Weekly Real Estate Take [June 2024 - Week 4]

59 single-family homes were listed this week.  That is a decrease from 61 last week. Sales have remained steady with 26 homes selling in the last 7 days. The market conditions remain balanced which means that homes with good value are selling quickly. Prices are holding steady but not increasing, so buyers are being cautious. I am encouraging our sellers to price accurately and firmly.

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. 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 3309 Shearwater Dr a 4 bed, 4 bath, 3,236 sqft Hammond Bay home listed for $959,900 ($297/sqft), 1901 Meredith Rd a 5 bed, 2 bath, 2,471 sqft Central Nanaimo home listed for $750,000 ($304/sqft), 905 Terminal Ave N a 7 bed, 3 bath, 2,500 sqft Central Nanaimo home listed for $769,000 ($308/sqft).

The 3 homes listed this week with the highest $/sqft are 5705 Vanderneuk Rd a 5 bed, 5 bath, 3,351 sqft North Nanaimo home listed for $259,9000 ($776/sqft), 5707 Vanderneuk Rd a 5 bed, 4 bath, 3,611 sqft North Nanaimo home listed for $2,599,000 ($720/sqft), 2022 Woobank Rd a 3 bed, 3 bath, 1,438 sqft Cedar home listed for $989,900 ($688/sqft).

The 3 homes priced the most below their assessed value are 1635 Cedar Rd a 4 bed, 2 bath, 1,694 sqft Cedar home listed for $688,000 (12% below its tax-assessed value), 210 Rovere Pl a 3 bed, 2 bath, 1,370 sqft North Nanaimo home listed for $750,000 (4% below its tax-assessed value), 905 Terminal Ave N a 7 bed, 3 bath, 2,500 sqft Central Nanaimo home listed for $769,000 (3% below its tax-assessed value).

The 3 highest priced new listings this week are 5912 Waldbank Rd a 4 bed, 5 bath, 4,888 sqft North Nanaimo home listed for $3,299,900. 5707 Vanderneuk Rd a 5 bed, 4 bath, 3,611 sqft North Nanaimo home listed for $2,599,000. 5705 Vanderneuk Rd a 5 bed, 5 bath, 3,351 sqft North Nanaimo home listed for $2,599,000.

Notable New Sales

The 3 buyers that secured the largest discounts this week are the buyers of  3989 Hammond Bay Rd secured a 13% discount off the $964,999 asking price (sale price $840,000). The buyers of 2308 Rockwood Pl secured a 12% discount off the $1,200,000 asking price (sale price $1,050,000). The buyers of 212 Arrow Way secured a 10% discount off the $1,299,900 asking price (sale price $1,170,000).

The 3 highest cost per sqft sales this week were 3259 Hallberg Rd a 4 bed, 5 bath, 1,824 sqft Extension home sold for $1,250,000 ($685/sqft), 6020 Monashee Way a 3 bed, 2 bath, 1,522 sqft North Nanaimo home sold for $880,000 ($578/sqft), 289 Kathryn Pl a 3 bed, 2 bath, 1,202 sqft University District home sold for $665,000 ($553/sqft).

The 3 highest sales this week were 6975 Warick Rd a 3 bed, 3 bath, 3,248 sqft Lower Lantzville home sold for $1,308,000. 3259 Hallberg Rd a 4 bed, 5 bath, 1,824 sqft Extension home sold for $1,250,000. 418 Sealion Pl a 4 bed, 3 bath, 2,075 sqft North Nanaimo home sold for $1,177,000.

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