Weekly Real Estate Take [December 2023 - Week 2]

Only 2 weeks left in 2023. This past week saw 13 new listings hit the market and 15 single family homes sell. Nice to see market activity this late in the year. My conversations with agents and research over the last month have me feeling more optimistic about what 2024 has in store for the Nanaimo real estate market. I will be providing the weekly play by play right here in our weekly email!

If you are interested in learning what the market conditions are for your home, drop me an email and I will run the numbers specifically for you. 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 me.

- 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 3565 Planta Rd, a 5 bed, 3 bath, 3,385 sqft Hammond Bay Rd home listed for $829,900 ($245/sqft), 4851 Fillinger Cres, a 4 bed, 3 bath, 2,670 sqft North Nanaimo home listed for $974,900 ($365/sqft), & 5407 Bayshore Dr, a 4 bed, 3 bath 2,900 sqft North Nanaimo home listed for $1,090,000 ($375.sqft)

The 3 homes listed this week with the highest $/sqft are 6532 Ptarmigan Way, a 5 bed, 4 bath, 3,988 sqft North Nanaimo home listed for $2,997,770 ($752/sqft), 3037 Hammond Bay Rd, a 3 bed, 3 bath, 1,803 sqft Hammond Bay home listed for $1,099,900 ($610/sqft), and 6251 McRobb Ave, 3 bed, 2 bath, 1,634 sqft North Nanaimo home listed for $949,900 ($581/sqft).

The 3 homes priced the most below their assessed value are 3565 Planta Rd, a 5 bed, 3 bath, 3,385 sqft Hammond Bay home listed for $829,900 (5% below its tax-assessed value), 726 Bruce Ave, a 2 bed, 1 bath, 3,059 sqft South Nanaimo home listed for $549,999 (5% below their tax-assesses value), & 137 Strickland St, a 2 bed, 1 bath, 1,225 sqft South Nanaimo home listed for $429,900 (5% below tax-assessed value). 53% of the homes listed this week were listed at or below their tax-assessed value.

The 3 highest priced new listings this week are 6532 Ptarmigan Way, a 5 bed, 4 bath, 3,988 sqft North Nanaimo home listed for $2,997,770, 7374 Spence’s Way, a 4 bed, 3 bath, 3,059 sqft Upper Lantzville home listed for $1,299,900 , & 3037 Hammond Bay Rd, a 3 bed, 3 bath, 1,803 sqft Hammond Bay home listed for $1,099,900.

Other interesting listings this week include 922 Cadogan St in Central Nanaimo, 4851 Fillinger Cres in North Nanaimo, and 198 Bird Sanctuary Dr in the University District.

Notable New Sales

The 3 buyers that secured the largest discounts this week, the buyers of 2626 Barnes Rd secured a 9% discount off the $989,000 original asking price (sale price $899,000). The buyers of 3614 Hillside Ave, secured a 9% discount off the $1,100,000 original asking price (sale price $1,000,000). The buyers of 7355 Aulds Rd secured a 9% discount off the $1,230,000 asking price (sale price $1,125,000). The average discount across all trades in 2023 was less than 3.

The 3 highest cost per sqft sales this week were 5534 Garibaldi Dr, 3 bed, 2 bath, 1,642 sqft North Nanaimo home that sold for $873,000 ($536/sqft), 1857 William Quinn Way, a 3 bed, 3 bath, 1,612 sqft Cedar home that sold for $751,000 ($465/sqft), & 7355 Aulds Rd, a 5 bed, 3 bath, 2,591 sqft Upper Lantzville home that sold for $1,125,000 ($475/sqft).

The 3 highest sales this week were 120 Golden Oaks Cres (sold for $1,199,900), 7355 Aulds Rd (sold for $1,125,000), & 3614 Hillside Ave (sold for $1,000,000).

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

• Nanaimo Residential New Listings
• Nanaimo Residential Home Sales This Week
• Nanaimo Residential Withdrawn / Cancelled / Expired Listings
• Additional Market Stats (Nanaimo, Parksville, Qualicum Beach & Ladysmith)

Social Media - Just in Case You Missed It:

• 2023 Recap & 2024 Outlook - Navigating Investment Markets with Dave Leneveu
• Strata Living: Navigating the Decision to Downsize with Confidence and Clarity
• The Best Nanaimo Neighborhoods

This Week in John’s Life

This week I attended a Realtor social and fundraiser in Duncan hosted by my friend and fellow agent Ray Little. It was great to meet some new agents and raise some money for families in need. This weekend my girls and I are at Hotel Vancouver for our annual Christmas in the City getaway weekend. We have reservations at Tavola Italian Restaurant on Robson St on Saturday night that I am very excited about. We will spend the rest of the weekend exploring all of the Christmas fun and shopping Downtown Vancouver has to offer. I completed all of my professional Continuing Education credits this week including Legal Update 2023 and Professional Ethics 2023. Both courses were completed online and had a few takeaways. Next week I leave for Waikiki on a solo getaway to the big island. Follow along on my social media if interested in what Hawaii is like over Christmas. This week will be filled with self-reflection and gratitude. Talk soon. ❤️🙏

Whether you’re looking for further clarification on the points and insights above, would like to discover your specific home value, or just have real estate questions you’d like answered, I’d love to hear from you!

Reach out to me directly at john@coopergroup.ca or 250-619-9207.