooper