Weekly Real Estate Take [April 2024 - Week 4]

Spring is in full swing. 52 single-family homes have hit the Nanaimo market in the last 7 days, last week there were 54. Sales are steady with 22 Nanaimo single-family homes selling in the last 7 days. New listings will be increasing every week for at least the next 8 weeks. I am hoping sales will continue to remain steady and predict inventory to remain balanced. The current market conditions are excellent for anyone looking to sell and then buy in the Nanaimo market (downsizers and upsizers).

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 717 Dogwood Rd a 5 bed, 4 bath, 3,423 sqft South Jingle Pot home listed for $1,099,900 ($321/sqft), 5758 broadway Rd a 4 bed, 2 bath, 3,028 sqft North Nanaimo home listed for $979,900 ($324/sqft), 2143 Duggan Rd a 5 bed, 2 bath, 2,230 sqft Central Nanaimo home listed for $725,000 ($325/sqft).

The 3 homes listed this week with the highest $/sqft are 111 Haliburton St a 1 bed, 1 bath, 547 sqft South Nanaimo home listed for $499,000 ($912/sqft), 5803 Quarry Cres a 4 bed, 3 bath, 2,342 sqft Pleasant Valley home listed for $1,999,900 ($854/sqft), 8028 Lantzville Rd a 4 bed, 3 bath, 2,435 sqft Lower Lantzville home listed for $1,998,000 ($821/sqft).

The 3 homes priced the most below their assessed value are 775 Southland Way a 4 bed, 3 bath, 2,867 sqft South Nanaimo home listed for $999,900 (12% below its tax-assessed value), 481 Nottingham Dr a 6 bed, 3 bath, 2,310 sqft Departure Bay home listed for $899,000 (7% below its tax-assessed value), 5393 Georgiaview Cres a 3 bed, 3 bath, 2,418 sqft North Nanaimo home listed for $983,000 (6% below its tax-assessed value).

The 3 highest priced new listings this week are 139 Shammys Pl a 4 bed, 4 bath, 3,586 sqft Uplands home listed for $2,195,000. 5803 Quarry Cres a 4 bed, 3 bath, 2,342 sqft Pleasant Valley home listed for $1,999,900. 8028 Lantzville Rd a 4 bed, 3 bath, 2,435 sqft Lower Lantzville home listed for $1,998,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of 2895 Neyland Rd secured a 13% discount off the $789,888 asking price (sale price $686,500). The buyers of 7099 Lantzville Rd secured a 7% discount off the $990,000 asking price (sale price $920,000). The buyers of 1124 Selkirk Dr secured a 6% discount off the $1,198,000 asking price (sale price $1,127,000).

The 3 highest cost per sqft sales this week were 460 Bruce Ave a 2 bed, 1 bath, 852 sqft South Nanaimo home sold for $515,000 ($604/sqft), 375 Nicol St a 2 bed, 1 bath, 740 sqft South Nanaimo home sold for $445,000 ($601/sqft), 7162 Lancrest Terr a 2 bed, 3 bath, 2,552 sqft Lower Lantzville home sold for $1,500,000 ($588/sqft).

The 3 highest sales this week were 7162 Lancrest Terr a 2 bed, 3 bath, 2,552 sqft Lower Lantzville home sold for $1,500,000. 6277 John Paul Pl a 4 bed, 3 bath, 3,504 sqft North Nanaimo home sold for $1,235,000. 1124 Selkirk Dr a 6 bed, 4 bath, 2,871 sqft University District home sold for $1,127,000.

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:

• Unlocking Property Ownership: What You Need to Know

• Finding Your Perfect Home: Balancing Emotion and Investment with John Cooper, Real Estate Advisor

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

This Week in John’s Life

Professionally I introduced 8 new properties to the market this week including a beautiful estate in Hammond Bay Rd, 2 downtown condos and 5 light industrial warehouses in Parksville (video here). We had 2 accepted offers and sold a townhome in Central Nanaimo. I have 3 new listings hitting the market next week including a beautiful home in Nanoose, a luxurious penthouse in Fairwinds, & a 2800 sqft home in Glen Oaks. This upcoming rainy Saturday I am hosting an open house at our listing at 6524 Dover Rd from 1pm to 2pm.

Personally, this week I had a wonderful visit with my Sister in White Rock (video here). The BC Athletic Commission sent me to Delta, BC to referee for a professional MMA event at Sungod Arena (picture here).  I was able to visit my dad at Peace Arch Hospital and my sister shared this fun excerpt from his 1963 High School yearbook (picture here).

- John Cooper