Weekly Real Estate Take [September 2024 - Week 1]

Notable New Listings.

I like to start by outlining the best value based on $/sqft. The 3 best value homes listed this week are 1514 Wilson Rd a 4 bed, 3 bath, 3,048 sqft Chase River home listed for $823,999 ($270/sqft), 3067 Hammond Bay Rd a 4 bed, 3 bath, 3,277 sqft  Hammond Bay home listed for $899,900 ($275/sqft), 960 Malaspina Cres a 5 bed, 3 bath, 2,960 sqft  Departure Bay home listed for $815,000 ($275/sqft).

The 3 homes listed this week with the highest $/sqft are 3194 Hewstone Rd a 3 bed, 2 bath, 2,822 sqft Cedar home listed for $1,980,000 ($702/sqft), 135 Newcastle Ave a 4 bed, 3 bath, 3,289 sqft Brechin Hill home listed for $2,198,000 ($668/sqft), 6970 Shale Rd a 3 bed, 3 bath, 2,455 sqft Lower Lantzville home listed for $1,579,000 ($643/sqft).

The 3 homes priced the most below their assessed value are 8028 Lantzville Rd a 4 bed, 3 bath, 2,435 sqft Lower Lantzville home listed for $1,798,000 (13% below its tax-assessed value), 270 Crestline Terr a 4 bed, 3 bath, 2,722 sqft Hammond Bay home listed for $1,395,000 (12% below its tax-assessed value), 960 Malaspina Cres a 5 bed, 3 bath, 2,960 sqft  Departure Bay home listed for $815,000 (10% below its tax-assessed value).

The 3 highest priced new listings this week are 135 Newcastle Ave a 4 bed, 3 bath, 3,289 sqft Brechin Hill home listed for $2,198,000, 3194 Hewstone Rd a 3 bed, 2 bath, 2,822 sqft  Cedar home listed for $1,980,000, 186 Holland Rd a 5 bed, 4 bath, 5,058 sqft  South Jingle Pot home listed for $1,849,900.

The 3 buyers that secured the largest discounts this week are the buyers of  410 Diamond Blvd secured a 34% discount off the $700,000 asking price (sale price $460,000), The buyers of 6217 Icarus Dr secured a 8% discount off the $1,049,000 asking price (sale price $960,000), The buyers of 468 Hewgate St secured a 8% discount off the $624,900 asking price (sale price $575,000).

The 3 highest cost per sqft sales this week were 7036 Dickinson Rd a 4 bed, 4 bath, 4035 sqft  Lower Lantzville home sold for $3,295,000 ($817/sqft), 125 Adams Ave a 3 bed, 2 bath, 1,375 sqft  Central Nanaimo home sold for $716,000 ($521/sqft), 15 Strickland St a 3 bed, 2 bath, 1,347 sqft  South Nanaimo home sold for $652,000 ($484/sqft).

The 3 highest sales this week were 7036 Dickinson Rd a 4 bed, 4 bath, 4035 sqft  Lower Lantzville home sold for $3,295,000, 6888/6896 Doumont Rd a 7 bed, 5 bath, 4,100 sqft  Pleasant Valley home sold for $1,540,100, 6462 Thornwood Pl a 5 bed, 4 bath, 3,014 sqft  North Nanaimo home sold for $1,240,000.

This week is John’s life

This week we had 2 completions, 3 subject removals, and we are onboarding 3 new listings for market introductions next week, including a gorgeous beachfront property in Ladysmith, a character home in the Old City, and an affordable condo in South Nanaimo. 

This week, the focus was on back-to-school. My youngest daughter started Grade 9, and my oldest daughter started Grade 11. It is hard for me to believe that grade school ends for both of my girls in four years!