Sales have more than doubled this week compared to last week. 23 homes sold in the last 7 days compared to only 10 in the previous week. New listings have started to decline with only 39 homes hitting the market this week compared to 47 last week. I expect new listings to decline over the next few weeks and sales to remain steady until late November.
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 260 Deer Lane a 3 bed, 4 bath, 2,540 sqft Uplands home listed for $499,000 ($196/sqft), 750 Connaught Ave a 3 bed, 2 bath, 2,149 sqft South Nanaimo home listed for $630,000 ($293/sqft), 905 Harbour View St a 5 bed, 5 bath, 2,900 sqft South Nanaimo home listed for $899,000 ($310/sqft).
The 3 homes listed this week with the highest $/sqft are 1750 Waddington Rd a 1 bed, 1 bath, 668 sqft Central Nanaimo home listed for $639,000 ($957/sqft), 1790 Waddington Rd a 1 bed, 1 bath, 503 sqft Central Nanaimo home listed for $419,000 ($833/sqft), 1323 Wexford Rd a 3 bed, 2 bath, 870 sqft Chase River home listed for $699,000 ($803/sqft).
The 3 homes priced the most below their assessed value are 260 Deer Lane a 3 bed, 4 bath, 2,540 sqft Uplands home listed for $499,000 (36% below its tax-assessed value), 5992 Schooner Way a 3 bed, 3 bath, 1,938 sqft North Nanaimo home listed for $797,900 (11% below its tax-assessed value), 2750 Country Club Dr a 3 bed, 3 bath, 1,659 sqft Departure Bay home listed for $727,000 (7% below its tax-assessed value).
The 3 highest priced new listings this week are 5912 Waldbank Rd a 4 bed, 4 bath, 4,888 sqft North Nanaimo home listed for $3,199,900, 2730 Cedar Heights Cres SW a 4 bed, 5 bath, 3,626 sqft Cedar home listed for $1,650,000, 135 Golden Oaks Cres a 4 bed, 3 bath, 2,514 sqft North Nanaimo home listed for $1,250,000.
Notable New Sales
The 3 buyers that secured the largest discounts this week are the buyers of 5344 Kenwill Dr who secured a 14% discount off the $1,150,000 asking price (sale price $987,695). The buyers of 624 Howard Ave who secured a 9% discount off the $639,900 asking price (sale price $585,000). The buyers of 6025 Wardun Dr who secured a 8% discount off the $1,049,000 asking price (sale price $965,000).
The 3 highest cost per sqft sales this week were 1850 Shasta Rd a 3 bed, 3 bath, 2,248 sqft Cedar home sold for $1,574,000 ($700/sqft), 626 Winchester Ave a 2 bed, 1 bath, 980 sqft South Nanaimo home sold for $630,000 ($643/sqft), 2469 Crystal Brook Way a 3 bed, 2 bath, 1,249 sqft Diver Lake home sold for $700,000 ($560/sqft).
The 3 highest sales this week were 100 Stamp Way a 5 bed, 3 bath, 2,990 sqft Hammond Bay home sold for $1,580,000. 1850 Shasta Rd a 3 bed, 3 bath, 2,248 sqft Cedar home sold for $1,574,000. 6423 Lewis Rd a 5 bed, 4 bath, 3,446 sqft North Nanaimo home sold for $1,400,000.
If you are looking for details on a recent sale not mentioned here, email me and I will send you the sale price.
![Weekly Real Estate Take [January 2025 - Week 2]](https://cdn.chime.me/image/fs/cmsbuild/2025113/16/w600_original_c11b22d8-2e33-4dd7-a758-4de58e408287-png.webp)
![Weekly Real Estate Take [January 2025 - Week 1]](https://cdn.chime.me/image/fs/cmsbuild/2025115/13/w600_original_5256f14c-95ee-4074-b89d-8b097bb1790b-png.webp)
