Weekly Real Estate Take [April 2024 - Week 2]

by John Cooper

There were 53 single-family homes listed in Nanaimo in the last week. This is up from 38 homes last week. This is the second-highest week for new single-family home listings in the last 6 months. We have also seen an increase in sales from 13 last week, to 18 this week. Market conditions remain balanced in most product and price categories.

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

Notable New Listings.

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 5375 Bayshore Dr a 5 bed, 4 bath, 4,963 sqft North Nanaimo home listed for $1,275,000 ($257/sqft), 5227 Lost Lake Rd a 4 bed, 3 bath, 3,584 sqft North Nanaimo home listed for $1,099,900 ($307/sqft), 346 Watfield Ave a 6 bed, 2 bath, 2,406 sqft South Nanaimo home listed for $765,000 ($318/sqft).

The 3 homes listed this week with the highest $/sqft are 8038 Lantzville Rd a 3 bed, 3 bath, 3,778 sqft Lower Lantzville home listed for $3,098,000 ($820/sqft), 3512 Stephenson Point Rd a 3 bed, 2 bath, 1,735 sqft Hammond Bay home listed for $1,389,000 ($801/sqft), 3079 Barnes Rd a 2 bed, 2 bath, 1,640 sqft Cedar home listed for $1,300,000 ($793/sqft).

The 3 homes priced the most below their assessed value are 8038 Lantzville Rd a 3 bed, 3 bath, 3,778 sqft Lower Lantzville home listed for $3,098,000 (14% below its tax-assessed value), 708 Hyatt Pl a 3 bed, 3 bath, 2,149 sqft North Nanaimo home listed for $1,299,900 (11% below its tax-assessed value), 635 Haliburton St a 3 bed, 2 bath, 1,428 sqft South Nanaimo home listed for $609,900 (5% below its tax-assessed value).

The 3 highest priced new listings this week are 5060 Broad Ridge Pl a 6 bed, 6 bath, 5,570 sqft Upper Lantzville home listed for $3,350,000. 8038 Lantzville Rd a 3 bed, 3 bath, 3,778 sqft Lower Lantzville home listed for $3,098,000. 2974 Haslam Rd a 6 bed, 5 bath, 4,320 sqft Cedar home listed for $2,899,900.

Notable New Sales.

The 3 buyers that secured the largest discounts this week are the buyers of 1448 Seaspray Blvd secured an 8% discount off the $1,199,000 asking price (sale price $1,100,000). The buyers of 3801 Jingle Pot Rd secured a 6% discount off the $899,900 asking price (sale price $845,000). The buyers of 24 Kanaka Pl secured a 5% discount off the $595,000 asking price (sale price $565,000).

The 3 highest cost per sqft sales this week were 3414 Stephenson Point Rd a 4 bed, 4 bath, 4,198 sqft Hammond Bay home sold for $2,930,000 ($698/sqft), 1448 Seaspray Blvd a 3 bed, 2 bath, 1,723 sqft Cedar home sold for $1,100,000 ($638/sqft), 182 O'Hara Pl a 3 bed, 1 bath, 1,013 sqft University District home sold for $599,000 ($591/sqft).

The 3 highest sales this week were 3414 Stephenson Point Rd a 4 bed, 4 bath, 4,198 sqft Hammond Bay home sold for $2,930,000. 2209 Arbot Rd a 5 bed, 3 bath, 3,005 sqft South Jingle Pot home sold for $1,125,000. 1448 Seaspray Blvd a 3 bed, 2 bath, 1,723 sqft Cedar home sold for $1,100,000.

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

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This Week in My Life

Professionally we had 4 new listing hit the market this week, a 2 bed 2 bath townhome on Harwell Rd (video here), a 1 bed, 1 bath condo on Bowen Rd (video here), a gorgeous 4 bed, 4 bath home on Dover Rd with a suite (video here), & a 3 bed, 3 bath townhome on Kerrisdale (video here). We sold a lot on Gabriola Island and a rancher on O’Hara Place (IG post here), one of our new listings has an accepted offer and we have 11 listings scheduled to go live next week.

Personally, I celebrated my 16th anniversary as a licensed real estate agent (IG post here). Last night I had a great time as the MC for the Vancouver Island Commercial Building Awards hosted at the Vancouver Island Conference Centre (IG Post here). I have been the MC for this event for the last 5 years.

Weekly Real Estate Take [April 2024 - Week 2]

by John Cooper

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